Third Party Credit Enhancement definition

Third Party Credit Enhancement if applicable, shall mean any credit enhancement obtained by the Servicer in accordance with Section 10. "Third Party Credit Enhancement Account," if applicable, shall have the meaning specified in Section 7(e). "Third Party Credit Enhancement Agreement," if applicable, shall mean the Agreement among the Seller, the Servicer, the Trustee and the Third Party Credit Enhancement Provider with respect to the Third Party Credit Enhancement.
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Third Party Credit Enhancement. Fee," if applicable, shall mean, on any Distribution Date, the sum of all fees, costs and interest payable to the Third Party Credit Enhancement Provider or the Trustee as administrator of the Third Party Credit Enhancement for the related Due Period pursuant to the Third Party Credit Enhancement Agreement.
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Third Party Credit Enhancement. Provider," if applicable, shall have the meaning set forth in the Series Term Sheet.
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Examples of Third Party Credit Enhancement in a sentence

  • The percentage of the Series Third Party Credit Enhancement for each outstanding Class of such Series shall not change upon the issuance of the Additional Certificates.

  • The interest of the Third Party Credit Enhancement Provider in the Third Party Credit Enhancement Account shall be subordinated to the interests of the Certificateholders of this Series to the extent provided herein and in the Third Party Credit Enhancement Agreement.

  • Pursuant to authority granted to it under Section 3.01(b) of the Pooling and Servicing Agreement, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Third Party Credit Enhancement Account for the purpose of carrying out the duties of the Servicer hereunder.

  • The Trust shall possess all right, title and interest in all funds on deposit from time to time in the Third Party Credit Enhancement Account and in all proceeds thereof.

  • The Third Party Credit Enhancement Account shall be under the sole dominion and control of the Trustee as the administrator of the Third Party Credit Enhancement for the benefit of the Certificateholders of this Series and the Third Party Credit Enhancement Provider.

  • Any funds on deposit in the Third Party Credit Enhancement Account for more than one Business Day shall be invested in Permitted Investments under Section 4.02(c) of the Pooling and Servicing Agreement.

  • The Servicer at all times shall maintain accurate records reflecting each transaction in the Third Party Credit Enhancement Account.

  • The Third Party Credit Enhancement Provider shall not be entitled to reimbursement from the assets of the Trust for any withdrawals from the Third Party Credit Enhancement Account except as specifically provided in this Series Supplement.

  • The Paying Agent also shall have the revocable authority to make withdrawals from the Third Party Credit Enhancement Account.

  • The Servicer, the Trustee and the Seller shall promptly enter into any such successor Third Party Credit Enhancement Agreement, and the Servicer shall use its best efforts to secure the signature of any other required party to such agreement.


More Definitions of Third Party Credit Enhancement

Third Party Credit Enhancement means any outside or third party credit enhancement which may include, but is not limited to, a cash collateral account, a letter of credit, a surety bond, an insurance policy or any other form of credit enhancement.
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Third Party Credit Enhancement means, with respect to a Party and this Agreement, any Credit Enhancement that is executed or provided by one or more Third Parties (whether or not a Party is also a party thereto), regardless of whether or not such document is identified as a Third Party Credit Enhancement.
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Third Party Credit Enhancement means, with respect to a Party and a Covered Agreement, any Credit Enhancem ent that is executed or provided by one or more Third Parties (whether or not a Party is also a party thereto), regardless o f w hether or not such docum ent is identified as a Third Party Credit Enhancement.
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Related to Third Party Credit Enhancement

  • Credit Enhancement means any credit enhancement or credit support arrangement in support of the obligations of Dealer under or with respect to this Confirmation, including any guarantee, collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Credit Enhancements means surety bonds, insurance policies, letters of credit, guarantees and other

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Enhancement Provider means, with respect to any Series, the Person, if any, designated as such in the related Supplement.

  • Credit Enhancement Agreements means, collectively, any documents, instruments, guarantees or agreements entered into by the Issuer, any of its Restricted Subsidiaries or any Securitization Entity for the purpose of providing credit support (that is reasonably customary as determined by Issuer’s senior management) with respect to any Permitted Funding Indebtedness or Permitted Securitization Indebtedness.

  • Series Enhancement means the rights and benefits provided to the Trust or the Investor Certificateholders of any Series or Class pursuant to any letter of credit, surety bond, insurance policy, cash collateral guaranty, subordinated interest in the Trust Assets, cash collateral account, collateral interest, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate swap agreement, interest rate cap agreement or other similar arrangement. The subordination of any Series or Class to another Series or Class shall be deemed to be a Series Enhancement.

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Liquidity Facility Provider means a Person that is a party to a Liquidity Facility with the Authority with respect to specified Bonds and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.

  • Credit Enhancer means the Credit Enhancer identified in the Adoption Annex.

  • Derivative Counterparty means any party to any Derivative Agreement other than the Issuer or the Indenture Trustee.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Collateral Provider means the Security Collateral Provider under a Security Document or the Transferor under a Transfer Annex, according to context, in relation to which “Collateral Taker” means the Secured Party or the Transferee, as the case may be.

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Derivative Agreement means any currency, interest rate or other swap, cap, collar, guaranteed investment contract or other derivative agreement.

  • Seller credit card means either of the following:

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Senior Enhancement Percentage With respect to any Distribution Date, the percentage obtained by dividing (x) the sum of (i) the aggregate Class Certificate Balance of the Subordinated Certificates and (ii) the Subordinated Amount (in each case after taking into account the distributions of the Principal Distribution Amount for such Distribution Date) by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date.

  • Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Liquidity Providers means, collectively, the Class A Liquidity Provider and the Class B Liquidity Provider.

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.