Revolving Asset definition

Revolving Asset means any Collateral Asset (other than a Delayed Draw Asset) that is a senior secured obligation (including funded and unfunded portions of revolving credit lines and letter of credit facilities, unfunded commitments under specific facilities and other similar loans and investments) that under the Underlying Instruments relating thereto may require one or more future advances to be made to the obligor by the Borrower; provided that such Collateral Asset shall be considered a Revolving Asset only until all commitments by the Borrower to make advances to the obligor thereof expire, or are terminated, or are irrevocably reduced to zero.

Revolving Asset means any Collateral:

Revolving Asset means any Collateral - (a) which is: (i) inventory; (ii) a negotiable instrument; (iii) machinery, plant, or equipment which is not inventory and has a value of less than AUD$1,000 or its equivalent; (iv) money (including money withdrawn or transferred to a third party from an account of the Customer with a bank or other financial institution); and - (b) in relation to which no Control Event has occurred, subject to clause 8.6.

Examples of Revolving Asset in a sentence

• Any inventory which is not, or ceases to be, a Revolving Asset is specifically appropriated to a security interest under this document.

• If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 3, the Secured Party may give the Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor.

• Each Borrowing of, or conversion to, Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or in the amount of the unused portion of the Commitments (or, in the case of any Borrowing to be applied to fund any draw under a Revolving Asset or Delayed Draw Asset, such other amount as may be required to fund such draw).

• If any Secured Property is not or ceases to be a Revolving Asset, and becomes subject to a fixed charge or transfer under clause 4.8, the Secured Party may give the Grantor a notice stating that, from a date specified in the notice, the Secured Property specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor.

• Any inventory which is not, or ceases to be, a Revolving Asset is specifically appropriated to the Security Interest under this Deed.

• Any Collateral of a Grantor that is inventory which is not, or ceases to be, a Revolving Asset is specifically appropriated to a security interest under this deed.

• If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 8, the Supplier may give the Customer a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Customer.

• Revolving Asset Master Trusts For revolving asset master trusts (such as master trusts involving credit card receivables, bridge loans for developers, and company receivables), investors may find it useful to receive material information regarding delinquencies, cumulative losses, prepayments, payment rate, yield, average payment term, and level of obligor concentration in separate increments based on the date of origination of the pool assets.

• PrincipalAmountValueUNITED STATES (continued)Other Asset-Backed Securities (continued)$1,534,387Bayview Financial Revolving Asset Trust, Series 2005-E, Class A1,(1 mo.

• If any inventory is not, or ceases to be, a Revolving Asset, it is specifically appropriated to a security interest under this document and the Grantor must not remove it without the prior written consent of the Secured Party.

More Definitions of Revolving Asset

Revolving Asset means in respect of a Grantor, any Secured Property of that Grantor:

Revolving Asset means any Collateral: (1) which is: (A) inventory; (B) a negotiable instrument; (C) machinery, plant or equipment which is not inventory and has a value of less than (AUD$1,000.00) or equivalent; (D) money (including money withdrawn or transferred to a third party from an account of the Grantor with a bank or other financial institution); and (2) in relation to which no Control Event has occurred, subject to clause 3.4 (“Conversion to Revolving Assets”)

Revolving Asset means any Goods which are inventory 19.2.If an Event of Default occurs then automatically the Goods

Revolving Asset means any Secured Property:

Revolving Asset means any Underlying Asset that is a loan (including, without limitation, revolving loans, funded and unfunded portions of revolving credit lines and letter of credit guarantee and bonding facilities, unfunded commitments under specific facilities and other similar loans and investments) that pursuant to theterms of its Underlying Instruments may require one or more future advances to be made to the borrower by the Issuer or payments under counter indemnities to funding or issuing lenders; but any such Underlying Asset will be a Revolving Asset only until all commitments to make advances to the borrower expire or are terminated or reduced to zero;

Revolving Asset means any part of the Collateral: