ASFI definition
Examples of ASFI in a sentence
Any travel and entertainment expense in excess of $1,500 incurred by the Initial Officers shall require the prior written consent of an ASFI Manager.
The PLF Parties recognize that the reputation of ASFI and its Affiliates is extremely valuable.
The cost of the ALFA Opinion and the ASFI Opinion shall be borne by, and shall be included in the budget of, the Company.
All fees of the Experts shall be paid solely by ASFI; provided, however, if ASFI exercises the Option, then one-half of the fees of the Experts will be deducted from the Exercise Price.
In the event the Company is subject to administrative or judicial proceedings for the assessment and collection of deficiencies of federal taxes or for the refund of overpayments of federal taxes arising out of a Member’s distributive share of income, losses, gain, credits, or deductions, ASFI shall act in the capacity of a tax matters partner (“TMP”) and shall have all the powers and duties assigned to a TMP under Code Sections 6221-6233 and any Regulations thereunder.
In consideration of the receipt of its respective Units on Schedule 3.1, ASFI shall make an initial capital contribution to the Company in proportion to its eighty percent (80%) membership interest in the amount of $800, and PLF shall make an initial capital contribution to the Company in proportion to its twenty percent (20%) membership interest in the amount of $200.
Accordingly, the PLF Parties shall not charge or incur expenses on behalf of the Company for any sensitive or socially objectionable entertainment expense and ASFI may adopt on behalf of the Company further policies which clarify this issue.
All such policies shall name ASFI as an additional insured and contain a waiver of subrogation in favor of ASFI.
PLF makes no warranty or representation that it will be able to obtain for sale all or any portion of the PLF Claims Portfolio however, PLF will use its best efforts to facilitate the sale of the PLF Claims Portfolio to ASFI.
The date of notice of the exercise of the Option may be hereinafter referred to as, the “Exercise Date.” The Option shall expire without notice (i) if not exercised within the Option Period; (ii) if Closing, as defined below, does not occur within sixty (60) days after the Exercise Date by reason of the failure of the PLF Members to comply with the provisions hereof; or (iii) upon termination of this Agreement, unless notice of exercise of the Option by ASFI is given at least sixty (60) days prior thereto.