Pledged ABS definition

Pledged ABS has the meaning specified in Section 1.1 of the Master Residual Loan Agreement (provided that, solely for the purposes of any calculation of the amount specified under clause (x)(B) of the definition of "Net Securitization Proceeds Percentage", Pledged ABS shall also include securities pledged under Additional Approved Residual Financing Agreements, which securities are deemed by Lender in its reasonable discretion to meet the criteria for Pledged ABS under the Master Residual Loan Agreement).
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Pledged ABS means, with respect to the Loans at any time outstanding hereunder and any Committed Securitization, collectively, the related Residual Interest Collateral (if any) and the related Subordinate Note Collateral (if any).
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Pledged ABS means any residual, subordinated or interest strip class of asset backed securities (i) issued in connection with a securitization involving Assignor, Onyx or an affiliate of either of them, and in which MLMCI or an affiliate of MLMCI has acted as the lead or co-lead underwriter or placement agent and (ii) pledged by Assignor hereunder and accepted by MLMCI in connection with a Loan hereunder.
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Examples of Pledged ABS in a sentence

  • Borrower shall furnish or cause to be furnished to Lender, on the last Business Day of each month, a report for each Pledged ABS, all Supplemental Collateral, all Additional Collateral and each Demand Note substantially in the form of, and containing the information set forth on, Exhibit F hereto.

  • Borrower acknowledges and agrees that all payments on the Pledged ABS will be made to the Collection Account, for the benefit of Lender.

  • An Other Residual Financing Facility Loan secured by Other Residual Financing Facility Pledged ABS relating to such Loan shall be made under the Other Residual Financing Facility in an equal principal amount as such Loan on the same date such Loan is made hereunder (except as otherwise provided in Section 9(r) hereof).

  • Any Pledged ABS for such Loan shall have been delivered to Lender as provided in Section 2(b) hereof.

  • For any Pledged ABS that is uncertificated, Borrower shall cause the issuer of such Pledged ABS to register Lender as the registered owner of such Pledged ABS on books of the issuer.

  • On or prior to the date of pledge thereof, Borrower shall physically deliver to Lender in a manner acceptable to Lender (in its reasonable discretion) all security certificates and instruments evidencing each Pledged ABS, in each case registered in the name of Lender.

  • Promptly following Lender's receipt from Borrower of the Pledged ABS Servicer's Certificates for each Pledged ABS pursuant to Section 9(s), Lender shall provide Borrower with notice of Lender's most recent determination of (i) the Market Value of each Pledged ABS, (ii) the Market Value of any Supplemental Collateral, and (iii) the Market Value of any Additional Collateral.

  • Borrower shall, with respect to each Loan, no later than two (2) Business Days prior to the related Borrowing Date, irrevocably instruct, in the case of any Pledged ABS, the paying agent under the related ABS Issuance Agreements, pursuant to an instruction substantially in the form of Exhibit D hereto (with a copy to Lender), providing for, among other things, all payments payable in respect of the related Pledged ABS to be paid directly to the Collection Account for the benefit of Lender.

  • Borrower shall cause trustee or other paying agent on any Pledged ABS, any Supplemental Collateral and any Additional Collateral to make all payments in connection with such Pledged ABS, Supplemental Collateral and Additional Collateral to the Collection Account for the benefit of Lender pursuant to Section 2(e) of this Agreement and not make any change to any such instructions without the prior written consent of Lender.

  • On each date on which any payment in respect of any Pledged ABS or any other Collateral is received in the Collection Account in accordance with this Section 2(e), Collection Account Bank shall inform Lender of such receipt and shall request from Lender instructions as to the application of such amounts pursuant to Section 13(b), Section 13(c) or Section 12(e), as applicable.

Related to Pledged ABS

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledged Amount With respect to any Pledged Asset Loan, the amount of money remitted to Combined Collateral LLC, at the direction of or for the benefit of the related Mortgagor.

  • Pledged Asset Loan Any Mortgage Loan supported by Pledged Assets or such other collateral, other than the related Mortgaged Property, set forth in the Series Supplement.

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • Pledged Accounts means all of each Grantor’s right, title and interest in all of its Deposit Accounts, Commodity Accounts and Securities Accounts (in all cases, including, without limitation, all Controlled Accounts and Foreign Currency Control Accounts).