Flex Asset definition

Flex Asset. A Whole Loan (other than a Hotel-Related Asset) that is classified as a “Flex Asset” in the discretion of Buyer, provided, in all cases, any such Whole Loan shall have (a) a Debt Yield that is at least equal to the Required Debt Yield Percentage and (b) a PPV that is less than or equal to Required PPV Percentage. The decision to purchase (and, if Buyer decides to purchase, the terms and conditions for purchase) any such Whole Loan shall be in the discretion of Buyer and the designation of any such Whole Loan as a Flex Asset shall be in the discretion of Buyer; provided, in no event shall a Hotel-Related Asset be a Flex Asset.”
Sample 1
Flex Asset. A Whole Loan (other than a Hotel-Related Asset) that has a PPV of less than or equal to 50% or, if a Hotel-Related Asset, 45%. The decision to purchase (and, if Buyer decides to purchase, the terms and conditions for purchase) any such Whole Loan shall be in the discretion of Buyer and the designation of any such Whole Loan as a Flex Asset shall be in the discretion of Buyer. Furthermore, in the event an Asset that is initially characterized as a Flex Asset later satisfies the Required PPV Percentage and Required Debt Yield Percentage for a Core Asset, Buyer may, in its sole and absolute discretion, designate any such Asset as a Core Asset, which will be evidenced by the execution and delivery of a new Confirmation with respect to such Asset by Buyer and Seller.
Sample 1
Flex Asset. A Whole Loan (other than a Hotel-Related Asset) that (a) has a Debt Yield of less than 11% but, in any event, at least equal to the Required Debt Yield Percentage, or (b) has a PPV of less than or equal to 56%. The decision to purchase (and, if Buyer decides to purchase, the terms and conditions for purchase) any such Whole Loan shall be in the discretion of Buyer and the designation of any such Whole Loan as a Flex Asset shall be in the discretion of Buyer; provided, in no event shall a Hotel-Related Asset be a Flex Asset.
Sample 1

Examples of Flex Asset in a sentence

  • U.S.-DE 100 % Flex Asset Management Corporation U.S.-DE 100 % Flex Holdings, LLC U.S.-DE 72 % Flex Leasing Corporation U.S.-DE 100 % Flex Leasing I, LLC U.S.-DE 100 % Flex Leasing II, LLC U.S.-DE 100 % Flex Mexico Corp.


More Definitions of Flex Asset

Flex Asset. A Whole Loan or Participation Interest (other than a Hotel-Related Asset) that has a PPV of less than or equal to 50% or, if a Hotel-Related Asset, 45%. The decision to purchase (and, if Buyer decides to purchase, the terms and conditions for purchase) of any such Whole Loan or Participation Interest shall be in the discretion of Buyer and the designation of any such Whole Loan or Participation Interest as a Flex Asset shall be in the discretion of Buyer. Furthermore, in the event an Asset that is initially characterized as a Flex Asset later satisfies the Required PPV Percentage and Required Debt Yield Percentage for a Core Asset, Buyer may, in its sole and absolute discretion, designate any such Asset as a Core Asset, which will be evidenced by the execution and delivery of a new Confirmation with respect to such Asset by Buyer and Seller.”
Sample 1

Related to Flex Asset

  • Excluded Asset means any asset of any Grantor excluded from the security interest hereunder by virtue of Section 2.2 hereof but only to the extent, and for so long as, so excluded thereunder.

  • Transferred Asset means each asset, including any Loan Asset and Substitute Loan Asset (including, if any, the Participation thereof), Conveyed by the Seller to the Purchaser hereunder, including with respect to each such asset, all Related Property; provided that the foregoing will exclude the Retained Interest and the Excluded Amounts.

  • Portfolio Asset means an asset of an investment fund;

  • Purchased Asset means (i) with respect to any Transaction, the Eligible Asset sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller).

  • Underlying Asset means the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.

  • Specified Asset as defined in subsection 4.2.2 hereof.

  • Permitted Receivables Related Assets means any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing.

  • Underlying Assets With respect to a Loan, any property or other assets designated and pledged as collateral to secure repayment of such Loan, including, without limitation, to the extent provided for in the relevant Underlying Instruments, a pledge of the stock, membership or other ownership interests in the related Obligor and all Proceeds from any sale or other disposition of such property or other assets.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • Fleet Vehicle means one of a large group of New Vehicles sold to a Person (e.g., a rental car agency) which purchases in excess of ten (10) Vehicles per purchase contract for commercial use.

  • Fixed Asset means a tangible non-current asset, including buildings and equipment, acquired not for sale but for use for the Project during the Eligible Expenditure Period;

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Qualifying Asset in relation to any Project Financing means:

  • Light vehicle means a motor vehicle commonly referred to as an automobile, van, sport utility

  • Asset Pool means a pool of cash-flow generating assets in which an issuer of a securitized product has a direct or indirect ownership or security interest;

  • Asset means any asset or property.

  • Sale Assets is defined in Section 5.2(a)(ii).