Flex Purchased Asset definition

Flex Purchased Asset. Each Legacy Purchased Asset designated as a Flex Purchased Asset on Schedule 3 of the Fee Letter.
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Flex Purchased Asset. As of any date of determination, any Multifamily Asset with a Debt Yield that is less than 8.5% and any Commercial/Industrial Asset with a Debt Yield that is less than 10.0% but, in each case, (A) such Multifamily Asset or Commercial/Industrial Asset, as applicable, has both (i) a Debt Yield equal to or greater than 8.0% and (ii) a PPV equal to or less than 55% and (B) such Multifamily Asset or Commercial/Industrial Asset, as applicable, does not cause or contribute to the Sub-Limit applicable to Flex Purchased Assets being exceeded.
Sample 1
Flex Purchased Asset. As of any date of determination, any Multifamily Asset with a Debt Yield that is less than 8.5% and any Commercial/Industrial Asset with a Debt Yield that is less than 10.0% but, in each case, such Multifamily Asset or Commercial/Industrial Asset, as applicable, has both (i) a Debt Yield equal to or greater than 8.0% and (ii) a PPV equal to or less than 55%.
Sample 1

Examples of Flex Purchased Asset in a sentence

  • Each Legacy Purchased Asset designated as a Flex Purchased Asset on Schedule 3 of the Fee Letter.


More Definitions of Flex Purchased Asset

Flex Purchased Asset. Defined in the Fee Letter, which definition is incorporated herein by reference.
Sample 1
Flex Purchased Asset. “Funding Expiration Date”, “LIBOR”, “Maximum Amount” and “Release Percentage”, as set forth in Article 2 of the Repurchase Agreement, are each hereby amended and restated in their entirety to read as follows:
Sample 1

Related to Flex Purchased Asset

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Purchased Asset Documents means, with respect to a Purchased Asset, the documents comprising the Purchased Asset File for such Purchased Asset.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Sold Assets has the meaning set forth in Section 2.01(b).

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to (a) the aggregate principal balance of all Portfolio Investments acquired by the Company prior to such date minus (b) the aggregate principal balance of all Portfolio Investments repurchased by the Parent or an Affiliate thereof prior to such date.