New Asset Types definition
New Asset Types means a new type of asset, which the Issuer intends to assign to the Cover Pool as an Additional Cover Pool Asset, the terms and conditions of which are materially different (in the opinion of the Issuer acting reasonably) from any of the Cover Pool Assets in the Cover Pool, including for the avoidance of doubt non-Euro denominated assets and/or assets which have characteristics other than those of the Initial Assets. For the avoidance of doubt, a mortgage loan will not constitute a New Asset Type if it differs from any of the Cover Pool Assets in the Cover Pool solely due to it having different interest rates and/or interest periods and/or time periods for which it is subject to a fixed rate, capped rate or any other interest rate or the benefit of any discounts, cash-backs and/or rate guarantees. Any further assets added to the Cover Pool at the option of the Issuer in accordance with the above shall form part of the Cover Pool. Upon any addition to the Cover Pool of any Additional Cover Pool Assets where the relevant transfer date is also an Issue Date, the Issuer shall deliver to the Trustee a solvency certificate stating that the Issuer is, at such time, solvent.
New Asset Types means goods or services of a type that are materially different from either (i) the goods or services financed in the Approved Segments and (ii) asset types that have been approved by Noteholders representing not less than a majority of the Outstanding Principal Balance of the Notes.