Approved Purchase Agreement definition

Approved Purchase Agreement means each purchase and sale agreement for Medallion Loans between the Borrower, as purchaser, and an Approved Seller, together with all instruments, documents and agreements executed in connection therewith, acceptable to the Agent in writing in its sole and absolute discretion, as such Approved Purchase Agreement may from time to time be amended, supplemented, restated or otherwise modified in accordance with the terms hereof.

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Approved Purchase Agreement. Approved Purchase Agreement means an agreement for the purchase of Software products from the Company by an Alliance Partner that is approved by each of the Company and Ariba in writing in advance in its sole discretion. Ariba’s approval must include the approval of (i) an officer of Ariba who also serves as a director of the Company or (ii) the Chief Financial Officer of Ariba. Attributable Customers: Potential customers of the Company (i) listed on a schedule to be provided by SBEC and approved by the Company, which consent shall not be unreasonably withheld or (ii) mutually agreed upon by the Company and SBEC as follows: Prior to commencing substantial sales efforts with respect to any potential Attributable Customers (a “Target”), SBEC shall notify the Company in writing identifying such Target, and provide the Company with any such documentation relating to such Target as may be reasonably requested by the Company. The Company shall have five (5) business days from the receipt of such documentation to notify SBEC in writing that the Company has either accepted or rejected such Target as an Attributable Customer (and, if the Company rejects a proposed Target, the Company shall explain in writing, the reasonable basis therefor). For each Target accepted as an Attributable Customer, the applicable Alliance Partner shall have 120 days from the date of the Company’s acceptance notice to fully execute and deliver a license agreement with such Target that results in Qualifying Revenue. To the extent such Alliance Partner is unable to fully execute and deliver a license agreement with such Target within such 120 day period, but is able to do so within a reasonable period of time thereafter, the Company shall determine, in good faith, in consultation with SBEC, whether any portion of the fees from such entity should be treated as Qualifying Revenue.

Approved Purchase Agreement means a legally binding purchase agreement with requirement for earn▇▇▇ ▇▇▇ey deposit by purchaser covering a House and Lot entered into by Borrower with a non-related bona fide purchaser, for which Lender has received (a) a copy of such executed contract satisfactory in form and content to Lender, with no conditions to purchase except as are approved by Lender, and specifically without a condition or contingency for sale of purchaser's existing residence, and (b) satisfactory evidence that ouch prospective purchaser is expected to qualify for any financing required to consummate such purchase agreement.

Examples of Approved Purchase Agreement in a sentence

The Borrower will not account for or treat (whether in financial statements or otherwise) the transactions contemplated by any Approved Purchase Agreement in any manner other than the sale of Medallion Loans and other Collateral by the applicable Approved Seller to the Borrower.
The Borrower will not account for or treat (whether in financial statements or otherwise) the transactions contemplated by any Approved Purchase Agreement in any manner other than the sale or capital contributions of Medallion Loans and other Collateral by the applicable Approved Seller to the Borrower.
The Advances may only be used by the Borrower to purchase additional Medallion Loans from a Seller pursuant to, and in accordance with the terms of, the Purchase Agreement or any other Approved Purchase Agreement; provided, however, that Available Funds distributed to the Borrower pursuant to Section 2.05 may be used by the Borrower in any manner as the Borrower may direct in accordance with the terms of the Loan Documents.
The Borrower will not amend, modify, waive or terminate any terms or conditions of the Loan Documents or, in any material respect, the Standard Form Medallion Loan Documentation without the written consent of the Agent (which consent shall not be unreasonably withheld in the case of an amendment curing an ambiguity or correcting any inconsistent provisions of the Purchase Agreement or any Approved Purchase Agreement), and shall perform its obligations thereunder.
The term "Model House" shall mean a House held by Borrower for exhibiting a representative House to the public and not at that time being held or offered for sale, which shall not be subject to an Approved Purchase Agreement.
The term "Speculative House" shall mean a House which is not subject to an Approved Purchase Agreement, and is not a Model House.
The term "Build to Suit House" shall mean a House which is subject to an Approved Purchase Agreement.
The Lender shall have received fully executed copies of the Approved Purchase Agreement and the Approved Servicing Agreement.
Any Consumer Loan originated or held by the Parent or any Affiliate thereof is not sold to the Borrower in compliance with the terms of the Approved Purchase Agreement.
The Approved Purchase Agreement, duly executed by the Borrower and the purchaser of such Acceptable Pre-Sold Home.

More Definitions of Approved Purchase Agreement

Approved Purchase Agreement means the agreement by which the Borrower purchases a Consumer Loan from its Parent, in form and substance acceptable to the Lender in its sole discretion.