KYC Transfer definition

KYC Transfer means a transfer of equity interest(s) in Borrower which results in a change of Control of Borrower (or any controlling entity of Borrower) or the transferee owning an aggregate direct or indirect equity interest in Borrower (or any controlling entity of Borrower) of (a) prior to a Securitization of the entire Loan, 10% or more or (b) after a Securitization of the entire Loan, 20% or more, and in each case, such transferee did not own an aggregate 10% or 20%, as applicable, direct or indirect equity interest in Borrower or did not control Borrower (or any controlling entity of Borrower) prior to such transfer. The transferee under a KYC Transfer is a “KYC Transferee.”
Sample 1Sample 2Sample 3
KYC Transfer means a transfer of equity interest(s) in Borrower or Mortgage Borrower which results in a change of Control of Borrower or Mortgage Borrower (or any controlling entity of Borrower or Mortgage Borrower) or the transferee owning an aggregate direct or indirect equity interest in Borrower or Mortgage Borrower (or any controlling entity of Borrower or Mortgage Borrower) of (a) prior to a Securitization of the entire Loan, 10% or more or (b) after a Securitization of the entire Loan, 20% or more, and in each case, such transferee did not own an aggregate 10% or 20%, as applicable, direct or indirect equity interest in Borrower or Mortgage Borrower or did not control Borrower or Mortgage Borrower (or any controlling entity of Borrower or Mortgage Borrower) prior to such transfer. The transferee under a KYC Transfer is a “KYC Transferee.”
Sample 1
KYC Transfer means a transfer of equity interest(s) in Borrower, Mezzanine A Borrower or Mortgage Borrower which results in a change of Control of Borrower, Mezzanine A Borrower or Mortgage Borrower (or any controlling entity of Borrower, Mezzanine A Borrower or Mortgage Borrower) or the transferee owning an aggregate direct or indirect equity interest in Borrower, Mezzanine A Borrower or Mortgage Borrower (or any controlling entity of Borrower, Mezzanine A Borrower or Mortgage Borrower) of (a) prior to a Securitization of the entire Loan, 10% or more or (b) after a Securitization of the entire Loan, 20% or more, and in each case, such transferee did not own an aggregate 10% or 20%, as applicable, direct or indirect equity interest in Borrower, Mezzanine A Borrower or Mortgage Borrower or did not control Borrower, Mezzanine A Borrower or Mortgage Borrower (or any controlling entity of Borrower, Mezzanine A Borrower or Mortgage Borrower) prior to such transfer. The transferee under a KYC Transfer is a “KYC Transferee.”
Sample 1

More Definitions of KYC Transfer

KYC Transfer means a transfer of equity interest(s) in Borrower which results in the transferee owning an aggregate direct or indirect equity interest in Borrower of (a) if such transferee is not a Person organized under the laws of the United States or any state thereof nor a citizen of the United States, 10% or more, or (b) if such transferee is a Person organized under the laws of the United States or any state thereof or a citizen of the United States, 20% or more, and, with respect to clauses (a) and (b), such transferee did not own an aggregate 10% or 20%, respectively, prior to such transfer. The transferee under clause (a) or (b) is a “KYC Transferee”.
Sample 1

Related to KYC Transfer

  • Freddie Mac Transfer As defined in Section 13 hereof.

  • Asset Transfer means a sale, lease or other disposition of all or substantially all of the assets of the Company.

  • Type II transfer means that phrase as defined by Section 3 of the Executive Organization Act of 1965, 1965 PA 380, MCL 16.103.

  • Excluded Transfer means any transfer of VMTP Shares (1) to a tender option bond trust in which the Purchaser and/or its Affiliates collectively own all of the residual interests, (2) in connection with a distribution in-kind to the holders of securities of or receipts representing an ownership interest in any tender option bond trust in which the Purchaser and/or its Affiliates collectively own all of the residual interests, (3) in connection with a repurchase financing transaction or (4) relating to a collateral pledge arrangement.

  • Exempt Transfer means, in relation to shares held by a member:

  • Type III transfer means that term as defined under Section 3(c) of the Executive Organization Act of 1965, 1965 PA 380, MCL 16.103.

