SPECIAL PURPOSE BANKRUPTCY definition

SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" means a corporation or limited liability company which at all times on and after the date hereof:
Sample 1Sample 2Sample 3
SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" shall have the meaning set forth on Schedule 5 hereto.
Sample 1Sample 2Sample 3
SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" is defined in SCHEDULE 6.8.
Sample 1

Examples of SPECIAL PURPOSE BANKRUPTCY in a sentence

  • A "SPECIAL PURPOSE BANKRUPTCY REMOTE ENTITY" shall have the meaning set forth on Schedule 5 hereto.

  • A "SPECIAL PURPOSE BANKRUPTCY REMOTE ENTITY" shall have the meaning set forth on Schedule 4 hereto.

  • A "SPECIAL PURPOSE BANKRUPTCY REMOTE ENTITY" shall have the meaning set forth on SCHEDULE 5 hereto.


More Definitions of SPECIAL PURPOSE BANKRUPTCY

SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" has the meaning set forth in Section 5.1(o).
Sample 1Sample 2
SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" - 5.13 "SPRINGING RECOURSE EVENT" - 10.1 "SUBACCOUNTS" - 3.1 "SUBSTITUTE TIC BORROWER" - 5.26.2 "SUCCESSOR BORROWER" - 2.3.3 "TAX AND INSURANCE SUBACCOUNT" - 3.3 "TIC BORROWERS" - 5.26.2
Sample 1
SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" - 5.13 "SPRINGING RECOURSE EVENT" - 10.1 "SUBACCOUNTS" - 3.1 "SUBSTITUTE TIC BORROWER" - 5.26.2 "SUCCESSOR BORROWER" - 2.3.3 "TAX AND INSURANCE SUBACCOUNT" - 3.3 "TENANT IMPROVEMENT RESERVE SUBACCOUNT" - 3.14 "TIC BORROWERS" - 5.26.2 "TIC OWNER" - 5.26.2 "TIC TRANSFER AND ASSUMPTION" - 5.26.2 "TOXIC MOLD" - 4.21 "TRANSFER AND ASSUMPTION" - 5.26.3 "TRANSFEREE BORROWER" - 5.26.3 "UNDERWRITER GROUP" - 9.1.3 "UNDERWRITERS" - 9.1.3
Sample 1
SPECIAL PURPOSE BANKRUPTCY. REMOTE ENTITY" means a corporation, limited partnership or limited liability company which (i) is organized solely for the purpose of (A) owning its Property or Properties or (B) acting as a general partner of the limited partnership that owns its Property or Properties or member of the limited liability company that owns its Property or Properties, (ii) will not engage in any business unrelated to (A) the ownership of its Property or Properties, (B) acting as general partner of the limited partnership that owns its Property or Properties or (C) acting as a member of the limited liability company that owns its Property or Properties, as applicable, (iii) will not have any assets other than those related to its Property or Properties or its partnership or member interest in the limited partnership or limited liability company that owns its Property or Properties, as applicable, (iv) will not engage in, seek or consent to any dissolution, winding up, liquidation, consolidation, merger, asset sale, transfer of partnership or membership interests other than Permitted Transfers (if such entity is a general partner in a limited partnership or a member in a limited liability company), or amendment of its limited partnership agreement, articles of incorporation, articles of organization, certificate of formation or operating agreement (as applicable), unless such amendment does not otherwise contravene any term, provision or condition of any of the Loan Documents and would not result in Borrower's or the General Partner's failure to be a Special Purpose Bankruptcy Remote Entity, and provided that Borrower shall promptly -------- furnish Lender with copies of any and all such amendments (regardless of whether Lender's consent to the same is required hereunder), (v) if such entity is a limited partnership, has, as its only general partners, Special Purpose Bankruptcy Remote Entities that are corporations, (vi) if such entity is a corporation, has at least one (1) Independent Director, and has not caused or allowed and will not cause or allow the board of directors of such entity to take any action requiring the unanimous affirmative vote of one hundred percent (100%) of the members of its board of directors unless an Independent Director shall have participated in such vote, (vii) if such entity is a limited liability company, has at least one member that is a Special Purpose Bankruptcy Remote Entity that is a corporation and such corporation is the managing member ...
Sample 1

Related to SPECIAL PURPOSE BANKRUPTCY

  • Special Purpose Bankruptcy Remote Entity shall have the meaning set forth on Schedule 5 hereto.

