Collateral Specified Interest definition

Collateral Specified Interest means, for each Borrower, the Specified Interest designated according to the related Titling Company LLC Agreement as a "Collateral Specified Interest."
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Examples of Collateral Specified Interest in a sentence

  • Each party hereto acknowledges and agrees (and each holder or pledgee of the Exchange Note, by virtue of its acceptance of such Exchange Note or pledge thereof acknowledges and agrees) that (a) the Closed-End Collateral Specified Interest is a separate series of the Titling Trust as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del.

  • The Indenture Trustee, by entering into this Indenture, and each Noteholder and Note Owner, by accepting a Note or an interest or participation in a Note, acknowledge and agree that they have no right, title or interest in or to any other assets of the Titling Companies, including assets allocated to Specified Interests other than the Collateral Specified Interest (“Other Borrower Assets”).

  • Each of the Indenture Trustee, by entering into this Indenture, and each Noteholder or Note Owner, by accepting a Note, or, in the case of a Note Owner, a beneficial interest in a Note, hereby covenants and agrees that (a) the Closed-End Collateral Specified Interest is a separate series of the Titling Trust as provided in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del.

  • No Lease or Leased Vehicle has been allocated to any Specified Interest other than a Collateral Specified Interest.

  • Each Titling Company allocates the leases and leased vehicles to a separate series of limited liability company interests in the Titling Company designated as the "Collateral Specified Interest" or the "EV Specified Interest" and pledges them as Collateral to secure the Revolving Facility.

  • CAB West Holdings, LLC is the sole Member of and the holder of the Collateral Specified Interest in CAB West, which represents the entire limited liability company interest in certain motor vehicle leases and leased vehicles acquired by CAB West.

  • Each Titling Company allocates the leases and leased vehicles to a separate series of limited liability company interests in the Titling Company designated as the "Collateral Specified Interest" and pledges them as Collateral to secure the Revolving Facility.

  • Each LLC Party has duly authorized by all requisite action under the Delaware Limited Liability Company Act the execution and delivery of the Transaction Documents to which it is a party and the Transaction Notices that it has delivered and the consummation of the transactions contemplated thereby (including the issuance and delivery of the Collateral Specified Interest Certificates and the Exchange Note).

  • The Indenture Trustee, by entering into this Indenture, and each Noteholder and Note Owner, by accepting a Note or a beneficial interest in a Note, acknowledge and agree that they have no right, title or interest in or to any other assets of the Titling Companies, including assets allocated to Specified Interests other than the Collateral Specified Interest or the EV Specified Interest ("Other Borrower Assets").

  • The Titling Trust, the Closed-End Collateral Agent and the Servicer have entered into that certain Fifth Amended and Restated Closed-End Servicing Agreement, dated as of December 15, 2009, as amended, to provide that such agreement will constitute the “Closed-End Servicing Agreement” (as defined in the Titling Trust Agreement) with respect to the Closed-End Collateral Specified Interest, which provides, among other things, for the servicing of the Titling Trust Assets by the Servicer.

Related to Collateral Specified Interest