B Assets definition
Examples of B Assets in a sentence
Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, PARTY A and PARTY B agree to exchange simultaneously the PARTY A Assets for the PARTY B Assets, free and clear of all Liens (except Permitted Liens) (the "Exchange").
The market value of Class A Assets plus the market value of Class B Assets will at all times be at least equal to 110% of (x) Policy-Related Liabilities minus (y) Policy-Related Assets at such time.
No more than 40% of the assets deposited in the trust may be Class B Assets.
Reference to PARTY A Assets shall be deemed to refer to the Assets of PARTY A, and reference to PARTY B Assets shall be deemed to refer to the Assets of PARTY B.
Nothing in this Loan Agreement shall preclude the Lender from repledging the Financed Assets that constitute Tranche B Assets, or with the consent of the SBA and subject to the Multiparty Agreement, Financed Assets that constitute Tranche B Assets, in each case, in accordance with applicable law, but in the case of Participation Interests, subject to the restrictions set forth in the related Participation Agreement.
Each Lender hereby irrevocably authorizes the Administrative Agent to execute and deliver such documents as the Loan Parties may reasonably request, and that are in form and substance acceptable to the Administrative Agent, for the purpose of confirming to the applicable purchaser that such Liens on the Disposition B Assets shall be released upon consummation of Disposition B in accordance with the conditions set forth in the Disposition B Certificate.
Each Lender hereby irrevocably authorizes the Administrative Agent to take such actions as the Administrative Agent deems necessary to release and terminate all Liens granted to or held by the Administrative Agent under the Loan Documents on the Disposition B Assets upon (x) the consummation of Disposition B and (y) the Administrative Agent’s receipt of the Net Cash Proceeds received from Disposition B.
Notwithstanding anything to the contrary contained in this Agreement, the Secured Creditors acknowledge and agree that they shall have no recourse against the Pledgor under this Agreement in respect of the Class B Assets (but, in the case of any Class B Assets constituting cash, only to the extent that such cash has been segregated from the other assets (including other cash) of the Pledgor).
In addition, the applicable Base SFRCA Number for each of the Class A Assets and Class B Assets shall be reset to the then-total market value of Single Family Residential Company Assets owned by Residential or the Surviving Entity in each of the asset classes, as applicable, on each 18-month anniversary of the Effective Date of the Amendment and Waiver Agreement.
In determining the Net Assets of a Series of Units, the same method shall be used as in determining the Net Assets of the Partnership, except as follows: Only the Series A Assets (in the case of the Series A Net Asset Value) or the Series B Assets, if any (in the case of the Series B Net Asset Value), etc.