Underlying Debtors definition

Underlying Debtors means each of the underlying obligors who are obligated as debtors on a Loan from an SPE Obligor.
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Examples of Underlying Debtors in a sentence

  • With respect to each Pooled Obligor Loan, the underlying loan documents and other collateral pledged by the Underlying Debtors is held by an Underlying Custodian for the benefit of the Originator and its assignees.

  • The Italian SPV is subject to the risk of default in payment by the Underlying Debtors, including any failure by the Italian SPV Servicer to collect or recover sufficient funds in respect of the Underlying Claims for the Italian SPV to discharge all amounts payable under the Italian Notes.

  • The Issuer is therefore, albeit indirectly, also subject to the credit risk of the Underlying Debtors defaulting on their obligations in respect of the Underlying Claims.

  • There can be no guarantee that the Underlying Debtors will not default under the Non-Performing Loans and/or that they will continue to perform thereunder.

  • In fact, it is highly likely that one or more Underlying Debtors could fail to make payments in respect of the Non-Performing Loans.

  • The Italian SPV is subject to the risk of delay arising between the scheduled payment dates for the Underlying Claims and actual receipt of payments due from Underlying Debtors.

  • The lack of diversification in terms of the type of Underlying Claims means that the materialisation of any number of risks adversely affecting those markets as a whole (including but not limited to a severe or extended economic downturn of Italy’s economy) will impact the financial condition of both the Underlying Debtors and the Italian SPV and the ability of the Italian SPV to meet its obligations to the Issuer in respect of the Italian Notes.

  • As the Italian Notes constitute a substantial portion of the Asset Pool, any delay in payments due by the Underlying Debtors to the Italian SPV in respect of the Underlying Claims could result in a delay in payments due by the Italian SPV to the Issuer under the Italian Notes, which could in turn result in a delay in payments due by the Issuer to Noteholders under the Notes.

  • Adverse changes in economic conditions, in particular, may affect the ability of the Underlying Debtors to repay the Non-Performing Loans.

  • None of the Issuer, the Directors, the Trustee and the Agent, will carry out or is obliged to carry out any due diligence in respect of any of the Underlying Claims assigned and transferred to the Italian SPV that will back the issue of the Italian Notes, nor will any of them undertake any investigation, search or other action to verify the details of the Underlying Claims or to establish the creditworthiness of the Underlying Debtors.

Related to Underlying Debtors

  • Underlying Instruments The loan agreement, credit agreement, indenture or other agreement pursuant to which a Loan or Permitted Investment has been issued or created and each other agreement that governs the terms of or secures the obligations represented by such Loan or Permitted Investment or of which the holders of such Loan or Permitted Investment are the beneficiaries.

  • Underlying Documents means, together, the Contracts, the Refund Guarantees, the Supervision Agreements and the Management Agreements and "Underlying Document" means any of them.

  • Underlying Obligor means with respect to an Underlying Obligation, the issuer in the case of a Bond, the borrower in the case of a Loan, or the principal obligor in the case of any other Underlying Obligation.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • Underlying Company means the issuer of the relevant Security as specified above, in each case subject to adjustment in accordance with Condition 13 (Adjustments).

  • Underlying Instrument means the loan agreement, credit agreement or other customary agreement pursuant to which a Collateral Obligation has been created or issued and each other agreement that governs the terms of or secures the obligations represented by such Collateral Obligation or of which the holders of such Collateral Obligation are the beneficiaries.

  • Underlying Trust Means the "Trust Fund" as defined in the Underlying Agreement.

  • Underlying Asset means the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.

  • Underlying Agreement means an agreement that is an underlying agreement for the purposes of paragraph 48 or Schedule 6 to the Act.

  • Receivables Documents means all documentation relating to any receivables financing program providing for the sale of Receivables Facility Assets by the Borrower and its Subsidiaries (whether or not to a Receivables Subsidiary) in transactions purporting to be sales and shall include the Receivables Securitization Program Documents.

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.

  • Securities Documents means all reports, offering circulars, proxy statements, registration statements and all similar documents filed, or required to be filed, pursuant to the Securities Laws.

  • Underlying Securities Trustee means The Bank of New York.

  • Mortgage Documents With respect to each Mortgage Loan, the mortgage documents required to be delivered to the Custodian pursuant to each Custodial Agreement.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Underlying Market means the relevant market where the Underlying Asset of a CFD is traded.

  • Noteholder Documents means (a) the Indenture, the Notes and the Noteholder Collateral Documents and (b) any other related document or instrument executed and delivered pursuant to any Noteholder Document described in clause (a) above evidencing or governing any Obligations thereunder.

  • DIP Documents means the DIP ABL Documents and the DIP Term Loan Documents.

  • Prepetition Agent means Goldman Sachs Bank USA in its capacity as administrative agent and collateral agent under the Prepetition Credit Agreement.

  • Securitization Documents means all documentation relating to any Permitted Securitization.

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Prepetition means arising or accruing prior to the Petition Date.

  • Settlement Lien means any Lien relating to any Settlement or Settlement Indebtedness (and may include, for the avoidance of doubt, the grant of a Lien in or other assignment of a Settlement Asset in consideration of a Settlement Payment, Liens securing intraday and overnight overdraft and automated clearing house exposure, and similar Liens).

  • Purchase Agreement Collateral has the meaning specified in Section 6.9 of this Agreement.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.