Synthetic Lease Transaction definition

Synthetic Lease Transaction means any transaction involving a synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product, where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP, and in respect of which transaction any Synthetic Lease Indebtedness is issued or incurred.

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Synthetic Lease Transaction means the transaction pursuant to the Synthetic Lease Participation Agreement and the Synthetic Lease Basic Documents whereby Midwest sells the Synthetic Lease Assets to the Synthetic Lease Trust and the Synthetic Lease Trust leases the Synthetic Lease Assets to Midwest under the Synthetic Lease.

Synthetic Lease Transaction means each of (a) the Participation Agreement dated as of May 12, 1995 among NatWest Leasing Corporation, Media Play Trust, Yasuda Bank and Trust Company, National Westminster Bank Plc, various other lenders and Media Play, Inc., and the Master Lease and other documents referred to therein and (b) the Participation Agreement dated as of March 31, 1994 among Musicland Retail, Inc., Shawmut Bank Connecticut, National Association, Kleinwort ▇▇▇▇▇▇ Limited, The Long-Term Credit Bank of Japan, Ltd., Chicago Branch, Credit Lyonnais Cayman Island Branch and The Fuji Bank, Limited, and the Master Lease and other documents referred to therein.

Examples of Synthetic Lease Transaction in a sentence

• In the case of a Synthetic Lease Transaction, such assignment may be made through and in connection with an assignment to the Agent of the Note Collateral.

• If either the Management Agreement or the Development Agreement terminates prior to Manager entering into a Synthetic Lease Transaction pursuant to Section 10.33 above, all of the rights, obligations and duties of Manager under this Loan Agreement and all other Loan Documents shall belong solely to and be the responsibility of Borrower.

• The Parties acknowledge and agree that Seller's representations and warranties in this Agreement with respect to the Purchased Assets that are the subject of the Synthetic Lease Transaction contemplate, and are cast as of the time period commencing immediately following, the transfer to Seller of all right, title and interest in, to and under the Purchased Assets that are the subject of the Synthetic Lease Transaction, which transfer shall in any event be effective no later than the Closing.

• In connection with a Synthetic Lease Transaction the collateral described in (b) and (c) above may be assigned through and in connection with the assignment to the Agent of the Note Collateral.

• The Borrowers may from time to time with the consent of the Lenders designate a Facility owned by a Borrower or a Synthetic Lease Transaction as an Eligible Project to be included in the Borrowing Base pursuant to the terms hereof.

• The Synthetic Lease Transaction subjects the Purchased Assets to various Liens and leases.

• No Synthetic Lessee will enter into a Synthetic Lease Transaction with more than one Synthetic Lessor unless the Agent determines to its satisfaction that such Synthetic Lease Transaction can be cross-defaulted.

• Without limiting the provisions of Section 2.1, Seller covenants and agrees that, on the terms and subject to the conditions set forth in this Agreement, Seller shall, at the Closing, sell, assign, convey, transfer and deliver to Purchaser all of Seller's right, title and interest in the Purchased Assets free and clear of any and all Liens and leases (other than Permitted Liens) resulting from or arising out of or in connection with the Synthetic Lease Transaction.

• The Agent shall also have received an endorsement to any title policy issued in connection with a Synthetic Lease Transaction each time there is an advance under an Assigned Note.

• The closing of the Synthetic Lease Transaction and the Credit Facility shall occur contemporaneously with the purchase by the U.S. Underwriters of the Initial U.S. Securities under this Agreement.

More Definitions of Synthetic Lease Transaction

Synthetic Lease Transaction means the synthetic lease transaction --------------------------- described in the Master Agreement dated as of April 24, 1998, among SuperRite Foods, Inc., the Borrower, Atlantic Financial Group, Ltd., the financial institutions parties thereto and SunTrust Bank, Atlanta.

Synthetic Lease Transaction has the meaning given to it in SECTION 6.15.

Synthetic Lease Transaction has the meaning given to it in Section 6.15.

Synthetic Lease Transaction means, collectively, the loan and lease transactions arising under the Participation Agreement, dated as of April 21, 1995, as amended, from time to time, among the Borrower, , and and the other Operative Documents described therein.

Synthetic Lease Transaction means a transaction whereby Optionee conveys or causes the conveyance of the PG&E Option Property (or any portion thereof) to a Synthetic Lease Lessor from which Optionee (or its affiliate) leases back the PG&E Option Property (or such portion thereof) from such Synthetic Lease Lessor pursuant to a lease which would be categorized under Generally Accepted Accounting Principles as an operating lease and which has the following characteristics: (i) the initial term of such lease is less than ten (10) years; and, (ii) at the expiration of the term of such lease, subject to any rights of the tenant to extend the term of the lease, the tenant would be required, at its sole election made not more than two (2) years prior to the expiration of the term of the lease, either to repurchase the property so leased and the improvements thereon for the Synthetic Lease Lessor's then outstanding loan balance or, acting as the Synthetic Lease Lessor's agent, to sell the property which is the subject of the lease to a third party and to guarantee to the Synthetic Lease Lessor any deficiency between the proceeds of such sale and the Synthetic Lease Lessor's then outstanding loan balance, up to a stipulated amount of deficiency.