B Pieces definition

B Pieces means all of the residual interests and certificates in the Securitized Pools held by FMARC or FMARC II.
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B Pieces in Section 1.1 of the Credit Agreement is amended in its entirety as follows:
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B Pieces means, at any time, the "Over Collaterized" component of the "Retained Interest in Transferred Assets" line item on Borrower's balance sheet, and specifically excludes the "Reserve Fund" and "Interest Only" components of such line item.
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Examples of B Pieces in a sentence

  • For the CMBS B- Pieces, LTV is based on the weighted average LTV of the underlying loan pool.

  • Pursuant to the FMAC Plan, at the option of the Company and subject to certain conditions, the Company may distribute the Stock Option Shares to FMAC or at the request of FMAC and pursuant to its instructions directly to the unsecured creditors of FMAC, in lieu of FMAC's right to receive all or a portion of distributions under the Excess Collections Split (including both recoveries under the Excess Collections Split from the Owned Contracts and the B Pieces) in cash.

  • It is anticipated that the FMARC and FMARC II subsidiaries of the Reorganized Company will continue for a period of time to recognize taxable income with respect to the B Pieces in excess of the cash available for distribution to the Reorganized Company.

  • In the event the Joint Plan is confirmed, FMAC agrees that any obligation hereunder owing UDC by FMAC shall be paid by Debtor from the B Pieces and any other asset of the estate after payment to UDC of the Secured Claim Recovery Amount and the Modified UDC Fee, and prior to any payments to the FMAC estate or creditors thereof.

  • For our CMBS B- Pieces, LTV is based on the weighted average LTV of the underlying loan pool.

  • FMAC received four plan proposals, two involving a sale of the business with a sharing of collections on the Owned Loans and the B Pieces and two involving a recapitalized FMAC with some limited new loan origination.

  • The DIP Facility is a revolving facility and, except for payments made from the proceeds of tax refunds received by FMAC, will be permanently paid down only from distributions on certain residual interests (the "B Pieces") in the various securitized loan pools of FMAC (the "Securitized Pools"' after payment of certain other amounts.

  • Lender shall provide Borrower and Distributors with monthly reports, on or before the 15th day of each month, reflecting the outstanding amount due and owing by Borrower to Lender under the Agreement, the Contribution Agreement, the Credit and Security Agreement II, the Modified UDC Fee, any advance under the UDC Stock Option and any other obligation secured by the B Pieces arising under the Plan.

  • The Westville B Piece, the Long Acre B Piece, the Devonshire House B Piece, the CAA House B Piece and the Shrewsbury B Piece are together the "B Pieces" and each a "B Piece".The obligations of the Issuer under the Notes and to the other Secured Parties will be secured pursuant to the terms of the Issuer Deed of Charge.The Notes will constitute a single series of notes, designated the Windermere XI CMBS plc Commercial Mortgage-Backed Notes, consisting of multiple classes.

  • Any excess distributions to the Debtor from the B Pieces will be used to satisfy in full any remaining indebtedness to UDC under the DIP Facility (including any advance within the Overadvance Cap, as defined below), if any (after application of the Tax Refunds).


More Definitions of B Pieces

B Pieces means the residual interests in the Securitized Pools of FMAC represented by the B-Certificates, all of which are held by FMARC and FMARC II.
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B Pieces means that portion of Commercial Loans retained by Borrower or its Subsidiaries out of Commercial Loans sold under an asset securitization.
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Related to B Pieces

  • Cart means a plastic Container with a hinged lid and wheels that is serviced by an automated or semi-automated Collection vehicle. A Cart has capacity of 20, 35, 64 or 96 gallons (or similar volumes).

  • Tight-fitting facepiece means a respiratory inlet covering that forms a complete seal with the face.

  • Loose-fitting facepiece means a respiratory inlet covering that is designed to form a partial seal with the face.

