Examples of Covered Assets in a sentence
Subject to the terms and conditions of this Master Agreement, the U.S. Federal Parties shall provide loss protection (or financing, as applicable) only with respect to the Covered Assets determined in accordance with this Section 5.
No Citigroup Ring- Fence Entity shall sell, dispose or otherwise transfer control of any Citigroup Ring-Fence Affiliate in whole or in part (including by the sale of participations), unless (a) the Covered Assets owned by such Citigroup Ring-Fence Affiliate are first transferred to another Affiliate of Citigroup in a transaction permitted by Section 11.15 or (b) such Citigroup Ring-Fence Entity shall have obtained the prior written consent of each of the U.S. Federal Parties.
The provisions of the Security Documents are effective to create in favor of FRBNY a legal, valid and enforceable first priority Lien (subject to no other Liens except Permitted Liens) on all right, title and interest of the Citigroup Ring-Fence Entities in the Covered Assets described therein.
For any Calendar Quarter, a “Citigroup Quarterly Net Loss” shall be equal to the amount (if any) by which (a) all Losses incurred by the Citigroup Ring-Fence Entities on all Covered Assets in such Calendar Quarter exceed (b) the sum of all Recoveries and Gains realized by the Citigroup Ring-Fence Entities on all Covered Assets in such Calendar Quarter.
Refrain from creating, incurring, assuming or suffering to exist any Lien upon any of the Covered Assets pledged pursuant to any Security Documents or assign or otherwise convey or encumber any existing or future right to receive any income or payments thereon, except for Permitted Liens.