Divested Interest definition

Divested Interest means, (a) with respect to first Divesting Event (i.e., the Final Adjustment, as defined in the Agreement, the portion (expressed as a percentage of the total one hundred percent fee ownership interests in and to the Property) of the WEPCo Determinable Fee that determines, defeases and divests to Wolverine, and (b) with respect to the second Divesting Event (i.e., the Final True-Up, as defined in the Agreement) the portion (expressed as a percentage of the total one hundred percent fee ownership interests in and to the Property) that determines, defeases and divests to Wolverine or WEPCo, as the case may be, which portion, in such case, shall be equal to the amount necessary to result in WEPCo owning, after the occurrence of such Divesting Event, the ownership interest determined pursuant to Paragraph 4 of this Deed and in Wolverine owning, after the occurrence of such Divesting Event, the percentage ownership interest determined pursuant to Paragraph 5 of this Deed. Any defeasance or divestiture to Wolverine pursuant to the Wolverine Executory Interest shall serve to increase the Wolverine Determinable Fee and correspondingly reduce the percentage interest of the WEPCo Determinable Fee, and any defeasance or divesture to WEPCo pursuant to the WEPCo Executory Interest shall serve to increase the WEPCo Determinable Fee and correspondingly reduce the Wolverine Determinable Fee.
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Related to Divested Interest

  • Vested Interest means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • REO Imputed Interest As to any REO Property, for any calendar month during which such REO Property was at any time part of REMIC I, one month's interest at the applicable Net Mortgage Rate on the Stated Principal Balance of such REO Property (or, in the case of the first such calendar month, of the related Mortgage Loan, if appropriate) as of the close of business on the Distribution Date in such calendar month.

  • Imputed Interest means any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer’s payment obligations under this Agreement.

  • related interest means (1) a company (other than an insured bank or a foreign bank) that is controlled by an executive officer, director, or principal shareholder or (2) a political or campaign committee that is controlled by or the funds or services of which will benefit an executive officer, director, or principal shareholder. See Section 215.11(a)(2) of