Sold Property definition

Sold Property means (a) the Purchased Property, (b) the Depositor’s rights under the Receivables Purchase Agreement, (c) all present and future claims, demands, causes of action and choses in action relating to any of the property described above and (d) all payments on or under and all proceeds of the property described above.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Sold Property has the meaning set forth in Section 7.3(b) of the Agreement.

Sold Property is defined in Section 2.1.

Examples of Sold Property in a sentence

The Depositor acknowledges that, under the Indenture, the Issuer will assign and pledge the Sold Property and related property and rights to the Indenture Trustee for the benefit of the Secured Parties.
The Depositor has caused, or will cause within ten days after the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law to perfect the security interest Granted in the Sold Property to the Issuer under this Agreement.
The Depositor will file financing and continuation statements, and amendments to the statements, in the jurisdictions and with the filing offices necessary to perfect the Issuer's interest in the Sold Property.
The Depositor authorizes the Issuer and the Indenture Trustee to file financing and continuation statements, and amendments to the statements, in the jurisdictions and with the filing offices as the Issuer or the Indenture Trustee may determine are necessary or advisable to perfect the Issuer's interest in the Sold Property.
This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.
If the Pool Balance is equal to or less than 10% of the Initial Pool Balance on the last day of any Collection Period, the Servicer has the option to purchase the Sold Property (other than the amounts in or invested in Permitted Investments maturing on or before the following Payment Date in the Bank Accounts) on the related Payment Date.
The financing and continuation statements may describe the Sold Property as the Issuer or the Indenture Trustee may reasonably determine to perfect the Issuer's interest in the Sold Property.
However, the Servicer may not purchase the Sold Property unless the sum of (i) the purchase price, (ii) the Collections in the Collection Account for the Collection Period and (iii) any Purchase Amounts paid by the Depositor or the Servicer for the Collection Period is greater than or equal to the sum of (A) the Note Redemption Price for the Notes and (B) all other amounts payable by the Issuer under the Transaction Documents.
On the Closing Date, the Depositor will sell to the Issuer the Sold Property in exchange for the Notes under the Sale and Servicing Agreement.
The Depositor will pay the expenses to perform its obligations under this Agreement and the Issuer's and the Indenture Trustee's reasonable expenses to perfect the Issuer's interest in the Sold Property and to enforce the Depositor's obligations under this Agreement.

More Definitions of Sold Property

Sold Property means all of the Applicable Parties’ interest in the following for each single parcel of Sold Land:

Sold Property means a property that is sold in a specific month/period and where all the suspensive conditions, including the granting of a loan to the purchaser, have been fulfilled.

Sold Property means the personal property that will be sold by each of the Property Partnerships and identified more specifically on a schedule to be attached to the Contribution Agreement to be entered into by each such Property Partnership.

Sold Property means any real property owned, leased or managed by the HI Entities or that is otherwise part of the Business at the date hereof, that on or prior to December 31, 2005 has been disposed of, or the rights associated with which have been disposed of, by the relevant HI Entity provided that, in each case, completion of such disposal has occurred.

Sold Property means any real property that is Owned Real Property as of the date of this Agreement (including the SLB Properties) and that ceases to be Owned Real Property prior to the Closing.