Approved Transferee means (a) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (b) an affiliate of the Funding Lender, or (c) a trust or custodial arrangement established by the Funding Lender or one of its affiliates the beneficial interests in which will be owned only by QIBs.
Approved Transferee means (a) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (b) an affiliate of the Funding Lender, or(c) a trust or custodial arrangement established by the Funding Lender or one of its Affiliates the beneficial interests in which will be owned only by QIBs.
Approved Transferee has the meaning set forth in Section 3(a).
Examples of Approved Transferee in a sentence
In the event of its loss of membership in the Bank, the Member shall make best efforts to transfer its obligations under all pending applications and this Agreement to an Approved Transferee prior to the Bank’s final disbursement of the subsidy.
If the Lead Securitization Note Holder so requests, the Original Entity or Approved Transferee holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified.
The offering is expected to close on June 30, 2021, subject to the satisfaction of customary closing conditions.
This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties hereto, including any Approved Transferee.
Provided that the aggregate number of Points held by a Club Member upon completion of any proposed partial transfer does not fall below the Minimum Holdings Requirement, a Club Member may directly assign his Club Points to an Approved Transferee in any quantity.
More Definitions of Approved Transferee
Approved Transferee means any Affiliate of the Holder who acquires Registrable Securities from the Holder.
Approved Transferee means any transferee of at least 25% of the outstanding Holdco Preferred Stock or 25% of the Registrable Securities.
Approved Transferee means (a) from and after the Closing Date, (i) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more,(ii) an Affiliate of the Funding Lender, (iii) a trust or custodial arrangement established by the Funding Lender or one of its Affiliates, in each case, the Funding Lender or an Affiliate thereof, as transferor represents in writing to the Fiscal Agent that either (A) all of the beneficial owners of such trust or custodial arrangement are QIBs or (B) all of the interests in such trust or custodial arrangement (other than residual interests retained by QIBs) are rated in the “A” category or higher by a Rating Agency; provided, however, that a single QIB shall at all times hold a controlling interest in the residual interests and such trust or arrangement shall be controlled by the Funding Lender or an Affiliate thereof, (iv) Fannie Mae, Freddie Mac, or another government sponsored enterprise which is also a QIB or an institutional accredited investor, as defined in Rule 501 promulgated under the Securities Act (an “Accredited Investor”), (v) CCRC or (vi) a nonprofit corporation or nonprofit organization, all of the shareholders in which, or members thereof, are QIBs, and which invests in obligations of the same type as the Governmental Lender Note as a principal aspect of its business; and (b) from and after the Conversion Date (i) the entities described in subsection (a) of this definition of “Approved Transferee,” (ii) a QIB having capital and surplus of $1,000,000,000 or more, (iii) a limited partnership or limited liability company or other entity in which CCRC or an Affiliate of CCRC is the sole managing general partner, managing member or manager in which all other partners or members, as applicable are banks, insurance companies or other financial institutions (or wholly controlled Affiliates thereof) which are also QIBs, (iv) any fund established and managed by CCRC or by a limited liability company in which CCRC is the sole member in which all investors or funders are banks, insurance companies or other financial institutions (or Affiliates thereof) which are QIBs, or (v) a commercial bank that is a member of CCRC.
Approved Transferee means another member of the Bank approved by the Bank in writing, such approval to be given or withheld in the exercise of the Bank’s reasonable discretion. Except as set forth in the preceding sentence, the Member is not permitted to assign or otherwise transfer its rights and obligations under any applications or this Agreement without the prior written consent of the Bank.
Approved Transferee means (a) (i) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (ii) an Affiliate of the Funding Lender, or (iii) a trust or custodial arrangement established by the Funding Lender or one of its Affiliates, in each case, the Funding Lender or an Affiliate thereof, as transferor, represents in writing to the Fiscal Agent that either (A) all of the beneficial owners of such trust or custodial arrangement are QIBs or (B) all of the interests in such trust or custodial arrangement (other than residual interests retained by QIBs) are rated in the “A” category or higher by a Rating Agency; provided, however, that a single QIB shall at all times hold a controlling interest in the residual interests and such trust or arrangement shall be controlled by the Funding Lender or an Affiliate thereof, or (iv) CCRC; and, in addition, (b) from and after Conversion, (i) QIBs having capital and surplus of $1,000,000,000 or more; (ii) an institutional accredited investor, as defined in Rule 501 promulgated under the Securities Act (an “Accredited Investor”); (iii) Affiliates of any Approved Transferee meeting the standard in (b)(i) or (ii) above and is a QIB or Accredited Investor; or(iv) Fannie Mae or Freddie Mac or a trustee on behalf of or for Fannie Mae or Freddie Mac.
Approved Transferee means (1) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act of 1933, as in effect on the date hereof (the “Securities Act”), that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more,
Approved Transferee means any Person that (a) is an Affiliate of any Class B Member, or (b) (i) (x) satisfies the requirements hereunder applicable to all Transfers of Class B Membership Interests and (y) is not a Competitor, or (ii) is a Person approved by Ormat (such approval not to be unreasonably withheld or delayed), in each case so long as Ormat or an Affiliate is a Class A Member.