Subsequent Timeshare Loan definition

Subsequent Timeshare Loan means a Timeshare Loan (i) that complies, as of the related Transfer Date, with each of the representations and warranties contained in the Transfer Agreement, including that such Subsequent Timeshare Loan is an Eligible Timeshare Loan, (ii) that such Subsequent Timeshare Loan will not cause the weighted average coupon rate of the Timeshare Loans to be less than 15.958% after the purchase thereof by the Issuer and the subsequent pledge thereof pursuant to the Indenture, (iii) that will not cause the weighted average months of seasoning on the Timeshare Loans to be less than 11 months after the purchase thereof by the Issuer and the subsequent pledge thereof pursuant to the Indenture, (iv) that the weighted average FICO scores of such Subsequent Timeshare Loans will not be less than 665 and (v) that such Subsequent Timeshare Loan does not have a stated maturity date later than 24 months prior to the Stated Maturity.
Sample 1
Subsequent Timeshare Loan means a Timeshare Loan acquired during the Prefunding Period (i) that complies, as of the related Transfer Date, with each of the representations and warranties set forth in the Transfer Agreement, including that such Subsequent Timeshare Loan is an Eligible Timeshare Loan, (ii) that the weighted average coupon rate of such Subsequent Timeshare Loan and all other Subsequent Timeshare Loans transferred on the related Transfer Date, will not be less than 14.00%, (iii) that will not cause the weighted average months of seasoning on the Timeshare Loans to be less than 13 months after the purchase thereof by the Issuer and the subsequent pledge thereof pursuant to the Indenture, (iv) that the weighted average FICO® score of such Subsequent Timeshare Loan and all other Subsequent Timeshare Loans transferred on the related Transfer Date (to the extent that the related Obligors have FICO® scores) will not be less than 545, (v) that such Subsequent Timeshare Loan shall not cause the aggregate Loan Balance of Timeshare Loans with Obligors without a FICO® score to exceed 15% of the Aggregate Loan Balance, (vi) the Loan Balance of such Subsequent Timeshare Loan is less than $30,000, (vii) that such Subsequent Timeshare Loan will not cause the percentage (by aggregate Cut-Off Date Loan Balance) of all Subsequent Timeshare Loans transferred on such Transfer Date that have Obligors making payments by either credit card automated charge or pre-authorized checking/savings to be less than 35.00% (by aggregate Cut-Off Date Loan Balance) of all Subsequent Timeshare Loans transferred on such Transfer Date and (viii) that such Subsequent Timeshare Loan does not have a stated maturity date greater than 10 years from its origination.
Sample 1
Subsequent Timeshare Loan means each Timeshare Loan meeting the criteria specified in Section 4.09 of the Indenture, sold by the Seller, purchased by the Issuer and pledged to the Indenture Trustee on a Transfer Date during the Prefunding Period.
Sample 1

Examples of Subsequent Timeshare Loan in a sentence

  • On each Transfer Date, each Subsequent Timeshare Loan or Qualified Substitute Timeshare Loan, as the case may be, shall be an Eligible Timeshare Loan.

  • Within 30 days of the Closing Date (with respect to the Initial Timeshare Loans that are Aruba Club Loans) and the related Transfer Date (with respect to a Subsequent Timeshare Loan or Qualified Substitute Timeshare Loan that is an Aruba Club Loan), the Servicer shall confirm that notices have been mailed out to each related Obligor that such Timeshare Loan has ultimately been transferred and assigned to the Issuer and pledged to the Indenture Trustee, in trust, for the benefit of the Noteholders.

  • Upon such sale and transfer, the ownership of each Subsequent Timeshare Loan and all collections allocable to principal and interest thereon after the related Cut-Off Date and all other property interests or rights conveyed pursuant to and referenced in this Section 2(b) shall immediately vest in the Issuer, its successors and assigns.

  • With respect to each Transfer Date and in accordance with the Custodial Agreement, the Issuer will deliver or cause to be delivered (i) to the Custodian, the Timeshare Loan Files, and (ii) to the Servicer, the Timeshare Loan Servicing Files, for each Subsequent Timeshare Loan or Qualified Substitute Timeshare Loan to be conveyed on such Transfer Date.

  • The Depositor shall not take any action inconsistent with such ownership nor claim any ownership interest in any Subsequent Timeshare Loan for any purpose whatsoever other than for federal and state income tax reporting and GAAP consolidation, if applicable.

