BBD definition
Examples of BBD in a sentence
Neither the inclusion of this Article IX in this Indenture Supplement nor the compliance by any Person with, or the acknowledgement by any Person of, this Article’s provisions constitutes an agreement or acknowledgment by any Person that, in the case of an insolvency proceeding with respect to BBD, a receiver or conservator will have any rights with respect to the Trust Assets.
Pursuant to the Asset Representations Reviewer Agreement, BBD, in its individual capacity, has engaged and the Issuer has appointed ▇▇▇▇▇▇▇ Fixed Income Services LLC, a Delaware limited liability company, as the Asset Representations Reviewer to perform the obligations of the Asset Representations Reviewer as set forth therein and herein, respectively.
For purposes of this section, a wholly-owned affiliate of BBD will include any person, other than the Issuer, that directly or indirectly, wholly controls (i.e., owns 100% of the equity in such person), is wholly controlled by, or is wholly under common control with, BBD.
Not later than sixty days after receipt of the full report from the Asset Representations Reviewer, BBD, in its individual capacity, shall determine whether any instance of noncompliance with the ARR Representations and Warranties constitutes a breach of any contractual provision under the Transaction Documents and whether or not to direct a reassignment of any of the Receivables subject to the ARR Review.
The Transferor may not sell or otherwise transfer any interest or assets that it is required to hold pursuant to Regulation RR unless such sale or transfer is to a wholly-owned affiliate of BBD.
BBD, in its individual capacity, shall pay all costs, expenses and liabilities incurred by the Indenture Trustee, the Transferor and the Issuer in connection with the voting process.
If Party A is dissolved or becomes bankrupt, Party B shall be entitled to take part in dissolution or bankruptcy proceedings against Party A, and to report its claims, even if Party B's claims under the principal contracts do not become due.
If an instrument of acceptance by a successor Asset Representations Reviewer shall not have been entered into and delivered to BBD within thirty (30) calendar days of the Termination Notice Date, BBD may petition a court of competent jurisdiction for the appointment of a successor Asset Representations Reviewer.
It will notify BBD promptly if it no longer meets the ARR Eligibility Requirements.
Such Person will execute and deliver to BBD an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law).