Eligible Lessor Assignee definition
Eligible Lessor Assignee means any commercial bank, leasing company, finance company or other financial institution which has or is an affiliate of an entity (and such entity provides a guaranty of such affiliate’s obligations under the Operative Documents) which has a combined capital and surplus of at least $75,000,000.
Eligible Lessor Assignee means any Lessor or any Affiliate or Subsidiary of a Lessor; and any other commercial bank, financial institution or "accredited investor" (as defined in Regulation D of the Securities and Exchange Commission) with combined capital and surplus in excess of $50,000,000.
Eligible Lessor Assignee means, with respect to any assignment by the Lessor pursuant to Section 12.1(b) of the Participation Agreement, any Person that meets all of the following requirements: (i) such Person is (x) a leasing company, bank, bank subsidiary or bank Affiliate, insurance company or other institutional investor with a net worth or, in the case of a bank or lending institution, combined capital and surplus on a consolidated basis at the time of transfer of at least $100,000,000 determined in accordance with GAAP or (y) a Person described in clause (x) that is an Affiliate of a financial institution meeting such net worth or capital and surplus standard, (ii) such assignment to such Person would not result in such Person or the Properties being consolidated onto the balance sheet of the Lessee, and (iii) so long as no Lease Event of Default is continuing, such Person is approved by Lessee, which approval shall not be unreasonably withheld.
Examples of Eligible Lessor Assignee in a sentence
The Lessor will deliver written notice to the Administrative Agent and the Lessee of any such proposed assignment at least ten (10) Business Days prior to the proposed date of such assignment, which notice shall contain the name of the proposed assignee and financial information with respect thereto sufficient to determine whether such transferee is an Eligible Lessor Assignee (any such notice, a "Notice of Proposed Assignment").
More Definitions of Eligible Lessor Assignee
Eligible Lessor Assignee means a commercial bank or other financial institution, or an affiliate of either, which: (i) is a diversified company which has (x) significant assets and significant activities other than its Ownership Interests, and (y) has and is reasonably expected to continue to have, during the period it holds its Ownership Interests, significant equity (in any case in excess of 3%) in relationship to its Indebtedness; (ii) is not a “special-purpose entity” for purposes of EITF Issue No. 90-15, “Impact of Nonsubstantive Lessors, Residual Value Guarantees, and Other Provisions in Leasing Transactions”, EITF Issue No. 96-21, “Implementation Issues in Accounting for Leasing Transactions Involving Special-Purpose Entities”, or EITF Issue No. 97-1, “Implementation Issues in Accounting for Lease Transactions, including Those involving Special-Purposed Entities”, of the Emerging Issues Task Force of the Financial Accounting Standards Board of the Financial Accounting Foundation (the “FASB”), and (iii) agrees in writing not to pledge its Ownership Interests.
Eligible Lessor Assignee means a commercial bank or other financial ------------------------ institution, or an Affiliate of either, which: (i) is a diversified company which has (x) significant assets and significant activities other than its Ownership Interests, and (y) has and is reasonably expected to continue to have, during the period it holds its Ownership Interests, significant equity (substantially in excess of 3%) in relationship to its Debt; (ii) is not a "special-purpose entity" for purposes of (x) EITF Issue No. 90-15, "Impact of Nonsubstantive Lessors, Residual Value Guarantees, and Other Provisions in Leasing Transactions, EITF Issue No. 96-21, "Implementation Issues in Accounting for Leasing Transactions Involving Special-Purpose Entities", or EITF Issue No. 97-1, "Implementation Issues in Accounting for Lease Transactions, including Those involving Special-Purposed Entities", of the Emerging Issues Task Force of the Financial Accounting Standards Board of the Financial Accounting Foundation (the "FASB"), or (y) the Exposure Draft dated October 16, 1995 of Proposed Statement of Financial Accounting Standards, "Consolidated Financial Statements: Policy and Procedures", issued by the FASB and (iii) agrees in writing not to pledge its Ownership Interests.
Eligible Lessor Assignee means, with respect to any assignment by the Lessor pursuant to Section 12.1(b) of the Participation Agreement, any Person that meets all of the following requirements: (i) such Person is (x) a leasing company, bank, bank subsidiary or bank Affiliate, Tandem Health Care of Ohio, Inc. Definitions insurance company or other institutional investor with a net worth or, in the case of a bank or lending institution, combined capital and surplus on a consolidated basis at the time of transfer of at least $15,000,000 determined in accordance with GAAP or (y) a Person described in clause (x) that is an Affiliate of a financial institution meeting such net worth or capital and surplus standard and (ii) such assignment to such Person would not cause such Person or the Property to be consolidated onto the balance sheet of the Lessee or Guarantor.