Securitization Contract definition

Securitization Contract means any security agreement, guarantee, loan purchase agreement or other purchase agreement, fee letter, custodial agreement, servicing agreement or backup servicing agreement Contract to which any of the Non-Recourse Subsidiaries is a party (including any Contract by and between any Non-Recourse Subsidiary, on the one hand, and the Company or any of its Subsidiaries, on the other hand).
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Securitization Contract means any receivables purchase agreement, loan purchase agreement, other purchase agreement, guaranty, security agreement, fee letter, trust agreement, custodial agreement, servicing agreement, backup servicing agreement or similar securitization contract to which any Non-Recourse Subsidiary is a party (including any Contract between any Non-Recourse Subsidiary, on the one hand, and CIT, BancShares or any of their Subsidiaries, as applicable, on the other hand); the term “Securitization Repurchase Obligation” means any obligation of CIT, BancShares or any of their Subsidiaries, as applicable (other than a Non-Recourse Subsidiary), to repurchase assets from a Non-Recourse Subsidiary due to a breach of representations and warranties contained in the applicable Securitization Contracts relating to the origination, sale or servicing of such assets, a failure by the underlying obligors of such assets to make payment, or for other reasons which CIT or BancShares, as applicable, has determined in good faith are customary in a Securitization Contract; and the term “Standard Securitization Undertakings” means representations, warranties, covenants, guarantees, indemnities and comparable obligations entered into by CIT, BancShares or any of their Subsidiaries, as applicable (other than a Non-Recourse Subsidiary), which CIT or BancShares, as applicable, has determined in good faith to be customary in a Securitization Contract, including those relating to the servicing of the assets of a Non-Recourse Subsidiary, it being understood that any Securitization Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking.
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Securitization Contract means, individually or collectively, as the context requires, (i) a contract between the Borrower and/or one or more of the Subsidiaries of the Borrower on the one hand and a Special Purpose Subsidiary on the other for the sale of Receivables to such Special Purpose Subsidiary on a "true sale" basis and (ii) a separate contract concurrently entered into with the contract described in clause (i) of this definition between such Special Purposes Subsidiary on the one hand and the purchaser of any, all or an undivided portion of such Receivables on the other hand, each relating to a Securitization.
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Examples of Securitization Contract in a sentence

  • Without limiting the generality of the foregoing, except as set forth on Schedule 4.1(c), no notices or consents are required to be obtained by either Seller from any party to any Contract or Securitization Contract in connection with the assignment of such Contract or Securitization Contract hereunder.

Related to Securitization Contract

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

  • 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.

  • Securitization Financing means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.

  • 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.

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