Securitized property definition

Securitized property means the assets of each of the Members sold to the Issuer LLC pursuant to the related Property Sales Agreement, including without limitation the right to impose, bill, collect, receive and enforce the securitized charges as described in the Financing Order, as adjusted from time to time pursuant to and in accordance with the Financing Order.
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Securitized property means the property right
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Securitized property means the property right 2-64 created under this subchapter, including the right, title, and 2-65 interest of the electric cooperative or its assignee:
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Examples of Securitized property in a sentence

  • Each Participating Member has determined, and each Participating Member hereby covenants to the other Participating Members, that the sale of its Participating Member Securitized Property will not violate any indenture, mortgage, loan agreement or other document to which such Participating Member is a party, and that each Participating Member, as applicable, will obtain any consents, waivers and releases that may be necessary in connection with the sale or pledge of the Securitized Property.

  • Concurrent with the issuance of the Bonds, each Participating Member will sell its Participating Member Securitized Property to the Issuer in accordance with the related Sale Agreement authorized by this financing order to be in the form attached hereto as Exhibit I (the “Sale Agreement”).

  • The sale of such Participating Member Securitized Property will constitute a true sale and absolute and irrevocable transfer of each Participating Member’s Participating Member Securitized Property.

  • The Issuer will pledge the Securitized Property sold to the Issuer by the Participating Members and other collateral described in the Indenture to secure the payment of the Bonds and Ongoing Financing Costs.

  • Pursuant to Section 41.154(d) of the Texas Utilities Code, this financing order shall remain in effect and Securitized Property created hereunder will continue to exist until the Bonds and all Ongoing Financing Costs (as described in this financing order) have been paid in full.

  • All the Securitized Property and other collateral must be held and administered by the Trustee under the Indenture approved for execution by the Issuer by the Authorized Officers of the Participating Members under the terms of this financing order.

  • Transfer, sale or assignment of interest in the Securitized Property to the Issuer or the Trustee, as applicable, shall be perfected against all third parties, including subsequent judicial or other lien creditors, when this financing order becomes effective, transfer documents have been delivered to the assignee, and a notice of that transfer has been filed in accordance with the rules prescribed under Subsection (d) of such section.

  • Under the terms of each Servicing Agreement, a Participating Member’s resignation will not be effective until a successor servicer assumes its obligations in order to continue servicing the Participating Member Securitized Property applicable to such Participating Member without interruption.

  • Concurrent with the issuance of the Bonds, each Participating Member will sell its Participating Member Securitized Property to the Issuer pursuant to a Sale Agreement between the Participating Member and the Issuer.

  • As provided in Section 41.158 of the Texas Utilities Code, each Sale Agreement evidences an absolute and true sale of the Participating Member Securitized Property sold to the Issuer by the Participating Member therein, and is not a secured transaction, and on the date of such transfer, all right, title, and interest, both legal and equitable, will pass to the Issuer.


More Definitions of Securitized property

Securitized property means the Member Securitized Property (as defined in the Financing Order), created pursuant to the Financing Act and the Financing Order, which includes, the rights, title and interest of the Seller (i) in and to the Securitized Charges established under the Financing Order, and (ii) in and to all revenue, collections, claims, payments, money, or proceeds of or arising from the Securitized Charges, which rights, title and interests are herein provided to be sold, transferred, assigned, set over and conveyed by the Seller to the Issuer as of the Closing Date. SECTION 1.02. Other Definitional Provisions.
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Related to Securitized property

  • Securitization Property means the property described in section 10j.

  • Stabilized Property means a completed Property that has achieved an Occupancy Rate of at least eighty percent (80%) for a period of not less than one (1) full calendar quarter.

  • Securitization Assets means any accounts receivable or other revenue streams subject to a Qualified Securitization Financing.

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.

  • Subject Vehicle means the vehicle being tested.

  • Custodial property means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.

  • Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Portfolio Asset means an asset of an investment fund;

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • REO Property A Mortgaged Property acquired by the Trust Fund through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.

