Qualifying Assets Sample Clauses

Qualifying Assets i. The Reinsurer shall arrange for assets to be deposited into the Trust Account. Prior to depositing non-cash assets with the Trustee, the Reinsurer shall execute assignments, endorsements in blank or transfer legal title to the Trustee or the Trustee’s nominee of all shares, obligations or any other assets requiring assignment in order that the Ceding Company or the Trustee, upon direction of the Ceding Company, may, whenever necessary, negotiate any such assets without consent or signature from the Reinsurer or any other person or entity in accordance with the terms of the Trust Agreement. ii. Assets deposited in the Trust Account shall be valued according to their current fair market value. The Trust Account shall consist only of the following (“Qualifying Assets”): cash (United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender), instruments that are acceptable to the commissioner of the insurance department of the Ceding Company’s state of domicile, and investments of the types specified in accordance with the requirements of the Ceding Company’s state of domicile insurance law and investments; provided that such investments are issued by an institution that is not the parent, subsidiary or affiliate of either the Ceding Company or the Reinsurer.
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Qualifying Assets. The Reinsurer shall arrange for assets to be deposited into the Trust Account. Prior to depositing non-cash assets with the Trustee, the Reinsurer shall execute assignments, endorsements in blank or transfer legal title to the Trustee or the Trustee’s nominee of all shares, obligations or any other assets requiring assignment in order that the Ceding Company or the Trustee, upon direction of the Ceding Company, may, whenever necessary, negotiate any such assets without consent or signature from the Reinsurer or any other person or entity, other than the Trustee, in accordance with the terms of the Trust Agreement. Assets deposited in the Trust Account shall be valued according to their current fair market value. The Trust Account assets shall consist only of Qualifying Assets. The Reinsurer shall, within ten (10) days of the end of each calendar quarter, provide the Ceding Company with a list of assets in the Trust Account as of the end of such quarter. The list shall be accompanied by a written statement from the Reinsurer that such assets are Qualifying Assets. At the end of each calendar quarter, the Reinsurer shall ensure that the assets in the Trust Account have a market value equal to or exceeding the “Required Balance” as described in paragraph 7.05.
Sample 1
Qualifying Assets. See (S)4.9(b) hereof. ----------------- Reimbursement Agreements. As defined in the Preamble hereto. ------------------------ Reimbursement Agreement Debt. Collectively, the Bank of America ---------------------------- Reimbursement Agreement Debt and the PNC Reimbursement Agreement Debt.
Sample 1
Qualifying Assets. 84 Quota
Sample 1
Qualifying Assets. A Portfolio Investment is a “Qualifying Asset” for purposes of this Agreement if BGSL has agreed to acquire such Portfolio Investment on or prior to the time such Portfolio Investment is acquired by Seller. Notwithstanding the foregoing, a Portfolio Investment shall not be a Qualifying Asset, as of any proposed Acquisition Date, if BGSL could not acquire such asset without (i) violating the 1940 Act (including the requirements of qualifying as a business development company), (ii) failing to comply the requirements applicable to a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, or (iii) violating an investment restriction applicable to BGSL. For the avoidance of doubt, distress, default or impairment of a Portfolio Investment shall not result in disqualification for purposes of this Agreement. Notwithstanding the foregoing, a Portfolio Investment shall not be a Qualifying Asset unless it is a loan made by Seller, or otherwise by a commercial bank, an investment bank, an investment fund or other financial institution; provided that any such loan is similar to those typically made to a commercial client or syndicated, sold or participated in by a commercial bank, institutional loan investor or other financial institution in the ordinary course of business to a U.S. middle market borrower that meets each of the following criteria: (i) such loan is a senior secured loan (i.e., first lien or unitranche loans), (ii) such loan is consistent with the investment objectives and strategies of BGSL as of the date hereof and (iii) such loan by its terms may be assigned, participated or otherwise transferred to Seller under the Agency Agreement, and further assigned, participated or otherwise transferred from Seller to BGSL pursuant to this Agreement or the Blackstone Acquirer pursuant to Section 3.3.1 of the Agency Agreement, in each case without further consent by any third party (including, without limitation, the borrower and any other lender under the underlying loan, but excluding any ordinary course consent or approval required by an agent of an underlying loan). Notwithstanding the foregoing, the following are not Qualifying Assets: (i) equity of any issuer (other than warrants or other “equity kickers”) and (ii) broadly syndicated loans (other than “anchor” investments in syndicated loans or other large founding stakes).
Sample 1
Qualifying Assets. (i) not engage in any business other than the holding, managing or both the holding and managing, of "qualifying assets" within the meaning of section 110(1) of the TCA and activities ancillary thereto; (ii) ensure that: (a) the market value of all "qualifying assets" within the meaning of section 110(1) of the TCA held or managed; or (b) the market value of all qualifying assets in respect of which the Issuer has entered into legally enforceable arrangements, is not less than EUR 10,000,000 on the day on which the qualifying assets are first acquired, first held, or an arrangement referred to in (b) above is first entered into, by the Issuer.
Sample 1
Qualifying Assets i. The Reinsurer shall arrange for assets to be deposited into the Trust Account. Prior to depositing non-cash assets with the Trustee, the Reinsurer shall execute assignments, endorsements in blank or transfer legal title to the Trustee or the Trustee’s nominee of all shares, obligations or any other assets requiring assignment in order that the Ceding Company or the Trustee, upon direction of the Ceding Company, may, whenever necessary, negotiate any such assets without consent or signature from the Reinsurer or any other person or entity in accordance with the terms of the Trust Agreement. ii. Assets deposited in the Trust Account shall be valued according to their current fair market value. The Trust Account shall consist only of the following (“Qualifying Assets”): cash (United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender), and/or investments of the types permitted by the Texas Insurance Code; provided that such investments are issued by an institution that is not the parent, subsidiary or affiliate of either the Ceding Company or the Reinsurer.
Sample 1
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Related to Qualifying Assets

