SPV Collateral definition

SPV Collateral means the assets of the SPV Borrower or any other Person which from time to time are, or are agreed to be, the subject of a Lien in favor of the SPV Security Agent under the Collateral Sharing Agreement, under or pursuant to the SPV Collateral Documents, to secure the Obligations.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

SPV Collateral means all assets and property in which either any SPV Entity or Master Trust has acquired, or purports to have acquired, an interest (including without limitation all assets and property which the Company or the Guarantor has transferred, or purports to have transferred, to any such Person) pursuant to either (i) the “Transaction Documents,” as defined in that certain Third Amended and Restated Note Issuance and Security Agreement dated as of November 15, 2010, by and among the Guarantor, the holders of Guarantor Secured Notes, Lord Securities Corporation (as trustee), and GWG LifeNotes Trust, as the same may be amended from time to time, or (ii) any documentation relating to any Senior Debt and intended by the parties thereto to have the same primary purpose as the Transaction Documents.

SPV Collateral means the assets in respect of which Security Interests have been created by the SPV Security Documents.

Examples of SPV Collateral in a sentence

• We further refer to Clause 14.5 (New Lender) of the SPV Collateral Sharing Agreement.

• Accordingly, in order to induce the SPV Collateral Agent to permit the pledge of the Fingerhut SPV Stock, the parties hereto agree to the following limitations relating only to the pledge of the Fingerhut SPV Stock and not to any other Pledged Collateral.

• The provisions of this Article XI shall continue to be effective or be reinstated, as the case may be, if at any time any payment made pursuant to the Receivables Purchase Agreement is rescinded or must otherwise be returned by the SPV Collateral Agent or any of the lenders upon the insolvency, bankruptcy or reorganization of the Grantor or the Bluestem SPV or otherwise, all as though such payment had not been made.

• Accordingly, in order to induce the SPV Collateral Agent to permit the pledge of the Bluestem SPV Stock, the parties hereto agree to the following limitations relating only to the pledge of the Bluestem SPV Stock and not to any other Pledged Collateral.

• The SPV Borrower and the Initial Guarantor will not otherwise direct the Administrative Agent or the Security Agent to enter into any amendment to the applicable Collateral Sharing Agreement or any other SPV Collateral Document without the consent of the Required Lenders, except as otherwise permitted pursuant to Section 10.01 of this Agreement.

• The terms and provisions of this Agreement shall be for the sole benefit of the Notes Collateral Agent and the Note Facility Secured Parties under the Note Facility and the SPV Collateral Agent and the SPV Secured Parties under the SPV Credit Documents, the other parties hereto and their respective successors and assigns, and no other person, firm, entity or corporation shall have any right, benefit, priority, or interest under, or because of this Agreement.

• The Grantor is the direct, sole beneficial owner and sole holder of record of the Pledged Collateral listed on Exhibit D as being owned by it, free and clear of any Liens, except for (i) the first priority security interest of the SPV Collateral Agent in the Pledged Collateral; (ii) the second priority security interest granted to the Administrative Agent for the benefit of the Lenders hereunder; and (iii) the third priority security interests of the Senior Subordinated Agent.

• This Agreement shall define the relative rights of the Notes Collateral Agent and the Note Facility Secured Parties, on the one hand, and the SPV Collateral Agent and the SPV Secured Parties, on the other hand.

• The Borrower and the Notes Collateral Agent hereby agree that they shall not modify the provisions of the Bluestem Securities Purchase Agreement or Bluestem Securities Security Agreement (or any document related to the transactions contemplated hereby) in any manner that adversely affects the SPV Collateral Agent and the Lenders under the SPV Credit Agreement, without the consent of the SPV Collateral Agent, such consent not to be unreasonably withheld, conditioned or delayed.

• For purposes of maintaining the perfection of the Notes Collateral Agent’s interest therein, the Notes Collateral Agent hereby appoints the SPV Collateral Agent as its agent in respect of such funds and other property and the SPV Collateral Agent accepts such appointment; provided, that the SPV Collateral Agent’s sole duty as such agent shall be to hold such funds or other property in trust for the benefit of the Notes.

More Definitions of SPV Collateral

SPV Collateral means (i) the pledge in the shares in the SPV and its General Partner, (ii) the assignment of the Shareholders’ Loan, (iii) the Mortgage in respect of the ENTERPRISE,

SPV Collateral means (i) the pledge in the shares in the SPV and its General Partner, (ii) the assignment of the Shareholders’ Loan, (iii) the Mortgage in respect of the ENTERPRISE, (iv) the Assignment of Earnings, (v) the Assignment of Insurances, (vi) the assignment of monetary claims under the Operational Support Agreement and (vii) the SPV Account Pledges (excluding the Escrow Account and the Retention Account) and where the terms with capital letter is further defined in the Term Sheet. For the sake of clarity; the SPV will provide no guarantee for the Bonds.

SPV Collateral means all assets and property in which either SPV Borrower or either Master Trust has acquired, or purports to have acquired, an interest (including, without limitation, all assets and property which the Borrower has transferred, or purports to have transferred, to any such Person pursuant to the Transaction Documents). “Subordinate Obligations” means all Obligations other than the Senior Obligations. “Subsidiary” means, with respect to any Person, any corporation or other entity of which securities or other ownership interests whose limited purpose is to purchase Eligible Life Insurance Policies. “Successor Servicer” means any Person that succeeds to the duties of the Servicer. “Tax” or “Taxes” means any and all fees (including documentation, recording, license and registration fees), taxes (including net income, gross income, franchise, value added, ad valorem, sales, use, property (personal and real, tangible and intangible) and stamp taxes), levies, imposts, duties, charges, assessments or withholdings of any nature whatsoever, general or special, ordinary or extraordinary, together with any and all penalties, fines, additions to tax and interest thereon, imposed on a Person or for which a Person is liable either directly or by way of an obligation to reimburse or indemnify. For the avoidance of doubt, “Tax” or “Taxes” imposed on the Purchasers or the UTI Owners shall include any tax withholdings on income allocated to or amounts payable to the Purchasers or the UTI Owners and any tax required to be paid over by the Purchasers of the UTI Owners to any taxing authority or required to be withheld from any payment made by or on behalf of the Purchasers or the UTI Owners, but shall not include any Taxes imposed upon anyone else unless such Taxes are in whole or in part the legal responsibility or legal obligation of the Purchasers or the UTI Owners, or can otherwise be collected from the assets or income of the Purchasers or the UTI Owners. “Termination Date” means that date at which there are no Loans outstanding by Borrower to Lenders under this Agreement. 14 “Transaction Documents” means this Agreement, the Purchase and Sale Agreements, the Servicing Agreements, the Promissory Notes, the Master Trust Agreements, the Operating Agreement, the Master Collateral Agent Agreements, the other agreements entered into between Liquidity Providers, the Borrower, the Master Trusts and/or the Master Servicer (including, without limitation, all other “Related Documen...

SPV Collateral is defined in Clause 27.9 (Security Interest) of the Receivables Transfer Agreement.