Conduit Securitization definition

Conduit Securitization means the series of agreements, dated November 12, 2007, as amended and restated on August 28, 2012 and from time to time, among, among others, the Company, the Subsidiary Guarantors and Charles Street ABS, establishing a conduit securitization program of certain of our mortgage loans.
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Conduit Securitization any transaction involving the issuance of commercial mortgage backed securities collateralized primarily by newly originated loans (i) issued for the purpose of securitizations, (ii) with fixed interest rates and maturities of 7 to 10 years and (iii) with loan-to-value ratios generally averaging approximately 75% and debt service coverage ratios generally averaging 1.25 based on net cash flow from the underlying real estate, all as reasonably determined by the Manager, acting in good faith.
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Conduit Securitization means a Permitted Securitization effected through the issuance of commercial paper through a commercial paper conduit.
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Examples of Conduit Securitization in a sentence

  • See “ Description of Certain Financing Arrangements—Securitizations—Conduit Securitizations.” Such available amounts are subject to the availability of eligible assets in the Borrower Group and covenant constraints in the Conduit Securitization, including asset eligibility criteria and securitization portfolio covenants.

  • Represents additional amounts that we may draw, pursuant to the terms of the Conduit Securitizations, by selling eligible loan assets to the relevant Conduit Securitization SPV at the advance rate applicable under each Conduit Securitization.

  • LA FAYETTE ASSET SECURITIZATION LLC c/o Calyon New York Branch 1301 Avenue of the Americas Xxx Xxxx, Xxx Xxxx 00000 Facsimile: (000) 000-0000 Attention: Conduit Securitization With a copy to the Administrative Agent (except in the case of notice from the Administrative Agent).

  • When the aggregate number of RICs OAC has originated reaches a critical mass, typically once every three months, the RICs are securitized and sold into the asset-backed market through non-Debtor Real Estate Mortgage Investment Conduit Securitization Trusts ("REMIC Trust").

  • Pro forma conduit interest represents annualized conduit interest, adjusted for the refinancing of and increase in commitments available to us under the Conduit Securitization in August 2012.

  • These subsidiaries are, however, not guarantors of any agreement forming part of the Conduit Securitization.

  • Therefore, the consent framework is adjusted to a slipping standard.

  • The balance of the Conduit Securitization reflected on our consolidated balance sheet as of June 30, 2013 was £351.5 million, which is net of cash at bank of £25.6 million within the Conduit Securitization and£4.9 million in prepaid fees associated with the Conduit Securitization.

  • County general hospitals are the second most important health providers, the majority of their users again being rural residents.

  • Conduit interest represents interest paid on notes issued under the Conduit Securitization.


More Definitions of Conduit Securitization

Conduit Securitization means a previous securitization of a pool of fixed-rate first lien conduit commercial mortgage loans, excluding any so-called "large loan" and, unless Lender has determined that a Securitization of a pool of fixed-rate first lien conduit commercial mortgage loans has not occurred for a period of at least one hundred twenty (120) days, any so-called "fusion" securitization.
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Related to Conduit Securitization

  • Securitization means one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion of such Note as part of a securitization of one or more mortgage loans.

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.

  • Receivables Securitization any financing pursuant to which accounts receivable of the Borrower or any of its Subsidiaries are (or are purported to be) sold or pledged, which financing shall be non-recourse (except for customary limited recourse provisions) to the Borrower and its Subsidiaries.

  • Note A-7 Securitization means the first sale by the Note A-7 Holder of all or a portion of Note A-7 to a depositor who will in turn include such portion of Note A-7 as part of the securitization of one or more mortgage loans.

  • Securitization Assets means (a) the account receivable, royalty or other revenue streams and other rights to payment and other assets related thereto subject to a Qualified Receivables Financing and the proceeds thereof and (b) contract rights, lockbox accounts and records with respect to such accounts receivable and any other assets customarily transferred together with accounts receivable in a securitization financing.

  • Lead Securitization means, if the First Securitization is the Note A-1 Securitization, such Securitization; provided that, if any other Securitization occurs prior to the Note A-1 Securitization, then the First Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs.

  • Note A-6 Securitization means the first sale by the Note A-6 Holder of all or a portion of Note A-6 to a depositor who will in turn include such portion of Note A-6 as part of the securitization of one or more mortgage loans.

  • First Securitization means the earliest to occur of the Note A-1 Securitization and the Note A-2 Securitization.

  • Lead Securitization PSA means (a) during the period from and after the Note A-2 Securitization Date and prior to the Note A-1 Securitization Date, the Note A-2 PSA and (b) from and after the Note A-1 Securitization Date, the Note A-1 PSA.

  • Securitization Date means the effective date on which the Securitization of the first Note or portion thereof is consummated.

  • Securitization Property means the property described in section 10j.

  • Note A-4 Securitization means the first sale by the Note A-4 Holder of all or a portion of Note A-4 to a depositor who will in turn include such portion of Note A-4 as part of the securitization of one or more mortgage loans.

  • Securitization Rate means, with respect to a 2019-B Lease, an annualized rate that is equal to 7.00%.

  • Lead Securitization Date means the closing date of the Lead Securitization.

  • Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Securitization Servicing Agreement means the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement.

  • Note A-6 Securitization Date means the closing date of the Note A-6 Securitization.

  • Note A-4 Securitization Date means the closing date of the Note A-4 Securitization.

  • Note A-5 Securitization means the first sale by the Note A-5 Holder of all or a portion of Note A-5 to a depositor who will in turn include such portion of Note A-5 as part of the securitization of one or more mortgage loans.

  • Securitization Fees means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Subsidiary in connection with any Qualified Securitization Financing.

  • Securitization Repurchase Obligation means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant or otherwise, including, without limitation, as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.

  • Note A-5 Securitization Date means the closing date of the Note A-5 Securitization.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Permitted Securitization means, for any Borrower and its Subsidiaries, any sale, assignment, conveyance, grant and/or contribution, or series of related sales, assignments, conveyances, grants and/or contributions, by such Borrower or any of its Subsidiaries of Receivables (or purported sale, assignment, conveyance, grant and/or contribution) to a trust, corporation or other entity, where the purchase of such Receivables may be funded or exchanged in whole or in part by the incurrence or issuance by the applicable Securitization SPV, if any, of Indebtedness or securities (such Indebtedness and securities being “Attributable Securitization Obligations”) that are to be secured by or otherwise satisfied by payments from, or that represent interests in, the cash flow derived primarily from such Receivables (provided, however, that “Indebtedness” as used in this definition shall not include Indebtedness incurred by a Securitization SPV owed to any Borrower or any of its Subsidiaries, which Indebtedness represents all or a portion of the purchase price or other consideration paid by such Securitization SPV for such receivables or interests therein), where (i) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of such Borrower or any of its Subsidiaries, as applicable, in respect of Receivables sold, assigned, conveyed, granted or contributed, or payments made in respect thereof, are customary for transactions of this type, and do not prevent the characterization of the transaction as a true sale under Applicable Laws (including debtor relief laws) and (ii) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of any Securitization SPV in respect of Receivables sold, assigned, conveyed, granted or contributed or payments made in respect thereof, are customary for transactions of this type.