valid interest definition

valid interest means an arrangement that the general manager determines is of a satisfactory duration and that will give the licensee a degree of control over the establishment or proposed establishment that will allow the licensee to comply with the requirements relating to establishments set out in the Act, its regulations and the terms and conditions of the licence.
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Related to valid interest

  • Unpaid Interest means, on any Distribution Date with respect to any Class of Interests or Certificates (other than the Residual Certificates), the portion of Distributable Certificate Interest for such Class remaining unpaid as of the close of business on the preceding Distribution Date, plus one month's interest thereon at the applicable Pass-Through Rate.

  • Compound Interest shall have the meaning set forth in Section 4.1.

  • Month End Interest As defined in each Servicing Agreement.

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Compounded Interest shall have the meaning set forth in Section 4.1.