Structured Finance Security definition

Structured Finance Security has the meaning specified in Annex C.

Structured Finance Security means any debt security which is secured directly, or represents the ownership of, a pool of consumer receivables, auto loans, auto leases, equipment leases, home or commercial mortgages, corporate debt or sovereign debt obligations or similar assets, including, without limitation, collateralised bond obligations, collateralised loan obligations or any similar security, but not including any Synthetic Security.

Structured Finance Security means any security that is primarily serviced by or linked to the cash flows of a pool of receivables or other financial assets, either fixed or revolving, plus any rights or other assets designed to assure the servicing or timely distributions of proceeds to the security holders, including without limitation any “synthetic CDO”, credit-linked note or similar credit-linked loan or obligation.

Examples of Structured Finance Security in a sentence

• The Fund’s primary credit risk would be to the issuer of the Structured Finance Security.

• The Issuer will invest in a Portfolio of Collateral Debt Obligations consisting, at the Closing Date, of Senior Loans, Mezzanine Obligations, High Yield Bonds, PIK Securities, Structured Finance Securities and Synthetic Securities under which the Reference Obligation is a Senior Loan, Mezzanine Obligation, PIK Security, Structured Finance Security or High Yield Bond.

• Finally, because subordinated Structured Finance Securities may represent a relatively small percentage of the size of the asset pool being securitised, the impact of a relatively small loss on the overall pool may be substantial on the individual subordinated Structured Finance Security.

• The offering materials in respect of the issue of Structured Finance Securities may contain extensive risk factors and other considerations associated with an investment in such Structured Finance Security, which may include both generic risks and risks specific to the particular structure or asset class of a Structured Finance Security.

• Concentration RiskThe Issuer will invest in a Portfolio of Collateral Debt Obligations consisting, potentially, of Senior Secured Loans, Unsecured Senior Loans, Second Lien Loans, Mezzanine Obligations, Structured Finance Securities, High Yield Bonds and Synthetic Securities under which the Reference Obligation is a Senior Secured Loan, Unsecured Senior Loans, Mezzanine Obligation, Structured Finance Security or High Yield Bond.

More Definitions of Structured Finance Security

Structured Finance Security means any security that is primarily serviced by or linked to the cash flows of a pool of receivables or other financial assets, either fixed or revolving, plus any rights or other assets designed to assure the servicing or timely distributions of proceeds to the security holders, including without limitation any “synthetic CDO,” credit-linked note or similar credit-linked loan or obligation.

Structured Finance Security means any security or obligation that is issued by a collateralized bond obligation fund or collateralized loan obligation fund.

Structured Finance Security means any debt security which is secured directly, or represents the ownership of collateralised loan obligations or Whole Business Securitisations; provided (a) that such security is not issued by an entity for which the Investment Manager or an Affiliate thereof is the investment manager or portfolio advisor and (b) that such debt security must have been rated by Moody’s and rated by S&P or S&P must have provided a credit estimate in relation to it and (c) that such debt security has not deferred interest.

Structured Finance Security means any debt which is secured directly, or represents ownership of, a pool of consumer receivables, auto loans, auto leases, equipment leases, home or commercial mortgages, corporate debt or sovereign debt obligations or similar assets, including without limitation, collateralised debt obligations, collateralised loan obligations or any other similar security, provided it is not a Dutch Ineligible Security and is not managed by the Collateral Manager.

Structured Finance Security. A non-recourse or limited recourse debt obligation issued by a special purpose vehicle and secured solely by the assets thereof (including, without limitation, a mortgage backed security, an asset backed security, a collateralized bond obligation or a collateralized loan obligation (or any combination thereof)).

Structured Finance Security means any debt security which is secured directly, or represents the ownership of collateralised loan obligations or Whole Business Securitisations but excluding Collateral Debt Obligations which are Asset Backed Securities, Residential Mortgage Backed Securities or Commercial Mortgage Backed Securities; provided (i) that such security is not issued by an entity for which the Investment Manager or an Affiliate thereof is the collateral manager, investment manager or portfolio manager and(ii) that such debt security must have been rated by S&P and by Moody’s, or S&P and Moody’s must have provided a credit estimate in relation to it provided that, prior to the occurrence of a Class A Controlling Party Termination Event, such debt security must have been rated at least “BB-” by S&P and “Ba3” by Moody’s.

Structured Finance Security means any debt security paying current interest when due, satisfying the Eligibility Criteria and which is issued in connection with the securitisation of the operating cash flows of a corporate obligor or any similar security, but not including any Synthetic Security and in respect of which Rating Agencies Confirmation has been received to the effect that its inclusion as a Collateral Debt Obligation will not cause the ratings of any Class of Notes to be lowered or withdrawn;