Transition Asset definition

Transition Asset means, at any time of determination, either (a) Property that was acquired by a Borrower or a Subsidiary within the period of 18 months occurring immediately preceding the date of determination and when acquired had an Occupancy Rate of less than seventy percent (70.0%) or (b) a Property identified by the Borrower Representative in a written notice (which may be by telecopy or electronic mail) to the Administrative Agent on which the existing building is undergoing a renovation or redevelopment that will result in at least thirty percent (30%) of the total gross leasable area of such building being unavailable for occupancy. A Transition Asset of the type described in clause (a) of this definition will cease to be a Transition Asset on the date that is 18 months after the date of the acquisition of such Property, and a Transition Asset of the type described in clause (b) of this definition will cease to be a Transition Asset upon all improvements related to the renovation or redevelopment having been completed for 18 months.
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Transition Asset means, at any time of determination, either (a) Property that was acquired by a Borrower or a Subsidiary within the period of six fiscal quarters most recently ended and when acquired had an Occupancy Rate of less than seventy percent (70.0%) or (b) a Property identified by the Borrower Representative in a written notice (which may be by telecopy or electronic mail) to the Administrative Agent on which the existing building is undergoing a renovation or redevelopment that will result in at least thirty percent (30%) of the total gross leasable area of such building being unavailable for occupancy. A Transition Asset of the type described in clause (a) of this definition will cease to be a Transition Asset immediately following the last day of the period of six fiscal quarters commencing with the fiscal quarter in which such Property was acquired, and a Transition Asset of the type described in clause (b) of this definition will cease to be a Transition Asset immediately following the last day of the period of six fiscal quarters commencing with the fiscal quarter in which all improvements related to the renovation or redevelopment were completed. A Transition Asset of the type described in clause (a) of this definition shall in no event be considered to be a Newly-Acquired Property.
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Transition Asset means, at any time of determination, either (a) Property that was acquired by a Borrower, a Subsidiary or an Unconsolidated Affiliate within the period of six fiscal quarters most recently ended and when acquired had an Occupancy Rate of less than seventy percent (70.0%) or
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Examples of Transition Asset in a sentence

  • The division between MPM and MSC of shared and other assets shall be effected in accordance with the Transition Asset Separation Principles set forth on Exhibit I.

  • On the applicable Subsequent Transfer Date for any Transition Assets, without the taking of any further action or the payment of additional consideration by any party hereto, all of the right, title and interest of IMS in and to any and all of such Transition Assets shall be assigned, transferred, conveyed and delivered to PGIO (who immediately thereafter shall contribute such Transition Asset to the Company), free and clear of all Liens except Permitted Liens.

  • Part I of Schedule 6.1.(f) is, as of the Agreement Date, a complete and correct listing of all Properties of each Borrower and each of their respective Subsidiaries, which also identifies any Property that is a Development Property or Transition Asset as such a Property.

  • Net Amortization Amounts: Transition (Asset)/ Obligation: The (excess asset) or unfunded liability for benefits attributed to credited service prior to the transition date - - amortized over 20 years.

  • In addition to the Board, EORLA is governed by a number of governance agreements with its member hospitals, including agreements on Membership, Service Levels, Human Resource Transition, Asset Transfer and Occupancy.

  • The Attorney General's calculations in support of his proposed adjustment indicate that Unrecognized Gains (and Losses), Unrecognized Transition Asset and Unrecognized Prior Service Cost should be included in the determination of the adjustment (Exh.

  • Upon the shutdown of any Transition Asset during the Term or any Renewal Term, such asset will cease to be a Transition Asset hereunder.

  • Without limiting the generality of the foregoing, during the Term of this Agreement and subject to Section 5.1, Seller shall continue to provide security services, insurance, permits, utilities, adequate staffing and reasonable maintenance for each Transition Asset on the same or substantially similar terms as existed prior to the Closing.

  • There are no judgments, orders, decrees, citations, fines or penalties heretofore assessed against HBDC or any of its Subsidiaries affecting the Business, any Transition Policy or any Transition Asset under any federal, state, local or foreign law.

  • Vested$ 901,173Non-Vested5,547Total906,720Effect of Future Salary Progression33,204Pension Benefit Obligation$ 939,924BPensionCost Components Service Cost$ 97,061 Interest Cost70,170 Actual Return on Plan Assets Amortization of Unrecognized PriorService Costs( 126,665) 12,209 Net Amortization and Deferral64,565 Amortization of Transition Asset( 8,491) $ 108,849 HOROWITZ, COLEMAN, WALDMAN & CO .ROBE CO., INC.NOTES TO FINANCIAL STATEMENTS NOTE I -PENSION AND PROFIT SHARING PLANS-(continued) C.

Related to Transition Asset

  • Transition Property means the property right created by a financing order, including without

  • Transition Services Agreement means the transition services agreement substantially in the form attached hereto as Exhibit B.

  • Transferred Asset means each asset, including any Loan Asset and Substitute Loan Asset (including, if any, the Participation thereof), Conveyed by the Seller to the Purchaser hereunder, including with respect to each such asset, all Related Property; provided that the foregoing will exclude the Retained Interest and the Excluded Amounts.

  • SOFR Benchmark Transition Event means the occurrence of a Benchmark Transition Event with respect to the then-current Benchmark;

  • Transition Date means the date on which this contract comes into effect for all purposes.

  • Bondable transition property means the property consisting of

  • Transition Services Agreements has the meaning set forth in Section 7.01(h).

  • Transition means the:

  • Toll Billing Exception Service (TBE means a service that allows End Users to restrict third number billing or collect calls to their lines.

  • Service Transfer Date means the date of a Service Transfer;

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Transition Services means a coordinated set of activities for a child with a disability that:

  • long term specified asset means any bond, redeemable after three years and issued on or after the 1st day of April 2006:

  • Transitional Services Agreement shall have the meaning ascribed in Section 6.12.

  • Contract Transition Period means the 90 day transition as defined in Section F of this Contract.

  • Basic generation service transition costs means the amount by

  • Transition Period means the period beginning with the Registration Date and ending as of the earlier of: (i) the date of the first annual meeting of stockholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the Registration Date occurs; and (ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2).

  • Employee Transfer Date means in respect of any particular Transferring Employee the date on which the part of the Services to which they are assigned transfers from the Previous Contractor to the Contractor;

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay the customer's share of transition costs.

  • Additional Servicing Compensation means any servicing compensation (other than Servicing Fees, Special Servicing Fees, Workout Fees or Liquidation Fees) that any Servicer is entitled to retain under the Servicing Agreement.

  • Gender transition means the process of a person changing the person's outward appearance or sex characteristics to accord with the person's actual gender identity.

  • Transitional Services means services involving technical or specialized knowledge required to complete a project or to provide temporary consulting services to the City.

  • Primary Servicing Agreement means the agreement between the Primary Servicer and the General Master Servicer, dated as of March 1, 2007, under which the Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Interim Servicing Period The period from the Closing Date to the related Servicing Transfer Date.