Initial Securitization definition

Initial Securitization means the first securitization of Contracts consummated by TFC after the Closing Date.
Initial Securitization means the transactions entered into in connection with the Amended and Restated Receivables Purchase Agreement dated as of May 28, 1996, among O&M Funding Corp., the Company, Receivables Capital Corporation and Bank of America National Trust and Savings Association, as further amended, restated, supplemented or otherwise modified from time to time.

Examples of Initial Securitization in a sentence

  • Receipt by the Administrative Agent of satisfactory evidence that the Initial Securitization Facility is in full force and effect and that an aggregate amount of at least $250,000,000 of commitments (whether or not utilized on the Initial Funding Date) are provided thereunder.

  • Such sale, transfer, assignment and conveyance of the Initial Securitization Property is hereby expressly stated to be a sale or other absolute transfer and, pursuant to Section 10l of the Statute and the Financing Order, shall constitute a true sale of all of the Seller's right, title and interest, in, to and under, and not a borrowing secured by, the Initial Securitization Property.

  • The Seller agrees and confirms that upon payment of the Initial Purchase Price and the execution and delivery of this Agreement and the related Bill xx Sale, the Seller shall have no right, title or interest in, to or under the Initial Securitization Property.

  • This Agreement shall terminate upon such time that one of the following has occurred: (a) the payment in full of the Initial Securitization Bonds or (b) the payment in full of the Additional Securitization Bonds, except that the understandings and acknowledgements contained in Sections 1, 2, 3 and 14 shall survive the termination of this Agreement.

  • This Agreement shall terminate upon such time that at least two of the following have occurred: (a) the payment in full of the Initial Securitization Bonds, (b) the payment in full of the Additional Securitization Bonds, and (c) the termination of the Receivables Agreements as to the Company and the release of the Company from all further obligations thereunder, except that the understandings and acknowledgements contained in Sections 1, 2, 3 and 15 shall survive the termination of this Agreement.

  • Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value0.00% World Omni Automobile Lease Securitization Trust 2023-A PAGE 3 MONTHLY SERVICER CERTIFICATE For the collection period ended 06/30/2023 F.

  • This Agreement is solely for the benefit of the parties hereto, the holders of the Initial Securitization Bonds and the holders of the Additional Securitization Bonds, and no other person or entity shall have any rights, benefits, priority or interest under or because of the existence of this Agreement.

  • If the Initial Securitization Closing Date does not occur on or before the ninetieth (90th) day after the Closing Date, Borrower shall pay Lender, on the first Remittance Date following such ninetieth (90th) day, the Commitment Fee Post-90 Add-on Amount in accordance with Section 3.12(c).

  • In addition, this Agreement shall terminate and be of no further force and effect: (i) with respect to the Initial Bond Issuer, the Initial Bond Trustee and the Initial Property Servicer, upon the payment in full of the Initial Securitization Bonds, and (ii) with respect to the Additional Bond Issuer, the Additional Bond Trustee and the Additional Property Servicer, upon the payment in full of the Additional Securitization Bonds.

  • This Agreement is solely for the benefit of the parties hereto, the holders of the Initial Securitization Bonds, the holders of the Additional Securitization Bonds and the Receivables Purchasers, and no other person or entity shall have any rights, benefits, priority or interest under or because of the existence of this Agreement.


More Definitions of Initial Securitization

Initial Securitization means the Securitization of the A-1 Note.
Initial Securitization means the transactions entered into in
Initial Securitization means the transactions entered into in ---------------------- connection with the Receivables Purchase Agreement dated as of July 14, 2000, among O&M Funding Corp., the Company, Falcon Asset Securitization Corporation, Receivables Capital Corporation, Liberty Street Funding Corp., Bank One, NA, Bank of America, National Association, and The Bank of Nova Scotia as amended, restated, supplemented, replaced or otherwise modified from time to time.
Initial Securitization. The first Property Release to occur after the Restatement Effective Date in connection with a securitization of Properties.

Related to Initial Securitization

  • Initial Securities As defined in the preamble hereto.

  • 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.

  • 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.

  • Securitization Transfer The sale or transfer of some or all of the Mortgage Loans to a trust or other entity as part of a publicly-issued or privately-placed, rated or unrated mortgage pass-through or other mortgage-backed securities transaction.

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

  • 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 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.

  • 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-1 Securitization means the first sale by the Note A-1 Holder of all or a portion of Note A-1 to a depositor who will in turn include such portion of Note A-1 as part of the securitization of one or more mortgage loans.

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

  • 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.

  • 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.

  • 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.

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

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

  • Note A-3 Securitization means the first sale by the Note A-3 Holder of all or a portion of Note A-3 to a depositor who will in turn include such portion of Note A-3 as part of the securitization of one or more mortgage loans.

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

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

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

  • 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.

  • 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.

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

  • Note A-2 Securitization means the first sale by the Note A-2 Holder of all or a portion of Note A-2 to a depositor who will in turn include such portion of Note A-2 as part of the securitization of one or more mortgage loans.

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

  • Note A-1 Securitization Date means the closing date of the Note A-1 Securitization.

  • Exchange Notes means the Notes issued in the Exchange Offer pursuant to Section 2.06(f) hereof.