Term Takeout definition

Term Takeout means any disposal of any or all Purchased Receivables by the Issuer, directly or indirectly, to a company that issues asset backed securities secured by Receivables or other assets originated or acquired by a member of Volkswagen Group in connection with term issuances of debt instruments of such separate company.
Sample 1Sample 2Sample 3
Term Takeout. Any transaction, whether a whole-loan sale, a term securitization or any other financing that results in a repayment of all or a portion of the Advances Outstanding under the Receivables Purchase Agreement.
Sample 1
Term Takeout means any disposal of any or all Purchased Receivables by the Issuer to a company that issues asset backed securities secured by Receivables or other assets originated or acquired by a member of Volkswagen Group in connection with term issuances of debt instruments of such separate company.
Sample 1

Examples of Term Takeout in a sentence

  • No principal shall be paid on the Notes during the Revolving Period, except: (1) to the extent the relevant Series of Notes qualifies as an Amortising Series; or (2) in the context of a disposal of assets by the Issuer as set out in clause 6 (Early Settlement, Interest Compensation Event, Clean-up Call, Term Takeout) of the Receivables Purchase Agreement.

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and representations as set out in Clause 8.1 (Warranties and Representations) of this Agreement at the time of the transfer to the Transferee.

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and representations as set out in Clauses 8.1 (Warranties and Representations) of this Agreement at the time of the transfer to the Transferee.

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and guarantees as set out in Clauses 8.1 of this Agreement at the time of the transfer to the Transferee.

  • The selection of Term Takeout Vehicles will be made on a random basis (taking into account, however, the representations and warranties of the Seller as set out in clause 10.1 (Representations and Warranties relating to the Leased Assets) of the Master Hire Purchase Agreement).

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and representations as set out in clause 10.1 (Warranties and Representations) of this Agreement at the time of the transfer to the Transferee.

  • The selection of Term Takeout Vehicles will be made on a random basis and the proceeds from any Term Takeout will be paid into the Distribution Account but will not be applied according to the Order of Priority but instead be distributed as separately provided in clause 16.2(b) of the Trust Agreement.