Term Takeout definition

Term Takeout means any disposal of any or all Purchased Receivables by the Issuer, directly or indirectly, to a company that issues asset backed securities secured by Receivables or other assets originated or acquired by a member of Volkswagen Group in connection with term issuances of debt instruments of such separate company.
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Term Takeout. Any transaction, whether a whole-loan sale, a term securitization or any other financing that results in a repayment of all or a portion of the Advances Outstanding under the Receivables Funding Agreement.
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Examples of Term Takeout in a sentence

  • No principal shall be paid on the Notes during the Revolving Period, except: (1) to the extent the relevant Series of Notes qualifies as an Amortising Series; or (2) in the context of a disposal of assets by the Issuer as set out in clause 6 (Early Settlement, Interest Compensation Event, Clean-up Call, Term Takeout) of the Receivables Purchase Agreement.

  • The Issuer at the direction of the Trust Manager (acting on the instructions of the Sub-Trust Manager) may, on any Payment Date, for the purpose of a Term Takeout offer to sell and assign to a securitisation vehicle nominated by the Seller any or all Purchased Receivables provided that each Rating Agency has confirmed in writing that such Term Takeout will not result in a downgrade, qualification or withdrawal of the rating assigned to any outstanding Notes by that Rating Agency.

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and guarantees as set out in Clauses 8.1 and 8.2 (Warranties and Representations) of the Receivables Purchase Agreement at the time of the transfer to the Transferee.

  • The Issuer may, on any Payment Date, for the purpose of a Term Takeout offer to sell and assign to a securitisation vehicle nominated by the Seller any or all Purchased Receivables provided that the Rating Agencies shall have confirmed (by way of press release or otherwise) that the sale of Term Takeout Receivables will not in and of itself result in a downgrade, withdrawal or qualification of the rating assigned to Class A Notes or the Class B Notes prior to the Term Takeout.

  • The selection of Term Takeout Receivables will be made on a random basis and the proceeds from any Term Takeout will be paid into the Distribution Account but will not be applied according to the Order of Priority but instead be distributed as separately provided in clause 20.3 ( Order of Priority) of the Trust Agreement.

  • The pipe was split longitudinally in order to expose the inner surface to which the necessary sand grains were fixed by bituminous paint or by Chatterton’s compound.

  • The selection of Term Takeout Receivables will be made on a random basis (taking into account, however, any eligibility criteria agreed between the Seller and the respective Transferee) and the proceeds from any Term Takeout will required to be paid into the Distribution Account but will not be applied according to the Order of Priority but instead be distributed as separately provided in Clause 22.3 (Order of Priority) of the Trust Agreement.

  • Any such randomly selected Term Takeout Receivables shall comply with the same warranties and guarantees as set out in clauses 6.1 and 6.2 (Warranties by VWL with respect to the Purchased Lease Receivables) of the Receivables Purchase Agreement at the time of the transfer to the Transferee.

  • Any such randomly selected Term Takeout Receivable shall comply with the same warranties and representations as set out in Clauses 9.1 (Warranties and Representations) of this Agreement at the time of the transfer to the Transferee.

  • No principal shall be paid on the Notes during the Revolving Period, except (i) to the extent the relevant Series of Notes qualifies as an Amortising Series, or (ii) in the context of a disposal of assets by the Issuer as set out in Clause 10.8 (Early Settlement, Clean-Up Call, Term Takeout) of the Receivables Purchase Agreement.

Related to Term Takeout

  • Takeout Commitment means a commitment of Seller to sell one or more Mortgage Loans to a Takeout Investor, and the corresponding Takeout Investor’s commitment back to Seller to effectuate the foregoing.

  • Extended Loans has the meaning specified in Section 2.17(a).

  • Extended Loan shall have the meaning assigned to such term in Section 2.26(a).

  • Term Loan Extension Series has the meaning set forth in Section 2.16(a).

  • Takeout Investor means any institution which has made a Takeout Commitment and has been approved by Buyer, in its sole and absolute discretion.

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Term SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Term A Loan Commitment means, for each Lender, the commitment of such Lender to make its portion of the Term A Loan, in the principal amount with respect to each such Lender equal to the amount set forth opposite the name of such Lender under "Term A Loan Commitment" on Schedule 1.01(A).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • VA Approved Lender means a lender which is approved by the VA to act as a lender in connection with the origination of VA Loans.

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Extension Series means all Extended Term Loans and Extended Revolving Credit Commitments that are established pursuant to the same Extension Amendment (or any subsequent Extension Amendment to the extent such Extension Amendment expressly provides that the Extended Term Loans or Extended Revolving Credit Commitments, as applicable, provided for therein are intended to be a part of any previously established Extension Series) and that provide for the same interest margins, extension fees, and amortization schedule.

  • Loan Tranche The Series 2007-2 Class 1A3 Notes will fund the Series 2007-2 AAA (Class 1A3) Loan Tranche which shall have the following terms:

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Total Loan Commitment means an amount equal to the aggregate amount of all Loan Commitments.

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).