Securitization Event definition
Securitization Event shall have the meaning assigned to it in Section 2.6(a) hereof.
Securitization Event means any date on which Borrower enters into a Permitted Receivables Transaction."
Securitization Event means the date on which the securitization or other similar public or private pass-through disposition of, or issuance of securities by, the Financed Assets that are Unguaranteed Portions and were originated under the SBA 7(a) Program occurs.
Examples of Securitization Event in a sentence
The Minimum Yield Maintenance Fee shall be waived (i) for the three calendar months following a Securitization Event involving the pay-down of the Loan in an aggregate principal amount of $5,000,000 or more, provided, such waiver shall only apply to one Securitization Event per calendar year and (ii) upon the termination of the Revolving Credit Period.
More Definitions of Securitization Event
Securitization Event means a conduit sale, securitization, or securitization type transaction of SBA Loans, in each case in accordance with the SBA Rules and Regulations.
Securitization Event means a conduit sale, securitization, or securitization type transaction of SBA Loans, in each case in accordance with the SBA Rules and Regulations. “Senior Securities” means senior securities (as such term is defined and determined pursuant to the Investment Company Act and any orders of the SEC issued to the Parent or any of its Affiliates thereunder). “Servicer” has the meaning assigned to such term in the introduction of this Agreement. “Servicer Expense Cap” means, as of any Payment Date, an amount equal to $25,000. “Servicer Termination Event” means the occurrence of any of the events, acts or circumstances set forth in Section 6.03. “Servicing Fees” means the monthly fee, accruing from the Closing Date, payable in arrears on each Payment Date, in an amount equal to 0.50% per annum (calculated on the basis of a 360-day year and the actual number of days elapsed) of the Monthly Asset Amount; provided, however, that if the Backup Servicer is acting as successor Servicer, such fee shall be in an amount equal to 1.00% per annum with a monthly minimum of $6,500. “Servicing Standard” means, with respect to any Collateral Loans, to service and administer such Collateral Loans in accordance with the Loan Documents, SBA Standard Operating Procedures and Official Notices with respect to SBA Loans, and all customary and usual servicing practices (a) which are consistent with the higher of: (i) the customary and usual servicing practices that a prudent loan investor or lender would use in servicing loans like the Collateral Loans for its own account, and (ii) the - 35- 34881204v6 110062879
Securitization Event means a Permitted Sale of Collateral Loans to a Securitization Vehicle in connection with a broadly marketed and distributed issuance of asset-backed securities, as determined by the Administrative Agent.