Bailee Trust Receipt definition

Bailee Trust Receipt means a trust receipt issued by Bailee to Purchaser in accordance with and substantially in the form contained in Exhibit XII confirming the Bailee’s possession of the Purchased Asset Documents listed thereon.

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Bailee Trust Receipt. Defined in the Custodial Agreement, which definition is incorporated herein by reference.

Examples of Bailee Trust Receipt in a sentence

With respect to any Wet Purchased Asset, the related Bailee shall have issued to Purchaser a Bailee Trust Receipt.
With respect to any Wet Purchased Asset, the related Bailee shall have issued to Purchaser and Collateral Agent a Bailee Trust Receipt.
Seller shall inform Buyer as soon as commercially practicable of its request for any proposed Transaction to be entered into based on a Bailee Trust Receipt.
With respect to any Wet Purchased Asset, the related Bailee shall have issued to the applicable Purchaser and Realisation Agent a Bailee Trust Receipt.
With respect to any Wet Purchased Asset or any other Purchased Asset for which the related Seller has delivered a Bailee Letter in accordance with the terms of the Custodial Agreement, the related Bailee shall have issued to Purchaser a Bailee Trust Receipt.
On or before each Purchase Date, with respect to each Table Funded Purchased Loan, Seller shall cause the Bailee to deliver to the Custodian by facsimile the related Mortgage Note, the Bailee Agreement and the Bailee Trust Receipt issued thereunder.
With respect to any Wet Purchased Asset or any other Purchased Asset for which Seller has delivered a Bailee Letter, the related Bailee shall have issued to Purchaser a Bailee Trust Receipt.

More Definitions of Bailee Trust Receipt

Bailee Trust Receipt. A trust receipt, in the form of Attachment B to Exhibit E hereto, issued by the Bailee pursuant to the Bailee Agreement.

Bailee Trust Receipt means the trust receipt delivered by the Bailee pursuant to a Bailee Letter, substantially in the form of Attachment B to Annex 12 attached hereto.

Bailee Trust Receipt. Defined in Annex 13 attached hereto.

Bailee Trust Receipt means a trust receipt issued by Bailee to Purchaser in accordance with and substantially in the form contained in the Bailee Letter confirming the Bailee’s possession of the Purchased Asset Documents listed thereon. “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended from time to time, or any successor statute. “Business Day” shall mean a day other than (a) a Saturday or Sunday, or (b) a day in which the New York Stock Exchange or banks in the State of New York are authorized or obligated by law or executive order to be closed. “Breakage Costs” shall have the meaning specified in Article 27(b). “Capital Stock” shall mean any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent equity ownership interests in a Person which is not a corporation, including, without limitation, any and all member or other equivalent interests in any limited liability company, and any and all warrants or options to purchase any of the foregoing. “Capitalized Lease Obligations” shall mean, with respect to any Person, obligations of such Person to pay rent or other amounts under a lease of a property that are required to be capitalized for financial reporting purposes in accordance with GAAP. The amount of a Capitalized Lease Obligation is the capitalized amount of such obligation as would be required to be reflected on the balance sheet prepared in accordance with GAAP of the applicable Person as of the applicable date. 3 “Change of Control” shall mean the occurrence of any of the following events: (a) any “person” or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) shall become, or obtain rights (whether by means of warrants, options or otherwise) to become, the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of 49% or more of the total voting power of all classes of Capital Stock of Colony NorthStar Credit Real Estate, Inc., a Maryland corporation (“Colony”), entitled to vote generally in the election of the directors or such “person” or “group” obtains Control of Colony, (b) Colony shall cease to directly or indirectly own of record and beneficially at least 51% of the Capital Stock of Guarantor and Control Guarantor; (c) the Guarantor shall cease to indirectly own and Control, of record and beneficially, 100% of the Capital Stock of Pledgor; or

Bailee Trust Receipt. An initial trust receipt and certification substantially in the form attached hereto as Exhibit L.