Special Purpose Affiliate definition

Special Purpose Affiliate means a special purpose entity that is an Affiliate of a Beneficiary and was created for the purposes of one or more Securitized Financings.
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Special Purpose Affiliate means any entity that is a Subsidiary of HGV Borrower, that was created for the purpose of one or more Securitizations, the purposes of which are limited to acquisition and ownership of timeshare loans and related activities and that is intended to be treated as a separate and distinct entity from the Seller.
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Special Purpose Affiliate means a special purpose entity that is an Affiliate of a Nissan-Infiniti LT Beneficiary and was created for the purpose of one or more Nissan-Infiniti LT Securitized Financings.
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Examples of Special Purpose Affiliate in a sentence

  • Notwithstanding the foregoing, the SUBI Certificate and the interest in the SUBI evidenced thereby may be (i) transferred, assigned or pledged to any Special Purpose Affiliate or (ii) transferred, assigned or pledged by the Related Beneficiary or a Special Purpose Affiliate to or in favor of (A) a trustee for one or more trusts or (B) one or more other entities, in either case solely for the purpose of securing or otherwise facilitating one or more Securitized Financings.

  • Notwithstanding the foregoing, any SUBI Certificate and the interest in the SUBI evidenced thereby may be (i) transferred, assigned or pledged to any Special Purpose Affiliate or (ii) transferred, assigned or pledged by the Related Beneficiary or a Special Purpose Affiliate to or in favor of (A) a trustee for one or more trusts or (B) one or more other entities, in either case solely for the purpose of securing or otherwise facilitating one or more Securitized Financings.

  • Each Underwriter agrees that prior to the date that is one year and one day after the date upon which all obligations under each Securitized Financing have been paid in full, it will not institute against, or join any other Person in instituting against NILT LLC, the Depositor, the Titling Company, the Issuer, or any Special Purpose Affiliate, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other Proceeding under any federal or state bankruptcy or similar law.

  • Each Related Beneficiary and related Special Purpose Affiliate shall maintain such minimum collective net worth or interest in a SUBI as may be required by the related SUBI Supplement.

  • Notwithstanding SUBI Supplement the foregoing, any SUBI Certificate and the interest in the SUBI evidenced thereby may be (i) transferred, assigned or pledged to any Special Purpose Affiliate or (ii) transferred, assigned or pledged by the Related Beneficiary or a Special Purpose Affiliate to or in favor of (A) a trustee for one or more trusts or (B) one or more other entities, in either case solely for the purpose of securing or otherwise facilitating one or more Securitized Financings.

  • The Trustee shall not be accountable for the use or application by a Holder or a Special Purpose Affiliate of any Certificate(s) or the proceeds thereof, or for the use or application of any funds properly paid to the Servicer pursuant to any Servicing Agreement.

  • Beneficiary or Special Purpose Affiliate Bankruptcy..............

  • The Trustee may authorize the Related Beneficiary, any Special Purpose Affiliate (if applicable) or any Administrative Agent to make deposits into and disbursements from any Trust Account in accordance with the terms and provisions of this Agreement, the other Trust Documents and any related Securitized Financing Documents.

  • Except as set forth to the contrary in a SUBI Supplement, neither the Beneficiary nor any Special Purpose Affiliate shall transfer, assign, or pledge any beneficial interest in the Trust except as specified herein.

  • Upon the occurrence of a Force Majeure, the Servicer shall not be relieved from using all commercially reasonable efforts to perform its obligations in a timely manner, and the Servicer shall provide to the Origination Trustee and any applicable Special Purpose Affiliate prompt notice of such failure or delay, together with a description of its efforts to perform its obligations.


More Definitions of Special Purpose Affiliate

Special Purpose Affiliate means a special purpose entity that is an Affiliate of a Beneficiary and was created for the purpose of one or more Securitizations.
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Special Purpose Affiliate means any special purpose entity that is a subsidiary of SouthernCo and was created for the purpose of one or more Securitizations.
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Special Purpose Affiliate shall have the meaning set forth in Section ------------------------- ------- 5.2(c). ------
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Related to Special Purpose Affiliate

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • Political purpose means any activity undertaken in support of or in opposition to the

  • BNY Mellon Affiliate means any office, branch or subsidiary of The Bank of New York Mellon Corporation.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.