Securitization Default definition

Securitization Default is defined in Section 9.1.10.

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Securitization Default means a Manager Default (as defined in Appendix A to the Securitization Indenture), an Event of Default (as defined in Appendix A to the Securitization Indenture) or a Exterran Event (as defined in Appendix A to the Securitization Indenture).

Securitization Default means any termination event, default or event of default, or event or occurrence which, with the passage of time or the giving of notice or both, would become a termination event, default or event of default under any Securitization Document, which has not been cured within any applicable period thereunder.

Examples of Securitization Default in a sentence

After the occurrence of a Securitization Default or a Bank Default, Allocated Collections constituting Securitization Collections shall be disbursed in accordance with Section 8(b) hereof.
After the occurrence of a Securitization Default or a Bank Default, Allocated Collections constituting Non-Securitization Collections shall be disbursed in accordance with Section 8(c) hereof.
In permitting the Indenture Trustee to distribute Securitization Collateral from the Lockbox Account pursuant to this Section 8(b), the Intercreditor Collateral Agent may rely conclusively on the notice provided by the Indenture Trustee to the effect that a Securitization Default has occurred without conducting any independent investigation thereof and notwithstanding any assertion or evidence to the contrary.
Borrower, UDRC and UDRC II and each of their Affiliates are in full compliance with their respective obligations under the UDRC Securitization Documents and the UDRC II Securitization Documents, and no Securitization Default exists.
Monitoring of Allocation Process; Effect of a Securitization Default; Effect of a Bank Default 17 Section 9.
After the occurrence of a Securitization Default or a Bank Default, Allocated Collections constituting Non-Securitization Collections shall be disbursed in accordance with Section 8(b) or Section 8(c), as the case may be.
Borrower, UDRC II, UDRC III and UDRC IV and each of their Affiliates are in full compliance with their respective obligations under the Securitization Documents, and no Securitization Default exists.
Borrower, UDRC and UDRC II and each of their Affiliates are in full compliance with their respective obligations under the Securitization Documents, and no Securitization Default exists.
Borrower, UDRC II and UDRC III and each of their Affiliates are in full compliance with their respective obligations under the Securitization Documents, and no Securitization Default exists.
In permitting the Indenture Trustee to distribute Securitization Collateral from the Lockbox Accounts pursuant to this Section 8(b), the Intercreditor Collateral Agent may rely conclusively on the notice provided by the Indenture Trustee to the effect that a Securitization Default has occurred without conducting any independent investigation thereof and notwithstanding any assertion or evidence to the contrary.

More Definitions of Securitization Default

Securitization Default means with respect to each Securitization Transaction of the Company Entities (i) a Willful Breach of any Securitization Instrument or (ii) (x) the occurrence of a “Change of Control” (as such term is defined therein) or (y) a “Default” or an “Event of Default,” “rapid amortization event,” “funding termination event,” “sequential order event,” “servicer termination event” or similar “amortization event” or “termination event” (however defined under the applicable Securitization Instrument and whether by lapse of time or notice or both), in each case, under the terms of any Securitization Instrument, as in effect on the Agreement Date or on the Closing Date, as applicable.

Securitization Default means a default or event of default occurs under any documents providing for a Permitted Credit Card Program which default or event of default results in the termination of any Permitted Credit Card Program, provided, however, that a Securitization Default shall not occur as a result of the termination of any Permitted Credit Card Program as described above if (a) such Permitted Credit Card Program is replaced with a Permitted Credit Card Program simultaneously with or prior to such termination or (b) Availability is greater than $200,000,000 at the time of such termination and at all times thereafter so long as no Permitted Credit Card Program is in place.

Securitization Default means any default or event of default, or event or occurrence which, with the passage of time or the giving of notice or both, would become a default or event of default, by UDRC, UDRC II or any seller to UDRC or UDRC II in their respective obligations under the UDRC Securitization Documents or the UDRC II Securitization Documents, which has not been cured within any applicable period thereunder.

Securitization Default. Any payout event, early amortization event, servicer default or similar event under the Master Trust Agreement or any comparable agreement funding the continuing purchase of Account Receivables, other than any such event arising solely out of a breach at any time of the Servicing Agreement or Subservicing Agreement by ▇▇▇▇▇’▇ or any action of Sellers prior to the Closing Date.

Securitization Default means (i) any “Pay Out Event” under any Securitization Document shall occur and be continuing or (ii) the occurrence of the Termination Date (as defined in the Certificate Purchase Agreement but excluding any event described in clause (v) of such definition) or (iii) the failure of any Senior Class Agent (as defined in the Certificate Purchase Agreement) or any Bank Investor (as defined in the Certificate Purchase Agreement) to consent to any extension of the Commitment Termination Date (as defined in the Certificate Purchase Agreement) within the time period provided in the Certificate Purchase Agreement or (iv) a default or event of default occurs under the Household Agreement or any documents related thereto or any documents providing for a Permitted Credit Card Program which default or event of default results in the termination of either the Household Arrangement or any Permitted Credit Card Program, as applicable, provided, however, that a Securitization Default shall not occur as a result of the termination of either the Household Arrangement or any Permitted Credit Card Program as described in clause (iv) above if (a) the Household Arrangement or Permitted Credit Card Program is replaced with a Permitted Credit Card Program simultaneously with or prior to such termination or (b) Availability is greater than $200,000,000 at the time of such termination and at all times thereafter so long as none of the Securitization Program, Household Arrangement or Permitted Credit Card Program is in place.

Securitization Default means (i) any "Pay Out Event" under any Securitization Document shall occur and be continuing or (ii) the occurrence of the Termination Date (as defined in the Certificate Purchase Agreement but excluding any event described in clause (v) of such definition) or (iii) the failure of any Senior Class Agent (as defined in the Certificate Purchase Agreement) or any Bank Investor (as defined in the Certificate Purchase Agreement) to consent to any extension of the Commitment Termination Date (as defined in the Certificate Purchase Agreement) within the time period provided in the Certificate Purchase Agreement.