Collateralized Note definition

Collateralized Note means a promissory note made in favor of the Seller, or a Subsidiary of Seller and endorsed by such subsidiary to the Seller, and secured by pools of Underlying Mortgage Loans; provided, however, that the obligor under such Collateralized Note has pledged and hypothecated to the Seller, and has granted a continuing lien and first priority security interest in favor of the Seller in collateral compromised of Eligible Assets; and provided further, however, that the Seller has pledged such collateral to the Buyer, has granted to Buyer a continuing lien on and first priority security interest in such collateral, as of the related Purchase Date, and has delivered to Buyer each of the documents set forth in Section 3(b)(xi), in form and substance satisfactory to Buyer and its counsel.
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Collateralized Note. A promissory note made in favor of Seller and secured by pools of any of the Eligible Assets described in clauses (i), (ii) and (iii) of the definition of the term "Eligible Assets" in this Section 1.1; provided, however, that the obligor under such Note has pledged and hypothecated to Seller, and has granted to Seller a continuing lien upon and first priority security interest in, collateral comprised of such Eligible Assets; and provided further, however, that Seller assigns to Purchaser all of Sellers interest in such lien and security interest as of the related Purchase Date.
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Examples of Collateralized Note in a sentence

  • Without limiting the generality of the foregoing clause (iii), but subject to any restrictions on transfer of the Senior Notes contained in the Collateralized Note Indenture, each Secured Party may assign or otherwise transfer any Senior Note held by it to any other person or entity, and such other person or entity shall thereupon become vested with all the benefits in respect thereof granted to such Secured Party herein or otherwise.

  • Pursuant to Section 307(d) of the Collateralized Note Indenture, Huntway has established and will maintain with Bankers a CDSA Account which is described on Schedule I attached hereto (the "CDSA Account").

  • After the Company has paid in full the principal of and all accrued interest (including Secondary Securities, as defined in the Collateralized Note Indenture, issued with respect thereto) on the Senior Securities, the Securities may be redeemed at the election of the Company as a whole or from time to time in part, subject to the conditions and at the Redemption Prices specified in the form of Security, together in each case with accrued interest to the Redemption Date.

  • The Company shall not pay any principal payments with respect to the Securities until the accrued interest (including Secondary Securities as defined in the Collateralized Note Indenture) on and the principal amount of the Senior Securities has been paid in full and the Convertible Notes have been converted pursuant to the Senior Subordinated Indenture or the principal amount of and all accrued interest on the Convertible Notes has been paid in full.

  • Upon any default of the Trustor hereunder, the Beneficiary shall be entitled to exercise with respect to all such collateral all of the rights and remedies set forth herein, in the Collateralized Note Indenture or otherwise afforded to a secured party in default under the terms of Article 9 of the California Uniform Commercial Code, any or all of which may be pursued and exercised concurrently, consecutively, alternatively or otherwise.

  • After the Company has paid in full the principal of and all accrued interest (including Secondary Securities, as defined in the Collateralized Note Indenture issued with respect thereto) on the Senior Securities, the Company and its Subsidiaries will not, directly or indirectly, declare, order, pay, make or set apart any sum for any Restricted Junior Payment prior to the payment in full of the principal of and interest on the Securities.

  • Pledgor further agrees that it will not permit any amendment or alteration to Huntway's limited partnership agreement that would result in a breach or violation of the Collateralized Note Indenture, without the express prior written consent of Collateral Agent.

  • This Indenture amends, restates and supersedes in its entirety the Collateralized Note Indenture dated as of June 22, 1993, as amended, between the Company and the Trustee (then known as Shawmut Bank, N.A.).

  • Guarantor is the Huntway Managing General Partner and will remain the Huntway Managing General Partner unless and until the Secured Parties consent to an alteration of Guarantor's status as the Huntway Managing General Partner in accordance with the terms of the Collateralized Note Indenture.

  • The Securities issued hereunder represent a continuation of certain indebtedness outstanding under such Collateralized Note Indenture.

Related to Collateralized Note

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Cross-Collateralized Group Any group of Mortgage Loans that are cross-collateralized and cross-defaulted with each other; provided that a Mortgage Loan shall be part of a Cross-Collateralized Group only if and for so long as such Mortgage Loan is cross-collateralized and cross-defaulted with each other Mortgage Loan in such Cross-Collateralized Group. There are no Cross-Collateralized Groups included as assets of the Trust as of the Closing Date.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.