ABS Transaction definition

ABS Transaction means an issuance, whether by public offering or private placement (whether under Rule 144A promulgated under the Securities Act of 1933 or otherwise), by an ABS Issuer of any asset-backed securities secured by, or representing an interest in, any Aircraft Assets, and/or beneficial interests in any Borrower Subsidiaries, which Aircraft Assets, and/or beneficial interests in Borrower Subsidiaries, shall have been transferred to such ABS Issuer and/or any Subsidiaries thereof by the Borrower and/or certain Borrower Subsidiaries pursuant to an ABS Asset Purchase Agreement.

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ABS Transaction means a transaction whereby the Oil and Gas Properties or the Equity Interests of an entity owning Oil and Gas Properties, in each instance, owned by the Borrower or a Subsidiary of the Borrower are transferred to Diversified or a Subsidiary of Diversified (other than the Borrower and its Subsidiaries) and such Oil and Gas Properties are securitized in a financing with third parties.

ABS Transaction means the asset-backed securitization transaction pursuant to which Securitization Issuer issues or incurs Debt, (a) that is sold to Qualified Institutional Buyers in reliance on Rule 144A under the Securities Act and outside of the United States of America to Non-U.S. Persons in transactions in reliance on Regulation S under the Securities Act, and (b) that is secured by certain cash flows and proceeds from the applicable Projects.

Examples of ABS Transaction in a sentence

• Notwithstanding the foregoing, the Servicer shall only be required to maintain the Contingent and Excess Liability Insurance Policy that is required to be maintained by the Servicer in the most recent Public ABS Transaction; provided, that if no such Contingent and Excess Liability Insurance Policy is required to be maintained in the most recent Public ABS Transaction, then no such Contingent and Excess Liability Insurance Policy shall be required hereunder.

• Notwithstanding anything herein to the contrary, if a subsequent Public ABS Transaction calls for changes in making monthly deposits to the related collection account, then, if the Rating Agency Condition is satisfied, the Servicer will no longer be bound by the Monthly Remittance Condition hereunder, and will instead be subject to the conditions to making monthly deposits as required by the subsequent Public ABS Transaction.

• Notwithstanding anything herein to the contrary, if a subsequent Public ABS Transaction calls for changes in making monthly deposits to the related collection account, then, if the Rating Agency Condition shall have been satisfied, the Servicer will no longer be bound by the Monthly Remittance Condition hereunder, and will instead be subject to the conditions to making monthly deposits as required by the subsequent Public ABS Transaction.

• The Seller is only required to pay any indemnity payments pursuant to this Section 6.03 to the extent funds are available after making the required monthly distributions in connection with any Public ABS Transaction for which the Seller, or any United States Affiliate thereof, acts as a depositor or to the extent it receives additional funds designated for such purposes.

• The Borrower shall not acquire, and shall not cause or permit any Borrower Subsidiary to acquire any aircraft other than (i) an Aircraft, or (ii) from another Borrower Subsidiary in connection with an ABS Transaction.

• Permitted ABS Financing Agreement: an agreement entered into in connection with a Permitted ABS Transaction, including an indenture, by and between a Securitization Subsidiary and a Permitted ABS Agent, whereby a Securitization Subsidiary grants a security interest in, or deposits into trust, Contracts and which prior to its execution by such Securitization Subsidiary.

• On or before the Note Initial Increase Date, the Issuer shall have taken such other action as required by the ABL Agreement to cause, the transactions contemplated hereby to be classified as a Permitted ABS Transaction under the ABL Agreement.

• Upon the closing of an ABS Transaction, the Borrowing Base will be automatically reduced by an amount equal to the Borrowing Base Value attributable to the Borrowing Base Properties (or such Borrowing Base Properties owned by any Group Member whose Equity Interests were sold) transferred in connection with such ABS Transaction in the current Borrowing Base.

• The Debt under the ABS Transaction is not refinanced or repaid in full on or prior to the date that is nine (9) months prior to the Anticipated Repayment Date (as such term is defined and used in the ABS Transaction Documents).

• Permitted ABS Purchase Agreement: any agreement by and between one or more Borrowers and a Securitization Subsidiary in connection with a Permitted ABS Transaction for the purpose of effecting one or more transfers of Contracts.

More Definitions of ABS Transaction

ABS Transaction means a securitization sponsored by the Originator, pursuant to which, the Originator sells Receivables to a special purpose entity which issues term securities backed by such Receivables in either a public offering or an offering pursuant to Rule 144A.

ABS Transaction means an asset-backed securitization transaction pursuant to which an ABS Entity issues or incurs Debt, (a) sold either to (i) Institutional Accredited Investors (as defined under Rule 501(A)(1), (2), (3) or (7) under the Securities Act) in reliance on a private placement exemption from registration under the Securities Act or (ii) Qualified Institutional Buyers in reliance on Rule 144A under the Securities Act and outside of the United States of America to Non-U.S. Persons in transactions in reliance on Regulation S under the Securities Act, and (b) that is secured by certain cash flows and proceeds from the applicable Projects, the Net Cash Proceeds in respect of which are applied in accordance with Section 5.1.4(b) and, in any event, (x) for which the Lender has provided its prior written consent and (y) with respect to which, substantially concurrently with the issuance or incurrence of such Debt, Borrower has taken or caused to be taken all such actions requested by the Lender in order to comply with Section 8.1.14(d).

ABS Transaction means the first issuance of asset-backed securities by the Master Trust or Navistar Financial Dealer Note Master Owner Trust, a Delaware statutory trust, after the Fourth Amendment Effective Date in which the highest rated class of such asset-backed securities is rated at least “AAA” or its equivalent by not less than two of Fitch, S&P and ▇▇▇▇▇’▇.