Conduit Facility definition
Examples of Conduit Facility in a sentence
The Company, as servicer, has performed in all material respects such services (x) in a manner that, consistent with reasonable commercial practices, discloses its independent contractor/agent status to third parties and (y) otherwise pursuant to and within the context and limitations of the Conduit Facility Documents.
In addition, there are no, and have not been any, other agreements or understandings pursuant to which the Company or another of its other Affiliates (A) is responsible for maintaining each Conduit Borrower’s or Donlen Trust’s solvency or providing additional capital or (B) provides recourse, guarantees or otherwise retains or assumes financial risks with respect to the Transferred Assets other than the limited obligations expressly set forth in the Conduit Facility Documents.
Each of Donlen Trust and the Company and its Affiliates have complied with each of their covenants and agreements set forth in the Conduit Facility Documents.
The purpose of the CLO Facility is to provide funding via issuance of the CP Notes under the Conduit Facility.
None of the transactions contemplated by the Conduit Facility Documents were entered into with the intent to hinder, defraud or delay any of the creditors of the Company.