Excepted Collateral definition
Excepted Collateral shall have the meaning set forth in Section 8.1(i).
Excepted Collateral means, as determined by the Agent in its reasonable discretion, Collateral (i) for which a Lien cannot be timely "perfected" under applicable law other than by filing a financing statement in the District of Columbia or (ii) for which the costs of perfecting a Lien under applicable law are disproportionately high compared to the value of such Collateral for purposes of this Agreement, or (iii) otherwise specifically designated as Excepted Collateral by the Agent for whatever reason.
Excepted Collateral shall have the meaning set forth in Section 8.1(j). * This redacted material has been omitted pursuant to a request for confidential treatment, and the material has been filed separately with the Commission.
More Definitions of Excepted Collateral
Excepted Collateral shall have the meaning set forth in Section 8.1(i). "EXISTING DEBT" shall mean the existing Debt (excluding guarantees) of the Borrowers or any of their Restricted Subsidiaries to certain Persons described on Schedule 1 to this Agreement. "FACILITY TERMINATION DATE" shall mean the date upon which the Borrowers have repaid all principal, interest, fees and other expenses related to all Revolving Loans and all, if any, Term Loans, and all other Obligations have been satisfied in full. "FAIR MARKET VALUE" shall mean the fair market value of Equipment as determined by an appraisal made by an appraiser arranged by the Appraisal Agent under the terms of this Agreement. "FEDERAL FUNDS RATE" shall mean the daily rate of interest announced from time to time by the Board of Governors of the Federal Reserve System in publication H. 15 as the "Federal Funds Rate," or if such publication is unavailable, such rate as is available to the Administrative Agent on such day. "FISCAL QUARTER" shall mean a fiscal quarter of the Borrowers, which shall be any quarterly period ending on March 31, June 30, September 30 or December 31 of any year.
Excepted Collateral means (i) those assets and properties that the Administrative Agent shall have determined in its reasonable discretion that the cost of obtaining a security interest is excessive in relation to the value of the security to be afforded thereby, (ii) those assets and properties that the grant of a security interest therein is prohibited by applicable law or anti-assignment provisions that are not ineffective as a result of the application of Article 9 of the relevant UCC, (iii) vehicles and other equipment subject to a certificate of title statute, (iv) rolling stock, (v) any Building or Mobile Home located within an area having special flood hazards, (vi) Equity Interests in Foreign Subsidiaries, (vii) Equity Interests in any Unrestricted Subsidiary, joint venture or Minority Ownership Entity to the extent that such Equity Interests have been pledged as permitted under Section 8.01(r) to secure Permitted Project Debt, (viii) Equity Interests in any Unrestricted Subsidiary, joint venture or Minority Ownership Entity whose Organization Documents prohibit pledging Equity Interests in such Unrestricted Subsidiary, joint venture or Minority Ownership Entity, as applicable, (ix) a portion of the Equity Interests in each JV Holdco equal to the remainder of (A) 100% of the Equity Interests in such JV Holdco less (B) the MLP’s direct or indirect ownership interest in such JV Holdco, (x) a portion of the Equity Interests in each Secured Joint Venture equal to the remainder of (A) 100% of the Equity Interests in such Secured Joint Venture less (B) MLP’s Adjusted Proportionate Ownership Interest in such Secured Joint Venture, (xi) undivided interests in the real and personal Property owned by each Secured Joint Venture in an amount equal to the remainder of (A) 100% of the Equity Interests in such Secured Joint Venture less (B) MLP’s Adjusted Proportionate Ownership Interest in such Secured Joint Venture, and (xii) those assets and properties owned by an OpCo Entity that the Controlling Agent shall have determined in its reasonable discretion that the cost of obtaining a security interest is excessive in relation to the value of the security to be afforded thereby.
Excepted Collateral. The Property, Plant and Equipment.
Excepted Collateral means (a) Collateral listed on Schedule 1.01(f) hereto; (b) Engines and Equipment which the Security Agent determines to include in the Asset Base as part of the $*** basket for unperfected Collateral (provided in the definition of “Asset Base”) or which is specifically approved in writing by the Majority Banks notwithstanding that the Security Agent will not receive a perfected first priority security interest therein; and (c) Collateral other than Engines and Equipment as to which perfection is effected by any means other than by filing a UCC financing statement.