The New Jersey Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation is a legally binding document that outlines the terms and conditions of the underwriting process for equipment receivables. Keywords: New Jersey, underwriting agreement, Advance Equipment Receivable Series LLC, Advance Bank Corporation, equipment receivables. An underwriting agreement is a commonly used legal contract in the financial sector, particularly in the securities' industry. It is a written agreement between two parties, the issuer of securities and the underwriter, that governs the terms of the underwriting process. In this case, the underwriting agreement specifically focuses on equipment receivables. Advance Equipment Receivable Series LLC is the issuer of the securities, which are the equipment receivables. These receivables represent the future cash flows derived from the sale or lease of equipment by Advance. The company packages these receivables into securities known as asset-backed securities (ABS) for offering to investors. Advance Bank Corporation acts as the underwriter in this transaction. The underwriter assumes the role of facilitating the sale of the equipment receivable securities to investors in the market. They are responsible for pricing the securities, managing the underwriting process, and ensuring compliance with applicable laws and regulations. The New Jersey Underwriting Agreement specifies various terms and conditions that govern the relationship between the issuer and the underwriter during the underwriting process. It typically includes provisions related to the securities being underwritten, compensation arrangements, allocation and distribution of securities, representations and warranties, indemnification, termination clauses, governing law, and dispute resolution mechanisms. Different types of New Jersey Underwriting Agreements may exist between Advance Equipment Receivable Series LLC and Advance Bank Corporation, depending on various factors such as the specific type of equipment receivables being offered, the size of the offering, or the characteristics of the investors targeted. For instance, there could be separate agreements for different series of equipment receivables, different tranches within a series, or different offerings altogether. These agreements may also vary in terms of the underwriting fees, how the securities are allocated or distributed, the extent of due diligence and disclosure requirements, and any additional conditions imposed by regulatory authorities. It is crucial for parties involved in the underwriting process, such as Advance Equipment Receivable Series LLC and Advance Bank Corporation, to carefully draft and review the underwriting agreement to ensure compliance with applicable laws, protect their interests, and establish a clear understanding of their obligations and responsibilities.
New Jersey Underwriting Agreement between Advanta Equipment Receivable Series LLC and Advanta Bank Corporation
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