Perfection Event definition

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

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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

Except as otherwise provided in the relevant Servicing Agreement, the Trustee shall not take any such action until the occurrence of a Title Perfection Event and until directed to do so by the Manager.
On or after the occurrence of a Perfection Event, the Lender may in its absolute discretion cause one or more of such Collateral Documents to be recorded or filed in the appropriate recording or filing office (to the extent recordable or fileable).
Except as otherwise provided in the relevant Servicing Agreement, the Trustee shall not take any such action until the occurrence of a Title Perfection Event.
Each Noteholder acknowledges that the Note Trustee has no duty, and is under no obligation, to investigate whether a Manager's Default, Servicer Transfer Event or Title Perfection Event has occurred in relation to the Trust other than where it has actual notice.
If a Title Perfection Event or Custodian Transfer Event occurs, then the provisions of clauses 7.10 and 7.12 of this deed will apply and, if applicable, the Trustee may terminate the appointment of the Custodian as custodian under this clause 7.

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 each of the events set out in paragraphs (a) to (g) inclusive below:

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, in respect of an Originator, the occurrence of any of the following:

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

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 (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);