Removal Condition definition

Removal Condition is satisfied if, on the Retransfer Date, after giving effect to such removal the sum of the Transferor Principal Balance and the Spread Account Amount is not less than the greater of (a) 5% of the Pool Balance on such date and (b) 2% of the Pool Balance on the Cut-Off Date (the "Overall Minimum Amount"); provided, however, that (1) in no event shall the -------- ------- Transferor Principal Balance, after giving effect to such removal, be less than 2% of the Pool Balance and (2) during the Rapid Amortization Period, no removal shall occur unless (A) no Rapid Amortization Event has occurred and (B) immediately prior to such removal, the Pool Balance is at least equal to the sum of (x) the outstanding Investor Certificate Principal Balance and (y) the Overall Minimum Amount. Upon receiving the requisite information from the Transferor, the Servicer shall perform in a timely manner those acts required of it as specified above and shall indicate on the Electronic Ledger that the Mortgage Loans retransferred to the Transferor are no longer in the Trust. Upon satisfaction of the above conditions to the extent provided in Section 2.2(c), on the Retransfer Date the Custodial Agent shall deliver to the Transferor the Mortgage File for each Mortgage Loan being retransferred and the Custodial Agent shall execute and deliver to the Transferor such other documents prepared by the Transferor as shall be reasonably necessary to retransfer such Mortgage Loan and related property to the Transferor. Any such retransfer of the Trust's right, title and interest in and to Mortgage Loans shall be without recourse, representation or warranty by or of the Trust to the Transferor. The Mortgage Loan Schedule shall be amended to reflect all additions, substitutions or deletions of Mortgage Loans provided for in this Section.
Sample 1
Removal Condition. As defined in Section 2.6. ----------------- Responsible Officer: When used with respect to the Trustee, any officer ------------------- assigned to the Corporate Trust Division (or any successor thereto), including any Vice President, Assistant Vice President, Trust Officer, any Assistant Secretary, any trust officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of this Agreement.
Sample 1Sample 2
Removal Condition. As defined in Section 2.6. -----------------
Sample 1

Examples of Removal Condition in a sentence

  • As a result, shares issued without legend may need to be returned to have such legend affixed to them in the event that the Registration Statement is not effective and the Company ceases to be subject to the reporting requirements of section 13 or 15(d) of the Exchange Act or fails to file a required report, subject to legend removal once a Legend Removal Condition has again been met.

  • Investor acknowledges the need to place such legend on any shares transferred by Investor otherwise than pursuant to an effective registration under the Securities Act or pursuant to Rule 144 and its agreement to do so pursuant to Section 2.5 hereof, subject to legend removal once a Legend Removal Condition has been met.

  • The certificates for the Commitment Shares and for the Fee Shares shall bear a legend until such time as a Legend Removal Condition has been met and the Investor has requested removal of such legend.

  • If a Receivable becomes a Defaulted Receivable during a Settlement Period then it shall become a “Removed Receivable” on the earliest of (a) the related Settlement Date if the Removal Condition is satisfied on such date, or (b) any subsequent Settlement Date on which the Removal Condition is satisfied; provided, however, that in either case no Receivable shall become a Removed Receivable at any time on or after the Termination Date.

  • Beginning on the earlier of January 1, 2008 or the date on which the Exterior Sign is installed on the Building and continuing until the Exterior Sign is removed following the earlier to occur of a Removal Condition or Landlord's termination of Tenant's rights under this Exhibit pursuant to Section 8 hereof, Tenant shall pay Landlord rent for the Exterior Sign space in the amount of $45,744 per annum (the “Sign Rent”) (prorated for any partial year(s)).

  • For clarity, if the Removal Condition is achieved after [time period redacted] of First EMA Approval, no milestone payments will be due for milestone event (4) or milestone event (5).

  • If a Legend Removal Condition (as defined in Section 9.10(iii) hereof) has been met, the Company shall cause the Transfer Agent to issue such certificates without a Legend, and the Irrevocable Instructions to Transfer Agent shall so indicate.

  • The Investor shall return any unlegended Put Shares, Commitment Shares or Fees Shares to the Company or its Transfer Agent to have a Legend placed upon them if the Company so requests the Investor in writing, and the Company certifies to the Investor in writing that no Legend Removal Condition then exists, after which the Company shall return such shares to the Investor with the required Legend.

  • Sublandlord may condition its approval to any Alterations on the removal of the same, and restoration of any damage caused by installation and removal, on or prior to the Expiration Date (the “Removal Condition”), provided, however, that Sublandlord shall only impose the Removal Condition in those instances where Master Landlord has imposed the Removal Condition as a condition of its approval of any such Alterations.


