Prohibited Asset definition

Prohibited Asset means any asset with respect to which the Obligor thereof is an Excluded Company.
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Prohibited Asset means (a) an equity interest in a “partnership,” grantor trust or entity that is disregarded as separate from its owner (other than BD Holdco), in each case for U.S. federal, state or local income tax purposes, (b) a residual interest in a “REMIC” (as such term is defined in the Code), and (c) a “United States real property interest” (as such term is defined in the Code), including an equity interest in a United States real property holding corporation.
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Prohibited Asset is defined in the definition of “Retained Assets”.
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Examples of Prohibited Asset in a sentence

  • The date on which such ROFO Transferor’s Notice is actually received by Xxxxx Corning is referred to hereinafter as the “ROFO Notice Date.” Xxxxx Corning shall have sixty (60) days following the ROFO Notice Date to notify Saint-Gobain in writing whether Xxxxx Corning wishes to buy such Prohibited Asset on the same terms as set forth in the ROFO Transferor’s Notice (the “ROFO Notice”).

  • The ROFO Transferor or its applicable Affiliate shall be liable for the Transfer of full and unencumbered legal title to the Prohibited Asset.

  • The date on which such ROFO Transferor’s Notice is actually received by the Company is referred to hereinafter as the “ROFO Notice Date.” The Company shall have sixty (60) days following the ROFO Notice Date to notify the ROFO Transferor in writing whether the Company (or any Joint Venture Entity) wishes to buy such Prohibited Asset on the same terms as set forth in the ROFO Transferor’s Notice (the “ROFO Notice”).

  • Prohibited Asset Classes: Specialty use assets (R&D, healthcare, industrial, call centers, data centers, golf courses, auto dealerships, etc.), all development, residential projects, raw or infrastructered land, condominium projects and assets located outside of the United States.

  • The date on which such Transferor’s Notice is actually received by the Company and the other Party, whichever is earlier, is referred to hereinafter as the “Notice Date.” The Company shall have sixty (60) days following the Notice Date to notify the Transferor in writing whether the Company (or any Joint Venture Entity) wishes to buy such Prohibited Asset on the same terms as set forth in the Transferor’s Notice (the “ROFR Notice”).

  • Guarantor shall not, and shall not permit any of its Subsidiaries to, engage in any Prohibited Asset Sales.

  • The Issuer (and the Collateral Manager on behalf of the Issuer) shall be required to use its commercially reasonable efforts to effect the sale of any Vxxxxxx Rule Prohibited Asset.

  • Saint-Gobain or its applicable Affiliate shall be liable for the transfer of full and unencumbered legal title to the Prohibited Asset.

  • If Xxxxx Corning does provide a ROFO Notice to Saint-Gobain within such sixty (60) day period, such ROFO Notice shall be deemed to create a binding agreement between Saint-Gobain or its applicable Affiliate and Xxxxx Corning (or the Affiliate designated by Xxxxx Corning in the ROFO Notice) to transfer, subject to the receipt of the purchase price, all and not less than all of the Prohibited Asset at the price and on the other terms and conditions set forth in the ROFO Transferor’s Notice.

  • The Transferor or its applicable Affiliate shall be liable for the Transfer of full and unencumbered legal title to the Prohibited Asset.


More Definitions of Prohibited Asset

Prohibited Asset means any of the following asset types: aircraft lease securities, enhanced equipment trust certificates, structured settlement securities, tobacco settlement securities, manufactured housing securities, 12(b)-1 fee securities, future flow securities, emerging markets securities, sub and re-performing credit card securities, franchise loan securities, market value collateralized debt obligations, collateralized loan obligations or CDO of CDO Securities.
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Prohibited Asset shall have the meaning set forth in Section 6.1(c).
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Prohibited Asset. CLASSES The following asset classes are prohibited investments: Interest only CMO class Principal only CMO class Inverse floater CMO class Forwards* Futures* Options* * Except as explicitly discussed under Permitted Asset Classes. EXHIBIT B CUSTODIAN FEES AND COSTS FIRST TRUST NATIONAL ASSOCIATION Proposed Fee Schedule For Acting As Custodian ARM FINANCIAL, INC.
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Prohibited Asset means any of the following types of asset-backed securities that do not (in each case) otherwise satisfy the definition of Specified Type): aircraft lease securities, enhanced equipment trust certificates, structured settlement securities, tobacco settlement securities, manufactured housing securities, 12(b)-1 fee securities, future flow securities, emerging markets securities, sub and reperforming credit card securities, Franchise Loan Securities, Market Value CDO Securities, CLO Securities or CDO of CDO Securities.
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Related to Prohibited Asset

  • Prohibited Act the following constitute Prohibited Acts:

  • Prohibited Action means an action of the Client as defined under paragraph 10.1 of this Client Agreement. A Prohibited Action constitutes an event of Default giving the Company the right to take action under paragraph 14.2 of this Client Agreement.

  • Prohibited Party As of any date of determination, any Person that has theretofore failed to comply with such Person’s obligations under Regulation AB with respect to the Trust Fund or any other securitization if (and only if) both (A) such failure was an “event of default” under the relevant agreement to which such Person was a party, and (B) such Person is proposed to become a Servicing Function Participant in respect of the Trust Fund. In determining whether any person or entity is a “Prohibited Party”, each party hereto, provided that they are not an Affiliate of such Person, shall be entitled to conclusively rely on a written certification from any Person stating that it is not a Prohibited Party. All necessary determinations under or for purposes of this definition shall be made as of the date of consummation of the transaction in which the relevant person or entity would become a Servicing Function Participant in respect of the Trust Fund.

  • Prohibited Activity means any service or activity on behalf of a Competing Business that involves the planning, management, supervision, or providing of services that are substantially similar to those services Employee provided to the Company within the last 12 months of Employee’s employment with the Company.

  • Prohibited Acts means the acts specified in Clause 33 (Prohibited Acts);

  • Prohibited Person means any Person:

  • Prohibited Transferee means any of the Persons listed on Schedule I attached to this Agreement.

  • Prohibited source means any person or entity who:

  • Prohibited Items means any items which we or any Authorised Person deem to be dangerous or inappropriate including (without limitation) those items specified in sub-paragraphs 27(b)(c) and (d) of these Conditions and any further items listed at www.snowbombing.com from time to time;

  • Prohibited Distributions means any and all dividends or other distributions paid by the Corporation with respect to any Excess Securities received by a Purported Transferee.

  • Prohibited Area means North America, South America and the European Union, which Prohibited Area the parties have agreed to as a result of the fact that those are the geographic areas in which the members of the Parent Group conduct a preponderance of their business and in which the Executive provides substantive services to the benefit of the Parent Group.

  • Prohibited Transfer means any Transfer or purported Transfer of Corporation Securities to the extent that such Transfer is prohibited and/or void under this Article IX.

  • Prohibited Activities has the meaning set forth in Section 13.1.

  • Prohibited Jurisdiction means any country or jurisdiction, from time to time, that is the subject of a prohibition order (or any similar order or directive), sanctions or restrictions promulgated or administered by any Governmental Authority of the United States.

  • prohibited substance means any substance so described on the Prohibited List, which appears in Annex I to this Convention.

  • Prohibited Transaction has the meaning set forth in ERISA Section 406 and Code Section 4975.

  • Prohibited Content means any content on any advertising media that:

  • prohibited goods means goods which have been, or are being, dealt with in contravention of any prohibition specified in regulation 89(2)(a) to (e);

  • Prohibited Transactions is defined in ERISA Section 406 and Code Section 4975.

  • ERISA Prohibited Holder As defined in Section 5.02(d).

  • Prohibited Business shall be defined as any business and any branch, office or operation thereof, which is a primary competitor of the Company with respect to the Business wherever the Company does business, in North America or abroad.

  • Prohibited Investment means Property (other than prescribed excluded Property as that term is defined in the Tax Act) that is:

  • Prohibited Transaction Class Exemption means U.S. Department of Labor prohibited transaction class exemption 84-14, 90-1, 91-38, 95-60 or 96-23, or any similar prohibited transaction class exemption issued by the U.S. Department of Labor.

  • Prohibited Investor means a person or entity whose name appears on (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (ii) other lists of prohibited persons and entities as may be mandated by applicable law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Fund in connection therewith;

  • Prohibited Transaction Tax Any tax imposed under Section 860F of the Code. Prospectus: The prospectus dated February 21, 2006 as supplemented by the prospectus supplement dated February 23, 2006, relating to the Class A, Class B-1, Class B-2 and Class B-3 Certificates.

  • Prohibited Owner means, with respect to any purported Transfer, any Person who, but for the provisions of Section 5.9(ii)(a), would Beneficially Own or Constructively Own Shares, and if appropriate in the context, shall also mean any Person who would have been the record owner of the Shares that the Prohibited Owner would have so owned.