  • Permitted Transfer has the meaning set forth in Section 10.02.

  • Securitization Transfer The sale or transfer of some or all of the Mortgage Loans to a trust or other entity as part of a publicly-issued or privately-placed, rated or unrated mortgage pass-through or other mortgage-backed securities transaction.

  • Custody transfer means the transfer of produced crude oil and/or condensate, after processing and/or treating in the producing operations, from storage tanks or automatic transfer facilities to pipelines or any other forms of transportation.

  • Transfer Any direct or indirect transfer or sale of any Ownership Interest in a Residual Certificate.

  • Relevant Transfer means a transfer of employment to which the Employment Regulations applies;

  • Data Transfer means: 1.1.8.1 a transfer of Company Personal Data from the Company to a Contracted Processor; or 1.1.8.2 an onward transfer of Company Personal Data from a Contracted Processor to a Subcontracted Processor, or between two establishments of a Contracted Processor, in each case, where such transfer would be prohibited by Data Protection Laws (or by the terms of data transfer agreements put in place to address the data transfer restrictions of Data Protection Laws);

  • Fannie Mae Transfer As defined in Section 13 hereof.

  • Pre-Exchange Transfer means any transfer or distribution in respect of one or more Common Units (i) that occurs prior to an Exchange of such Common Units, and (ii) to which Section 743(b) or 734(b) of the Code applies.

  • Transfer Instruction is a specific information provided for a transfer to be made that you provide to the Account to Account Transfer Service for a transfer of funds.

  • Servicing Transfer Any transfer of the servicing by a Prior Servicer of Mortgage Loans to the Servicer under this Agreement.

  • IDR Transfer Agreement means an agreement to transfer, subject to the terms of Tariff, Part VI, section 237, Incremental Deliverability Rights to a party for the purpose of eliminating or reducing the need for Local or Network Upgrades that would otherwise have been the responsibility of the party receiving such rights. “Immediate-need Reliability Project” shall have the same meaning provided in the Operating Agreement.

  • Title Transfer means the transfer of title to Gas between two (2) Shippers at a Delivery Point, provided that each such party has executed a Transportation Service Agreement, or the transfer of title to Gas between two (2) Shippers at ATP, provided each such party has executed either a Transportation Service Agreement or a Title Transfer Agreement.

  • Agency Transfer The sale or transfer by Purchaser of some or all of the Mortgage Loans to Xxxxxx Xxx under its Cash Purchase Program or its MBS Swap Program (Special Servicing Option) or to Xxxxxxx Mac under its Xxxxxxx Xxx Xxxx Program or Gold PC Program, retaining the Company as "servicer thereunder".

  • Non-Transfer Event means any event or other changes in circumstances other than a purported Transfer, including, without limitation, any change in the value of any Shares.

  • Transfer Form means a standardized form prescribed by the Management Company to be duly filed by the investor to transfer Units and will be stated in this Offering Document.

  • Asset Transfer Agreement means the asset transfer agreement dated September 12, 2014 between Centurion Real Estate Opportunities Trust and Centurion Apartment REIT pursuant to which Centurion Apartment REIT seeded the initial portfolio of Centurion Real Estate Opportunities Trust.

  • Public conveyance means a conveyance that the public or a portion of the public has access to and a right to use for transportation, including an airline, railroad, bus, boat, or other public conveyance.

  • Proposed Transfer means any assignment, sale, offer to sell, pledge, mortgage, hypothecation, encumbrance, disposition of or any other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any of the Key Holders or Investors.

  • Transfer Instructions are the information that you provide when using the Service. “Us,” “We,” and “Our” means Credit Union.

  • Transfer Event means (i) a transfer of the ownership of a project, (ii) the sale or assignment of a partnership interest in a project owner and/or (iii) the refinancing of secured debt on a project. The following shall not be deemed a Transfer Event: (i) the transfer of the project or a partnership or membership interest in a project owner in which reserves remain with the project and the debt encumbering the project is not increased, refinanced or otherwise modified, (ii) the refinancing of project debt which does not increase the outstanding principal balance of the debt other than in the amount of the closing costs and fees paid to the project lender and third parties as transaction