Perfection Event definition

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 earlier of November 1, 1998 and the occurrence of an Event of Default.

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.

• 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.

• 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.

More Definitions of Perfection Event

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

Perfection Event means, in respect of an Originator, the occurrence of any of the following:

Perfection Event means the occurrence of an Event of Default hereunder or the failure of Borrower to pay in full all amounts owing to the Lenders hereunder and under the Term Loan Notes on or before the Maturity Date.

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 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, at the expiration of the applicable lease term or otherwise; 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);

Perfection Event means any of the events specified in Clause 6.1 (PERFECTION EVENTS) of the Mortgage Sale Agreement;