Relocation SPV Financing definition

Relocation SPV Financing means the financing of (a) purchases of residential properties, fixtures and related assets (including the funding of the full purchase price of such residential properties, fixtures and assets (including the pay-off of any existing mortgage thereon), (b) the funding of advances to employees of customers in respect of the equity value of residential properties, fixtures and assets of such employees), and (c) other ordinary course Employee Relocation Business activities of CRS Holding, SRHL, ERC, any of their respective Subsidiaries or any other Subsidiary of the Borrower engaged in the Employee Relocation Business, in each case by a special-purpose Subsidiary of Holding that is not a Subsidiary of the Borrower or an unaffiliated third party (the “Relocation SPV”), provided that (a) the lender of any Indebtedness of any borrower or obligor with respect to such financing shall not have any recourse to Holding or any Loan Party for payment of such Indebtedness, (b) such Indebtedness shall not be secured by any property or assets of Holding or any Loan Party other than property or assets the Disposition of which is permitted under clause (x) of subsection 8.6(a) and (c) such financing shall be upon terms and pursuant to documentation (as amended, supplemented, extended, renewed or replaced from time to time) in form and substance reasonably satisfactory to the Administrative Agent, as evidenced by its written approval thereof (such approval not to be unreasonably withheld).
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Relocation SPV Financing the financing of (a) purchases of residential properties, fixtures and related assets (including the funding of the full purchase price of such residential properties, fixtures and assets (including the pay-off of any existing mortgage thereon), (b) the funding of advances to employees of customers in respect of the equity value of residential properties, fixtures and assets of such employees, and (c) other ordinary course Employee Relocation Business activities of the Borrower, SIRVA Relocation, SRHL, SIRVA Global Relocation, Inc., a Delaware corporation, SIRVA Relocation Properties, or any of their respective Subsidiaries engaged in the Employee Relocation Business, in each case by a special-purpose Subsidiary of Holdings that is not a Subsidiary of the Borrower or an unaffiliated third-party (the “Relocation SPV”); provided that (i) the lender of any Indebtedness of any borrower or obligor with respect to such financing shall not have any recourse to any Loan Party for payment of such Indebtedness, (ii) such Indebtedness shall not be secured by any property or assets of any Loan Party other than property or assets the Disposition of which is permitted under clause (xi) of subsection 7.6(a) and (iii) such financing shall be upon terms and pursuant to documentation (as amended, restated, supplemented or otherwise modified from time to time) in form and substance reasonably satisfactory to the Administrative Agent, as evidenced by its written approval thereof (such approval not to be unreasonably withheld); it being agreed that notwithstanding anything to the contrary herein, the documentation governing the Securitization and the Relocation SPV Financing evidenced by that certain Purchase and Sale Agreement dated as of September 30, 2008, between SIRVA Relocation Funding, LLC, as buyer, and SIRVA Relocation LLC, as seller and servicer, in each case, as in effect on the date hereof are reasonably satisfactory to the Administrative Agent.
Sample 1
Relocation SPV Financing means the financing of purchases of residential properties, fixtures and related assets (including the funding of the full purchase price of such residential properties, fixtures and assets (including the pay-off of any existing mortgage thereon) or the funding of advances to employees of customers in respect of the equity value of residential properties, fixtures and assets of such employees) by a special-purpose Subsidiary of Holding that is not a Subsidiary of the Parent Borrower or an unaffiliated third party (the “Relocation SPV”), provided that (a) the lender of any Indebtedness of any borrower or obligor with respect to such financing shall not have any recourse to Holding or any Loan Party for payment of such Indebtedness, (b) such Indebtedness shall not be secured by any property or assets of Holding or any Loan Party other than property or assets the Disposition of which is permitted under clause (x) of subsection 8.6(a) and (c) such financing shall be upon terms and pursuant to documentation (as amended, supplemented, extended, renewed or replaced from time to time) in form and substance reasonably satisfactory to the Administrative Agent, as evidenced by its written approval thereof (such approval not to be unreasonably withheld).
Sample 1

Examples of Relocation SPV Financing in a sentence

  • Nothing contained in this Agreement or in any of the other Loan Documents shall be deemed a release of Agent’s Lien upon any such proceeds and amounts payable to the applicable Granting Party under the documents governing the Relocation SPV Financing.

  • Notwithstanding anything to the contrary contained above, each applicable Granting Party hereby confirms its grant, in favor of Collateral Agent, of a continuing security interest in and lien upon all proceeds and amounts payable to such applicable Granting Party under the documents governing the Relocation SPV Financing.

