Qualified Asset definition

Qualified Asset means any Eligible Owned Asset, Eligible Ground Leased Asset or Eligible Leased Asset; provided, that the Company may from time to time, upon a Qualified Asset ceasing to satisfy the applicable Eligibility Criteria in a transaction permitted by this Agreement designate a Qualified Asset as a non-Qualified Asset and, from such date of determination, such Qualified Asset shall cease to be a Qualified Asset.

Qualified Asset means a physical asset that provides or supports an essential 714 public service.

Qualified Asset means a physical asset that provides or supports an essential

Examples of Qualified Asset in a sentence

• None of the Qualified Assets or the Equity Interests of any Qualified Asset Owner is subject to any Lien except Permitted Encumbrances and Permitted Equity Encumbrances.

• No Tax Lien has been filed with respect to any Qualified Asset that is not a Permitted Encumbrance, and as of the Closing Date, to the knowledge of any Obligor, no claim is being asserted with respect to any such Taxes, fees or other charges of any Group Member that could reasonably be expected to have a Material Adverse Effect.

• EXPIRATION DATE: The earlier of (i) February 28, 2021 and (ii) the date of consummation of (A) any Qualified Asset Sale, (B) the sale, lease, conveyance or other transfer of all or substantially all of the consolidated assets of the Company and its Subsidiaries in one transaction or a series of related transactions to any Person that is not a Qualified Asset Buyer or (C) any Excepted Combination.

• For the avoidance of doubt, if after giving effect to the removal of such Qualified Asset from the Borrowing Base, Availability shall be less than $0, the Borrower shall be immediately required to make a mandatory prepayment of the Loans in accordance with Section 5.2.

• The Executive Committee shall have seven (7) Business Days after its receipt of the Acquisition Memorandum to approve or disapprove of the acquisition of a Proposed Qualified Asset or Non-Parameter Asset in accordance with Section 3.4 hereof.

More Definitions of Qualified Asset

Qualified Asset any Eligible Owned Asset or Eligible Ground Leased Asset, in each case which shall be initially listed as of the Closing Date on Schedule 1.1B, plus any property or asset which subsequently becomes a Qualified Asset in accordance with Section 8.17, but excluding (i) any Qualified Asset which is removed by the Administrative Agent in accordance with Section 8.16 or (ii) any Qualified Asset which is released in accordance with Section 8.15.

Qualified Asset any Eligible Owned Asset, Eligible Ground Leased Asset, Eligible Capital Leased Asset, Eligible Operating Leased Asset or Eligible Managed Segment, in each case which shall be initially listed as of the Closing Date on Schedule 1.1B, plus any property or asset which subsequently becomes a Qualified Asset in accordance with Section 8.17, but excluding (i) any Qualified Asset which is removed by the Administrative Agent in accordance with Section 8.16 or (ii) any Qualified Asset which is released in accordance with Section 8.15.

Qualified Asset means, at any time, any Eligible Owned Asset or Eligible Ground Leased Asset. Each Qualified Asset as of the date of the Closing is set forth on Schedule QA.

Qualified Asset or “Qualified Assets” shall mean the direct or indirect interest of the Partnership in (a) each Approved Qualified Asset and Non-Parameter Asset acquired by the Partnership pursuant to Section 3.6 hereof, and (b) the Qualified Assumed Assets.

Qualified Asset means (a) each Marina Property or other Real Estate Asset listed on Schedule III as of the FirstThird Amendment Effective Date, and (b; (b) upon the consummation of the Specified Acquisition in accordance with the Specified Acquisition Documents, the Specified Marina and the Specified Marine Center; and (c) any other Marina Property or other Real Estate Asset that satisfies the Qualified Asset Criteria at all times during which such Marina Property or other Real Estate Asset is included in the Borrowing Base, including (i) any Marina Property or other Real Estate Asset which subsequently becomes a Qualified Asset in accordance with Section 7.20, (ii) any Marina Property or other Real Estate Asset that is owned by an Investment Joint Venture that subsequently becomes a Wholly-Owned Subsidiary of any Credit Party and whose Marina Property or other Real Estate Asset becomes a Qualified Asset in accordance with Section 7.20 and (iii) any Substantially Completed Asset Under Development that subsequently becomes a Qualified Asset in accordance with Section 7.20, but excluding (x) any Qualified Asset which is removed by the Administrative Agent in accordance with Section 7.19(b) or (y) any Qualified Asset which is released in accordance with Section 7.19(a).

Qualified Asset means (a) each Marina Property or other Real Estate Asset listed on Schedule III as of the First Amendment Effective Date, and (b) any other Marina Property or other Real Estate Asset that satisfies the Qualified Asset Criteria at all times during which such Marina Property or other Real Estate Asset is included in the Borrowing Base, including (i) any Marina Property or other Real Estate Asset which subsequently becomes a Qualified Asset in accordance with Section 7.20, (ii) any Marina Property or other Real Estate Asset that is owned by an Investment Joint Venture that subsequently becomes a Wholly-Owned Subsidiary of any Credit Party and whose Marina Property or other Real Estate Asset becomes a Qualified Asset in accordance with Section 7.20 and (iii) any Substantially Completed Asset Under Development that subsequently becomes a Qualified Asset in accordance with Section 7.20, but excluding (x) any Qualified Asset which is removed by the Administrative Agent in accordance with Section 7.19(b) or (y) any Qualified Asset which is released in accordance with Section 7.19(a).

Qualified Asset any Eligible Owned Asset or Eligible Ground Leased Asset.