Securitization Debt definition

Securitization Debt means Indebtedness and other obligations of a Securitization Entity outstanding under one or more Securitizations.

Securitization Debt means Indebtedness of a Securitization Entity outstanding under one or more Securitizations.

Securitization Debt means the outstanding principal amount of any Debt recorded on a PCFC Company’s consolidated financial statements in connection with a PCFC Company’s securitization of assets and with respect to which there is no recourse to a PCFC Company or any Subsidiary (except other Non-Recourse Subsidiaries) of a PCFC Company except for breaches of typical seller’s representation and warranties made by a PCFC Company or any of its Subsidiaries in connection with the securitization of assets. Subsidiary: shall mean any corporation, association or other business entity in which more than 50% of the total voting power or shares of stock entitled to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more of the other Subsidiaries of that Person or a combination thereof.

Examples of Securitization Debt in a sentence

• The Company shall not permit the outstanding principal amount of Debt of the Subsidiaries (other than (i) Debt owed to any Borrower or Subsidiary Guarantor, (ii) $250,000,000 in Securitization Debt and (ii) Debt owed under this Agreement or any other Loan Document) at any time to exceed, in the aggregate, 10% of Consolidated Total Assets.

• The auction of Auctioned Residuals and Auctioned Retained Securitization Debt shall be conducted on a separate basis.

• Securitization Debt The Company completed a financing transaction of the type commonly referred to as a contract securitization in August 2007.

• PSEG Consolidated Debt / Capitalization(1)Long-Term Debt includes Debt due within one year; excludes Securitization Debt and Non-Recourse Debt.

• Upon receipt of the firm bids, the Company may (as so directed by Purchaser), elect to sell some or all of the Residuals and/or Auctioned Retained Securitization Debt, as applicable, to the relevant winning Bidder or may elect to retain some or all of the Auctioned Residuals (subject to compliance with its obligation to sell at least the Residual Minimum Amount) and/or Auctioned Retained Securitization Debt, as applicable.

More Definitions of Securitization Debt

Securitization Debt for the Company and the Restricted Subsidiaries shall mean, in connection with any Permitted Securitization Program, (a) any amount as to which any Securitization Entity or other Person has recourse to the Company or any Restricted Subsidiary with respect to such Permitted Securitization Program by way of a Guaranty and (b) the amount of any reserve account or similar account or asset shown as an asset of the Company or a Restricted Subsidiary under GAAP that has been pledged to any Securitization Entity or any other Person in connection with such Permitted Securitization Program.

Securitization Debt shall have the meaning assigned to such term in the definition of the term “Securitization Transaction”.

Securitization Debt means all monetary obligations of the SPV arising in connection with the Approved Securitization (other than any such obligation in respect of interest, fees, indemnification or other similar obligations, and "Deferred Purchase Price" as defined in Section 5.06 of the Receivables Purchase Agreement).

Securitization Debt means the aggregate net outstanding paid, directly or indirectly, by any funding source to a Subsidiary in respect of accounts receivable or interests therein sold, conveyed, contributed or transferred or pledged pursuant to the relevant securitization documents (it being the intent of the parties that the amount of Securitization Debt at any time approximate as closely as possible the principal amount of Debt that would be outstanding under the definitive securitization documents as if the same were structured as a secured lending agreement rather than an agreement providing for the sale, conveyance, contribution to capital, transfer or pledge of the receivables or interests therein.)

Securitization Debt for the Borrower and its direct and indirect subsidiaries means, in connection with any Permitted Securitization Program, (a) any amount as to which any Securitization Entity or other Person has recourse to the Borrower or any direct or indirect subsidiary with respect to such Permitted Securitization Program by way of any guaranty thereof and (b) the amount of any reserve account or similar account or asset shown as an asset of the Borrower or a direct or indirect subsidiary under generally accepted accounting principles, consistently applied, that has been pledged to any Securitization Entity or any other Person in connection with such Permitted Securitization Program.

Securitization Debt. “Securitization Expense”, “SPV Pledge Agreement”, “Standard Securitization Undertakings”, “Subsidiary Originator Holding Company”, “Treasury Management Agreement” and “Volt Europe Group” in Section 1.01 of the Credit Agreement are hereby deleted in their entirety.

Securitization Debt means Debt of any Securitization Subsidiary which by its terms has recourse, in the event of any default thereof, solely to the accounts receivable which secure such Debt and is otherwise non-recourse to the property and assets of such Securitization Subsidiary or of any other Person.