Covered Assets definition

Covered Assets has the meaning set forth in Section 9.1(b).

Covered Assets means the PT Covered Assets and/or TEF Covered Assets (as the case may be).

Covered Assets means all Marketed Rigs and other drilling related fixed assets.

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.

More Definitions of Covered Assets

Covered Assets means, on any date of determination, substantially all of both (a) the Company’s and its Restricted Subsidiaries’ commercial operations and (b) the Company’s and its Restricted Subsidiaries production operations, located in one of the five countries or regional groupings for which the Company recognized the highest gross revenues during its most recently completed four fiscal quarters for which financial statements are filed with the SEC or otherwise available (or 100% of the equity interests of a Restricted Subsidiary that own such operations).

Covered Assets means Pharmasset’s assets associated with Pharmasset’s uracil nucleotide analog polymerase inhibitor referred to as PSI-7977.

Covered Assets means any asset that would constitute either a Designated Asset or Licensed IP pursuant to the terms of the Agreement if such asset were owned or held by any of the Parent Entities as of the Closing Date.

Covered Assets shall include (i) any Replacement Covered Assets permitted hereunder, (ii) Covered Assets as they may be amended or otherwise modified pursuant to any Permitted Amendment and (iii) any extensions of credit made pursuant to a Citigroup Ring-Fence Entity Wholly Unfunded Commitment that otherwise satisfy the Covered Asset Criteria, but solely to the extent any such extension of credit is made prior to the FRBNY Funding Date. Schedule A shall also identify, for each Covered Asset, any collateral, guarantor or other credit support following the completion of the post-signing adjustments to such schedule contemplated by Section 5.

Covered Assets means the Company’s assets associated with the Key Product.

Covered Assets collectively, those assets owned by Citigroup or any of its Affiliates that are U.S. Persons that (a) satisfy the Covered Asset Criteria, (b) are mutually agreed to by each of the

Covered Assets means, as of any date of determination, (a) the Loan Assets and the Credit Tenant Lease Assets directly owned by a Pledged Subsidiary and (b) interests in a Pledged Subsidiary owned by the Borrower, in each case listed on the Collateral and Covered Asset List.