Restricted Collateral Transactions Clause Samples

Restricted Collateral Transactions. If any Party that is a party to a Collateralized TRS Agreement determines that any Reference Transaction (as defined in the applicable Collateralized TRS Agreement) other than an existing Full Recourse Reference Transaction (as defined in the applicable Collateralized TRS Agreement) is a Restricted Collateral Transaction, then the Seller Party that is a party to such Collateralized TRS Agreement agrees either to (i) designate such Restricted Collateral Transaction as a Full Recourse Reference Transaction under such Collateralized TRS Agreement effective as of the Closing Date or (ii) enter into another arrangement to afford the Purchaser all economic benefits associated with the relevant collateral satisfactory to the Purchaser in its good faith discretion following consultation in good faith with the other party. “Restricted Collateral Transaction” means, with respect to a Collateralized TRS Agreement, any Reference Transaction with respect to which, for reasons of (a) the relevant Seller’s contractual obligations or commitments to the relevant Reference Counterparty or other creditors of such Reference Counterparty, (b) any restriction or subordination of security over such collateral to liens of a lending syndicate or other creditors or (c) similar material and substantial restrictions, it will be commercially impracticable for the relevant Seller to transfer the collateral securing such Reference Transaction to the Purchaser or its Affiliates in connection with a novation of the relevant Reference Transaction pursuant to Section 7.11.

Restricted Collateral Transactions. If any Party that is a party to a Collateralized TRS Agreement determines that any Reference Transaction (as defined in the applicable Collateralized TRS Agreement) other than an existing Full Recourse Reference Transaction (as defined in the applicable Collateralized