Securitization SPE definition

Securitization SPE means an entity established or to be established directly or indirectly by the Borrower for the purpose of issuing Securitization Bonds and includes The Detroit Edison Securitization Funding LLC, a limited liability company organized under the laws of the State of Michigan.

Securitization SPE means any Special Purpose Securitization Subsidiary or any Person other than a Subsidiary of the Company which is, in each case, formed solely for the purposes of engaging in a Permitted Securitization Financing and any activities incidental or related thereto.

Securitization SPE means The Detroit Edison Securitization Funding LLC, a single-member limited liability company organized under the laws of the State of Michigan, all of the membership interest in which is held indirectly by the Borrower.

Examples of Securitization SPE in a sentence

• The parties hereto acknowledge that, except with respect to the Other Remittances, each Securitization SPE, as applicable, has granted a present and continuing security interest in all their right, title and interest in the Concentration Account, and the proceeds thereof, in favor of each Securitization Agent (as applicable), to the extent of their interests under the respective Securitization Documents (including on behalf of other secured parties thereunder) to secure its obligations thereunder.

• In their brief in opposition to the Motion, the Plaintiffs describe the functions of these four agreements as follows.16 The first agreement, the Indenture, outlined the obligations owed by the Issuer (the Brooke Securitization SPE) and the Trustee (BNY Mellon).

• Each of the parties hereto (other than the Indenture Trustee) agrees that it will not institute against the Securitization SPE or join any person in instituting against the Securitization SPE, any case or other proceeding under any applicable bankruptcy, insolvency, reorganization, debt arrangement, dissolution or other similar law now or hereafter in effect so long as one year and one day shall not have elapsed since the Notes issued pursuant to the Master Indenture have been paid in full.

• Accordingly, in order to induce U.S. Bank National Association, as Indenture Trustee (in such capacity, together with the successors and assigns, the “Indenture Trustee”) to permit the pledge of the Securitization SPE Stock, the parties hereto agree to the following limitations relating only to the pledge of the Securitization SPE Stock and not to any other Pledged Collateral.

• The Indenture provided that subject to section 4.6 of the Sale and Servicing Agreement, the Issuer was to cause distributions to be made to the Noteholders of principal and interest on the payment dates.Second, the Sale and Servicing Agreement outlined the obligations among the Issuer (the Brooke Securitization SPE), the initial Servicer (BNY Asset or Textron), and the Seller (Aleritas or Brooke Credit Corporation).

More Definitions of Securitization SPE

Securitization SPE means each special purpose bankruptcy remote Person that is either (a) a wholly-owned (directly or indirectly) Subsidiary of Power or (b) the Louisiana Utilities Restoration Corporation, a public non-profit corporation and an instrumentality of the State of Louisiana formed pursuant to the Louisiana Utilities Restoration Corporation Act, in either case organized solely for the purpose of engaging in a Securitization Financing authorized by a Securitization Statute and a Securitization Financing Order and activities related thereto, and each is a “Securitization SPE”. For the avoidance of doubt, the representations, warranties, covenants and events of default contained in the Financing Documents shall not apply to any Securitization SPE.

Securitization SPE means Fingerhut Funding, LLC, a Delaware limited liability company.

Securitization SPE means a Person (i) used solely for the purpose of effecting one or more Securitizations and which is restricted by contract or under its constitutive documents from engaging in business activities other than those related to such Securitizations and activities incidental thereto, (ii) which has no contract, agreement, arrangement or understanding with Holdings or any of its Subsidiaries that is not a Securitization SPE, Mortgage Financing Subsidiary or a Non-Recourse SPE other than customary contracts, arrangements or agreements entered into with respect to the sale, purchase and servicing of the assets of the entity on market terms for similar securitization transactions as determined in good faith by an Authorized Officer of the Parent Borrower and (iii) neither Holdings nor any of its Subsidiaries that is not a Securitization SPE, a Mortgage Financing Subsidiary or a Non-Recourse SPE has any Exhibit 10.1 obligations to guarantee, maintain or preserve such Person’s financial condition or cause it to achieve certain levels of operating results.

Securitization SPE means each special purpose bankruptcy remote Person that is either (a) a wholly-owned (directly or indirectly) Subsidiary of Borrower or (b) the Louisiana Utilities Restoration Corporation, a public non-profit corporation and an instrumentality of the State of Cleco Power LLC Credit Agreement Louisiana formed pursuant to the Louisiana Utilities Restoration Corporation Act, in either case organized solely for the purpose of engaging in a Securitization Financing authorized by a Securitization Statute and a Securitization Financing Order and activities related thereto, and each is a “Securitization SPE”. For the avoidance of doubt, the representations, warranties, covenants and events of default contained in the Financing Documents shall not apply to any Securitization SPE.

Securitization SPE means Fingerhut Funding, LLC.

Securitization SPE means a Person (i) used solely for the purpose of effecting one or more Securitizations and which is restricted by contract or under its constitutive documents from engaging in business activities other than those related to such Securitizations and activities incidental thereto, (ii) which has no contract, agreement, arrangement or understanding with Holdings or any of its Subsidiaries that is not a Securitization SPE or a Non-Recourse SPE other than customary contracts, arrangements or agreements entered into with respect to the sale, purchase and servicing of the assets of the entity on market terms for similar securitization transactions as determined in good faith by an Authorized Officer of the Parent Borrower and (iii) neither Holdings nor any of its Subsidiaries that is not a Securitization SPE or a Non-Recourse SPE has any obligations to guarantee, maintain or preserve such Person’s financial condition or cause it to achieve certain levels of operating results.

Securitization SPE means each special purpose bankruptcy remote person that is either (a) a wholly-owned (directly or indirectly) Significant Subsidiary of the Company or (b) the Louisiana Utilities Restoration Corporation, a public non-profit corporation and an instrumentality of the State of Louisiana formed pursuant to the Louisiana Utilities Restoration Corporation Act, in either case organized solely for the purpose of engaging in a Securitization Financing authorized by a Securitization Statute and a Securitization Financing Order and activities related thereto.