Replacement Asset definition

Replacement Asset means a Property or asset that, as determined by the Board of Directors of the Company as evidenced by a Board Resolution, is used or is useful in a Related Business.

Replacement Asset. Has the meaning set forth in Section 3.04 of the related Transfer Agreement.

Replacement Asset any property acquired by a Company or any of its Subsidiaries subsequent to the Closing Date which replaces Obsolete Property of the same type and utility as the property acquired.

Examples of Replacement Asset in a sentence

• Unless otherwise specified in the Issue Terms, the Loan Servicer may apply such proceeds in the purchase on behalf of the Issuer of Replacement Asset (as defined in the Loan Servicing Agreement), subject to any Rating Agency requirements, all as more particularly set out in the Loan Servicing Agreement and the Issue Terms.

• Asset Returned to Vendor For Replacement Asset: If an asset is returned to the original vendor for a replacement on the same reference, notify the Asset Management Office by email ( manageassets@byu.edu).

• This corresponds to valuation on a Modern Engineering Equivalent Replacement Asset (MEERA) basis.

• In terms of the provisions of the Sale Agreement, the Seller has the right, but not the obligation, subject to terms and conditions, to replace by prior written notice furnished to the Issuer and the Servicer, one or more Participating Assets with other Eligible Assets in accordance with the terms of the Sale Agreement (each, a Replacement Asset, as defined).

• In that event, the Asset Trustee shall be discharged from the trusts of the Scheme and these Rules shall have effect as if the Replacement Asset Trustee were the Asset Trustee.

More Definitions of Replacement Asset

Replacement Asset means, with respect to any Disposition or Involuntary Disposition, a Property or asset that is the same or similar to the Property or asset subject to such Disposition or Involuntary Disposition or any other Property or asset that is used or will be used in the ordinary course of the Stopping Center business of the Borrower consistent with past practices.

Replacement Asset means (a) any Airframe or Aircraft Engine acquired in a Replacement Exchange by any Issuer Group Member from a Seller after the Initial Closing Date in accordance with Section 3.01(i) and 5.02(q), or (b) any Aircraft Engine replacing a prior Aircraft Engine pursuant to a Lease as provided in Sections 4.01 and 4.02 of Schedule 2.02(a) of the Servicing Agreement, but in each case, excluding any Airframe or Engine after it has been sold or disposed of by way of a completed Asset Disposition.

Replacement Asset has the meaning specified in Section 1014.

Replacement Asset shall have the meaning specified in Section 2.6(b)(ii).

Replacement Asset. With respect to any Collateral Change Event, any one or more of the following (as shall be identified in a Collateral Change Event Notice that satisfies the requirements of Section 3 hereof):

Replacement Asset any property acquired by the Borrower or any of its Subsidiaries subsequent to the Original Closing Date which replaces Obsolete Property of the same type and utility as the property acquired.

Replacement Asset shall have the meaning set forth in Section 9.14(a).