Securitization Contracts definition

Securitization Contracts means any Contract which has been transferred to a Special Purpose Subsidiary in connection with a Securitization that is a Permitted Facility and is not a Reconveyed Contract (other than a Permitted Facility Reconveyed Contract) or a Warehouse Facility Contract.
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Securitization Contracts means Vehicle Contracts that are subject to a Permitted Securitization together with all accounts receivable, general intangibles, chattel paper or other financial assets and related rights of the Borrowers thereto.
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Securitization Contracts and (ii) by Sellers under the Securitization Letters of Credit,".
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Examples of Securitization Contracts in a sentence

  • Permitted ABS Originator Notes: the subordinated promissory notes, in form and substance reasonably acceptable to Agent, made by Securitization Subsidiary in favor of a Borrower evidencing that portion of the purchase price represented by Debt incurred by Securitization Subsidiary in connection with its purchase of Securitization Contracts and related assets from a Borrower pursuant to the Permitted ABS Purchase Agreement.

  • If any Borrower or its Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account; provided, that payments on Securitization Contracts sold to the Securitization Subsidiary pursuant to the Permitted ABS Purchase Agreement may be remitted to and held by the Securitization Subsidiary and not subject to the requirements set forth above.

  • The Sellers shall have delivered to the Buyers ---------------------- written confirmation from each nationally recognized statistical rating agency the consent of which is required under any of the Securitization Contracts that the assignment of the Securitization Assets will not result in the reduction, qualification or withdrawal of any of such credit ratings.

  • Sellers have provided true and complete copies of all Securitization Contracts to Household Bank.

  • As of the Closing Date, all such Cardholder Agreements are freely assignable and do not require the approval or consent of any Cardholder or any other Person to effectuate the valid assignment of the Cardholder Agreements relating to the Accounts in favor of Household Bank except as provided in the Securitization Contracts.

  • Except for the Intercompany Contracts or as otherwise disclosed on Schedule 4.1(i), the Contracts and the Securitization Contracts constitute all of the contracts to which any Seller is a party that relate exclusively to the Credit Card Business.

  • The Securitization Retained --------------------- Interests, Securitization Cash Collateral and the Securitization Contracts.

  • Upon the termination of a Permitted ABS Facility all Securitization Contracts with respect to such facility shall be assigned and transferred to a Borrower.

  • Sellers have provided true and complete copies of all Contracts and Securitization Contracts to Buyers.

  • The contracts (and all amendments thereto) to --------- which any Seller is party that relate exclusively to the Credit Card Business (including the Intellectual Property Contracts but excluding the Securitization Contracts and the Intercompany Contracts), which Contracts include those identified in Schedule 1.51 hereto.


More Definitions of Securitization Contracts

Securitization Contracts. The contracts to which any of Sellers is a party relating to the Securitization Trust and the Master Trust Certificates, which contracts (together with any amendments thereto) are identified in Schedule 4.4.
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Related to Securitization Contracts

  • Securitization means one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion of such Note as part of a securitization of one or more mortgage loans.

  • Securitization Facility means any of one or more receivables or securitization financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Issuer or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) pursuant to which the Issuer or any of its Restricted Subsidiaries sells or grants a security interest in its accounts receivable or Securitization Assets or assets related thereto to either (a) a Person that is not a Restricted Subsidiary or (b) a Securitization Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary.

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.

  • Securitization Documents means all documentation relating to any Permitted Securitization.

  • Permitted Securitization means, for any Borrower and its Subsidiaries, any sale, assignment, conveyance, grant and/or contribution, or series of related sales, assignments, conveyances, grants and/or contributions, by such Borrower or any of its Subsidiaries of Receivables (or purported sale, assignment, conveyance, grant and/or contribution) to a trust, corporation or other entity, where the purchase of such Receivables may be funded or exchanged in whole or in part by the incurrence or issuance by the applicable Securitization SPV, if any, of Indebtedness or securities (such Indebtedness and securities being “Attributable Securitization Obligations”) that are to be secured by or otherwise satisfied by payments from, or that represent interests in, the cash flow derived primarily from such Receivables (provided, however, that “Indebtedness” as used in this definition shall not include Indebtedness incurred by a Securitization SPV owed to any Borrower or any of its Subsidiaries, which Indebtedness represents all or a portion of the purchase price or other consideration paid by such Securitization SPV for such receivables or interests therein), where (i) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of such Borrower or any of its Subsidiaries, as applicable, in respect of Receivables sold, assigned, conveyed, granted or contributed, or payments made in respect thereof, are customary for transactions of this type, and do not prevent the characterization of the transaction as a true sale under Applicable Laws (including debtor relief laws) and (ii) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of any Securitization SPV in respect of Receivables sold, assigned, conveyed, granted or contributed or payments made in respect thereof, are customary for transactions of this type.

  • Securitization Fees means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Subsidiary in connection with, any Qualified Securitization Facility.

  • Securitization Repurchase Obligation means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.