Synthetic Security Collateral definition

Synthetic Security Collateral means Eligible Investments, debt securities which would satisfy the definition of Collateral Debt Securities but which have a Xxxxx'x Rating of at least "A1," a Standard & Poor's Rating of at least "A+" and, if rated by Fitch, a Fitch Rating of at least "A+," or other investments the acquisition of which would satisfy the Rating Condition, in each case which mature no later than the Stated Maturity.
Sample 1
Synthetic Security Collateral means any collateral (which shall be in the form of cash or securities which satisfies the requirement of the definition of Eligible Investments and deposited in the Synthetic Security Collateral Account) required to be delivered by the Issuer as security for its obligations to any Synthetic Security Obligor under any Synthetic Security pursuant to the terms thereof, provided that Synthetic Security Collateral may not consist of any securities that are Dutch Ineligible Securities. References to the price payable upon the acquisition of or entry into a Synthetic Security acquired or entered into by the Issuer on an unfunded basis shall be deemed to be the aggregate principal amount of Synthetic Security Collateral required to be delivered by the Issuer to the applicable Synthetic Security Obligor.
Sample 1
Synthetic Security Collateral. Any collateral in the form of cash or securities conforming to the definition of Eligible Investments or such other securities in respect of which a Rating Agency Condition has been satisfied in respect of S&P and Moody’s, in each case, as permitted by the terms of the applicable Synthetic Security required to be delivered by the Issuer as security for its obligations to any Synthetic Security Counterparty under any Synthetic Security pursuant to the terms thereof.
Sample 1

Examples of Synthetic Security Collateral in a sentence

  • In such cases, the Collateral Manager on behalf of the Issuer will purchase an item of Synthetic Security Collateral and pledge to the related Synthetic Security Counterparty a first priority security interest in such Synthetic Security Collateral.

  • In the event that no Credit Event under a Synthetic Security structured as a default swap occurs prior to the termination or maturity of such Synthetic Security, the related Synthetic Security Collateral will be released from the lien of the Synthetic Security Counterparty and be treated as a Collateral Debt Obligation or Eligible Investment to the extent it meets the definition of such terms upon the termination or maturity of such Synthetic Security.

  • The Collateral Manager has no right to sell or transfer any Synthetic Security Collateral until the applicable Synthetic Security is terminated or matures, even under circumstances where the Synthetic Security Collateral deteriorates in credit quality.

  • The Issuer has no right to sell or transfer any Synthetic Security Collateral until the applicable Synthetic Security is terminated or matures, even under circumstances where the Synthetic Security Collateral deteriorates in credit quality.

  • The Issuer shall grant to the Trustee a second priority security interest in any Synthetic Security Collateral, and shall cause the Synthetic Security Counterparty and the custodian or other third party (including, if applicable, the Trustee as collateral agent) holding the Synthetic Security Collateral to be notified of and acknowledge such second priority security interest.

  • In the event a Credit Event occurs under a Synthetic Security structured as a default swap, the related Synthetic Security Collateral will be delivered to the related Synthetic Security Counterparty in exchange for the Deliverable Obligation.

  • In the event the Trustee acts as collateral agent with respect to Synthetic Security Collateral, the Trustee shall deposit such Synthetic Security Collateral in one or more segregated trust accounts, which shall be held in trust in the name of the Trustee, as collateral agent, for the benefit of the related Synthetic Security counterparty, and shall apply the funds on deposit in such account(s), all in accordance with the terms of the related Synthetic Security.

  • The document has been prepared by each Municipality’s respective legal Counsel.

  • In addition, the Issuer may realize a loss upon any disposition of any Synthetic Security Collateral, which may adversely affect the return on the Notes.

  • The Issuer will also grant to the Trustee for the benefit of the Holders of the Co-Issued Notes a security interest in any Synthetic Security Collateral, subject to the prior security interest of the related Synthetic Security Counterparty, and will notify such Synthetic Security Counterparty of such security interest and obtain such Synthetic Security Counterparty's acknowledgment of the Trustee's security interest.


More Definitions of Synthetic Security Collateral

Synthetic Security Collateral means, in connection with any Synthetic Security, (i) any floating rate security that is rated “AAA” by Standard & Poor’s or “AAA” by Fitch and “Aaa” by Moody’s and matures no later than the Stated Maturity, the expected average life of which does not exceed the expected average life of the related Reference Obligation by more than one year, and which is a credit card security that entitles the holders thereof to receive payments that depend on the cash flow from balances outstanding under revolving consumer credit card accounts, (ii) any Eligible Investment or any investment of a type described in the definition of “Eligible Investments” but with respect to which the counterparty thereto has a long term rating of not less than “A” by Standard & Poor’s, not less than “A” by Fitch and not less than “Aa3” by Moody’s (and, if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade by Moody’s) or a short term credit rating of not less than “A-1” by Standard & Poor’s, not less than “F1” by Fitch and “P-1” by Moody’s (and such rating is not on watch for possible downgrade by Moody’s) at the time of such investment, (iii) commercial paper maturing no later than the Business Day prior to the Distribution Date next succeeding the date of investment in such commercial paper having at the time of such investment a credit rating of “P-1” by Moody’s (and such rating is not on watch for possible downgrade by Moody’s), not less than “F1” by Fitch and not less than “A-1” by Standard & Poor’s or (iv) other investments the acquisition of which would satisfy the Rating Condition, in each case which mature no later than the Stated Maturity and on the date such Synthetic Security Collateral is acquired by the Issuer, such person (or the guarantor of such person’s obligations under such Synthetic Security) satisfies the Synthetic Security Counterparty Ratings Requirement.
Sample 1
Synthetic Security Collateral means any assets which are Eligible Investments which may be sold at any time without market risk (provided that if any credit protection payments to be paid under the Synthetic Securities can only be paid on the maturity date of such Eligible Investments then such Eligible Investments may bear market risk), comprising collateral required to be delivered by the Issuer as security for its obligations to any Synthetic Security Obligor under any Synthetic Security pursuant to the terms thereof. References to the price payable upon the acquisition of or entry into a Synthetic Security acquired or entered into by the Issuer on an unfunded basis shall be deemed to be the aggregate principal amount of Synthetic Security Collateral required to be delivered by the Issuer to the applicable Synthetic Security Obligor.
Sample 1

Related to Synthetic Security Collateral

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Security Collateral with respect to any Granting Party, means, collectively, the Collateral (if any) and the Pledged Collateral (if any) of such Granting Party.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Equity Collateral shall have the meaning set forth in Section 11.6 hereof.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • U.S. Collateral means any and all property owned, leased or operated by a Person covered by the U.S. Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Purchase-money collateral means goods or software that secures a purchase-money obligation incurred with respect to that collateral; and

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Stock Collateral means, collectively, the Collateral described in clauses (a) through (c) of Section 3 hereof and the proceeds of and to any such property and, to the extent related to any such property or such proceeds, all books, correspondence, credit files, records, invoices and other papers.

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.

  • Letter of Credit Collateral has the meaning provided in Section 6.4.

  • UCC Collateral is defined in Section 3.03.

  • Canadian Collateral means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Canadian Secured Obligations.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Foreign Collateral means all Collateral of Foreign Loan Parties securing the Guaranteed Foreign Obligations.

  • Hedge Collateral Defined in Section 5.3(b).

  • Patent Collateral means all Patents, whether now owned or hereafter acquired by the Company that are associated with the Business.