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 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 the securitisation transaction carried out pursuant to the Transaction Documents.

Examples of Securitisation Transaction in a sentence

• The Temporary Global Notes will be exchangeable, as provided in Condition 2.3 (Form and Nominal Amount ) below, for permanent global bearer notes which are recorded in the records of the ICSD (the "Permanent Global Notes") without coupons or talons attached representing each such Class of Notes and each bearing the personal signature of two duly authorised directors of Asset-Backed European Securitisation Transaction Sixteen UG (haftungsbeschränkt).

• The main business focus of the Issuer is to issue financial instruments in the form of asset backed securities whose value or yield is linked to specific assets of a Series.Any Collateral purchased by the Issuer in the course of a Securitisation Transaction may comprise cash held at banks and debt instruments issued by the Collateral Obligors, as specified in the relevant Pricing Supplement.

• 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.

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

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 the Issuer 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 the Issuer or any of its 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 of 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 arm’s length terms and (vi) the benefit of the transaction accrues, directly or indirectly, to the Issuer or any of its Subsidiaries.

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 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 the securitisation of the Claims by the Issuer through the issuance of the Notes;