ABS Collateral definition

ABS Collateral all property and assets that are pledged under any ABS Document or any document delivered pursuant thereto, provided that "ABS Collateral" shall include property and assets pledged under any ABS Document after any amendment to the same only to the extent such property and assets are, or are of the same general type as, property and assets pledged on the Closing Date.
View Source
ABS Collateral means, in respect of a Series of Notes, the Asset Backed Securities meeting the ABS Eligibility Criteria;
View Source

Examples of ABS Collateral in a sentence

  • Failure to deliver a Sales Confirmation with respect to any Expected ABS Collateral shall result in such assets being ineligible for inclusion in the Collateral.

  • The terms and conditions set forth in any Collateral Consent or ABS Collateral Conveyance Agreement shall be deemed an amendment to this Agreement to the extent set forth therein.

  • The Servicer shall also enforce all rights of the Borrower under the Purchase Agreement, each ABS Collateral Conveyance Agreement and each Transfer Agreement including the right to require Santander Consumer to repurchase ABS Assets or Receivables for breaches of representations and warranties made by Santander Consumer.

  • Without the prior written consent of the Deal Agent, the Borrower will not amend, modify, waive or terminate any provision of its Formation Documents, any ABS Collateral Conveyance Agreement, any Transfer Agreement or the Purchase Agreement.

  • With respect to Expected ABS Collateral that is Legacy CMBS Collateral, it is understood and agreed that the Eligible Collateral Schedule shall not include any assets with respect to which the Sales Confirmation has not been delivered to Lender and Custodian in accordance with the first paragraph of this Section 3.3.

  • The Borrower will deliver to the Deal Agent for further remittance to the ABS Collateral Account promptly (but in no event later than two Business Days after receipt) all ABS Collections received by the Borrower in respect of the ABS Assets.

  • To the extent there are uninvested amounts on deposit in the ABS Collateral Account, such amounts shall be invested in Permitted Investments that mature no later than the Business Day before the next Payment Date, which Permitted Investments shall be selected by the Servicer.

  • ABS Advance Rate: Except as may otherwise be provided for in a Collateral Consent or an ABS Collateral Conveyance Agreement, 100%.

  • Triple B Margin: Except as may otherwise be provided for in a Collateral Consent or an ABS Collateral Conveyance Agreement or as may be requested by the Borrower and agreed to by the Lenders in writing or as may be modified pursuant to the Repricing Principles, for any day during: (i) a Tier 1 Leverage Ratio Period, 1.50% per annum; (ii) a Tier 2 Leverage Ratio Period, 2.50% per annum; (iii) a Tier 3 Leverage Ratio Period, 3.75% per annum; or (iv) a Tier 4 Leverage Ratio Period, 4.25% per annum.

  • Single B Margin: Except as may otherwise be provided for in a Collateral Consent or an ABS Collateral Conveyance Agreement or as may be requested by the Borrower and agreed to by the Lenders in writing or as may be modified pursuant to the Repricing Principles, for any day during: (i) a Tier 1 Leverage Ratio Period, 1.95% per annum; (ii) a Tier 2 Leverage Ratio Period, 2.95% per annum; (iii) a Tier 3 Leverage Ratio Period, 4.20% per annum; or (iv) a Tier 4 Leverage Ratio Period, 4.70% per annum.

Related to ABS Collateral

  • 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.

  • UCC Collateral is defined in Section 3.03.

  • Excess Collateral has the meaning set forth in Section 5.7.

  • Receivables Collateral That portion of the Collateral which consists of Accounts, Accounts Receivable, General Intangibles, Chattel Paper, Instruments, Documents of Title, Documents, Investment Property, Payment Intangibles, Letter-of-Credit Rights, bankers' acceptances, and all other rights to payment.

  • 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.