Approved Securitization definition

Approved Securitization means that certain securitization program established and maintained by the Domestic Borrower, the SPV and the Subsidiary Originators pursuant to the Securitization Documents with respect to accounts receivables generated by the staffing solutions business of the Domestic Borrower and certain of its Subsidiaries pursuant to which (x) the Domestic Borrower may sell, convey or otherwise transfer to the SPV any Securitization Assets and (y) the SPV may sell, convey or otherwise transfer to the Securitization Conduit the Securitization Assets (or an undivided percentage ownership interest therein) or may grant to the Securitization Conduit a security interest in the Securitization Assets (or such percentage ownership interest); provided, however, that

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Approved Securitization is amended to change "$150,000,000" in the proviso to clause (iii) thereof to "$200,000,000."

Approved Securitization means (a) the Existing Approved Securitization and (b) at any time after the termination of the Existing Approved Securitization, a Replacement Approved Securitization.

Examples of Approved Securitization in a sentence

It is understood and agreed that "discontinuation" of the Approved Securitization, as referenced in this Agreement, shall include within its meaning the termination of the obligation of the Securitization Conduit to purchase the "Participation Interest" or make "Reinvestments" (as those terms are defined in the Receivables Purchase Agreement), but shall not preclude the liquidation contemplated therein.
Prior to the discontinuation of the Approved Securitization, the Domestic Borrower shall cause all or substantially all of the accounts receivable originated from the staffing solutions business of the Domestic Borrower and its Subsidiaries to be sold, conveyed or otherwise transferred (directly, or indirectly through the Domestic Borrower) to the SPV as part of the Approved Securitization.
The Domestic Borrower, in its sole discretion, shall be entitled to continue or discontinue the Approved Securitization except to the extent that it is required to discontinue the same pursuant to this Section 5.11.
Notwithstanding the preceding two sentences, unless a Default shall have occurred and be continuing, extensions or renewals of the term of the Approved Securitization, on the same terms and conditions, shall be permitted without the consent of the Administrative Agent or any Lender.
Prior to its dissolution on or about November 1, 2004, VIS Funding was a corporation which originally had been formed in connection with a securitization transaction entered into prior to the Approved Securitization, and which is no longer in effect.
The Company has no active Subsidiaries as of the date of this Agreement, other than a bankruptcy remote special purpose Subsidiary formed and operated for the limited purposes of a State Approved Securitization.
Permit the Borrower at any time to have unrestricted cash and availability under the Approved Securitization totaling less than $15,000,000.
Prior to the discontinuation of the Approved Securitization, the Borrower shall cause all or substantially all of the accounts receivable originated from the staffing solutions business of the Borrower and its Subsidiaries to be sold, conveyed or otherwise transferred (directly, or indirectly through the Borrower) to the SPV as part of the Approved Securitization.
The Company’s Subsidiaries (as defined): PNM Energy Transition Bond Company I, LLC is bankruptcy remote special purpose entity formed and operated for the limited purposes of a State Approved Securitization.

More Definitions of Approved Securitization

Approved Securitization means any securitization in a capital market transaction or private placement offering wherein MUFG or an affiliate thereof acts as the primary arranger in which the Borrower sells Loan Assets pledged hereunder, directly or indirectly, to an Affiliate or an affiliated entity that issues or arranges for the issuance of asset-backed debt obligations (whether in the form of notes or revolving and/or term loans) collateralized, in whole or in part, by such Loan Assets.

Approved Securitization. Any private or public term or conduit securitization transaction, including any collateralized loan obligation or collateralized debt obligation offering or other asset securitization, (a) for which the Collateral Manager or an affiliate thereof acts as the collateral manager, (b) either (i) in which a CLO Subsidiary serves as the issuing or borrowing entity in the offering or (ii) to which transfers of all of the Collateral Obligations then held by the Borrower Parties are made (A) pursuant to a master participation agreement, (B) by means of a sale of the Equity Interests of a CLO Subsidiary, (C) by means of a merger of such CLO Subsidiary into an issuing or borrowing entity or (D) by means of an indirect sale to another issuing or borrowing entity through a broker-dealer, in each case, that is reasonably satisfactory to the Administrative Agent, (c) that generates enough Cash proceeds to pay the unpaid principal amount of, and accrued and unpaid Interest on, the Outstanding Funded Loans and (d) an affiliate of the Administrative Agent acts as placement agent, unless otherwise waived by the Administrative Agent in its sole discretion.

Approved Securitization has the meaning specified in Section 7.02. ------------