Subsidiary SPC definition
Subsidiary SPC means each Finance Subsidiary and each other Subsidiary organized as a special purpose entity solely (a) to acquire accounts, chattel paper or related rights from the Borrower or its Subsidiaries pursuant to one or more Permitted Asset Securitizations, and (b) to sell, convey, pledge or otherwise transfer such assets, any interests therein and any assets related thereto, to one or more trusts, partnerships, corporations or other entities under such Permitted Asset Securitizations.
Subsidiary SPC means each Subsidiary organized as a special purpose entity solely (i) to acquire accounts, chattel paper or related rights from the Company or its Subsidiaries pursuant to one or more Permitted Asset Securitizations, and (ii) to sell, convey, pledge or otherwise transfer such assets, any interests therein and any assets related thereto, to one or more trusts, partnerships, corporations or other entities under such Permitted Asset Securitizations.
Examples of Subsidiary SPC in a sentence
Each Subsidiary of the Borrower as of the Closing Date is listed on Schedule 6.1(b) (and each Finance Subsidiary and Subsidiary SPC as of the Closing Date is designated as such on Schedule 6.1(b)).
Each Subsidiary of the US Borrower as of the Closing Date is listed on Schedule 6.1(b) (and each Finance Subsidiary and Subsidiary SPC as of the Closing Date is designated as such on Schedule 6.1(b)).