  • The Depositor shall not take any action inconsistent with such ownership nor claim any ownership interest in any Subsequent Timeshare Loan for any purpose whatsoever other than for federal and state income tax reporting, if applicable.

  • Each Subsequent Timeshare Loan conveyed on a Transfer Date shall be an Eligible Timeshare Loan and each of the conditions herein and in the Indenture for the purchase of Subsequent Timeshare Loans shall have been satisfied.

  • The Seller shall not take any action inconsistent with such ownership nor claim any ownership interest in any Subsequent Timeshare Loan for any purpose whatsoever other than consolidated financial and federal and state income tax reporting.

  • On or prior to each Transfer Date, the Issuer will deliver or cause to be delivered (i) to the Custodian, the Timeshare Loan Files, and (ii) to the Servicer, the Timeshare Loan Servicing Files, for each Qualified Substitute Timeshare Loan or Subsequent Timeshare Loan to be conveyed on such Transfer Date.

  • On or prior to each Transfer Date, the Issuer will deliver or cause the Seller to deliver (i) to the Custodian, the Timeshare Loan Files, and (ii) to the Servicer, the Timeshare Loan Servicing Files, for each Qualified Substitute Timeshare Loan or Subsequent Timeshare Loan to be conveyed on such Transfer Date.

Related to Subsequent Timeshare Loan

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Initial Receivable means each Contract related to a Financed Vehicle transferred to the Issuer pursuant to Section 2.1, which, as of the Closing Date, is listed on Schedule A (which Schedule A may be in the form of an electronic file), and all rights and obligations thereunder, except for Initial Receivables that shall have become Purchased Receivables or Sold Receivables.

  • Purchased Loan means each motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by the Originator from such Dealer and evidenced by a Purchased Loan Contract; provided, however, that the term “Purchased Loan” shall, for purposes of this Agreement, include only those Purchased Loans identified from time to time on Schedule A hereto.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to (a) the aggregate principal balance of all Portfolio Investments acquired by the Company prior to such date minus (b) the aggregate principal balance of all Portfolio Investments repurchased by the Parent or an Affiliate thereof prior to such date.

  • Retained Mortgage Loan File A file for each Mortgage Loan maintained by the Servicer prior to any Document Transfer Date and by the Custodian after any Document Transfer Date that contains the documents specified in Section 2.01(b) of the Pooling and Servicing Agreement and any additional documents required to be added to the Retained Mortgage Loan File pursuant to the Pooling and Servicing Agreement.

  • Defective Mortgage Loan Any Mortgage Loan which is required to be repurchased pursuant to Section 2.02 or 2.03.

  • Purchased Asset means (i) with respect to any Transaction, the Eligible Asset sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller).

  • Additional Purchased Assets shall have the meaning set forth in Subsection 3(a).

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Subsequent Mortgage Loan Purchase Agreement The agreement between the Depositor and the Seller regarding the transfer of the Subsequent Mortgage Loans by the Seller to the Depositor.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • Mortgage Loan File for inclusion in the Mortgage Loan File (to the extent such documents are in the possession of the Special Servicer) and copies of any additional related Mortgage Loan information, including correspondence with the Borrower Related Parties, and the Special Servicer shall promptly provide copies of all of the foregoing to the Servicer as well as copies of any analysis or internal review prepared by or for the benefit of the Special Servicer, provided that, such materials shall not include any Privileged Information.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Discount Mortgage Loan Any Mortgage Loan having a Net Mortgage Rate (or the initial Net Mortgage Rate) of less than the Discount Net Mortgage Rate per annum and any Mortgage Loan deemed to be a Discount Mortgage Loan pursuant to the definition of Qualified Substitute Mortgage Loan.

  • Servicer Mortgage Loan File As defined in each of the Servicing Agreements.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Delinquent Mortgage Loan means any Mortgage Loan as to which any Monthly Payment, or part thereof, remains unpaid for 30 days or more following the original Due Date for such Monthly Payment.

  • Purchased Student Loan means a Trust Student Loan which is, as of the close of business on the last, day of a Collection Period, purchased by the Servicer pursuant to Section 3.05 of the Servicing Agreement or repurchased by the Depositor pursuant to Section 6.01 of the Sale Agreement or purchased by the Sellers pursuant to Section 6.01 of the Purchase Agreements.

  • Repurchased Loan has the meaning set forth in Section 2.3(a).

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.