Collateral Opinion definition

Collateral Opinion means, with respect to any Collateral which is not part of the Initial Collateral, an opinion or opinions of counsel to the Borrowers with respect to (i) the perfection and priority in all applicable foreign or domestic jurisdictions of the security interest (or foreign jurisdiction equivalent) of the Lender Agent in such Collateral under the Security Agreement acceptable to the Lender Agent in its sole and absolute discretion, (ii) the organization and qualification of the affected Obligors, (iii) the authorization, execution, delivery and enforceability of this Agreement, the Security Agreement (each as amended) and other agreements related to such Collateral as the Lender shall request and (iv) such other matters as the Lender Agent shall reasonably request.
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Collateral Opinion means a reasoned opinion of counsel in form and substance satisfactory to S&P affirming, subject to customary qualifications and assumptions for such an opinion, that upon the bankruptcy of the Transferee the Counterparty will have the right to terminate this Agreement (as so assigned or transferred) or any replacement agreement, net amounts owed hereunder or thereunder and liquidate the collateral posted by the Transferee pursuant to the Credit Support Annex without obtaining the prior approval of a court overseeing the bankruptcy of the Transferee.
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Collateral Opinion means, with respect to any Collateral which is not part of the Initial Collateral, an opinion or opinions of counsel to the Borrowers with respect to (i) the perfection and priority in all applicable foreign or domestic jurisdictions of the security interest (or foreign jurisdiction equivalent) of GMAC LLC in such Collateral under the Fourth Security Agreement acceptable to the Credit Agent in its sole and absolute discretion, (ii) the organization and qualification of the affected Obligors, (iii) the authorization, execution, delivery and enforceability of this Agreement, the Omnibus Security Agreement, the Fourth Security Agreement (each as amended) and other agreements related to such Collateral as the Credit Agent shall request and (iv) such other matters as the Credit Agent shall reasonably request.
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Examples of Collateral Opinion in a sentence

  • You should always verify that the Collateral Opinion attached to (and referred to in) the Collateral Report (and on which the report is based) is the latest version of the opinion or memoranda for the jurisdiction published on the ISDA website.

  • ISDA's website (▇▇▇.▇▇▇▇.▇▇▇) is the official source for such opinions and memoranda and there may be circumstances where an amended or updated Collateral Opinion has been published on the ISDA website but the Collateral Report for the jurisdiction has not yet been updated.

  • We also confirm that the Transfer Annex Conclusions (as defined in paragraph 4 of Part B below) in paragraph 4 of Part C of our Collateral Opinion would apply if the Master Agreement and Transfer Annex were governed by Australian law.

  • This decision reinforces the operation of the Transfer Annex by the “absolute transfers” approach as described in paragraph 5(a) of the Annex, whereby transfers of Eligible Credit Support are “absolute transfers” (as further described in Schedule 2 of our Collateral Opinion).


More Definitions of Collateral Opinion

Collateral Opinion means our legal opinion “Validity and Enforceability of Collateral Arrangements under the ISDA Credit Support Documents - Issues and Analysis under Japanese Law” dated 7 December 2015 addressed to ISDA;
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Related to Collateral Opinion

  • Collateral Obligation means a Loan owned by the Borrower, excluding the Retained Interest thereon.

  • Schedule of Collateral Obligations means the list or lists of Collateral Obligations attached to each Asset Approval Request and each Reinvestment Request. Each such schedule shall identify the assets that will become Collateral Obligations, shall set forth such information with respect to each such Collateral Obligation as the Borrower or the Facility Agent may reasonably require and shall supplement any such schedules attached to previously-delivered Asset Approval Requests and Reinvestment Requests.

  • DIP Collateral Obligation A loan made to a debtor-in-possession pursuant to Section 364 of the Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the Bankruptcy Code and fully secured by senior liens.

  • Cash Collateral Order means an order of the Bankruptcy Court that (i) authorizes the Debtor to use the Prepetition Lenders’ Cash Collateral; and (ii) is acceptable to the Lender in the Lender’s sole discretion.

  • Delayed Drawdown Collateral Obligation A Collateral Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Documents relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid by the borrower thereunder; but any such Collateral Obligation will be a Delayed Drawdown Collateral Obligation only until all commitments by the Issuer to make advances to the borrower expire or are terminated or are reduced to zero.