  • Pushcart means a non-self-propelled vehicle food establishment limited to serving nonpotentially hazardous foods or commissary-wrapped foods maintained at proper temperatures, or limited to the preparation and serving of frankfurters.

  • Roomer means a person occupying a dwelling unit that lacks a major bathroom or kitchen facility, in a structure where one or more major facilities are used in common by occupants of the dwelling unit and other dwelling units. Major facility in the case of a bathroom means toilet, or either a bath or shower, and in the case of a kitchen means refrigerator, stove or sink.

  • Campsite means any place where any bedding, sleeping bag, or other material used for bedding purposes, or any stove or fire is placed, established or maintained for the purpose of maintaining a temporary place to live, whether or not such place incorporates the use of any tent, lean-to, shack, or any other structure, or any vehicle or part thereof.

  • Candy means a preparation of sugar, honey, or other natural or artificial sweeteners in combination with chocolate, fruits, nuts, or other ingredients or flavorings in the form of bars, drops, or pieces. Candy shall not include any preparation containing flour and shall require no refrigeration.

  • Check Meter means the Buyer revenue-quality meter section(s) or meter(s), which Buyer may require at its discretion, and which will include those devices normally supplied by Buyer or Seller under the applicable utility electric service requirements.

  • Hood means a respiratory inlet covering that completely covers the head and neck and may also cover portions of the shoulders and torso.

  • Distribution center means a building or structure used primarily for the storage of goods which are intended for subsequent shipment to retail outlets. Distribution center does not mean a building or structure used primarily to store raw agricultural products, used primarily by a manufacturer to store goods to be used in the manufacturing process, used primarily for the storage of petroleum products, or used for the retail sale of goods.

  • Duct is a single enclosed path to house facilities to provide Telecommunications Services.

  • Opaque means impenetrable to sight.

  • Density means the permitted number of dwelling units per

  • Gasohol means a blended fuel composed of gasoline and fuel grade ethanol.

  • Bouquet or “bouquet of channels” means an assortment of distinct channels offered together as a group or as a bundle and all its grammatical variations and cognate expressions shall be construed accordingly;

  • Camper means a structure designed, used, and maintained primarily to be

  • high voltage means the classification of an electric component or circuit, if its working voltage is > 60 V and ≤ 1500 V DC or > 30 V and ≤ 1000 V AC root mean square (rms).

  • Slamming means the unauthorized enrollment of a customer without the customer’s permission or the unauthorized transfer of a customer to another Electric Supplier.

  • Motorboat means the same as that term is defined in Section 73-18-2.

  • Stack means any point in a source designed to emit solids, liquids, or gases into the air, including a pipe or duct but not including flares.

  • Trench means 1. below-grade soil treatment area consisting of a shallow excavation with a width of 3 feet or less containing distribution media and one lateral; and 2. excavation for placement of piping or installation of electrical wire or conduit.

  • Decorative pole means a streetlight pole specially designed and placed for aesthetic purposes and on which no appurtenances or attachments, other than specially designed informational or directional signage or temporary holiday or special event attachments, have been placed or are permitted to be placed according to nondiscriminatory municipal codes.

  • stacked townhouse means a building, other than a townhouse or apartment building, containing at least 3 dwelling units, each dwelling unit being separated from the other vertically and/or horizontally, and each dwelling unit having an entrance to grade shared with no more than 3 other units;

  • storey means that portion of a building which is situated between the top of any floor and the top of the floor next above it, and if there is no floor above it, that portion between the top of such floor and the ceiling above it.

  • Hot Weather Alert means the notice provided by PJM to PJM Members, Transmission Owners, resource owners and operators, customers, and regulators to prepare personnel and facilities for extreme hot and/or humid weather conditions which may cause capacity requirements and/or unit unavailability to be substantially higher than forecast are expected to persist for an extended period.

  • Scalping means the situation where the Client opens too many positions in CFDs at the same time and closes them for less than five minutes or buying at Bid price and selling at Ask price, so as to gain the Bid/Ask difference.