Securitization Depositor definition
Examples of Securitization Depositor in a sentence
The characterization of the Seller as "debtor" and the Securitization Depositor as "secured party" in any such financing statement required hereunder is solely for protective purposes and shall in no way be construed as being contrary to the intent of the parties that this transaction be treated as a sale to the Securitization Depositor of such Seller's entire right, title and interest in and to the Assets.
To Bluegreen's Knowledge, this Agreement constitutes a valid transfer of the Seller's interest in the Warehouse Timeshare Loans to the Securitization Depositor or, in the event of the characterization of any such transfer as a loan, the valid creation of a first priority perfected security interest in the Warehouse Timeshare Loans in favor of the Securitization Depositor.
Upon such sale, the ownership of each Qualified Substitute Timeshare Loan and all collections allocable to principal and interest thereon since the related Cut-Off Date and all other property interests or rights conveyed pursuant to and referenced in this Section 6(f) shall immediately vest in the Securitization Depositor, its successors and assigns.
None of the Securitization Depositor, the Seller or any subsequent assignee of the Securitization Depositor shall have any obligation or liability with respect to any Warehouse Timeshare Loan nor shall the Securitization Depositor, the Seller or any subsequent assignee have any liability to any Obligor in respect of any Warehouse Timeshare Loan.
In connection with the sale, transfer, assignment and conveyance of any Warehouse Timeshare Loans hereunder, the Securitization Depositor hereby directs the Seller and the Seller hereby agrees to deliver or cause to be delivered to the U.S. Bank, as Custodian, all related Timeshare Loan Files and to the Securitization Servicer all related Timeshare Loan Servicing Files.
The Securitization Depositor may, and intends to, assign all of its rights hereunder to the Securitization Issuer and the Securitization Issuer intends to assign all of its rights to the Securitization Indenture Trustee on behalf of the Securitization Noteholders, and each of the Seller and Bluegreen consents to any such assignments.
To Bluegreen's Knowledge, the Seller has all requisite power and authority to acquire, own, transfer and convey the Warehouse Timeshare Loans to the Securitization Depositor.
Each of the Seller, Bluegreen, the Club Trust, the Club Trustee, the Securitization Depositor and any of its Affiliates hereby agrees to make the appropriate entries in its general accounting records and to indicate that the Warehouse Timeshare Loans have been transferred to the Securitization Depositor.
The Securitization Depositor shall provide or cause to be provided to the Securitization Indenture Trustee and the Rating Agencies with such proposed modifications, amendments or waivers.
Neither the Seller nor Bluegreen may assign any of their rights and obligations hereunder or any interest herein without the prior written consent of the Securitization Depositor and any assignee thereof.