Qualifying SPV definition

Qualifying SPV means any Person which is formed by the Borrower as a special purpose entity for the primary purpose of holding Qualifying SPV Assets in the ordinary course of investment activities and issuing Indebtedness secured by such Qualifying SPV Assets.
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Qualifying SPV means any company in respect of which (i) its shares are Controlled by HVDB or Qualifying Persons;
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Qualifying SPV means an SPV (i) that has executed and delivered to the Administrative Agent an SPV Guarantee, (ii) that has executed a deed of trust, mortgage or other security document pursuant to which such SPV has provided to the Collateral Agent, for the ratable benefit of the Agents, the Fronting Banks and the DIP Lenders, a perfected first priority Lien on any Rigas Real Property held by such SPV (subject only to such Liens as shall exist on the date of execution of such document and tax and other Liens arising by operation of law), which document shall contain the automatic release of Lien provisions described in Section 5(e) of Amendment No. 5 to this Agreement, and (iii) all of the Equity Interests of which shall be subject to a perfected first priority Lien for the ratable benefit of the Agents, the Fronting Banks and the DIP Lenders (subject to no other Liens); provided that the requirements set forth in clause (ii) shall apply at any time to an SPV only if at such time such SPV shall hold Rigas Real Property having a fair market value in excess of $50,000, as determined in good faith by the Parent. A Qualifying SPV may, but is not required to, have filed a voluntary petition with the Bankruptcy Court initiating a case under chapter 11 of the Bankruptcy Code.
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Examples of Qualifying SPV in a sentence

  • The Borrower will not at any time permit the aggregate fair market value of all Qualifying SPV Assets at such time to exceed 25% of the fair market value of the Invested Assets of the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP as of the end of the preceding calendar year.

  • In case of a Sale of the Class A Shares to a Person who is not a Qualifying SPV and/or Qualifying Persons a notice of such Sale shall be given to the Investing Shareholder by the Class A Shareholder.

  • The Lien of the Agents, the Fronting Banks and the DIP Lenders on any Rigas Real Property sold by any Qualifying SPV (but not on any proceeds thereof) shall be released automatically and without any further action on the part of the Agents, the Fronting Banks and the DIP Lenders upon the effective date of such sale.

  • FASB brought in concept of Qualifying SPV as per which unless SPV met the conditions for a Qualifying SPV it had to be consolidated.

  • Save for the restrictions foreseen under the applicable laws, Class A Shareholder may transfer her Class A Shares to a Qualifying SPV and/or Qualifying Persons, subject to Articles 3.4 and provided that such Person shall execute and deliver the Deed of Adherence as provided in Schedule 3.04 to the relevant Party(ies) and becomes party to this Agreement as the Class A Shareholder.

  • The Class A Shareholder shall be liable in respect of all her duties and obligations (and those of each Qualifying SPV) arising under, or in connection with, this Agreement.

  • Promptly, and in any event within three Business Days after the consummation of any disposition of any Rigas Real Property, the Parent shall cause the Qualifying SPV that has consummated such disposition to distribute the Net Proceeds thereof to the Parent by depositing such Net Proceeds in the Real Property Proceeds Account.

  • The Collateral Agent shall do such acts and execute and deliver such documents as may be reasonably requested from time to time by the applicable Qualifying SPV for the purpose of evidencing the release of any such Lien.

Related to Qualifying SPV

  • Qualifying week means the 15th week before the expected week of childbirth.

  • Qualifying student means a student who is an exceptional needs child, a South Carolina resident, and who is eligible to be enrolled in a South Carolina secondary or elementary public school at the kindergarten or later year level for the applicable school year.

  • Qualifying Shares means shares of Common Stock which either (i) have been owned by the Grantee for more than six (6) months and have been “paid for” within the meaning of Rule 144 promulgated under the Securities Act, or (ii) were obtained by the Grantee in the public market.

  • Qualifying Service means one year or more of continuous service and residence away from the home country and the country of nationality of a staff member, or the country where the staff member has acquired permanent resident status.

