Unsecured Assets definition

Unsecured Assets means assets of a Person which are not subject to a Lien (other than Permitted Liens).
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Unsecured Assets means all assets of MIG, including Cash, other than the ITC Equity and the assets of ITC Cellular.
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Unsecured Assets has the meaning given to it in the EPHL Security Document.
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Examples of Unsecured Assets in a sentence

  • In connection with confirmation of the Plan, the Debtors and the Creditors’ Committee shall seek Bankruptcy Court approval of a reserve of Trust Units for contingent, disputed, and unliquidated claims at the ResCap Debtors, the GMACM Debtors, and the RFC Debtors (the “Disputed Claims Reserves”), so that the Liquidation Trust may make an initial distribution of the Available Unsecured Assets for allowed unsecured claims as soon as practical after the Effective Date.

  • Notwithstanding any other provision of this Deed, this Deed does not create, nor does it purport to create, any Security Interest over the Unsecured Assets.

  • Unsecured Public Debt Covenants March 31, 2004 ---------- Total Debt to Adjusted Total Assets (not to exceed 60%) 42.7% Secured Debt to Adjusted Total Assets (not to exceed 40%) 21.9% Consolidated Income Available For Debt Service To Maximum Annual Service Charges (must be at least 1.5 to 1) 2.87 Total Unsecured Assets to Unsecured Debt (must be at least 150%) 291.9% These covenants relate to ERP Operating Limited Partnership's outstanding unsecured public debt.

  • March 31, December 31, 2006 2005 ------------ ------------ Total Debt to Adjusted Total Assets (not to exceed 60%) 43.7% 44.9% Secured Debt to Adjusted Total Assets (not to exceed 40%) 20.3% 20.0% Consolidated Income Available For Debt Service To Maximum Annual Service Charges (must be at least 1.5 to 1) 2.68 2.84 Total Unsecured Assets to Unsecured Debt (must be at least 150%) 274.2% 261.4% These selected covenants relate to ERP Operating Limited Partnership's ("ERPOP") outstanding unsecured public debt.

  • None of the Borrower, the General Partner or any Subsidiary will agree to limits on Liens on Unsecured Assets of the Borrower, the General Partner or such Subsidiary, except as may otherwise be required pursuant to the terms of this Agreement.

  • Selected Unsecured Public Debt Covenants September 30, 2005 ------------- Total Debt to Adjusted Total Assets (not to exceed 60%) 42.1% Secured Debt to Adjusted Total Assets (not to exceed 40%) 20.7% Consolidated Income Available For Debt Service To Maximum Annual Service Charges (must be at least 1.5 to 1) 2.79 Total Unsecured Assets to Unsecured Debt (must be at least 150%) 298.8% These selected covenants relate to ERP Operating Limited Partnership's ("ERPOP") outstanding unsecured public debt.

  • The Sale Transaction means a sale of all or substantially all of the MIG’s assets, including, without limitation, the ITC Equity, other than the Unsecured Assets, or substantially all of the MIG’s assets, pursuant to a Final Order of the Bankruptcy Court pursuant to section 363 of the Bankruptcy Code.

  • Neither the Borrower nor any Subsidiary will agree to limits on Liens on Unsecured Assets of Borrower or such Subsidiary, except as may otherwise be required pursuant to the terms of this Agreement.


More Definitions of Unsecured Assets

Unsecured Assets has the meaning given to “Assigned Property” in the First Security Assignment.
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Related to Unsecured Assets

  • Secured Assets means (insert description of assets in respect of which charge/mortgage may be created) offered as security by the Client;

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Unsecured PHI or “PHI that is unsecured” means PHI that is not rendered unusable, 29 unreadable, or indecipherable to unauthorized individuals through the use of a technology or 30 methodology specified by the Secretary of Health and Human Services in the guidance issued on the

  • Unsecured Loan means any Loan other than a Secured Loan.

  • Unsecured Longer-Term Indebtedness means any Indebtedness for borrowed money of an Obligor that (a) has no amortization, or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be “amortization”, “mandatory redemption”, “repurchase”, “prepayment” or a “final maturity date” for purposes of this definition), (b) is incurred pursuant to documentation containing financial covenants, covenants governing the borrowing base, if any, and portfolio valuation, and events of default that are no more restrictive than those set forth in this Agreement, and other terms substantially comparable to market terms for substantially similar debt of other similarly situated borrowers as reasonably determined in good faith by the Borrower (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition), and (c) is not secured by any assets of any Obligor. For the avoidance of doubt, (a) Unsecured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Unsecured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Unsecured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.

  • Total Unsecured Indebtedness means, as of any date of determination, that portion of Total Indebtedness which does not constitute Total Secured Indebtedness.

