Related Collateral Obligation definition

Related Collateral Obligation means any Collateral Obligation where the Equityholder or any Subsidiary of the Equityholder owns a Variable Funding Asset pursuant to the same Underlying Instruments; provided that any such asset will cease to be a Related Collateral Obligation once all commitments by the Equityholder or any such Subsidiary to make advances or fund such Variable Funding Asset to the related Obligor expire or are irrevocably terminated or reduced to zero.

Related Collateral Obligation means any Collateral Obligation where any Affiliate of the Borrower, Servicer or the Equityholder owns a Variable Funding Asset pursuant to the same Underlying Instruments; provided that any such asset will cease to be a Related Collateral Obligation once all commitments by such Affiliate of the Borrower, Servicer or the Equityholder to make advances or fund such Variable Funding Asset to the related Obligor expire or are irrevocably terminated or reduced to zero.

Related Collateral Obligation means any Collateral Obligation where any Affiliate of the Borrower, Servicer or the Equityholder owns a Variable Funding Asset pursuant to the same Underlying Instruments; provided that any such asset will cease to be a Related Collateral Obligation

Examples of Related Collateral Obligation in a sentence

• Any Related Collateral Obligation shall not be considered part of the Collateral hereunder until the settlement date has occurred and such Related Collateral Obligation has been legally assigned to the Issuer.

• If the completion of the legal assignment of a Related Collateral Obligation has not occurred within 30 Business Days of the Closing Date, then, upon the direction of the Majority of the Controlling Class, as set forth in the relevant sale and participation agreement, the trade with respect to such Related Collateral Obligation shall be deemed cancelled and the Issuer shall have no monetary obligation to the Equity Owner.

• Upon completion of the legal assignment of a Related Collateral Obligation to the Issuer, the participation relating to such Related Collateral Obligation shall be automatically cancelled.

• If the completion of the legal assignment of a Related Collateral Obligation has not occurred within 30 Business Days of the Second Amendment Date, then, upon the direction of the Majority of the Controlling Class, as set forth in the relevant sale and participation agreement, the trade with respect to such Related Collateral Obligation shall be deemed cancelled and the Issuer shall have no monetary obligation to the Equity Owner.

More Definitions of Related Collateral Obligation

Related Collateral Obligation means any Collateral Obligation where any Affiliate of the Borrower, Servicer or the Equityholder owns a variable funding asset pursuant to the same Underlying Instruments; provided that any such asset will cease to be a Related Collateral Obligation once all commitments by such Affiliate of the Borrower, Servicer or the Equityholder to make advances or fund such Variable Funding Asset to the related Obligor expire or are irrevocably terminated or reduced to zero. USActive 49316845.1249316845.13 have been given to the Servicer by the Borrower, the Collateral Agent or the Facility Agent, the circumstance or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured;

Related Collateral Obligation means any Collateral Obligation where any Affiliate of the Borrower, Servicer or the Equityholder owns a variable funding asset pursuant to the same Underlying Instruments; provided that any such asset will cease to be a Related Collateral Obligation once all commitments by such Affiliate of the Borrower, Servicer or the Equityholder to make advances or fund such Variable Funding Asset to the related Obligor expire or are irrevocably terminated or reduced to zero. have been given to the Servicer by the Borrower, the Collateral Agent or the Facility Agent, the circumstance or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured;