Qualified Collateral definition

Qualified Collateral means one or more Qualified Vessels and/or cash and Cash Equivalents, the aggregate Fair Market Value of which is at least equal to the Appraised Value of the Mortgaged Vessel or Mortgaged Vessels for which such Qualified Collateral is being substituted.

Qualified Collateral means one or more completed Qualified Vessels, completed Qualified Container Assets and/or cash and Cash Equivalents; provided that, in the case of a substitution only, (i) the aggregate Fair Market Value of such Qualified Collateral shall be at least equal to the Appraised Value of the Mortgaged Vessel(s) or Mortgaged Container Asset(s) for which such Qualified Collateral is being substituted; and (ii) to the extent the applicable Mortgaged Vessel for which such Qualified Collateral is being substituted was employed by way of a Charter, the applicable Qualified Vessel is employed by way of a Charter with an Acceptable Charterer.

Qualified Collateral has the meaning given to that term in the Pledge Agreement.

Examples of Qualified Collateral in a sentence

• This Assignment shall automatically terminate, and be of no further force and effect, upon (i) the payment in full of the outstanding principal amount and accrued and unpaid interest and any other amounts then due and owing in respect of the Notes and the other Obligations, (ii) the defeasance of the Notes in accordance with the terms of the Indenture or (iii) the substitution of Qualified Collateral for the Collateral or the release of the Collateral in accordance with the terms of the Indenture.

• The Company or any Mortgaged Vessel Guarantor may at its option, at any time and from time to time, elect in its sole discretion to substitute any Voluntary Collateral with Qualified Collateral in compliance with the provisions of Section 5.9(c).

• For the avoidance of doubt, for all purposes of this Agreement, as of any date of determination, the value of any Qualified Loan and any other items included in the Qualified Collateral shall be equal to the Market Value of such Qualified Loan or item, as applicable, as of such date of determination.

• The Collateral Agent is entitled to rely upon the Qualified Collateral Schedule provided as of the most recent date of delivery as the conclusive schedule in its review of the submitted Qualified Loan File.

• The Grantor and the Performance Guarantor, respectively, each bears the risk of loss for any Qualified Collateral held in such party’s possession prior to delivery or in transit to or from the Grantor to the Collateral Agent or its agent.

More Definitions of Qualified Collateral

Qualified Collateral means: (i) Qualified Loans or XXXX; (ii) Mortgage Documents and other documents, instruments or liens representing or securing the Qualified Loans or XXXX; (iii) all payment records with respect to the Qualified Loans or XXXX; (iv) the Securities Account; (vi) all Qualified Substitute Collateral; (vi) all documents relating to the Securities Account; (vii) all Proceeds of the foregoing regardless of the form thereof, including, without limitation, all Proceeds in the form of accounts, chattel paper, payment intangibles, promissory notes and goods subject to a consignment; and (viii) with respect to any portion of the Qualified Collateral in excess of 100% of the AgVantage Bond Balance, any Qualified Substitute Collateral.

Qualified Collateral means (i) any property subject to a Lien consistent with the requirements of this Indenture which is a "full-service" or "all-suites" property as determined in good faith by the Company and consistent with industry standards; (ii) any and all related real property thereto; (iii) property consisting of furniture, furnishings, fixtures and equipment and machinery forming a part thereof or used in connection therewith; (iv) trademarks, to the extent assignable (other than the Company's proprietary tradenames including, without limitation, "AmeriSuites" and "Wellesley Inns"), as provided in the Collateral Documents; (v) assignments of rents, contracts and franchise rights, to the extent assignable, all as provided in the Collateral Documents; and (vi) proceeds of the foregoing.

Qualified Collateral means: all Collateral other than the Pledged Shares, including the Restricted Proceeds and any Additional Collateral, to the extent each is Collateral at such time. The Textron Collateral shall become Qualified Collateral only when it becomes Collateral pursuant to the terms hereof.

Qualified Collateral means and include all Collateral secured by Eligible Mortgages and all cash deposited with Bank in trust as security for the Notes. Such Notes shall have been endorsed by Trust to Bank and placed in Bank's possession under written instrument of pledge constituting a first lien, and shall be secured by Eligible Mortgages which have been transferred and assigned to the Bank by instrument in recordable form and recorded in the proper real estate records of the jurisdiction in which the property covered therein is situated.

Qualified Collateral means accrued interest, accrued administrative late fees, plus Borrower’s advance costs for purchase of rights of collection.

Qualified Collateral means one or more Qualified Vessels and/or cash and Cash Equivalents, the aggregate Fair Market Value of which is atleast equal to the Appraised Value of the Mortgaged Vessel or Mortgaged Vessels for which such Qualified Collateral is being substituted.

Qualified Collateral has the meaning given to that term in the Pledge Agreement. “Qualified Loans” has the meaning given to that term in the Pledge Agreement. “REIT” means the Gladstone Land Corporation, a Maryland corporation, and the consolidated parent company of Issuer. “Related Parties” means, with respect to any Person, such Person’s affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s affiliates. “Stockholders’ Equity” shall be the stockholders’ equity of the REIT, as of the end of each Fiscal Quarter or the Fiscal Year, as applicable, as presented in the Financial Statements. “Total Assets” means the sum of (a) the Land Asset Fair Value Adjustment and (b) the total assets as of the end of each Fiscal Quarter or the Fiscal Year, as applicable, as presented in the Financial Statements. “Total Debt” means the total interest-bearing debt of the REIT (including any preferred term stock that is required to be accounted for as debt under GAAP) as of the end of each Fiscal Quarter or the Fiscal Year, as applicable, as presented in the Financial Statements.