  • Notwithstanding anything to the contrary contained above, each applicable Granting Party hereby confirms its grant, in favor of Agent, of a continuing security interest in and lien upon all proceeds and amounts payable to such applicable Granting Party under the documents governing the Relocation SPV Financing.

  • Such Grantor shall not permit any other Person to possess any such Collateral at any time other than in connection with any Permitted Receivables Transaction, Relocation SPV Financing or any Disposition of such Collateral in a transaction permitted by the Credit Agreement.

  • Each Granting Party further agrees, at the Administrative Agent’s request (subject to the terms of any documentation governing any Permitted Receivables Transaction or Relocation SPV Financing), to assemble the Security Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Granting Party’s premises or elsewhere.

Related to Relocation SPV Financing

  • Closing Date Refinancing means the repayment, repurchase, redemption, defeasance or other discharge of the Existing Debt Facility and termination and/or release of any security interests and guarantees in connection therewith.

  • Permanent Financing means long-term debt (with a term of no less than fifteen (15) years) including a mortgage or other financing evidenced by a lien against the property. Permanent sources of financing identified on Page 7 of Form 3 to cover development costs (including capitalized operating and replacement reserves) may not include letters of credit, cash from operations, the lease up reserve or other non-cash contributions to the Project.

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Existing Financing means the financing arrangements that provided for a security interest granted by Company in the Aircraft and that were outstanding on August 3, 2020.

  • Acquisition Closing Date means the “Closing Date” as defined in the Acquisition Agreement.

  • New Financing has the meaning specified in Section 2.04(a).

  • Co-financing means the financing referred to in Section 7.02 (h) and specified in the Loan Agreement provided or to be provided for the Project by the Co-financier. If the Loan Agreement specifies more than one such financing, “Co-financing” refers separately to each of such financings.

  • Exit Financing means the financing under the Exit Facility.

  • Wholesale acquisition cost means the same as that term is defined in 42 U.S.C. Sec. 1395w-3a.

  • Loan Closing Date means the date upon which the Loan is made to the Company.

  • Target Business Acquisition Period means the period commencing from the effectiveness of the registration statement filed with the SEC in connection with the Company's IPO up to and including the first to occur of (i) a Business Combination; or (ii) the Termination Date.

  • Refinancing Transactions means the transactions described under “Summary—The Refinancing Transactions” in the Offering Memorandum.

  • Permitted Securitization Financing means one or more transactions pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedging Agreements entered into in connection with such Securitization Assets; provided, that recourse to the Borrower or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Borrower in good faith in consultation with the Administrative Agent) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Securitization Subsidiary)).

  • Additional Financing has the meaning set forth in Section 16.3(a).

  • Permitted Financing means (i) the Company’s issuance of Common Stock and warrants therefore in connection with a merger and/or acquisition or consolidation, (ii) the issuance of shares of Common Stock or warrants therefore in connection with strategic license agreements so long as such issuances are not for the purpose of raising capital, (iii) the Company’s issuance of Common Stock or the issuance or grants of options to purchase Common Stock pursuant to the Company’s stock option plans and employee stock purchase plans as they now exist, and (iv) the issuance of Common Stock upon the exercise or conversion of any securities outstanding on the date hereof.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • Interim Financing means any new financial assistance, provided by an existing or a new creditor, that includes, as a minimum, financial assistance during the stay of individual enforcement actions, and that is reasonable and immediately necessary for the debtor's business to continue operating, or to preserve or enhance the value of that business;

  • Working Capital Facility means, at any time, the aggregate amount of the Working Capital Lenders' Working Capital Commitments at such time.

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Business Acquisition means the acquisition of a company or any shares or securities or a business or undertaking (or, in each case, any interest in any of them) or the incorporation of a company.

  • Project Financing means: (a) one or more loans, leases, equity and/or debt financings, together with all modifications, renewals, supplements, substitutions and replacements thereof, the proceeds of which are used to finance or refinance the costs of the Customer Facility, any alteration, expansion or improvement to the Customer Facility, the purchase and sale of the Customer Facility or the operation of the Customer Facility; (b) a power purchase agreement pursuant to which Interconnection Customer’s obligations are secured by a mortgage or other lien on the Customer Facility; or (c) loans and/or debt issues secured by the Customer Facility.

  • Closing Location means the location that all Proposals for this RFP will be accepted at.

  • Financing Transactions means the execution, delivery and performance by each Loan Party of the Loan Documents to which it is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

  • Project financing gap means the part of the total project cost,

  • Closing Date Acquisition shall have the meaning assigned to such term in the recitals hereto.