Consumer Loan Collateral definition

Consumer Loan Collateral. All of the Borrower's right, title and interest in each consumer loan pledged by the Borrower to the Agent as Collateral, now existing or hereafter arising, (a) for which the original promissory note, comparable instrument or installment sales contract shall, at the time of determination, be in the possession of the Agent (including possession through an agent, bailee or custodian) or (b) which shall be identified by the Borrower as being pledged to the Agent pursuant to the Security Agreement as evidenced by a Borrowing Base Certificate or other means by which the promissory note, comparable instrument or installment sales contract may be identified to the grant of the security interest under the Security Agreement.
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Consumer Loan Collateral shall have the meaning provided in Section 4.1.1 herein.
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Consumer Loan Collateral means personal or real property or guaranties of third parties granted or otherwise obtained as security for the obligations and liabilities of the obligor under a Consumer Loan.
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Examples of Consumer Loan Collateral in a sentence

  • The Agent shall be under no obligation to review or in any manner approve any Consumer Loan Collateral delivered to the Agent from time to time, although nothing herein shall preclude the Agent from conducting whatever review it deems appropriate.

  • The Borrower shall take any actions required by the Agent to obtain the release of any lien or security interest in favor of any party other than the Agent in any Consumer Loan Collateral.

  • If the Agent or the Banks at any time shall determine that title to any Collateral or the assignment to the Agent of the Borrower's rights in such Collateral shall be defective in any respect, the Borrower shall within sixty (60) days after a request by the Agent provide to the Agent and the Banks title insurance in favor of the Agent for the pro rata benefit of the Banks acceptable to the Agent for 100% of the principal amount of Consumer Loan Collateral pledged hereunder.

  • The Servicer shall administer all amounts due to the Borrower with respect to the Consumer Loan Collateral and shall direct payment to the Lock Box of all amounts to be collected with respect to the Consumer Loan Collateral.

  • The Agent hereby acknowledges and agrees that it will release its security interest and lien on the Textron Receivables and the Other Textron Collateral (in each case as defined in the Security Agreement) upon Textron's release (in form and substance satisfactory to the Agent) of Textron's second priority lien on the Consumer Loan Collateral.

  • The Borrower shall promptly deliver to the Agent or the Collateral Custodian any additional documents related to any Consumer Loan Collateral which the Borrower acquires after delivery to the Agent or the Collateral Custodian of the Required Consumer Loan Documents.

  • Pursuant to the Lock Box Agreement, JPMC shall receive in the post office box identified therein all payments on loans constituting Consumer Loan Collateral and other consumer loans pledged to the Agent (other than consumer loans constituting Shared Collateral (as defined in the Security Agreement)) in the ordinary course of business.

  • The Borrower shall not in any way notify any consumer borrower of an consumer loan constituting Consumer Loan Collateral that payments should be made other than to the Servicer or JPMC.

  • Upon an Event of Default, at the election of the Agent, the Borrower agrees that the Standby Servicer or such other servicer as the Agent may select in its sole and absolute discretion may assume control over the servicing of the Consumer Loan Collateral or any other consumer loans pledged to the Agent, reporting to the Banks.

  • The Borrower will undertake the diligent and timely collection of all amounts due under each consumer loan in connection with the credit sale of a Timeshare Interest, including the Consumer Loan Collateral, and will bear the entire expense of such collection.

Related to Consumer Loan Collateral

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Consumer loan means a loan to one or more individuals for household, fam- ily, or other personal expenditures. A consumer loan does not include a home mortgage, small business, or small farm loan. Consumer loans include the following categories of loans:

  • Prepetition Collateral shall refer to (i) all of the Borrower’s personal property upon which a security interest may be granted under the Uniform Commercial Code, (ii) all of the Borrower’s real property, (iii) all of the Borrower’s assets in or upon which a lien or other security interest has otherwise been granted in favor or for the benefit of the Prepetition Agent and the Prepetition Lenders in connection with, pursuant to, or under, the Prepetition Credit Agreement and the other Prepetition Financing Documents, and (iv) any of the Borrower’s assets otherwise held by the Prepetition Agent or any Prepetition Lender or otherwise provided to the Prepetition Agent or any Prepetition Lender as security for the Prepetition Indebtedness, in each case that existed as of the Petition Date or at any time prepetition and, subject to section 552 of the Bankruptcy Code, postpetition proceeds, products, offspring, rents and profits of all of the foregoing.

  • Consumer Loans means Loans to individuals for household, family and other personal expenditures (including United States and/or State-guaranteed student loans and extensions of credit pursuant to a credit card plan or debit card plan).

  • Canadian Collateral means any and all property owned, leased or operated by a Person covered by the Canadian Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Canadian Secured Obligations.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • First Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • UCC Collateral is defined in Section 3.03.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Foreign Collateral means all Collateral of Foreign Loan Parties securing the Guaranteed Foreign Obligations.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Collateral has the meaning set forth in Section 2.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.