LBAC definition

LBAC means Long Beach Acceptance Corp., a Delaware corporation, and its successors.
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LBAC means Long Beach Acceptance Corp., a Delaware corporation, and its successors.Annex A - 13
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LBAC or the "Originator"), LONG BEACH ACCEPTANCE RECEIVABLES CORP., a Delaware corporation (the "Depositor"), and [NAME OF TRUSTEE] _____________________, as trustee (in such capacity, the "Trustee"), back-up servicer, custodian and collateral agent pursuant to the Pooling and Servicing Agreement referred to below.
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Examples of LBAC in a sentence

  • Unless any such defect with respect to such Receivable shall have been cured by the last day of the second Collection Period following discovery thereof by the Custodian, LBAC shall repurchase any such Receivable as of such last day.

  • No such resignation of the Servicer shall become effective until a successor servicer shall have assumed the responsibilities and obligations of LBAC in accordance with Section 9.2 and the Servicing Assumption Agreement, if applicable.

  • In consideration of and simultaneously with the repurchase of the Receivable, the Transferor shall remit, or cause LBAC to remit, to the Collection Account the Purchase Amount in the manner specified in Section 5.5 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase.

  • The provisions of this Section 10.6 shall survive the termination of this Agreement or any resignation or removal of LBAC as Servicer.

  • The Issuer does hereby sell, transfer, assign, and otherwise convey to LBAC, without recourse, representation, or warranty, all of the Issuer's right, title, and interest in and to all of the Receivables (as defined in the Agreement) identified in the attached Servicer's Certificate as "Purchased Receivables," which are to be repurchased by LBAC pursuant to Section 3.4 of the Agreement, and all security and documents relating thereto.

  • In consideration of the purchase of such Receivable, LBAC shall remit the Purchase Amount in the manner specified in Section 5.5. The Transferor shall have no obligation to repurchase any Receivable upon a breach pursuant to this Section 3.4. The Transferor shall have no liability for any action taken or omitted to be taken by LBAC pursuant to this Section 3.4.

  • The Issuer's Certificate submitted with respect to such Payment Date shall operate, as of such Payment Date, as an assignment, without recourse, representation or warranty, to LBAC or the Servicer, as the case may be, of all the Issuer's right, title, and interest in and to such repurchased Receivable, and all security and documents relating thereto, such assignment being an assignment outright and not for security.

  • If the Servicer is not LBAC, the Servicer may not make any extension on a Receivable without the prior written consent of the Note Insurer.

  • With respect to each Subsequent Receivable for which the relevant Dealer is temporarily unable to furnish either an original Lien Certificate or satisfactory evidence that the appropriate lien has been recorded on the related certificate of title or documentation has been submitted to the appropriate state motor vehicle authority to record such lien on such certificate of title, LBAC has received the related Dealer Title Guaranty.

  • LBAC shall have complied with the requirements of Section 4.1 of the Purchase Agreement and shall have delivered all documents required to be delivered pursuant to Section 5.5 of the Purchase Agreement.


More Definitions of LBAC

LBAC or the "Originator"), LONG BEACH ACCEPTANCE RECEIVABLES CORP., a Delaware corporation (the "Transferor"), and THE CHASE MANHATTAN BANK, a New York banking corporation, as trust collateral agent (in such capacity, the "Trust Collateral Agent"), back-up servicer and custodian pursuant to the Sale and Servicing Agreement referred to below.
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Related to LBAC

  • Depositor means Advisors Asset Management, Inc. and its successors in interest, or any successor depositor appointed as hereinafter provided."

  • the Seller means the person so described in the Order;

  • NFC means Navistar Financial Corporation, a Delaware corporation.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Originator means the sender of the first payment order in a funds transfer.

  • World Omni means World Omni Financial Corp., a Florida corporation, or its successors.

  • Mortgage Loan Seller Sub-Servicer A Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed on Exhibit S to this Agreement, or any successor thereto.

  • Trust Depositor has the meaning assigned such term in the preamble hereunder or any successor thereto.

  • Back-Up Servicer means, initially, Xxxxx Fargo Bank, National Association, and at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement.

  • Backup Servicer means Wxxxx Fargo Bank, National Association, in its capacity as Backup Servicer under this Agreement.

  • Mortgage Loan Seller Each of CREFI, GACC and JPMCB, and their respective successors in interest.

  • The Purchaser means the organization purchasing the Goods, as named in SCC.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Originators have the meaning set forth in the Purchase and Sale Agreement, as the same may be modified from time to time by adding new Originators or removing Originators, in each case with the prior written consent of the Administrative Agent.

  • CAC means the Cyberspace Administration of China.

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • Countrywide Countrywide Home Loans, Inc., a New York corporation and its successors and assigns.

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • GMAC GMAC Mortgage Corporation, or its successor in interest.

  • Note A-3 Master Servicer means the master servicer under the Note A-3 PSA.

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.

  • Note A-2 Master Servicer means the master servicer under the Note A-2 PSA.

  • Countrywide Servicing Countrywide Home Loans Servicing LP, a Texas limited partnership and its successors and assigns.