Asset Securitization Subsidiary definition
Asset Securitization Subsidiary means (i) any Subsidiary engaged solely in the business of effecting asset securitization transactions permitted by this Agreement and activities incidental thereto or (ii) any Subsidiary whose primary purpose is to hold title or ownership interests in vehicles, equipment, leases, mortgages, relocation assets, financial assets and related assets under management.
Asset Securitization Subsidiary means (i) any Subsidiary engaged solely in the business of effecting asset securitization transactions permitted by this Agreement and activities incidental thereto or (ii) any Subsidiary whose primary purpose is to hold title or ownership interests in mortgages, relocation assets and related assets under management.
Examples of Asset Securitization Subsidiary in a sentence
In addition, an Asset Securitization Subsidiary may wind-up, liquidate or dissolve provided that immediately prior to and on a Pro Forma Basis after giving effect to such transaction no Default or Event of Default has occurred and is continuing.
In addition, an Asset Securitization Subsidiary may wind-up, liquidate or dissolve provided that immediately prior to and on a Pro Forma Basis after giving effect to such transaction no Default or Event of Default (as defined in either the Credit Agreement or PHH Credit Agreement) has occurred and is continuing.