Securitization Subsidiary Clause Samples

The Securitization Subsidiary clause defines a specific type of subsidiary established by a company for the purpose of facilitating securitization transactions. Typically, this subsidiary is structured to hold financial assets, such as receivables or loans, which are then packaged and sold to investors as securities. By isolating these assets from the parent company’s balance sheet, the clause ensures that the risks and obligations associated with the securitized assets are contained within the subsidiary. This structure is essential for enabling securitization, protecting the parent company from related liabilities, and making the assets more attractive to investors.
Securitization Subsidiary. The Borrower shall not form any new Securitization Subsidiary without the prior written consent of the Administrative Agent and delivery to the Administrative Agent of a complete set of all agreements, documents, certificates and opinions for such Securitization Subsidiary acceptable to the Administrative Agent in its sole discretion. The Borrower shall cause the Constituent Documents of each Securitization Subsidiary to prohibit any transfer of the equity in such Securitization Subsidiary without the prior written consent of each of the Administrative Agent and the board of directors of such Securitization Subsidiary, unless such transfer is in connection with a Securitization.
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Securitization Subsidiary. 16 Security" and "Securities...................................16 Security Register" and "Security Registrar..................16
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Securitization Subsidiary. Section 8.12 of the Credit Agreement (Additional Subsidiaries) requires that any new Subsidiary of a Borrower must, inter alia, be joined as a Borrower under the Credit Agreement. Lenders hereby waive the requirement that a Securitization Subsidiary join the Credit Agreement as a Borrower. In addition, Lenders hereby waive a Securitization Subsidiary's compliance with the negative covenants found in Article 10 of the Credit Agreement, other than in Section 10.1 of the Credit Agreement.
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Securitization Subsidiary. Hold, keep or maintain with or in, or sell, assign or transfer to either Securitization Subsidiary any property or asset, or conduct any transaction with, or cause or permit any Securitization Subsidiary to enter into any agreements or create or incur any obligations whatsoever, it being understood that each such Securitization Subsidiary shall at all times remain a dormant entity with no assets or liabilities.
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Securitization Subsidiary. Other than such capital stock and promissory notes, true and correct copies of which have been delivered to the Administrative Agent on or before November 25, 2002, there exists no document or instrument evidencing any Investment by Avnet in any Securitization Subsidiary. As of November 25, 2002, no Securitization Subsidiary is directly or indirectly liable for any of the Obligations."
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Securitization Subsidiary. The Borrower hereby agrees that the failure to deliver such legal opinion to the Administrative Agent by such date shall constitute an immediate Event of Default.
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Related to Securitization Subsidiary

  • Subsidiary For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

  • PORTFOLIO HOLDINGS The Adviser will not disclose, in any manner whatsoever, any list of securities held by the Portfolio, except in accordance with the Portfolio’s portfolio holdings disclosure policy.

  • any Subsidiary of an Unrestricted Subsidiary The Issuer may designate any Subsidiary of the Issuer (including any existing Subsidiary or any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Issuer or any Restricted Subsidiary of the Issuer (other than solely any Subsidiary of the Subsidiary to be so designated); provided that (1) any Unrestricted Subsidiary must be an entity of which the Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a similar function are owned, directly or indirectly, by the Issuer; (2) such designation complies with Section 10.10; and

  • Material Subsidiary Prompt notice of any Person becoming a Material Subsidiary;

  • Organization; Subsidiaries (a) The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware and has the requisite corporate power and corporate authority to carry on its business as it is now being conducted or presently proposed to be conducted. To the Company's Knowledge, the Company is duly qualified and licensed as a foreign corporation to do business and is in good standing (and has paid all relevant franchise or analogous taxes) in each jurisdiction where the character of its assets owned or held under lease or the nature of its business makes such qualification necessary, except where the failure to be so qualified or licensed, individually or in the aggregate, has not had and would not reasonably be expected to have a Material Adverse Effect. (b) The Company owns, either directly or indirectly through one or more of its Subsidiaries, all of the capital stock or other equity interests of its Subsidiaries free and clear of all Liens, except those Liens pursuant to the credit and other loan agreements existing as of the date hereof. There are no outstanding subscription rights, options, warrants, convertible or exchangeable securities or other rights of any character whatsoever relating to issued or unissued capital stock or other equity interests of any Subsidiary, or any commitments of any character whatsoever relating to issued or unissued capital stock or other equity interests of any Subsidiary or pursuant to which any Subsidiary is or may become bound to issue or grant additional shares of its capital stock or other equity interests or related subscription rights, options, warrants, convertible or exchangeable securities or other rights, or to grant preemptive rights. (c) Each Subsidiary is a corporation, limited liability company, partnership, business association or other Person duly organized, validly existing and in good standing (in jurisdictions where such concept is recognized) under the Laws of the jurisdiction of its organization and has the requisite corporate power and authority to carry on its business as it is now being conducted. To the Company's Knowledge, each Subsidiary of the Company is duly qualified and licensed as a foreign corporation or other business entity to do business and is in good standing (and has paid all relevant franchise or analogous taxes) in each jurisdiction where the character of its assets owned or held under lease or the nature of its business makes such qualification necessary, except where the failure of one or more Subsidiaries to be so qualified or licensed, individually or in the aggregate, has not had and would not be reasonably expected to have a Material Adverse Effect.