  • Special Purpose Financing means any financing or refinancing of assets consisting of or including Receivables of the Company or any Restricted Subsidiary that have been transferred to a Special Purpose Entity or made subject to a Lien in a Financing Disposition.

  • Special Purpose Investment Personnel means each SEI Access Person who, in connection with his or her regular functions (including, where appropriate, attendance at Board meetings and other meetings at which the official business of a Trust or any Fund thereof is discussed or carried on), obtains contemporaneous information regarding the purchase or sale of a Security by a Fund. Special Purpose Investment Personnel shall occupy this status only with respect to those Securities as to which he or she obtains such contemporaneous information.

  • Commercial Purposes means any commercial or profit generating purpose including the sale, lease of other transfer of the Material and includes uses of the Material by any organisation, including Recipient, to perform contract research, to produce or manufacture products for general sale, or to conduct research activities that result in any sale, lease, license, or transfer of the Material.

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • Special Purpose Entity means a direct or indirect subsidiary of Holdings, whose organizational documents contain restrictions on its purpose and activities and impose requirements intended to preserve its separateness from Holdings and/or one or more Subsidiaries of Holdings.

  • Special Purpose Subsidiary means any (a) not-for-profit Subsidiary, (b) captive insurance company or (c) Receivables Subsidiary and any other Subsidiary formed for a specific bona fide purpose not including substantive business operations and that does not own any material assets, in each case, that has been designated as a “Special Purpose Subsidiary” by the Borrower.

  • Special Purpose Financing Fees means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Special Purpose Financing.

  • Special purpose equipment means equipment which is used only for research, medical, scientific, or other technical activities. Examples of special purpose equipment include microscopes, x-ray machines, surgical instruments, and spectrometers.

  • Commercial purpose means the use of any part of a record or records, or information derived from records, in any form for sale, resale, or solicitation or advertisement for sales or services. For purposes of this definition, requests made by news media and non-profit, scientific, or academic organizations shall not be considered to be made for a "commercial purpose" when the principal purpose of the request is:

  • Special Purpose Financing Undertakings representations, warranties, covenants, indemnities, guarantees of performance and (subject to clause (y) of the proviso below) other agreements and undertakings entered into or provided by the Borrower or any of its Restricted Subsidiaries that the Borrower determines in good faith (which determination shall be conclusive) are customary or otherwise necessary or advisable in connection with a Special Purpose Financing or a Financing Disposition; provided that (x) it is understood that Special Purpose Financing Undertakings may consist of or include (i) reimbursement and other obligations in respect of notes, letters of credit, surety bonds and similar instruments provided for credit enhancement purposes, (ii) Hedging Obligations or other obligations relating to Interest Rate Agreements, Currency Agreements or Commodities Agreements entered into by the Borrower or any Restricted Subsidiary, in respect of any Special Purpose Financing or Financing Disposition, or (iii) any Guarantee in respect of customary recourse obligations (as determined in good faith by the Borrower, which determination shall be conclusive) in connection with any Special Purpose Financing or Financing Disposition, including in respect of Liabilities in the event of any involuntary case commenced with the collusion of any Special Purpose Subsidiary or any Affiliate thereof, or any voluntary case commenced by any Special Purpose Subsidiary, under any applicable bankruptcy law, and (y) subject to the preceding clause (x), any such other agreements and undertakings shall not include any Guarantee of Indebtedness of a Special Purpose Subsidiary by the Borrower or a Restricted Subsidiary that is not a Special Purpose Subsidiary.

  • Special Purpose Receivables Subsidiary means a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner intended to reduce the likelihood that it would be substantively consolidated with the Borrower or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law).

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Special Purpose Vehicle means a trust, partnership or other special purpose Person established by the Company and/or any of its Restricted Subsidiaries to implement a Qualified Receivables Transaction.

  • U.S. Bankruptcy Code means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors.

  • Applicable Insolvency Laws means all Applicable Laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances or other similar laws (including, without limitation, 11 U.S.C. Sections 544, 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code, as amended or supplemented).