Encumbered asset definition

Encumbered asset. – means an asset that is pledged to secure a loan, advance or other debt obligation such that the asset is no longer available to support liabilities to depositors and creditors. For purposes of capital calculations under this regulation, the amount to be deducted is the lesser of (i) the book value of the asset pledged or (ii) the outstanding balance of the loan secured by such asset.

Encumbered asset means an asset of the Borrower (other than assets related to software) having a fair market value not in excess of $1,750,000 which is subject to a purchase money security interest in favor of another lender.

Encumbered asset means, at any time, any asset of the Borrower or any Restricted Subsidiary, other than an RC Asset, that satisfies each of the following requirements at such time: (a) such asset shall be of a class set forth as an “Eligible Asset Class” on Schedule 1.01(c), (b) such asset shall be owned exclusively by the Borrower or any Restricted Subsidiary, (c) such asset shall be free and clear of all Liens (other than Permitted Liens) and (d) such asset shall be denominated in US dollars and any real property securing such asset shall be located in the United States.

Examples of Encumbered asset in a sentence

• Encumbered asset is an asset which has been pledged as collateral against an existing liability and as a result is no longer available to the Group for further collateral or liquidity requirements.

• Encumbered asset summary2021£’0002020£’000Encumbered cash and cash equivalents46,41932,136Unencumbered cash and cash equivalents105,16292,167Cash and cash equivalents151,581124,303 An asset is defined as encumbered if it has been pledged as collateral against an existing on or off-balance sheet liability, and as a result is no longer available to the Group to secure funding, satisfy collateral needs or be sold to reduce the funding requirement.

• In his rela- tionship to Jesus, Joseph was the earthly shadow of the Heavenly Father: he watched over Him and protected Him, never leaving Him to go His own way.” The pope then urged us to imitate this.

• However, to provide meaningful supplemental information regarding its performance, Meten EdtechX adopts the following measures which are defined as non-GAAP financial measures by the SEC: EBITDA: calculated by subtracting net interest income/loss and adding back income tax expense and non-cash expense of depreciation and amortization to a firm's net income/(loss).

More Definitions of Encumbered asset

Encumbered asset means tangible or intangible movable property that is subject to a security right;

Encumbered asset means a tangible or intangible movable asset that is subject to a security right. The term includes a receivable that is the subject of an outright transfer;

Encumbered asset means a tangible or intangible asset that is subject to a security right. The term also includes a receivable that has been the subject of an outright transfer;8

Encumbered asset shall have the meaning assigned to that term in Section 9.12(vii) hereof.

Encumbered asset means[: (i)] a movable asset that is subject to a security right; [and (ii) a receivable that is the subject of an outright transfer;]

Encumbered asset means an asset of the credit union which is subject to a legal claim of another party;

Encumbered asset means any Operating Property (a) located in the United States, (b) one hundred percent (100%) of which is owned directly or indirectly in fee simple by the Borrower or any of its Wholly-Owned Subsidiaries and (c) which, as of any date of determination, is subject to any Liens, claims, or restrictions on transferability or assignability of any kind (including any such Lien, claim or restriction imposed by the organizational documents of any subsidiary, any Negative Pledge clause, or any “equal and ratable” clause or similar provision that entitles an entity to a Lien on such asset upon the occurrence of any contingency), except that no Operating Property shall be an Encumbered Asset solely by virtue of being subject to (i) Permitted Encumbrances or Liens in favor of the Administrative Agent or (ii) customary restrictions on transferability that result in a change of control or that trigger a right of first offer or right of first refusal.