FAS 140 definition
Examples of FAS 140 in a sentence
The Trustee shall have no obligation to determine whether or not any derivative financial instrument complies with FAS 140.
For so long as required under FAS 140, each Trust upon its creation is intended to be considered a “qualifying special purpose entity” under accounting principles generally accepted in the United States.
The Owner Trustee is hereby authorized to engage in the foregoing activities; provided, however, that neither the Owner Trustee nor officers of the Owner Trustee on behalf of the Trust shall have or exercise any powers not permitted of "Qualifying SPEs" (within the meaning of the Statement of Financial Accounting Standard No. 140 ("FAS 140")) under FAS 140 or any successor accounting standard thereto.
This definition of Transferor will be interpreted in a manner consistent with the requirements of FAS 140 and any other relevant authoritative accounting literature, as such requirements are applicable from time to time.
Notwithstanding the foregoing, the provisions in Section 3.10(b) shall not be amended, changed, altered or repeated so as to permit the Owner Trustee to change the permitted activities of the Trust set forth in Section II.3 of the Trust Agreement in a manner that would cause the Trust to cease to qualify as a "Qualifying SPE" under FAS 140 or any successor accounting standard thereto.
The revised accounting standards of FAS 140 are effective for transactions occurring after March 31, 2001.
FAS 140 revises certain standards for accounting for securitization and other transfers of financial assets and collateral.
In September 2000, the Financial Accounting Standards Board issued SFAS No. 140, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities--a replacement of FASB Statement No. 125" ("FAS 140").
The application of the revised accounting standards of FAS 140 has not had a material impact on the business, results of operations or financial condition of Extreme.
To the extent permitted by FAS 140, the Servicer's rights under this Section 12.02(a) may be exercised by any of its Affiliates, which may include the Transferor.