  • Collateral Portfolio means all right, title, and interest (whether now owned or hereafter acquired or arising, and wherever located) of the Borrower in the property identified below in clauses (i) through (iv) and all accounts, cash and currency, chattel paper, tangible chattel paper, electronic chattel paper, copyrights, copyright licenses, equipment, fixtures, contract rights, general intangibles, instruments, certificates of deposit, certificated securities, uncertificated securities, financial assets, securities entitlements, commercial tort claims, deposit accounts, inventory, investment property, letter-of-credit rights, software, supporting obligations, accessions, or other property consisting of, arising out of, or related to any of the following (in each case excluding the Retained Interest and the Excluded Amounts):

  • Permitted Securitization means, for any Borrower and its Subsidiaries, any sale, assignment, conveyance, grant and/or contribution, or series of related sales, assignments, conveyances, grants and/or contributions, by such Borrower or any of its Subsidiaries of Receivables (or purported sale, assignment, conveyance, grant and/or contribution) to a trust, corporation or other entity, where the purchase of such Receivables may be funded or exchanged in whole or in part by the incurrence or issuance by the applicable Securitization SPV, if any, of Indebtedness or securities (such Indebtedness and securities being “Attributable Securitization Obligations”) that are to be secured by or otherwise satisfied by payments from, or that represent interests in, the cash flow derived primarily from such Receivables (provided, however, that “Indebtedness” as used in this definition shall not include Indebtedness incurred by a Securitization SPV owed to any Borrower or any of its Subsidiaries, which Indebtedness represents all or a portion of the purchase price or other consideration paid by such Securitization SPV for such receivables or interests therein), where (i) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of such Borrower or any of its Subsidiaries, as applicable, in respect of Receivables sold, assigned, conveyed, granted or contributed, or payments made in respect thereof, are customary for transactions of this type, and do not prevent the characterization of the transaction as a true sale under Applicable Laws (including debtor relief laws) and (ii) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of any Securitization SPV in respect of Receivables sold, assigned, conveyed, granted or contributed or payments made in respect thereof, are customary for transactions of this type.

  • Lead Securitization means, if the First Securitization is the Note A-1 Securitization, such Securitization; provided that, if any other Securitization occurs prior to the Note A-1 Securitization, then the First Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs.

  • Receivables Securitization any financing pursuant to which accounts receivable of the Borrower or any of its Subsidiaries are (or are purported to be) sold or pledged, which financing shall be non-recourse (except for customary limited recourse provisions) to the Borrower and its Subsidiaries.

  • Securitization means one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion of such Note as part of a securitization of one or more mortgage loans.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Securitization Entity means a Wholly Owned Subsidiary of the Borrower (or another Person in which the Borrower or any Subsidiary of the Borrower makes an Investment and to which the Borrower or any Subsidiary of the Borrower transfers accounts receivable and related assets) which engages in no activities other than in connection with the financing of accounts receivable and which is designated by the Board of Directors of the Borrower (as provided below) as a Securitization Entity (i) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (A) is guaranteed by the Borrower or any Restricted Subsidiary of the Borrower (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings); (B) is recourse to or obligates the Borrower or any Restricted Subsidiary of the Borrower in any way other than pursuant to Standard Securitization Undertakings; or (C) subjects any property or asset of the Borrower or any Restricted Subsidiary of the Borrower, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings; (ii) with which neither the Borrower nor any Restricted Subsidiary of the Borrower has any material contract, agreement, arrangement or understanding other than on terms, taken as a whole, no less favorable to the Borrower or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Borrower, other than fees payable in the ordinary course of business in connection with servicing receivables of such entity, standard Securitization Undertakings and other terms, including Purchase Money Notes, typical in Securitization Transactions; and (iii) to which neither the Borrower nor any Restricted Subsidiary of the Borrower has any obligations to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. Any such designation by the Board of Directors of the Borrower shall be evidenced to the Agent (for distribution to the Lenders) by filing with the Agent a certified copy of the Board Resolution of the Borrower giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing conditions.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.