  • qualifying course means a qualifying course as defined for the purposes of Parts 2 and 4 of the Jobseeker’s Allowance Regulations 1996;

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.

  • Qualifying Period means 12 continuous Calendar Weeks during the whole or part of which the Agency Worker is supplied by one or more Temporary Work Agencies to the relevant Hirer to work temporarily for and under the supervision and direction of the relevant Hirer in the same role, and as further defined in the Schedule to these Terms;

  • Qualifying tax rate means the applicable tax rate for the taxable year for the which the taxpayer paid income tax to a municipal corporation with respect to any portion of the total amount of compensation the payment of which is deferred pursuant to a nonqualified deferred compensation plan. If different tax rates applied for different taxable years, then the “qualifying tax rate” is a weighted average of those different tax rates. The weighted average shall be based upon the tax paid to the municipal corporation each year with respect to the nonqualified deferred compensation plan.

  • Qualifying Equity Interests means Equity Interests of the Company other than Disqualified Stock.

  • Qualifying Dependent means, for Dependent Care Flexible Spending Account purposes,

  • Qualifying contribution means, with respect to a

  • Qualifying Notes means, at any time, any securities (other than the Notes) issued directly or indirectly by the Issuer:

  • Qualifying job means a permanent full-time job that:

  • Qualifying Company means a qualifying company within the meaning of section 110 of the Taxes Act;

  • Qualifying investment means a capital investment in real property including the purchase price of land and existing buildings, site preparation, building construction, and long-term lease costs. “Qualifying investment” also means a capital investment in depreciable assets.

  • Qualifying child means an individual who:

  • Qualifying Warrants means net share settled warrants to purchase Common Stock that have an exercise price greater than the current Market Value of the issuer’s Common Stock as of their date of issuance, that do not entitle the issuer to redeem for cash and the holders of such warrants are not entitled to require the issuer to repurchase for cash in any circumstance.

  • Qualifying year means the calendar year to which the qualifying certificate applies.

  • New Qualifying Jobs means the total number of jobs to be created by the Applicant after the Application Approval Date in connection with the project that is the subject of its Application that meet the criteria of Qualifying Job as defined in Section 313.021(3) of the TEXAS TAX CODE and the Comptroller’s Rules.

  • New Non-Qualifying Jobs means the number of Non-Qualifying Jobs, as defined in 34 TEXAS ADMIN. CODE Section 9.1051(14), to be created by the Applicant after the Application Approval Date in connection with the project which is the subject of its Application.

  • Qualifying Debt means amount due, which includes interest or any other sum due in respect of the amounts owed under any contract, by the debtor for a liquidated sum either immediately or at certain future time and does not include—

  • qualifying person means a person in respect of whom payment has been made from the Fund, the Eileen Trust, MFET Limited, the Skipton Fund, the Caxton Foundation or the London Bombings Relief Charitable Fund;

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Qualifying Subsidiary means any Subsidiary of the Company that (i) is not the Issuer or an Initial Guarantor, and (ii) at the relevant time of determination, is not a Joint Venture Company, a Project Company, a Local Operating Company, a Bidding Company or a Holding Vehicle.

  • Qualifying Facility means an electric energy generating facility that complies with the qualifying facility definition established by PURPA and any FERC rules as amended from time to time (18 Code of Federal Regulations Part 292, Section 292.203 et seq.) implementing PURPA and, to the extent required to obtain or maintain Qualifying Facility status, is self-certified as a Qualifying Facility or is certified as a Qualified Facility by the FERC.

  • Qualifying Offering means a private offering of *****’s equity securities (or securities convertible into or exercisable for *****’s equity securities) for cash (or in satisfaction of debt issued for cash) having its final closing on or after the date of this Agreement and which includes investment by one or more venture capital, professional angel, corporate or other similar institutional investors other than Stanford. For the avoidance of doubt, if ***** is a limited liability company, then “equity securities” means limited liability company interests in *****.