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 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 in Section 1.1 of the Credit Agreement is amended in its entirety as follows:
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Examples of B Pieces in a sentence

  • 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.

  • 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.

  • 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.

  • This is in addition to UDC's right to receive its 17-1/2% share of the B Pieces and the Owned Loans.

  • The distributions to the Debtor from the B Pieces (to which the Debtor is entitled directly or by dividend or other transfer from FMARC and FMARC II) will be utilized to first retire the Secured Claim Recovery Amount, to the extent that the Secured Claim Recovery Amount remains outstanding.

  • In the event that UDC exercises the Stock Option, and delivers the Stock Option Shares to the Debtor, UDC shall be entitled to receive and retain the Debtor's 82-1/2% share of cash distributions on the B Pieces and the Owned Loans under the Excess Collections Split (the "Debtor's Split") from and after the Exercise Date until UDC has received or retained cash distributions thereon equal to the Stock Option Value.

  • After issuance and delivery of the Stock Option Shares, the Company will be entitled to receive FMAC's share of cash distributions under the Excess Collections Split (including both recoveries under the Excess Collections Split from the Owned Contracts and the B Pieces) from and after the Exercise Date until the Company has received such distributions equal to the Stock Option Value.

  • After the Effective Date, Cygnet will service the FMAC contract portfolios relating to the Owned Contracts and the B Pieces.


More Definitions of B Pieces

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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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).

  • 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

  • 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.

  • 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.