Inactive Assets definition

Inactive Assets means Construction Assets (other than Real Estate Under --------------- Construction), loans receivable (including, without limitation, purchase money and other mortgage loans), and other miscellaneous Property not described in any of clauses (i) through (iv) of Section 10.11(d) hereof. ---------------- "Indebtedness", as applied to any Person, means, at any time, without ------------ duplication, (a) all indebtedness, obligations or other liabilities of such Person (whether consolidated or representing the proportionate interest in any other Person) (i) for borrowed money (including construction loans) or evidenced by debt securities, debentures, acceptances, notes or other similar instruments, and any accrued interest, fees and charges relating thereto, (ii) under profit payment agreements or in respect of obligations to redeem, repurchase or exchange any Securities issued by such Person or to pay dividends in respect of any stock, (iii) with respect to letters of credit issued for such Person's account, (iv) to pay the deferred purchase price of property or services, except accounts payable and accrued expenses arising in the ordinary course of business, (v) in respect of Capital Leases, (vi) which are Contingent Obligations, (vii) under warranties and indemnities or (viii) for the payment of taxes, levies, or other obligations which are then past due and payable to any Governmental Authority; (b) all indebtedness, obligations or other liabilities of such Person or others secured by a Lien on any property of such Person, whether or not such indebtedness, obligations or liabilities are assumed by such Person, all as of such time; (c) all indebtedness, obligations or other liabilities of such Person in respect of interest rate contracts and foreign exchange contracts, net of liabilities owed to such Person by the counterparties thereon; (d) all preferred stock and other Securities subject (upon the occurrence of any contingency or otherwise) to mandatory redemption by such Person; (e) all indebtedness, obligations or other liabilities of such person in respect of forward equity sales and similar purchase obligations, and (f) all contingent Contractual Obligations with respect to any of the foregoing.
Sample 1
Inactive Assets means Construction Assets (other than Real Estate Under Construction), loans receivable (including, without limitation, purchase money and other mortgage loans), and other miscellaneous Property not described in any of clauses (A) through (D) of Section 10.11(iv) hereof.
Sample 1
Inactive Assets without duplication, Construction Assets (other than Real Estate Under Construction), loans receivable (including, without limitation, purchase money and other mortgage loans), the amount of Capital Expenditures made during the applicable period, and other miscellaneous Property not described in any of the clauses (1) through (4) of Section 7.7(f), and the headquarters buildings located at 100 Xxxxx Xxxxxx Xxxxx, Chicago, Illinois, and 10000 Xxxxxx Xxxxxxxx Xxxxxxxx, Xxxxxxxx, Xxxxxxxx, provided that the value of such headquarters buildings for the purpose of calculating Inactive Assets shall be as set forth in the most recent appraisals of said buildings, respectively, received from time to time by Holdings which appraisals are prepared by an MAI appraiser from a nationally recognized appraisal firm in accordance with the requirements of FIRREA. Holdings shall promptly deliver to Administrative Agent a copy of each appraisal of said buildings received by Holdings from time to time. To the extent there is no appraisal of either such headquarters building, such building shall be valued at book value.
Sample 1

Examples of Inactive Assets in a sentence

  • Inactive Assets We own approximately 367 miles of inactive trunk lines.


More Definitions of Inactive Assets

Inactive Assets. Except as identified in a Schedule, to the Transferor’s knowledge the Assets do not include any “long term inactive well” or “inactive multiwell facility” as described in the Regulations issued under the Oil And Gas Conservation Act (Alberta).
Sample 1
Inactive Assets means Construction Assets (other than Real Estate Under Construction), loans receivable (including, without limitation, purchase money and other mortgage loans), other miscellaneous Property not described in any of clauses (i) through (iv) of SECTION 10.11(d) hereof, and the headquarters building located at 000 Xxxxx Xxxxxx Xxxxx, Chicago, Illinois, provided that the value of such headquarters building for the purpose of calculating Inactive Assets shall be as set forth in the most recent appraisal of said building received from time to time by Borrower which appraisal is prepared by an MAI appraiser from a nationally recognized appraisal firm in accordance with the requirements of FIRREA. Borrower shall promptly deliver to Administrative Agent a copy of each appraisal of said building received by Borrower from time to time.
Sample 1

Related to Inactive Assets

  • Inactive business operations means the mere continued holding or renewal of rights to property previously operated for the purpose of generating revenues but not presently deployed for such purpose.

  • Productive Assets means assets (including assets of a referent Person owned directly or indirectly through ownership of Capital Stock) of a kind used or useful in the Cable Related Business.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • Inactive or "inactivation" means action by the Division to place a license on inactive status in accordance with Sections 58-1-305 and R156-1-305.

  • Inactive portion means that portion of a facility which is not operated after November 19, 1980. See also "active portion" and "closed portion".

  • Active business operations means all business operations that are not inactive business operations.

  • Excluded Personal Property means the following:

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • Active Account means an individual investment account in the Plans with a balance greater than $0.00.

  • Excluded Assets has the meaning set forth in Section 2.02.

  • Excluded Real Property means (a) any fee-owned real property with a purchase price (in the case of real property acquired after the Effective Date) or Fair Market Value (in the case of real property owned as of the Effective Date, with Fair Market Value determined as of the Effective Date) of less than $3,500,000 individually, (b) any real property that is subject to a Lien permitted by Sections 6.02(iv), (xix), (xxii), (xxiii), (xxviii) or (xxxi), (c) any real property with respect to which, in the reasonable judgment of the Term Administrative Agent (confirmed by notice to the Borrower) the cost (including as a result of adverse tax consequences) of providing a Mortgage shall be excessive in view of the benefits to be obtained by the Lenders, (d) any real property to the extent providing a mortgage on such real property would (i) be prohibited or limited by any applicable law, rule or regulation (but only so long as such prohibition or limitation is in effect), (ii) violate a contractual obligation to the owners of such real property (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to such real property (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code) but only to the extent such contractual obligation was not incurred in anticipation of this provision or (iii) give any other party (other than the Borrower or a wholly-owned Restricted Subsidiary of the Borrower) to any contract, agreement, instrument or indenture governing such real property the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law) and (e) any Leasehold.

  • Retained Assets has the meaning set forth in Section 2.2.

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.

  • Designated Assets means any property or assets (including Capital Stock of any Subsidiary) of Holdings, the Restricted Parent, the Issuer and their respective Restricted Subsidiaries constituting a business, a line or unit of a business or used in operating a business substantially as an entirety.

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Inactive Subsidiaries means those Subsidiaries of the Borrower listed on Schedule 1.01.

  • Admitted assets means the amount thereof as of the last day of the most recently concluded annual statement year, computed in accordance with rule 191—5.6(505,515,520).

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Inactive member means a member of the pension program or the individual account pro-

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Excluded Business means a Business excluded from application for an Inter- Community Business Licence and includes those Businesses referred to in Schedule A attached hereto and forming part of this bylaw.

  • Subject Assets is defined in Section 2.2(c).