More Definitions of Removal Condition

Removal Condition has the meaning specified in Section .
Sample 1
Removal Condition means modification of the First Approved SmPC to remove both Limitations (if both Limitations were included in the First Approved SmPC) or the Limitation (if only one Limitation was included in the First Approved SmPC).
Sample 1

Related to Removal Condition

  • Terminal condition means an incurable condition caused by injury, disease, or illness that according to reasonable medical judgment will produce death within six months, even with available life-sustaining treatment provided in accordance with the prevailing standard of medical care.

  • Special Condition means a condition of a Transporter's Licence or Shipper's Licence other than a Standard Condition;

  • Abnormal Condition means any condition on the Interconnection Facilities which, determined in accordance with Good Utility Practice, is: (i) outside normal operating parameters such that facilities are operating outside their normal ratings or that reasonable operating limits have been exceeded; and (ii) could reasonably be expected to materially and adversely affect the safe and reliable operation of the Interconnection Facilities; but which, in any case, could reasonably be expected to result in an Emergency Condition. Any condition or situation that results from lack of sufficient generating capacity to meet load requirements or that results solely from economic conditions shall not, standing alone, constitute an Abnormal Condition.

  • Additional Conditions means the terms and conditions set out in the Offer Document.

  • General Condition means these General Terms and Conditions of Contract.

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • Environmental Conditions means any conditions of the environment, including, without limitation, the work place, the ocean, natural resources (including flora or fauna), soil, surface water, ground water, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by the use, handling, storage, treatment, recycling, generation, transportation, Release or threatened Release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, the Property.

  • Special Conditions means Special Conditions of Contract, which override the General Conditions, also referred to as SCC.

  • Adverse Environmental Condition means (i) the existence or the continuation of the existence, of an Environmental Contamination (including, without limitation, a sudden or non-sudden accidental or non-accidental Environmental Contamination), of, or exposure to, any substance, chemical, material, pollutant, Hazardous Substance, odor or audible noise or other release or emission in, into or onto the environment (including without limitation, the air, ground, water or any surface) at, in, by, from or related to any Equipment, (ii) the environmental aspect of the transportation, storage, treatment or disposal of materials in connection with the operation of any Equipment, or (iii) the violation, or alleged violation, of any Environmental Law, permits or licenses of, by or from any governmental authority, agency or court relating to environmental matters connected with any of the Equipment.

  • Physical Conditions Report means, with respect to the Property, a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion, which report shall, among other things, (a) confirm that the Property and its use complies, in all material respects, with all applicable Legal Requirements (including, without limitation, zoning, subdivision and building laws) and (b) include a copy of a final certificate of occupancy with respect to all Improvements on the Property.

  • Medical condition means either of the following:

  • Removal Notice shall have the meaning specified in Section 2.07(b).

  • Supplemental Conditions means those terms and conditions, if included in the Agreement by mutual written agreement of the Parties, which add to or modify the Agreement and are incorporated by reference as if fully set forth in the Agreement. In the case of a conflict between the Supplemental Conditions and the Agreement, the Supplemental Conditions shall prevail.

  • Removal Notice Date means, with respect to the Removed Accounts designated hereby, , (which shall be a date on or prior to the fifth Business Day prior to the Removal Date).

  • General Conditions means the “International Development Association General Conditions for Credits and Grants”, dated July 1, 2005 (as amended through October 15, 2006).

  • Condition Report means a condition report with respect to a Group III Vehicle, signed and dated by a Lessee or a Franchisee and any Manufacturer or its agent in accordance with the applicable Vehicle Disposition Program.

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Property Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion.

  • Due Diligence Examination shall have the meaning set forth in Section 3.2.

  • Emergency medical condition means a medical condition manifesting itself by acute symptoms of sufficient severity (including severe pain) so that a prudent layperson, who possesses an average knowledge of health and medicine, could reasonably expect the absence of immediate medical attention to result in a condition described in clause (i), (ii), or (iii) of section 1867(e)(1)(A) of the Social Security Act (42 U.S.C. 1395dd(e)(1)(A)). In that provision of the Social Security Act, clause (i) refers to placing the health of the individual (or, with respect to a pregnant woman, the health of the woman or her unborn child) in serious jeopardy; clause (ii) refers to serious impairment to bodily functions; and clause (iii) refers to serious dysfunction of any bodily organ or part.

  • Removal Event has the meaning set forth in Section 12.12 hereof.