Special Purpose Vehicle. Unless a Major Investor, Xxxxxxxxx agrees to abide by all the terms and conditions of the Special Purpose Vehicle as administered by the Lead Investor and understands acceptance of this condition may limit the purchaser’s rights as explained in the Special Purpose Vehicle contract available at: xxxxx://xxxx00x0xxxxx.xxxxxxxxxx.xxx/uploads/remote_files/246818- FPwne3dW1THluxDpTzgrai8c/SPV_Subscription_Agreement FINAL_.pdf. Purchaser has read and understands Purchaser’s rights shall be governed by the terms and conditions of the Special Purpose Vehicle.
Special Purpose Vehicle. (a) Each Obligor must not engage in any business, transaction or dealing other than as permitted under the Finance Documents, in relation to the Project and any business activities which are ancillary to such business.
Special Purpose Vehicle. The Borrower has not traded (on or after the New Ownership Date) or incurred any liabilities (on or after the New Ownership Date) other than in connection with its participation in the transactions contemplated in the Operative Documents.
Special Purpose Vehicle. The Company is a special purpose investment vehicle through which the Members indirectly hold interests in Holdings. In furtherance of the foregoing the Company shall not (i) acquire or hold any assets other than interests in Holdings and distributions from Holdings, along with any interest or earnings with respect to such amounts or (ii) without the consent of the Holdings Board of Directors, which consent shall not be unreasonably withheld, conditioned or delayed, voluntarily incur any liabilities other than reasonable expenses related to (a) holding interests in Holdings or the administration of the Company, (b) the amendment of this Agreement in accordance with the terms and conditions set forth in this Agreement or the performance of this Agreement, including taking any action approved in accordance with Section 3.1.2.8, or (c) complying with applicable laws (excluding, in the case of (a), (b) and (c), any payment to any officer, Director or manager of the Company or Holdings other than in a capacity as a Member or holder of Units or as expressly contemplated by this Agreement).
Special Purpose Vehicle. (i) Engage in any business or transactions, directly or indirectly, other than:
Special Purpose Vehicle. The Borrower and the Parent is each in compliance with Section 6.12 and the restrictions on its activities set forth in the Borrower LLC Agreement and the Parent LLC Agreement, respectively. 121
Special Purpose Vehicle. 2.1. Please indicate which factors prevent the company from being able to place a submission for the Project individually. …………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………
Special Purpose Vehicle. Also, called SPV is created for the purpose of executing the deal. Since issuer originator transfers all rights in assets to SPV, it holds the legal title of these assets. It is created especially for the purpose of securitization only and normally could be in the form of a company, a firm, a society or a trust. The main objective of creating SPV is to remove the asset from the Balance Sheet of Originator. Since SPV makes an upfront payment to the originator, it holds the key position in the overall process of securitization. Further, it also issues the securities (called Asset Based Securities or Mortgage Based Securities) to the investors.
Special Purpose Vehicle. Consortium partners shall form an appropriate Special Purpose Vehicle under the Indian Companies Act 1956/Companies Act, 2013 (the "SPV"), to get recognised as an AB/AA. However they shall directly hold 100% of the equity of the SPV throughout the tenure of recognition.
Special Purpose Vehicle. Except for the execution and delivery of this Agreement and the other Transaction Documents, neither the Parent nor the Buyer has conducted any business since its formation. Neither Representing Party has ever had any employees, consultants or independent contractors. Neither the Parent nor the Buyer is a member of or participant in any partnership, joint venture, limited liability company or similar entity. Other than the Buyer, the Parent has no Subsidiaries and does not own or control, directly or indirectly, any shares of capital stock of any other Person. The Buyer has no Subsidiaries and does not own or control, directly or indirectly, any shares of capital stock of any other Person.
