California Underwriting Agreement between Advanta Equipment Receivable Series LLC and Advanta Bank Corporation

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• Control #: US-EG-9171
• Format: Word; Rich Text

Description

Underwriting Agreement between Advanta Equipment Receivable Series 2000-_____ LLC and Advanta Bank Corp. dated 00/00. 14 pages A California Underwriting Agreement is a legally binding contract between Advance Equipment Receivable Series LLC (AER) and Advance Bank Corporation (ABC) concerning the underwriting of a financial transaction related to equipment receivables. This agreement outlines the terms and conditions, roles, and responsibilities of both parties involved in the underwriting process. Under the California Underwriting Agreement, AER, as the issuer, seeks to obtain funding by offering equipment receivables as a financial asset to ABC, the underwriter. In return, ABC agrees to purchase the equipment receivables at a predetermined price, allowing AER to access immediate funds while transferring the risk associated with those receivables to ABC. Keywords: California Underwriting Agreement, Advance Equipment Receivable Series LLC, Advance Bank Corporation, underwriting of financial transaction, equipment receivables, terms and conditions, roles, responsibilities, funding, financial asset, purchase, predetermined price, immediate funds, risk transfer. Different types of California Underwriting Agreements between AER and ABC can be distinguished based on the specific nature of the transaction, such as: 1. Equipment Receivable Underwriting Agreement: This type of agreement focuses on the underwriting of equipment receivables, which may include financing for construction equipment, manufacturing machinery, technology devices, or any other tangible assets generating receivables. 2. Securitized Underwriting Agreement: In this scenario, the California Underwriting Agreement involves the securitization of equipment receivables. AER packages these assets as financial securities, often in the form of asset-backed securities (ABS), to be sold to ABC. Such agreements allow AER to convert illiquid receivables into tradable financial instruments. 3. Revolving Underwriting Agreement: This agreement establishes a revolving line of credit between AER and ABC. It provides AER with the flexibility to submit equipment receivables for underwriting periodically, allowing for continuous funding as new receivables arise. ABC commits to underwriting these assets within the agreed terms. 4. Syndicated Underwriting Agreement: When the underwriting requirements exceed the capacity of ABC, a syndicated underwriting agreement can be employed. AER engages multiple financial institutions, including ABC, to collectively underwrite the equipment receivables. This type of agreement facilitates larger and more complex funding transactions. Keywords: Equipment Receivable Underwriting Agreement, securitized underwriting, revolving underwriting, syndicated underwriting.

A California Underwriting Agreement is a legally binding contract between Advance Equipment Receivable Series LLC (AER) and Advance Bank Corporation (ABC) concerning the underwriting of a financial transaction related to equipment receivables. This agreement outlines the terms and conditions, roles, and responsibilities of both parties involved in the underwriting process. Under the California Underwriting Agreement, AER, as the issuer, seeks to obtain funding by offering equipment receivables as a financial asset to ABC, the underwriter. In return, ABC agrees to purchase the equipment receivables at a predetermined price, allowing AER to access immediate funds while transferring the risk associated with those receivables to ABC. Keywords: California Underwriting Agreement, Advance Equipment Receivable Series LLC, Advance Bank Corporation, underwriting of financial transaction, equipment receivables, terms and conditions, roles, responsibilities, funding, financial asset, purchase, predetermined price, immediate funds, risk transfer. Different types of California Underwriting Agreements between AER and ABC can be distinguished based on the specific nature of the transaction, such as: 1. Equipment Receivable Underwriting Agreement: This type of agreement focuses on the underwriting of equipment receivables, which may include financing for construction equipment, manufacturing machinery, technology devices, or any other tangible assets generating receivables. 2. Securitized Underwriting Agreement: In this scenario, the California Underwriting Agreement involves the securitization of equipment receivables. AER packages these assets as financial securities, often in the form of asset-backed securities (ABS), to be sold to ABC. Such agreements allow AER to convert illiquid receivables into tradable financial instruments. 3. Revolving Underwriting Agreement: This agreement establishes a revolving line of credit between AER and ABC. It provides AER with the flexibility to submit equipment receivables for underwriting periodically, allowing for continuous funding as new receivables arise. ABC commits to underwriting these assets within the agreed terms. 4. Syndicated Underwriting Agreement: When the underwriting requirements exceed the capacity of ABC, a syndicated underwriting agreement can be employed. AER engages multiple financial institutions, including ABC, to collectively underwrite the equipment receivables. This type of agreement facilitates larger and more complex funding transactions. Keywords: Equipment Receivable Underwriting Agreement, securitized underwriting, revolving underwriting, syndicated underwriting.