Synthetic Assets Sample Clauses

Synthetic Assets. (a) The Issuer shall ensure that each Synthetic Asset provides that, in the event that either the short-term unsecured debt rating of the related Synthetic Asset Counterparty, or the long term senior unsecured debt rating of the related Synthetic Asset Counterparty, has been downgraded below the Synthetic Asset Counterparty Collateral Threshold Ratings, such Synthetic Asset Counterparty shall be required to notify the Trustee, the Issuer and the Collateral Manager of such downgrade and such Synthetic Asset Counterparty shall be required within 30 days of the date of such downgrade (and at is own expense) to (i) post collateral to the Synthetic Asset Counterparty Collateral Account in an amount set forth in the related Synthetic Asset or otherwise sufficient to satisfy the Rating Agency Condition, (ii) assign the related Synthetic Asset to a replacement Synthetic Asset Counterparty which satisfies the Synthetic Asset Counterparty Collateral Threshold Ratings and the Rating Agency Condition or (iii) obtain a guarantor of its obligations under the Synthetic Asset which satisfies the Synthetic Asset Counterparty Collateral Threshold Ratings or provide such other alternative credit support which satisfies the Rating Agency Condition. In general, during the term of each Synthetic Asset, in the event either the short term unsecured rating of the related Synthetic Asset Counterparty or the long term unsecured debt rating of the related Synthetic Asset Counterparty has been withdrawn by any Rating Agency or has been downgraded below the Synthetic Asset Counterparty Required Ratings, such Synthetic Asset Counterparty will be required to notify the Trustee, the Issuer and the Collateral Manager of such withdrawal or downgrade and, within the time set forth in the Synthetic Asset (and at its own expense), assign the related Synthetic Asset to a replacement Synthetic Asset Counterparty which satisfies the Synthetic Asset Counterparty Collateral Threshold Ratings and the Rating Agency Condition. Each Synthetic Asset entered into or acquired by the Issuer (other than a Form-Approved Synthetic Asset) will be subject to satisfaction of the Rating Agency Condition and any Synthetic Asset entered into with a Synthetic Asset Counterparty shall meet the current ratings requirements then in effect.
Sample 1
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Related to Synthetic Assets

  • Synthetic Lease Any lease of goods or other property, whether real or personal, which is treated as an operating lease under GAAP and as a loan or financing for U.S. income tax purposes.

  • Lease Obligations The Company shall not, and shall not suffer or permit any Subsidiary to, create or suffer to exist any obligations for the payment of rent for any property under lease or agreement to lease, except for:

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Net Tangible Assets Acquiror shall have at least five million one dollars ($5,000,001) of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act) remaining after the Offer.

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • Eligible Assets The Fund shall only make investments in the Eligible Assets as described on Exhibit B, as amended from time to time with the prior written consent of Xxxxx Fargo, in accordance with the Fund’s investment objectives and the investment policies set forth in the Offering Memorandum, as such investment objectives and investment policies may be modified in accordance with the 1940 Act and applicable law and, if applicable, the Related Documents.

  • Tangible Assets The Target owns or leases all buildings, machinery, equipment, and other tangible assets necessary for the conduct of its business as presently conducted and as presently proposed to be conducted. Each such tangible asset is free from defects (patent and latent), has been maintained in accordance with normal industry practice, is in good operating condition and repair (subject to normal wear and tear), and is suitable for the purposes for which it presently is used and presently is proposed to be used.

  • Capitalized Lease Obligations Sale and Leaseback Transactions, export credit facilities with a maturity of at least one year and Purchase Money Indebtedness of, including Guarantees of any of the foregoing by, the Issuer and/or any Restricted Subsidiary, in an aggregate principal amount at any one time outstanding not to exceed U.S.$1 billion;

  • Development Obligations You agree to do each of the following:

  • Funded Debt No Borrower Party will, or will permit any of its Subsidiaries to, create, assume, incur, or otherwise become or remain obligated in respect of, or permit to be outstanding, any Funded Debt except:

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