Qualifying Assets Sample Clauses
The 'Qualifying Assets' clause defines which assets meet specific criteria to be included under the terms of an agreement, such as those eligible for certain financial treatments or benefits. Typically, this clause outlines characteristics like asset type, value thresholds, or compliance with regulatory standards, and may specify examples such as real estate, equipment, or intellectual property that qualify. Its core function is to ensure clarity and prevent disputes by clearly identifying which assets are covered, thereby allocating rights and obligations appropriately between the parties.
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.
Qualifying Assets. 84 Quota
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.
Qualifying Assets. The assets referred to in paragraph 2.10 constitute assets within the meaning of Section 32(2) in conjunction with Section 12(2)(1) of the Austrian Reorganisa- tion Tax Act (UmgrStG).
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).
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.
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.
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.