Examples of SPV Account in a sentence
The Asset SPV Cash Manager, on behalf of the Asset SPV, hasestablished and will maintain, in the name of the Asset SPV, a collection account (the “Collection Account”) with the Asset SPV Account Bank in which there is established a “Principal Collections Ledger” and a “Group I Finance Collections Ledger” to which Principal Collections and Finance Charge Collections are credited, respectively.
See “BANK ACCOUNT STRUCTURE DIAGRAM”.The Asset SPV Account Bank may resign and the Asset SPV may appoint another account bank provided it is a Qualifying Institution or as otherwise permitted in the Asset SPV Transaction Documents (see further “DESCRIPTION OF CERTAIN OTHERTRANSACTION DOCUMENTS—Asset SPV Transaction Documents—Asset SPV Account Bank Agreement—Termination and resignation”).
The Notes represent obligations of the Issuer only, and do not represent obligations of the Asset SPV, the Arranger, the Joint Lead Managers, the Security Trustee, the Note Trustee, the Collateral Trustee, the Issuer Account Bank, the Asset SPV Account Bank, the Issuer Cash Manager, the Asset SPV Cash Manager or the Principal Paying Agent or any other Transaction Party (except the Issuer) or any other third person or entity.
Make any change in its instructions to Obligors regarding payments to be made to the Purchaser other than any changes in instructions necessary to ensure that such payments are made to the SPV Account (as opposed to the Collection Account or any other location).
The Asset SPV has also opened and will maintain an excess funding account with the Asset SPV Account Bank (the “Excess Funding Account”) to which all amounts available to fund the purchase of Receivables will be credited and an expense account (the “Asset SPV Expense Account”).
Implement and maintain adequate measures to provide standing instructions to each Obligor on any Transferred Receivables to remit all payments in connection with such Transferred Receivable to the SPV Account.
Deposit or otherwise credit, or cause or permit to be so deposited or credited, to the SPV Account cash or cash proceeds other than Collections.
At all times prior to the Closing Date, each Obligor was been instructed by Aspen to remit all payments on the Transferred Receivables and Related Security directly to the Collection Account and from and after the Closing Date, each Obligor will be instructed to remit all payments on the Transferred Receivables and Related Security directly to the SPV Account.
The Issuer has appointed an agent under each of the Issuer Cash Management Agreement, the Issuer Account Bank Agreement, the Issuer Corporate Services Agreement, and the Security Trust Deed, and the Asset SPV has appointed an agent under each of the Collateral Certificate Trust Deed, the Asset SPV Account Bank Agreement, the Asset SPV Corporate Services Agreement, and the Servicing Agreement.
However, in order to mask the fact that assets in the PGM SPV Accounts were being used to fund trading losses incurred by the PGM Trading Accounts, REPUBLIC SECURITIES generally booked the first and second entries noted above to the appropriate PGM SPV Account but falsely and inaccurately booked the third and fourth entries to the PGM Trading Accounts.