Securitized Debt definition
Securitized Debt means, for any Person, obligations of such Person of the type specified in clauses (i)-(iv) of the definition of “Indebtedness” secured by a Lien on one or more assets or rights to receive revenues, in each case in respect of Stranded Costs (or related items) of such Person where the holders of such obligations do not have recourse to any other assets, properties or rights of such Person to receive revenue, in each case in respect of Stranded Costs (or related items) of such Person.
Securitized Debt means, for any Person, obligations of such Person of the type specified in clauses (i)-(iv) of the definition of "Indebtedness" secured by a Lien on one or more assets or rights to receive revenues, in each case in respect of Stranded Costs (or related items) of such Person where the holders of such obligations do not have recourse to any other assets, properties or rights of such Person to receive revenue, in each case in respect of Stranded Costs (or related items) of such Person.
Securitized Debt means the Indebtedness of a Securitization Issuer evidenced by a CMBS issuance of such Securitization Issuer, the proceeds of which are used to purchase Commercial Mortgage Loans from REIT or a QRS.
Examples of Securitized Debt in a sentence
The ratio of (i) the Indebtedness of the Company and its Subsidiaries determined on a consolidated basis plus Securitized Debt to (ii) Tangible Net Worth, to exceed 2.00 to 1.00 at the end of any fiscal quarter.
The Securitized Debt Obligations with respect to the Deferred Assets shall have been released or otherwise satisfied.
Collateral shall be substantially consistent with Existing 1L Credit Agreement, subject to changes to be agreed upon between the Company and the Lenders; provided, however, that if the New 1L Revolving Loan Facility replaces the PNC Securitized Debt Facility, the PNC Securitized Assets shall also secure the New 1L Revolving Loan Facility.
More Definitions of Securitized Debt
Securitized Debt means, collectively, all Indebtedness under the loan documents evidencing (i) the $41,700,000 loan from Nomura to Westin Indianapolis, L.L.C., secured by a first mortgage loan on the Westin Indianapolis Hotel and (ii) the $75,000,000 loan from Nomura to The Peachtree Hotel Company and assumed by Westin Portman Peachtree II L.L.C., secured by a first deed to secure debt on the Westin Peachtree Plaza.
Securitized Debt means collectively all indebtedness under the loan documents evidencing (i) the $41,700,000 loan from Nomura Asset Capital Corporation ("NACC") to Westin Indianapolis, L.L.C., an Indiana limited liability company, secured by a first mortgage loan on the Westin Indianapolis Hotel and (ii) the $75,000,000 loan from NACC to the Peachtree Hotel Company, a Georgia limited partnership, and assumed by Westin Portman Peachtree II L.L.C., secured by a first deed to secured debt on the Westin Peachtree Plaza.