Common use of Asset Swap Clause in Contracts

Asset Swap. Any transfer of assets of the Borrower or any of its Subsidiaries to any Person other than the Parent, the Borrower or a wholly-owned Subsidiary of the Parent or the Borrower in exchange for assets of such Person if such exchange would qualify, whether in part or in full, as a like-kind exchange pursuant to §1031 of the Code. Nothing in this definition shall require the Parent, the Borrower or any of its Subsidiaries to elect that §1031 of the Code be applicable to any Asset Swap. Assignee Group. Two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.

Asset Swap. Any transfer of assets of the Borrower or any of its Subsidiaries the Borrower, any Subsidiary, the Austin Partnership or RAM to any Person other than the Parent, the Borrower or a wholly-owned Subsidiary of the Parent or the Borrower in exchange for assets of such Person if such exchange would qualify, whether in part or in full, as a like-kind exchange pursuant to §1031 of the Code. Nothing in this definition shall require the Parent, the Borrower Borrower, any Subsidiary, the Austin Partnership or any of its Subsidiaries RAM to elect that §1031 of the Code be applicable to any Asset Swap. Assignee Group. Two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.