Finance Obligation definition

Finance Obligation means any CFS Portfolio Financing and Lease Asset that is a promissory note, loan or credit agreement, installment sale contract, financing agreement, Finance Lease or similar financing arrangement (which is not, in any event, an Operating Lease).
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Examples of Finance Obligation in a sentence

  • Such obligation is a Loan or a debt security and is not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest or a Letter of Credit.

  • If and to the extent that any of the Borrowers shall fail to make any payment with respect to any of the Finance Obligations as and when due or to perform any of the Finance Obligations in accordance with the terms thereof, then in each such event, the other Borrower’s will jointly and severally make such payment with respect to, or perform, such Finance Obligation.

  • Each Loan Party agrees, to the fullest extent it may effectively do so under applicable law, that any holder of a participation in a Finance Obligation, whether or not acquired pursuant to the terms of any applicable Finance Document, may exercise rights of set-off or counterclaim or other rights with respect to such participation as fully as if such holder of a participation were a direct creditor of the Loan Party in the amount of such participation.

  • In such case, the Mortgagee may commence a civil action to foreclose this Mortgage, in accordance with applicable law, to satisfy any Finance Obligation.

  • Each Loan Party agrees, to the fullest extent it may effectively do so under applicable Law, that any holder, as to which the identity is disclosed, of a participation in a Finance Obligation, whether or not acquired pursuant to the terms of any applicable Finance Document, may exercise rights of set-off or counterclaim or other rights with respect to such participation as fully as if such holder of a participation were a direct creditor of the Loan Party in the amount of such participation.

  • If and to the extent that any of the Borrowers shall fail to make any payment with respect to any of the Finance Obligations as and when due or to perform any of the Finance Obligations in accordance with the terms thereof, then in each such event, the other Borrowers will jointly and severally make such payment with respect to, or perform, such Finance Obligation.

  • Each Loan Party agrees, to the fullest extent it may effectively do so under applicable Law, that any holder of a participation in a Finance Obligation, whether or not acquired pursuant to the terms of any applicable Finance Document, may exercise rights of set-off or counterclaim or other rights with respect to such participation as fully as if such holder of a participation were a direct creditor of the Loan Party in the amount of such participation.

  • Neither the Administrative Agent nor the Collateral Agent assumes or shall be deemed to have assumed any obligation other than as expressly set forth herein and in the other Loan Documents or any other relationship as the agent, fiduciary or trustee of or for any Lender, L/C Issuer or holder of any other Finance Obligation.

  • Each Premium Finance Obligation consisting of (i) a Loan is secured by a first priority security interest in the right to receive Unearned Premiums payable by the related insurer and (ii) a Deferred Payment Obligation creates a first priority ownership or security interest in the right to receive the premium payments purported to be conveyed thereunder.

  • Each Portfolio Investment is a Loan or a debt security and is not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than Initial Portfolio Investments), a Mezzanine Obligation (or, for the avoidance of doubt, any other unsecured obligation of an obligor) or a Letter of Credit.