Recourse Assets means any Project Assets other than Protected Assets.
Recourse Assets has the meaning assigned to that term in Section 12.09(c).
Recourse Assets means (a) all real and personal property in which the Borrower or any Guarantor has any right, title or interest, and (b) to the extent not included in clause (a), (i) all assets of the Tribe or any Affiliate of the Tribe used in a Gaming Business, (ii) all cash, Cash Equivalents, receivables and other assets generated by the businesses or assets referred to in clauses (a) and (b)(i) of this definition or constituting proceeds of the Indebtedness incurred pursuant to the Loan Documents or any other Indebtedness of the Loan Parties, and (iii) all proceeds, income and profits from any of the assets referred to in clauses (a) and (b) of this definition; provided, however, that “Recourse Assets” excludes (A) funds or other assets actually distributed to the Tribe in accordance with Section 6.04, (B) any Capital Stock in the Borrower or any of its Subsidiaries, (C) any surveillance equipment, computers or related equipment owned by the Gaming Commission and used in connection with its regulatory responsibilities and (D) any Protected Assets.
Examples of Recourse Assets in a sentence
If, at the time of such voluntary winding up, the directors of the Issuer are of the reasonable opinion that such costs and expenses would exceed the balance standing to the credit of the Expense Account at such time, an amount sufficient to cover such excess (the “Winding Up Reserve”) shall be deducted from the proceeds of the Recourse Assets and transferred to the Expense Account.
The obligation of the Issuer to make payments in respect of the Security will be limited to such amounts received in respect of the Net Recourse Assets, after payment of all Senior Obligations, and the Security Holder will have no further recourse to the Issuer in respect of its payment obligation under the Security.
The Security Holder will have recourse only to the Net Recourse Assets.
The obligation of the Issuer to make payments in respect of the Securities will be limited to such amounts received in respect of the Net Recourse Assets, after payment of all Senior Obligations, and the Security Holders will have no further recourse to the Issuer in respect of its payment obligation under the Securities.
The Security Holders will have recourse only to the Net Recourse Assets.
More Definitions of Recourse Assets
Recourse Assets has the meaning ascribed to such term in the definition of Non-Recourse Debt above.
Recourse Assets means entities or properties (i) which are located in Permitted Jurisdictions, and (ii) to which any part of Total Debt, excluding Indebtedness under Subordinated Indebtedness and any other part of Total Debt which is unsecured and not ranking, or capable of ranking, senior to or pari passu with Total Debt, has direct recourse, whether as primary or secondary obligor, contingent or otherwise, secured or unsecured.
Recourse Assets means all now owned or hereafter acquired property of Borrower, the Guarantor or any enterprise, instrumentality or Affiliate of Borrower (whether or not otherwise designated as property of Borrower or such enterprise, instrumentality or Affiliate) which is located at, should be accounted for as an asset of, or used in connection with activities of, any element of the Gaming
Recourse Assets shall have the meaning set forth in Section 2.2(b) hereof.
Recourse Assets means, at any given point of time, all assets of SEAG or SFHG (as relevant) that are realised (or may become capable of being realised based on the fair value of such assets determined on a solvent liquidation (over 3 years) basis) in a liquidation or winding up of SEAG or SFHG (as relevant) and applied or may become capable of being applied towards discharge of the Liabilities and the liabilities owed to all other creditors of SEAG or SFHG (as relevant) or available for distribution to all creditors of SEAG or SFHG (as relevant) following deduction or payment of the properly incurred costs and/or expenses of such liquidation or winding up (as relevant).
Recourse Assets has the meaning assigned to such term under Section 12.09(c). “Recoveries” means, as of the time any Underlying Collateral with respect to any Collateral Asset is sold, discarded or abandoned (after a determination by the Collateral Manager that such Underlying Collateral has little or no remaining value) or otherwise determined to be fully liquidated by the Collateral Manager in accordance with the Collateral Manager Standard, the proceeds from the sale of the Underlying Collateral, the proceeds of any related Insurance Policy, any other recoveries with respect to such Collateral Asset, as applicable, the Underlying Collateral, and amounts representing late fees and penalties, net of any Liquidation Expenses and any other amounts received that are required under such Collateral Asset, as applicable, to be refunded to the related Obligor. “Register” has the meaning assigned to that term in Section 2.13(a). “Registered” means a debt obligation that is in registered form for U.S. federal income tax purposes within the meaning of Section 881(c)(2)(B)(i) of the Code and the Treasury regulations promulgated thereunder (including Treasury Regulations Section 5f.103-1(c)) and that is issued after July 18, 1984; provided that a certificate of interest in a grantor trust shall not be
Recourse Assets has the meaning assigned to such term under Section 12.09(c). “Recoveries” means, as of the time any Underlying Collateral with respect to any Collateral Asset is sold, discarded or abandoned (after a determination by the Collateral Manager that such Underlying Collateral has little or no remaining value) or otherwise determined to be fully liquidated by the Collateral Manager in accordance with the Collateral Manager Standard, the proceeds from the sale of the Underlying Collateral, the proceeds of any related Insurance Policy, any other recoveries with respect to such Collateral Asset, as applicable, the Underlying Collateral, and amounts representing late fees and penalties, net of any Liquidation Expenses and any other amounts received that are required under such Collateral Asset, as applicable, to be refunded to the related Obligor. “Register” has the meaning assigned to that term in Section 2.13(a). “Registered” means a debt obligation that is in registered form for U.S. federal income tax purposes within the meaning of Section 881(c)(2)(B)(i) of the Code and the Treasury regulations promulgated thereunder (including Treasury Regulations Section 5f.103-1(c)) and that is issued after July 18, 1984; provided that a certificate of interest in a grantor trust shall not be treated as Registered unless each of the obligations or securities held by the trust was issued after that date. “Reinvestment Period” means the period commencing on the Closing Date and ending on the earliest to occur of (i) the Reinvestment Period End Date, (ii) the Commitment Termination Date and (iii) the Final Maturity Date. “Reinvestment Period End Date” means April 1, 2027. “Relevant Governmental Body” means (i) with respect to a Benchmark Replacement in respect of Advances denominated in Dollars, the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor thereto, (ii) with respect to a Benchmark Replacement in respect of Advances denominated in British Pounds, the Bank of England, or a committee officially endorsed or convened by the Bank of England or, in each case, any successor thereto, and (iii) with respect to a Benchmark Replacement in respect of Advances denominated in an Alternative Currency (other than British Pounds), (a) the central bank for such Alternative Currency or any ...