Ineligible Lease definition

Ineligible Lease means any Lease that fails at any time to meet all of the criteria set forth in the definition of “Eligible Lease” set forth herein.
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Ineligible Lease shall have the meaning set forth in Section 4.3 of this Agreement.
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Ineligible Lease shall have the meaning specified in subsection 2.4(d).
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Examples of Ineligible Lease in a sentence

  • With respect to each retransfer of an Ineligible Lease required to be made pursuant to this Section 2.6(d), the Transferor shall repurchase and the Trustee shall convey, without recourse, representation or warranty, all of the Trustee's right, title and interest in each such Ineligible Lease.

  • In consideration of such retransfer the Transferor shall, on the date of retransfer of such Ineligible Lease, either (i) make a deposit in the Collection Account (for allocation pursuant to Article IV) in immediately available funds in an amount equal to the Warranty Purchase Price or (ii) transfer to the Trust a Substitute Lease.

  • The Trustee shall execute such documents and instruments of transfer as may be prepared by the Transferor and take such other actions as shall reasonably be requested by the Transferor to effect the transfer of such Ineligible Lease pursuant to this subsection.

  • The obligation of the Transferor to accept retransfer of any Ineligible Lease shall constitute the sole remedy respecting any breach of the representations and warranties set forth in Section 2.4(b) and subsection 2.6(b)(v)(w) with respect to such Lease available to Noteholders and the Holder of the Transferor Interest, or the Trustee on their behalf.

  • The Transferor shall accept a retransfer of each such Ineligible Lease and there shall be deducted from the Aggregate Pool Balance the Discounted Lease Balance of each such Ineligible Lease.

  • On and after the date such Lease becomes an Ineligible Lease, such Lease shall not be included in the Aggregate Pool Balance.

  • Upon receipt of such request, and provided that (i) the then outstanding balance of the Loan does not exceed the Borrowing Availability, and (ii) no Defaults shall have occurred not cured within the applicable cure period if any, or waived by Lender, Lender shall agree to release its security interest in such Ineligible Lease Receivable by notifying Custodian of its approval of the Borrower's request.

  • AFG Credit shall execute such documents and instruments of transfer and purchase or repurchase, as the case may be, as may be prepared by AFG and take such other actions as shall reasonably be requested by AFG to effect the purchase or repurchase, as the case may be, of such Ineligible Lease pursuant to this subsection.

  • AFG shall be obligated to repurchase or purchase, as the case may be, each such Ineligible Lease.

  • With respect to each repurchase or purchase of an Ineligible Lease, as the case may be, required to be made pursuant to this Section 4.3, AFG shall repurchase or purchase, as the case may be, and AFG Credit shall convey, without recourse, representation or warranty, all of its right, title and interest in each Ineligible Lease.

Related to Ineligible Lease

  • Eligible Lease means, as of any date of determination, a Lease for a Property that satisfies all of the following:

  • Ineligible Loan Each Loan other than an Eligible Loan.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Ineligible Receivable shall have the meaning specified in subsection 2.04(d)(iii).

  • Eligible land means undeveloped land which is zoned for commercial use and which is not subject to a building moratorium or other restriction on construction.

  • Eligible Ground Lease means a ground lease containing terms and conditions customarily required by mortgagees making a loan secured by the interest of the holder of the leasehold estate demised pursuant to a ground lease, and shall include the following: (a) a remaining term (exclusive of any unexercised extension options) of 30 years or more from the date the applicable Property first becomes an Eligible Property; (b) the right of the lessee to mortgage and encumber its interest in the leased property without the consent of the lessor; (c) the obligation of the lessor to give the holder of any mortgage Lien on such leased property written notice of any defaults on the part of the lessee and agreement of such lessor that such lease will not be terminated until such holder has had a reasonable opportunity to cure or complete foreclosures, and fails to do so; (d) reasonable transferability of the lessee’s interest under such lease, including ability to sublease; and (e) clearly determinable rental payment terms which in no event contain profit participation rights.

  • Ineligible Account means an Account that at the time of determination is not an Eligible Account.

  • Erroneous Payment Deficiency Assignment has the meaning assigned to it in Section 14.14(d).

  • Ineligible means that the individual obtained the checks and clearances as described in sections 5n and 5q and is not considered appropriate to obtain a license, to be a member of the household of a group child care home or family child care home, or to be a child care staff member due to violation of section 5n, 5q, or 5r.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Sale Contract means a contract providing for the sale of one or more projects to one or more contracting parties and includes a contract providing for payment of the purchase price in one or more installments. If the sale contract permits title to the project to pass to the other contracting party or parties prior to payment in full of the entire purchase price, it shall also provide for the other contracting party or parties to deliver to the municipality or to the trustee under the indenture pursuant to which the bonds were issued one or more notes, debentures, bonds or other secured or unsecured debt obligations of such contractingparty or parties providing for timely payments, including without limitation, interest thereon for the balance of the purchase price at or prior to the passage of such title.

  • Eligible Lender an entity that is a “Bank” (as defined in the 0000 Xxx) and is not otherwise prohibited by Section 17 of the 1940 Act from lending to the Borrower.

  • Permitted Mortgage means (a) any purchase money mortgage on such Principal Property prior to, simultaneously with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such Principal Property or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement; (b) Mortgages on a Principal Property existing at the time of acquisition, including acquisition through merger or consolidation; (c) Mortgages existing on the date of the initial issuance of the Notes, Mortgages on assets of a corporation or other business entity existing on the date it becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary or at the time the corporation or other business entity sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary or Mortgages on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary if the Mortgage would have been permitted under the provisions of this paragraph if such Mortgage was created while the Subsidiary was a Restricted Subsidiary; (d) Mortgages in favor of the Company or a Restricted Subsidiary; (e) Mortgages for taxes, assessments or governmental charges or levies that are not delinquent or that are being contested in good faith; (f) carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanic’s, landlords’ and other similar Mortgages arising in ordinary course of business that are not delinquent or remain payable without penalty or that are being contested in good faith; (g) Mortgages (other than any Mortgage imposed by the Employee Retirement Income Security Act of 1974) consisting of pledges or deposits required in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation; (h) easements, rights-of-way, restrictions, encroachments, imperfections and other similar encumbrances affecting real property that, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the Principal Property subject thereto or materially interfere with the ordinary conduct of the Company and its Subsidiaries’ business, taken as a whole; (i) Mortgages arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, including any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of any real property; (j) Mortgages arising from filing Uniform Commercial Code financing statements relating solely to leases; and (k) Mortgages to secure Indebtedness incurred to extend, renew, refinance or replace Indebtedness secured by any Mortgages referred to above, provided that the principal amount of the extended, renewed, refinanced or replaced Indebtedness does not exceed the principal amount of Indebtedness so extended, renewed, refinanced or replaced, plus transaction costs and fees, and that any such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage (and, in the case of real property, improvements).

  • Finance Lease means any lease or hire purchase contract which would, in accordance with the Accounting Principles, be treated as a finance or capital lease.

  • Ineligible Costs means the costs described under Part E.2 of Schedule “E” of this Agreement.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement.

  • Eligible Contract means a currently effective written contract between Bank and a Subcustodian satisfying the requirements of paragraph (c)(2) of Rule 17f-5 (including any amendments thereto or successor provisions).

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Ineligible Security means any security which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Banking Act of 1933 (12 U.S.C. Section 24, Seventh), as amended.

  • Loan Contract means the evidence of indebtedness and all instruments used in the

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.