Legal
SPV
Also known as: special-purpose vehicle, special-purpose entity
status: draft
Special-purpose vehicle. A limited-purpose entity used to hold collateral and separate it from the originator operating company.
What to watch
SPV setup is only useful if separateness, cash movement, asset transfer, and governance are maintained after closing.
Referenced in 91 topics
ABF vs. traditional lending (when ABF makes sense, when it doesn't) foundations Account control agreements documentation Accounts and cash management mechanics Administration agreement documentation Aircraft leases asset-classes Auto loans and leases asset-classes Back leverage (provider perspective) capital-sources Basel III/IV capital treatment regulatory BNPL receivables asset-classes Cash operations and waterfall execution operations-lifecycle Catastrophe bonds asset-classes CECL and accounting considerations accounting-valuation Cell tower and data center ABS (digital infrastructure) asset-classes Collateralized reinsurance, ILWs, and sidecars asset-classes Conduit and ABCP programs structures Container leases asset-classes Credit funds and private capital capital-sources Credit-linked notes / synthetic securitizations structures Deal autopsy: why deals fail playbooks Deal timeline matrix appendix Distressed market playbook market-landscape Due diligence question bank documentation Early-stage financing guide playbooks ESG and green ILS asset-classes EU/UK securitization regulations legal Financial covenants mechanics Forward flow agreements structures GAAP vs IFRS accounting comparison accounting-valuation Healthcare receivables asset-classes How ABF works (5-minute overview) foundations Infrastructure debt asset-classes Insurance capital capital-sources Key participants asset-classes Legal counsel counterparties Legal opinions and third-party reports documentation Managing multiple facilities playbooks Marketplace lending and fintech-originated asset-classes Music royalties and content IP asset-classes NAIC designations and regulatory framework capital-sources NAIC filing and designation deep dive legal Navigating the deal process playbooks Other counterparties counterparties Participation structures structures Pool formation and onboarding operations-lifecycle Preparing your data room playbooks Private placement / bespoke structures structures Private placement memorandum (PPM) documentation Questions to ask your legal team playbooks Rail cars and rolling stock asset-classes Rated note feeders structures Rating agencies counterparties Rating agency engagement for funds playbooks Repackaging structures structures Reps, warranties, and enforcement documentation Revenue-based financing asset-classes Risk retention rules legal Sale and contribution agreement documentation Sample term sheet (annotated) appendix Security and pledge agreements documentation Selecting a fund administrator playbooks Selecting and working with trustees playbooks Selecting your law firm playbooks Servicing agreement documentation Shipping and maritime finance asset-classes Significant risk transfer (SRT) structures Sourcing capital for your portfolio playbooks Sourcing capital for your portfolio playbooks SPVs and bankruptcy remoteness legal Structuring deals for investor appeal playbooks Structuring for tax-exempt investors legal Tax considerations for ABF structures legal Term securitization (ABS/MBS) structures Term sheet anatomy documentation The ABF ecosystem (players, roles, and how they interact) foundations The economics of ABF for originators (worked examples) playbooks The originator's readiness assessment playbooks Top deal process mistakes playbooks Trade receivables and supply chain finance asset-classes Transitioning between capital providers playbooks True sale and perfection legal Trustees counterparties Understanding back leverage (LP perspective) playbooks Understanding deal fees playbooks Volcker Rule implications legal Warehouse facilities structures What capital providers care about playbooks What is negotiable by structure type playbooks Whole business securitization asset-classes Whole loan sales structures Wind-down lifecycle-events Working with accountants and auditors playbooks