Securitisation Transaction definition

Securitisation Transaction means any securitisation transaction involving the transfer of any assets, revenues, undertakings or risks associated with any such assets, revenues, or undertakings to, and the issue of indebtedness by, a special purpose company (a “Special Purpose Company”) which is not a Subsidiary of any of DSB or the Guaranteed Issuers and provided that (i) none of the monetary obligations of the Special Purpose Company in respect of the transaction is subject to any recourse whatsoever in respect thereof to any of DSB, the Guaranteed Issuers or any of their respective Subsidiaries, (ii) recourse to the Special Purpose Company for amounts owing under the transaction is limited to the income or cashflow of the assets or collateral comprising the Security for such transaction, (iii) the assets held by and activities of the Special Purpose Company are restricted to those which are permitted for the purposes of the transaction, (iv) the parties to the transaction are not entitled, by virtue of any right or claim arising out or in connection with such indebtedness, to commence proceedings for the winding up or dissolution of the Special Purpose Company until at least one year and one day after the full repayment of such indebtedness, (v) the transaction is conducted on arms-length terms and (vi) the benefit of the transaction accrues, directly or indirectly, to any of DSB, the relevant Guaranteed Issuer or any of their respective Subsidiaries.

Securitisation Transaction means the securitisation transaction carried out pursuant to the Transaction Documents.

Securitisation Transaction means any transaction under which Borrowings are raised by any person in circumstances where the creditor(s) in respect of such Borrowings:

Examples of Securitisation Transaction in a sentence

• Each Party agrees to treat all information of any kind transmitted by any other Party in connection with the Securitisation Transaction as confidential.

• As Servicer for the abovementioned Securitisation Transaction, VWFS has amended its Customary Operating Practices to permit VWFS Payment Deferrals (including, for the avoidance of doubt, Further VWFS Payment Deferrals) together with the COVID-19 Extensions (as defined in the announcement of 30 March 2020) and Additional Forbearance notified on 30 March 2020, and on 2 May 2020.

• As noted in the Issuer's announcement dated 2 May 2020 VWFS has reserved the right to offer, to not offer or to adjust the Collateral RV Ledger in respect of any such additional or extended regulatory guidance which for these purposes includes the Updated FCA Guidance.The purpose of this announcement is to outline the approach VWFS will take in response to the Updated FCA Guidance and the consequential impact on the Securitisation Transaction.

• Further to the Issuer's announcements on 30 March 2020, 2 May 2020 and 25 June 2020 in respect of the Securitisation Transaction, the FCA has now published its updated temporary guidance for regulated firms that enter into regulated motor finance agreements including hire purchase and personal contract purchase agreements (the "Updated FCA Guidance").

• Such units may accordingly be securitised by the Issuer andallocated to a segregated Cell relating to the Securities issued in the context of the relevant Securitisation Transaction.

More Definitions of Securitisation Transaction

Securitisation Transaction means a transaction which involves offer or issue of asset backed securities to any investor other than a seller or originator and includes all the ancillary, incidental or related arrangements which are entered into, in relation to, or in connection with the—

Securitisation Transaction means any sale, assignment or other transfer by the Guarantor or any Subsidiary of any accounts receivable, premium finance loan receivables, lease receivables or other payment obligations owing to the Guarantor or such Subsidiary or any interest in any of the foregoing, together in each case with any collections and other proceeds thereof, any collection or deposit accounts related thereto, and any collateral, guarantees or other property or claims in favour of the Guarantor or such Subsidiary supporting or securing payment by the obligor thereon of, or otherwise related to, any such receivables.

Securitisation Transaction means an arrangement that involves the sale, transfer or assignment of assets to a special purpose vehicle where –

Securitisation Transaction means any securitisation of receivables, asset backed financing, or comparable secured loan financing or similar arrangement by which an entity acquires or provides finance against the security of certain assets or revenues and that entity funds such acquisition or financing from external funding sources (including, but not limited to, debt securities or banking facilities) on terms that such funding will be repaid primarily from such assets or revenues; and

Securitisation Transaction means an arrangement which involves the transfer of assets or risk to a special purpose vehicle where the transfer is funded by the issue of securities to investors and payments to investors in respect of those securities, are principally derived, directly or indirectly, from the cash flows of the transferred assets;

Securitisation Transaction means any sale, assignment or other transfer by the Account Party or any Subsidiary of any accounts receivable, premium finance loan receivables, lease receivables or other payment obligations owing to the Account Party or such Subsidiary or any interest in any of the foregoing, together in each case with any collections and other proceeds thereof, any collection or deposit accounts related thereto, and any collateral, guarantees or other property or claims in favour of the Account Party or such Subsidiary supporting or securing payment by the obligor thereon of, or otherwise related to, any such receivables.

Securitisation Transaction means a disposal for consideration by a local authority of all or part of its interest in specified revenues, where disposal includes both sale and assignment; and”.