Flips Sample Clauses

The "Flips" clause defines the conditions and procedures under which the ownership structure of a company may be reorganized, typically by converting from one type of legal entity to another or by moving the parent company to a different jurisdiction. In practice, this clause outlines the steps required for such a restructuring, including necessary approvals from stakeholders and compliance with legal requirements. Its core function is to provide a clear framework for executing a corporate flip, thereby reducing uncertainty and ensuring all parties understand their rights and obligations during the process.
Flips. No intercompany transactions including JPE or any Subsidiary or between Subsidiaries and no related party transactions between any shareholder or any affiliate thereof increased the recorded net book value of any asset of JPE or any Subsidiary (including in anticipation of, or in connection with, this Transaction).
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Flips. Refinances: and Straw-buyers. “MANAGER” agrees not to finance loans secured by properties, which have been sold within the previous six (6) months. This practice is known as “flips” and is becoming grounds for repurchase by mortgage investors. “MANAGER” agrees to not participate in or finance this practice. If this practice occurs in “MANAGER’S” branch, “MANAGER” agrees to pay any cost associated with this prohibited arrangement. “MANAGER” agrees to not finance any real estate where the borrower is used only for his/her credit on investment property and does not plan to actively participate in the management or payment of the loan. This person and practice is called a “Straw-buyer”. The “MANAGER” agrees to not knowingly finance any party or be apart of this prohibited practice. “MANAGER” agrees not to solicit for refinance any property financed through “AMSTAR” for a period of one year after closing the loan with “AMSTAR” or its investors.
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Flips. Except for any charges for Development Hours associated with AD Services under Article 11 that are required to perform the Services for the Designated Accounts in accordance with specific RCSI customer requirements, there shall be ***charge for any Flips, including Internal Flips and GECF-A Flips. For the avoidance of doubt, First Data’s efforts to develop, test, implement and run the mapping and/or conversion programs and perform Services to perform the Flips are *** as Development Hours.
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Flips. Except for any Charges for Development Hours associated with AD Services under Article 12 that are required to perform the Technology Services for the Designated Accounts in accordance with specific RFS customer requirements, there shall be *** for any Flips. For the avoidance of doubt, First Data’s efforts to develop, test, implement and run the mapping and/or Conversion programs and perform Services to perform the Flips are *** as Development Hours. “
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