CDO Sale definition
CDO Sale means the sale, lease, exchange or other transfer by Gramercy and its direct and indirect subsidiaries of (i) all (or all but one) of the collateral management agreements and/or special servicing agreements (or Gramercy’s rights thereunder) with respect to the assets owned by the indirect subsidiaries of Gramercy that have issued CDO bonds that are outstanding as of the date hereof (the “CDO Entities”) or (ii) all or substantially all of their interests in (or the underlying assets of) all (or all but one) of the CDO Entities.
Examples of CDO Sale in a sentence
If a CDO Sale (as hereinafter defined) is consummated with the assistance of Employee on or before December 31, 2012, Gramercy will pay to Employee an additional $100,000 on the same date that Gramercy pays Employee the Guaranteed Bonus, less applicable deductions and withholding.