Term Securitization

Term Securitization. Any private or public term securitization transaction (a) undertaken by the Servicer, the Borrower or an Affiliate of the Servicer or the Borrower that is secured, directly or indirectly, by any Loan Asset currently or formerly included in the Collateral or any portion thereof or any interest therein, including, without limitation, any collateralized loan or collateralized debt offering or other asset securitization and (b) in which the Borrower, the Servicer or an Affiliate of the Borrower or... the Servicer has agreed to purchase 100% of the equity in such term securitization transaction. For the avoidance of doubt, notwithstanding any agreement by the Borrower, the Servicer or an Affiliate of the Borrower or the Servicer to purchase 100% of the equity in such term securitization transaction, any such party agreeing to so purchase may designate other Persons as purchasers of such equity provided such party or parties remain primarily liable therefor if such designees fail to purchase in connection with the closing date of such term securitization and/or, after the closing of such term securitization, may transfer equity it purchases at the closing thereof. View More