B Assets definition
Examples of B Assets in a sentence
Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, PARTY A and PARTY B agree to exchange simultaneously the PARTY A Assets for the PARTY B Assets, free and clear of all Liens (except Permitted Liens) (the "Exchange").
No more than 40% of the assets deposited in the trust may be Class B Assets.
Reference to PARTY A Assets shall be deemed to refer to the Assets of PARTY A, and reference to PARTY B Assets shall be deemed to refer to the Assets of PARTY B.
The market value of Class A Assets plus the market value of Class B Assets will at all times be at least equal to 110% of (x) Policy-Related Liabilities minus (y) Policy-Related Assets at such time.
In addition, the applicable Base SFRCA Number for each of the Class A Assets and Class B Assets shall be reset to the then-total market value of Single Family Residential Company Assets owned by Residential or the Surviving Entity in each of the asset classes, as applicable, on each 18-month anniversary of the Effective Date of the Amendment and Waiver Agreement.
Each Lender hereby irrevocably authorizes the Administrative Agent to take such actions as the Administrative Agent deems necessary to release and terminate all Liens granted to or held by the Administrative Agent under the Loan Documents on the Disposition B Assets upon (x) the consummation of Disposition B and (y) the Administrative Agent’s receipt of the Net Cash Proceeds received from Disposition B.
Nothing in this Loan Agreement shall preclude the Lender from repledging the Financed Assets that constitute Tranche B Assets, or with the consent of the SBA and subject to the Multiparty Agreement, Financed Assets that constitute Tranche B Assets, in each case, in accordance with applicable law, but in the case of Participation Interests, subject to the restrictions set forth in the related Participation Agreement.
Each Lender hereby irrevocably authorizes the Administrative Agent to execute and deliver such documents as the Loan Parties may reasonably request, and that are in form and substance acceptable to the Administrative Agent, for the purpose of confirming to the applicable purchaser that such Liens on the Disposition B Assets shall be released upon consummation of Disposition B in accordance with the conditions set forth in the Disposition B Certificate.
Custodian agrees that Purchased Securities shall not be subject to any security interest, lien or right of setoff by Custodian or any third party claiming through Custodian (other than Buyer) and Custodian shall not pledge, encumber, hypothecate, transfer, dispose of, or otherwise grant any third party an interest in, any Purchased Securities.
The Class A Members shall be issued a number of Class A Interests based on the value of ORIG excluding the Class B Assets and the Special Assets (using the same per dollar value for each Class A Interest as the Company uses to issue each Class B Interest), as adjusted pursuant to paragraph 20.2(b) (or adjusted as otherwise provided in this Agreement).