Settlement Assets definition

Settlement Assets means any cash, receivable or other property, including a Settlement Receivable, due or conveyed to a person in consideration for a Settlement made or arranged, or to be made or arranged, by such person or an Affiliate of such person.

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Settlement Assets means in the case of each of the Issuer or any of its Subsidiaries:

Settlement Assets has the meaning given to that term in the Senior Facilities Agreement or any other similar or equivalent provision of any of the Secured Debt Documents.

Examples of Settlement Assets in a sentence

• The Administrative Agent agrees to promptly file UCC financing statement amendments (collectively, the “UCC Amendments”) to evidence the release of the security interest in and Lien on the Settlement Assets and will provide to the Borrower a copy of the acknowledgments of the filing of such UCC Amendments promptly upon receipt by the Administrative Agent.

• The Administrative Agent and each Lender hereby consent to the execution by the Borrower and PDHC of the Settlement Agreement and consent to the terms and provisions thereof; provided, however, that the agreements, documents and instruments to be entered into to effectuate the transfer of the Settlement Assets (as defined below) (the “Transfer Documents”) shall be in form and substance reasonably satisfactory to the Administrative Agent.

• Pursuant to the Settlement Agreement, the Borrower and PDHC have agreed to transfer the operating assets owned by PDHC and currently located at the PDG Offices (as defined in the Settlement Agreement) (collectively, the “Settlement Assets”) to PDG, all of which Settlement Assets constitute Collateral.

• The above, collectively, shall be referred to as the “Settlement Assets.” The Settlement Assets shall include an assignment of any insurance policies and any proceeds and unearned premiums arising from the Settlement Assets.

• Defendants make no warranty or guaranty regarding the results of any sale of the Settlement Assets by the United States or any of its agents.

• Pursuant to the Settlement Agreement, the Borrower and PDHC have agreed to transfer the Settlement Assets to PDG, all of which Settlement Assets constitute Collateral.

• HII shall reimburse New NGC for any Settlement Assets of NGC accruing to HII under Section 8.7(c) above upon presentation of documentation deemed adequate by HII and New NGC.

• If any Defendant does not pay the United States any portion of the Settlement Amount on a payment due date or by an otherwise required date, or fails to surrender, transfer, release, and assign all of their interests in the Settlement Assets, or otherwise materially fail to comply with their obligations under this Agreement, within ten (10) business days of the date on which any such payment or compliance is due, Defendants shall be in default of this Agreement (Default).

• HII is responsible for the settlement of and the consequences of any Settlement Assets or Settlement Liabilities associated with costs and pricing incurred prior to the Distribution by the Shipbuilding Business for government contracts, including those arising from Allowable Cost Audits for work in support of other NGC entities, but not including those Settlement Assets and Settlement Liabilities covered by Section 8.7(c).

• HII shall reimburse New NGC for any Settlement Assets of NGC accruing to HII under Section 8.7(c) upon presentation of documentation deemed adequate by HII and New NGC.

More Definitions of Settlement Assets

Settlement Assets means all assets of the Borrower and its Subsidiaries held for the payment of outstanding Payment Service Obligations, including cash and cash equivalents, accounts receivable and Portfolio Securities (or substantially equivalent categories or any other assets otherwise designated by the Borrower for the payment of Payment Service Obligations and, in each case, which are classified and defined as settlement assets in the Borrower’s latest Annual Report on Form 10-K under the Exchange Act, and if the Borrower is not subject to the reporting requirements of Section 13(a) or Section 15(d) of the Exchange Act, the Borrower’s most recent audited financial statements).

Settlement Assets means the assets to be delivered by Ventrillion to CAM pursuant to the terms of Clause 3 of this Agreement; and

Settlement Assets means the operating assets owned by PDHC, Ltd. and currently located at the PDG Offices (as defined in the Settlement Agreement) that are required to be transferred pursuant to the Settlement Agreement.”

Settlement Assets means any cash, receivable or other property, including a Settlement Receivable, due or conveyed to a person in consideration for a Settlement made or arranged, or to be made or arranged, by such person or an Affiliate of such person. “Settlement Obligations” shall mean any payment or reimbursement obligation in respect of a Settlement Payment. For the avoidance of doubt, Settlement Obligations shall not include Indebtedness for borrowed money. “Settlement Lien” shall mean any Lien relating to any Settlement or Settlement Obligations (and may in- clude, for the avoidance of doubt, the grant of a Lien in or other assignment of a Settlement Asset in consideration of a Settlement Payment, Lien securing intraday and overnight overdraft and automated clearinghouse exposure, and similar Liens) “Settlement Payment” shall mean the transfer, or contractual undertaking (including by automated clearing- house transaction) to effect a transfer, of cash or other property to effect a Settlement. “Settlement Receivable” shall mean any general intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a person in consideration for and in the amount of a Settlement made or arranged, or to be made or arranged, by such person. “Similar Business” shall mean the businesses engaged in by Parent and the Subsidiaries as of the Closing Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, de- velopment or expansion thereof or ancillary thereto. “SOFR” shall mean a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator. “SOFR Administrator” shall mean the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate). “SOFR Borrowing” shall mean a Borrowing comprised of SOFR Loans.

Settlement Assets means collectively the ▇▇▇▇▇▇▇▇▇ Settlement Assets, Estate Settlement Assets, Controlled Entities Settlement Assets, ▇▇▇▇▇▇▇ Settlement Assets and the CX Solutions Assets (if any).

Settlement Assets means settlement amounts due from financial institutions that are members of the card associations and debit networks.