  • QUALIFYING USE The Applicant’s Qualified Property described in Section 3.3 qualifies for a tax limitation agreement under Section 313.024(b)(5) of the TEXAS TAX CODE as a renewable energy electric generation facility.

  • Remaining Assets In the event that the School closes, the School shall return any remaining public assets to the State, provided that any outstanding obligations of the School are fulfilled first pursuant to Sec. 302D-19, HRS.

  • Qualified Small Business Stock The Company shall use commercially reasonable efforts to cause those shares of Series A Preferred Stock that are Registrable Securities, as well as any shares of Common Stock into which such shares of Series A Preferred Stock are converted, within the meaning of Section 1202(f) of the Internal Revenue Code (the “Code”), to constitute “qualified small business stock” as defined in Section 1202(c) of the Code; provided, however, that such requirement shall not be applicable if the Board of Directors of the Company determines, in its good-faith business judgment, that such qualification is inconsistent with the best interests of the Company. The Company shall submit to its stockholders (including the Investors) and to the Internal Revenue Service any reports that may be required under Section 1202(d)(1)(C) of the Code and the regulations promulgated thereunder. In addition, within twenty (20) business days after any Investor’s written request therefor, the Company shall, at its option, either (i) deliver to such Investor a written statement indicating whether (and what portion of) such Investor’s interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c) of the Code or (ii) deliver to such Investor such factual information in the Company’s possession as is reasonably necessary to enable such Investor to determine whether (and what portion of) such Investor’s interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c) of the Code.

  • Qualified Property Applicant’s Qualified Property is described in Schedule 2.3, which is incorporated herein by reference. The Parties expressly agree that the location of the Qualified Property shall be within the Reinvestment Zone as set out in Schedule 2.1.

  • Qualifying Mortgage Loans In order for a mortgage loan to be a Qualifying Loan it must meet all of the following criteria, which must be confirmed by the lender: • The collateral securing the mortgage loan is owner-occupied and the owner’s primary residence; and • The mortgagor has a first priority lien on the collateral; and • Either the borrower is at least 60 days delinquent or a default is reasonably foreseeable. Modification Process The lender shall undertake a review of its mortgage loan portfolio to identify Qualifying Loans. For each Qualifying Loan, the lender shall determine the net present value of the modified loan and, if it will exceed the net present value of the foreclosed collateral upon disposition, then the Qualifying Loan shall be modified so as to reduce the borrower’s monthly DTI Ratio to no more than 31% at the time of the modification. To achieve this, the lender shall use a combination of interest rate reduction, term extension and principal forbearance, as necessary. The borrower’s monthly DTI Ratio shall be a percentage calculated by dividing the borrower’s monthly income by the borrower’s monthly housing payment (including principal, interest, taxes and insurance). For these purposes, (1) the borrower’s monthly income shall be the amount of the borrower’s (along with any co-borrowers’) documented and verified gross monthly income, and (2) the borrower’s monthly housing payment shall be the amount required to pay monthly principal and interest plus one-twelfth of the then current annual amount required to pay real property taxes and homeowner’s insurance with respect to the collateral. In order to calculate the monthly principal payment, the lender shall capitalize to the outstanding principal balance of the Qualifying Loan the amount of all delinquent interest, delinquent taxes, past due insurance premiums, third party fees and (without duplication) escrow advances (such amount, the “Capitalized Balance”). In order to achieve the goal of reducing the DTI Ratio to 31%, the lender shall take the following steps in the following order of priority with respect to each Qualifying Loan:

  • Qualifying Period If a regular employee is promoted or transferred to a position, then that employee shall be considered a qualifying employee in her new position for a period of ninety (90) calendar days. If a regular employee is promoted or transferred to a position either within or outside the certification and is found to be unsatisfactory, she shall be returned to her previously held position. If a regular employee is promoted to a position, either within or outside the certification, and finds the position to be unsatisfactory, she shall be returned to her previously held position.

  • Company Not Surviving Following Exchange Event If the Exchange Event results in the Company not continuing as a publicly held reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Common Stock will receive in with the Exchange Event, for the number of shares such holder is entitled to pursuant to Section 3.1 above.

  • Proceeds from Shares Sold The Custodian shall receive funds representing cash payments received for Shares issued or sold from time to time by the Funds, and shall promptly credit such funds to the account(s) of the applicable Portfolio(s). The Custodian shall promptly notify each applicable Fund of Custodian's receipt of cash in payment for Shares issued by such Fund by facsimile transmission or in such other manner as the Fund and Custodian may agree in writing. Upon receipt of Proper Instructions, the Custodian shall: (a) deliver all federal funds received by the Custodian in payment for Shares in payment for such investments as may be set forth in such Proper Instructions and at a time agreed upon between the Custodian and the applicable Fund; and (b) make federal funds available to the applicable Fund as of specified times agreed upon from time to time by the applicable Fund and the Custodian, in the amount of checks received in payment for Shares which are deposited to the accounts of each applicable Portfolio.

  • Investment Assets Those assets of the Fund as the Advisor and the Fund shall specify in writing, from time to time, including cash, stocks, bonds and other securities that the Advisor deposits with the Custodian and places under the investment supervision of the Sub-Advisor, together with any assets that are added at a subsequent date or which are received as a result of the sale, exchange or transfer of such Investment Assets.

  • Average Invested Assets For a specified period, the average of the aggregate book value of the Assets invested, directly or indirectly, in equity interests in and loans secured by or related to real estate (including, without limitation, equity interests in REITs, mortgage pools, commercial mortgage-backed securities, mezzanine loans and residential mortgage-backed securities), before deducting depreciation, bad debts or other non-cash reserves, computed by taking the average of such values at the end of each month during such period.

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