SPE Subsidiary definition

SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

SPE Subsidiary means a direct or indirect Subsidiary of the Borrower to which any Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Portfolio Investments, which engages in no material activities other than in connection with the purchase, holding, disposition or financing of such assets and which is designated by the Borrower (as provided below) as an SPE Subsidiary:

SPE Subsidiary means a direct or indirect Subsidiary of the Borrower to which any Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Portfolio Investments, which engages in no material activities other than in connection with the purchase or financing of such assets and which is designated by the Borrower (as provided below) as an SPE Subsidiary:

Examples of SPE Subsidiary in a sentence

• To the knowledge of the SPE, neither the SPE nor any SPE Subsidiary has received from any insurance company any notices of cancellation or intent to cancel any insurance.

• Each SPE Subsidiary has been duly organized and is validly existing and in good standing under the Laws of its jurisdiction of organization, and has all power and authority to own, lease and/or operate its Property and to carry on its business as presently conducted.

• The SPE or a SPE Subsidiary has in place the public liability, casualty and other insurance coverage with respect to each Property as the SPE reasonably deems necessary and in all cases including such coverage as is required under the terms of any continuing loan or Lease.

• To the knowledge of the SPE, none of the SPE, any SPE Subsidiary or any third party has been informed in writing of any continuing violation of any such Laws or that any investigation has been commenced and is continuing or is contemplated respecting any such possible violation, except in each case for violations that would not, individually or in the aggregate, reasonably be expected to have a SPE Material Adverse Effect.

• There is no judgment, decree, injunction, rule or order of a Governmental Authority outstanding against the SPE, SPE Subsidiary or any officer, director, principal, managing member, general partner or Affiliate of any of the foregoing having, or which, insofar as reasonably can be foreseen, in the future would have a SPE Material Adverse Effect.

More Definitions of SPE Subsidiary

SPE Subsidiary means a special purpose Subsidiary of the Borrower established solely for the purpose of owning a parcel of real property for permanent financing purposes.

SPE Subsidiary means a special purpose entity that is a Wholly Owned Subsidiary of the Company, created for the sole purpose of, and whose only business shall be, acquisition of Investment Loans pursuant to a Securitization Transaction and those activities incidental or related to a Securitization Transaction including, without limitation, the issuances of securities in connection with such Securitization Transaction.

SPE Subsidiary means an SBIC Subsidiary or a direct or indirect Subsidiary of the Borrower with respect to which (other than pursuant to Standard Securitization Undertakings):

SPE Subsidiary means any Wholly-Owned Subsidiary formed solely for the purpose of, and that engages only in, one or more Permitted Securitizations.

SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions. “Standard & Poor’s” shall mean Standard & Poor’s, a division of the McGraw-Hill Companies.

SPE Subsidiary means each of Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, the Ares Borrower and any other special purpose entity owned, directly or indirectly, by the Company and established in connection with a financing or securitization transaction.

SPE Subsidiary means each of Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, the Atalaya Borrower and any other special purpose entity owned, directly or indirectly, by the Company and established in connection with a financing or securitization transaction.