Unit Ineligibility Sample Clauses

Unit Ineligibility. Except to the extent permitted in the case of an extension of the Maturity Date to the Holdover Maturity Date pursuant to Section 2.5, in no event may any Unit be included in Eligible Assets beyond the Maturity Date.
Sample 1
AutoNDA by SimpleDocs
Unit Ineligibility. 46 4.3 A&D Project Term Limits............................................................46 (a) Failure to Commence Construction..........................................46 (b) Failure to Complete Construction..........................................46 (c) Term Limitations with respect to Finished Lots; Take-Down Requirements....47 (d) A&D Project Ineligibility.................................................47 4.4 Transfer of Finished Lots for Unit Construction....................................47 4.5 Additional Limitations on Eligible Collateral......................................48 (a) Limitation on Spec Units by State.........................................48 (b) Limitation on Model Units by State........................................48 (c) Classification and Reclassification of Units; Adjustment of Borrowing Base.........................................................48 (d) Events Affecting Units and A&D Projects; Exclusions from Eligible Collateral..................................................48 4.6 Limitations on Collateral Values...................................................48 (a) A&D Project Limitations...................................................48 (b) Further Limitations on Collateral Values..................................49 (i) Overall Limit on Construction Line Availability Based on Spec Units....................................................50 (ii) Limit on Availability Based on Presold Units and Model Units.....50 (iii) Limit on Availability for Model Units............................50 (iv) Limit on Availability for Land Projects..........................50 (v) Limitation on Availability for all A&D Projects..................50 (vi) Limitation on Availability for Development Projects and Finished Lot Projects........................................50 (vii) State Limitations for A&D Projects...............................50 (viii) State Limitations on Collateral Value............................50 4.7 Collateral Inventory Report, Collateral Certificate, and Borrowing Base Report.....51 (a)
Sample 1
Unit Ineligibility. Units that are sold, that have been included as Eligible Collateral for the maximum term determined in accordance with the provisions of this Section 4.2, or that are otherwise not eligible to be Eligible Collateral pursuant to any provision of this Agreement will no longer be Eligible Collateral upon sale and release in compliance with the provisions of this Agreement, upon expiration of such term, or upon such Units becoming ineligible, as the case may be. However, a Unit that is no longer Eligible Collateral because of expiration of the term during which such Unit was entitled to be Eligible Collateral or because of its becoming ineligible pursuant to any provision of this Agreement will nevertheless remain part of the Collateral until released as permitted by this Agreement.
Sample 1
Unit Ineligibility. In no event may any Unit be included as Eligible Collateral beyond its Unit term as set forth above. Units that are sold, that have been included as Eligible Collateral for the maximum term determined in accordance with the provisions of this Section 3.5, or that are otherwise not eligible to be Eligible Collateral pursuant to any provision of this Agreement will no longer be Eligible Collateral upon sale and release in compliance with the provisions of this Agreement, upon expiration of such term, or upon such Units becoming ineligible, as the case may be. However, a Unit that is no longer Eligible Collateral because of expiration of the term during which such Unit was entitled to be Eligible Collateral or because of its becoming ineligible pursuant to any provision of this Agreement will nevertheless remain part of the Collateral until released as permitted by this Agreement.
Sample 1
Unit Ineligibility. Except to the extent permitted in the case of an extension of the Maturity Date to the Holdover Maturity Date pursuant to Section 2.5, in no event may any Unit be included in Eligible Assets beyond the Maturity Date. Units that are sold, that have been included as Eligible Assets for the maximum term determined in accordance with the provisions of this Section 3.2, or that are otherwise not eligible to be Eligible Assets pursuant to any provision of this Agreement will no longer be Eligible Assets upon sale and release in compliance with the provisions of this Agreement, upon expiration of such term, or upon such Units becoming ineligible, as the case may be. However, a Unit that is no longer Eligible Assets because of expiration of the term during which such Unit was entitled to be Eligible Assets or because of its becoming ineligible pursuant to any provision of this Agreement will nevertheless remain part of the Collateral until released as permitted by this Agreement.
Sample 1

Related to Unit Ineligibility

  • Distribution Eligibility Shares issued in a Fund after receipt of a completed purchase order shall be eligible to receive distributions of the Fund at the time specified in the prospectus pursuant to which the Shares are offered.

  • Eligibility It will notify the Issuer and the Servicer promptly if it no longer meets the eligibility requirements in Section 5.1.

  • Eligibility; Disqualification There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b).

  • S-3 Eligibility (i) At the time of filing the Registration Statement and (ii) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), the Company met the then applicable requirements for use of Form S-3 under the Securities Act, including compliance with General Instruction I.B.1 of Form S-3.

  • Eligibility for Benefits The Executive shall be entitled to receive the benefits described in this Section 2 (the “Severance Benefits”) if during the Term of this Agreement (i) the Company terminates the Executive’s employment with the Company without Cause, or (ii) the Executive resigns from the employment of the Company and its Affiliates and the Executive has Good Reason to resign.

  • Ineligibility for Form S-3 In the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on another appropriate form reasonably acceptable to the Required Holders and (ii) undertake to register the Registrable Securities on Form S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the SEC.

  • Nasdaq Eligibility As of the Effective Date, the Public Securities have been approved for listing on the Nasdaq Capital Markets (“NASDAQ”), subject to official notice of issuance and evidence of satisfactory distribution. There is and has been no failure on the part of the Company or any of the Company's directors or officers, in their capacities as such, to comply with (as and when applicable), and immediately following the effectiveness of the Registration Statement the Company will be in compliance with, the NASDAQ Marketplace Rules, as amended.

  • Form SB-2 Eligibility The Company currently meets the “registrant eligibility” and transaction requirements set forth in the general instructions to Form SB-2 applicable to “resale” registrations on Form SB-2 and the Company shall file all reports required to be filed by the Company with the Commission in a timely manner.

  • Bonus Eligibility The Executive shall be eligible to receive an annual bonus payment in addition to Base Salary and other compensation for each year of the Executive’s employment (the “Bonus”) as determined by the Board from time to time.

  • ELIGIBILITY CONDITIONS The eligibility conditions specified in Adoption Agreement Section 2.01 are effective for Plan Years beginning after _______________________.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!