Securitization Accounts definition

Securitization Accounts means all Accounts transferred to, or held by, a Securitization Subsidiary or any Borrower or any Subsidiary, as Servicer, or a trustee, pursuant to a Permitted Credit Card Program.
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Securitization Accounts means any and all now or hereafter existing accounts receivable of the Borrower or any Subsidiary that are sold or otherwise transferred to the Securitization Subsidiary or another entity in connection with a Permitted Asset Securitization pursuant to the terms of the Securitization Documents; PROVIDED, HOWEVER, that "Securitization Assets" shall not include (i) any account receivable repurchased by or otherwise returned to the Borrower or any Subsidiary pursuant to the terms of the Securitization Documents, (ii) any cash proceeds or other assets received by the Borrower or any Subsidiary in connection with the sale or transfer of such accounts receivable, or (iii) any interest the Borrower or any Subsidiary (other than the Securitization Subsidiary) may have in any residual interest of any account receivable sold or transferred in connection with a Permitted Asset Securitization.
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Examples of Securitization Accounts in a sentence

  • The Borrower shall, and shall cause each other Credit Party to, within 2 Business Days of deposit, deliver all balances held in any Deposit Account (other than collections in respect of Securitization Accounts) of any Credit Party, and all payments or collections with respect to Collateral (other than collections in respect of Securitization Accounts) in their original form duly endorsed in blank, into the Collection Account.

  • The Servicer hereby agrees to perform and comply with each and every duty and obligation of CMB or the Chase Servicer, as the case may be, as "Servicer" under the Pooling and Servicing Agreements with respect to the Old Securitization Accounts, except such duties and obligations which are set forth on Exhibit 4.1 hereof as the continuing responsibilities of CMB or the Chase Servicer.

  • The names and addresses of the Securitization Banks, together with the account numbers of the Securitization Accounts at each Securitization Bank, are listed on Exhibit IV-B.

  • If the Servicer enters into any New Securitization Servicing Agreement, the Servicer hereby agrees to perform and comply with each and every duty of the "Servicer" under such New Securitization Servicing Agreement with respect to the New Securitization Accounts subject thereto.

  • Notwithstanding the foregoing, if any provision of this Agreement or the Exhibits hereto is found to be inconsistent with any provision of the Pooling and Servicing Agreements with respect to the Old Securitizations or the New Securitization Servicing Agreements with respect to the New Securitization Accounts, the provisions of such Pooling and Servicing Agreements or New Securitization Servicing Agreements, as the case may be, shall govern.

  • In the event any payments relating to Receivables are remitted directly to Seller or any Affiliate of Seller, Seller will remit (or will cause all such payments to be remitted) directly to the Securitization Banks and deposited into the Securitization Accounts within two (2) Business Days following receipt thereof, and, at all times prior to such remittance, Seller will itself hold or, if applicable, will cause such payments to be held in trust for the exclusive benefit of the Agent and the Purchasers.