Perfection Event means any of the events specified in Clause 6.1 (Perfection Events) of the Mortgage Sale Agreement;
Perfection Event has the meaning specified in subsection 9.10(a)(ii).
Perfection Event means the acquisition by Borrower of ownership of such equipment either pursuant to the exercise of a purchase option, at the expiration of the applicable lease term or otherwise); and
Examples of Perfection Event in a sentence
The Issuer has not applied, and prior to the occurrence of a Perfection Event will not apply, to the Land Registry or the Registry of Deeds to register or record its equitable interest in the Mortgages.
If a Title Perfection Event occurs, the Trustee with the assistance of the Servicer must take such steps as are necessary to perfect the Trustee's legal title in the Housing Loans.
If a Title Perfection Event occurs, the Trustee must take certain actions to perfect its legal title in the Housing Loans.
The sale by the Originator to the Issuer of the Loans and their Related Security (until legal title is conveyed following a Perfection Event) takes effect in equity only.
As a result, legal title to the Loans and their Related Security sold by the Originator to the Issuer will remain with the Originator until the occurrence of a Perfection Event under the terms of the Mortgage Sale Agreement.
More Definitions of Perfection Event
Perfection Event means the earlier of November 1, 1998 and the occurrence of an Event of Default.
Perfection Event means any of the events specified in Clause 6.1 (PERFECTION EVENTS) of the Mortgage Sale Agreement;
Perfection Event means the Lender providing the Borrower with a further $250,000 USD in funding as described in Schedule 1 in exchange for the Borrower giving the Lender 19.9% of the Borrowers issued share capital in Ordinary fully paid shares after any recapitalisation currently contemplated by the Borrower or occurring within the 12 month period following execution of this document and the completion of the requirements set out in Clause 2.3 herein. Reorganisation Event an event pursuant to which any person or persons obtains Control of the Borrower as a result of making a general offer to acquire the whole of the issued share capital of the Borrower which is either unconditional or is made on a condition such that if it is satisfied the person(s) making the offer will have Control of the Borrower, or through a court or regulatory approved scheme. Repayment Date the date falling 12 calendar months from (and including) the Drawdown Date. Security a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having similar effect. Form of Interest Instrument the conversion instrument substantially in the form set out in Schedule 4.
Perfection Event means each of the events set out in paragraphs (a) to (g) inclusive below:
Perfection Event means either (i) the occurrence of a Default or (ii) if as of the end of any month, the aggregate book value of the Borrowers' inventory equals or exceeds Two Million Dollars ($2,000,000). If a Perfection Event occurs then Parent will, and will cause each Subsidiary to, take such action as the Agent may request to perfect and protect the Liens of the Agent in all Collateral, including any or all of the actions described in clauses (a) and (b) of this SECTION 8.10.
Perfection Event means (i) the occurrence of a Default; (ii) with respect to any piece of equipment which is subject to an operating or capital lease, the acquisition by Borrower of ownership of such equipment either pursuant to the exercise of a purchase option or otherwise at the expiration of the applicable lease term; or (iii) with respect to the equipment listed on Schedule 9.10 (a), the determination by Borrower or any Subsidiary not to dispose of such equipment or the failure of such equipment to be disposed of by December 31, 1999. Each Approved Bank Affiliate, by accepting the benefits of the Liens granted in the Loan Documents: (A) consents to the Liens granted in favor of the Agent in the Borrower's rights in and to the operating and capital leases entered into with the Borrower and the equipment the subject thereof and (B) agrees that when all obligations owed to it arising in connection with any such operating or capital lease are satisfied (provided that the Borrower becomes the owner of the equipment subject to such lease), it will deliver any certificates of title evidencing the ownership in such equipment to the Agent, with such documentation as the Agent may require to release the Secured Party's Lien thereon, transfer ownership to the Borrower and record the Agent's Lien thereon. The Agent is authorized to record its Lien on any certificate of title so received.
Perfection Event means either (i) the occurrence of a Default or (ii) if as of the end of any month, the aggregate book value of the Borrowers' inventory equals or exceeds Two Million Dollars ($2,000,000). If a Perfection Event occurs then Parent will, and will cause each Subsidiary to, take such action as the Agent may request to perfect and protect the Liens of the Agent in all Collateral, including any or all of the actions described in clauses (a) and (b) of this Section 8.10.