  • Receivables Facility Assets means presently existing and hereafter arising or originated Accounts, Payment Intangibles and Chattel Paper (as each such term is defined in the Uniform Commercial Code in effect in the State of New York from time to time) owed or payable to any Participating Receivables Grantor, and to the extent related to or supporting any Accounts, Chattel Paper or Payment Intangibles, or constituting a receivable, all General Intangibles and other forms of obligations and receivables owed or payable to any Participating Receivables Grantor, including the right to payment of any interest, finance charges, late payment fees or other charges with respect thereto (the foregoing, collectively, being “receivables”), all of such Participating Receivables Grantor’s rights as an unpaid vendor (including rights in any goods the sale of which gave rise to any receivables), all security interests or liens and property subject to such security interests or liens from time to time purporting to secure payment of any receivables or other items described in this definition, all guarantees, letters of credit, security agreements, insurance and other agreements or arrangements from time to time supporting or securing payment of any receivables or other items described in this definition, all customer deposits with respect thereto, all rights under any contracts giving rise to or evidencing any receivables or other items described in this definition, and all documents, books, records and information (including computer programs, tapes, disks, data processing software and related property and rights) relating to any receivables or other items described in this definition or to any obligor with respect thereto, and all proceeds of the foregoing.

  • Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.

  • Subordinated Liabilities means liabilities subordinated to the Borrower's obligations to the Bank in a manner acceptable to the Bank in its sole discretion.

  • Security Assets means all of the assets of the Transaction Obligors which from time to time are, or are expressed to be, the subject of the Transaction Security.

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Permitted Unsecured Indebtedness Indebtedness of any Loan Party (a) that is not (and any Guarantees thereof by any Loan Party are not) secured by any collateral (including the Collateral), (b) that does not mature earlier than the date that is 91 days after the Latest Maturity Date then in effect at the time of incurrence thereof and has a weighted average life to maturity no shorter than the Facility of Term Loans with the Latest Maturity Date in effect at the time of incurrence of such Indebtedness, (c) that does not provide for any amortization, mandatory prepayment, redemption or repurchase (other than upon a change of control, fundamental change, customary asset sale or event of loss mandatory offers to purchase and customary acceleration rights after an event of default and, for the avoidance of doubt, rights to convert or exchange into Capital Stock of the Borrower in the case of convertible or exchangeable Indebtedness) prior to the date that is 91 days after the Latest Maturity Date then in effect at the time of incurrence thereof, (d) that contains covenants, events of default, guarantees and other terms that are customary for similar Indebtedness in light of then-prevailing market conditions (it being understood and agreed that such Indebtedness shall not include any financial maintenance covenants and that applicable negative covenants shall be incurrence-based to the extent customary for similar Indebtedness) and, when taken as a whole (other than interest rates, rate floors, fees and optional prepayment or redemption terms), are not more favorable to the lenders or investors providing such Permitted Unsecured Indebtedness, as the case may be, than those set forth in the Loan Documents are with respect to the Lenders (other than covenants or other provisions applicable only to periods after the Latest Maturity Date then in effect at the time of incurrence thereof); provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness or the modification, refinancing, refunding, renewal or extension thereof (or such shorter period of time as may reasonably be agreed by the Administrative Agent), together with a reasonably detailed description of the material terms and conditions of such resulting Indebtedness or drafts of the material definitive documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements shall be conclusive, and (e) that is not guaranteed by any Person other than on an unsecured basis by the Borrower and/or Restricted Subsidiaries that are Loan Parties.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Consolidated Unsecured Indebtedness means, at any time, the portion of Consolidated Total Indebtedness that is Unsecured Debt.

  • Secured Recourse Indebtedness means all Indebtedness (including Guaranties of Secured Indebtedness) that is Secured Indebtedness and is not Nonrecourse Indebtedness.

  • Permitted Receivables Facility Assets means (i) Receivables (whether now existing or arising in the future) of the Company and its Subsidiaries which are transferred or pledged to the Receivables Entity pursuant to the Permitted Receivables Facility and any related Permitted Receivables Related Assets which are also so transferred or pledged to the Receivables Entity and all proceeds thereof and (ii) loans to the Company and its Subsidiaries secured by Receivables (whether now existing or arising in the future) and any Permitted Receivables Related Assets of the Borrower and its Subsidiaries which are made pursuant to the Permitted Receivables Facility.

  • Unsecured Shorter-Term Indebtedness means, collectively, (a) any Indebtedness of an Obligor that is not secured by any assets of any Obligor and that does not constitute Unsecured Longer-Term Indebtedness and (b) any Indebtedness that is designated as “Unsecured Shorter-Term Indebtedness” pursuant to Section 6.11(a).

  • Total Unencumbered Assets means the sum of (i) those Undepreciated Real Estate Assets not subject to an Encumbrance for borrowed money and (ii) all other assets of the Company and its Subsidiaries not subject to an Encumbrance for borrowed money determined in accordance with GAAP (but excluding accounts receivable and intangibles).

  • Unencumbered Assets means assets which are not subject to a Security Interest.

  • Unsecured Debt means, for any Person, Indebtedness of such Person that is not Secured Debt.

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Priority Indebtedness means (a) Indebtedness of the Company or any Subsidiary (other than that described in Section 6.01(e)) secured by any Lien on any asset(s) of the Company or any Subsidiary and (b) Indebtedness of any Subsidiary, in each case owing to a Person other than the Company or any Subsidiary.

  • Senior Unsecured Indebtedness means Indebtedness that is not subordinated to any other Indebtedness and is not secured or supported by a guarantee, letter of credit or other form of credit enhancement.

  • Portfolio Assets means all Loan Assets owned by the Borrower, together with all proceeds thereof and other assets or property related thereto, including all right, title and interest of the Borrower in and to:

  • Fixed Assets means Equipment and Real Estate.