Illiquid Asset definition

Illiquid Asset means as of any date, any asset (i) for which there is no established public or private institutional trading market, such that such asset may be reasonably expected to be sold in such market within seven (7) days in the ordinary course of business at a price approximating the Asset Value of such asset on such date, subject only to fluctuations in the market price therefor, (ii) the fair market value of which is not readily ascertainable from recognized independent sources in the market for such assets or (iii) otherwise classified as an “illiquid security” by the Borrower or the Investment Adviser.

Illiquid Asset means an asset that may not be readily disposed of through market facilities on which public quotations are widely available, at an amount at least equal to the amount at which the asset is valued in calculating the net asset value, or a restricted security, the resale of which is prohibited for any reason;

Illiquid Asset. Any Portfolio Asset with respect to which either (a) the Collateral Manager (if no Event of Default has occurred and is continuing), (b) the Liquidation Agent (when exercising its rights to direct the disposition of such Portfolio Asset under Section 12.1(c)) or (c) the Trustee (when attempting to dispose of such Portfolio Asset pursuant to Article 5 and not at the direction of the Liquidation Agent pursuant to Section 12.1(c)) has made commercially reasonable efforts (or, in the case of (b), the Issuer or Trustee at the Liquidation Agent’s direction has made commercially reasonable efforts) to dispose of such Portfolio Asset for at least 90 days but has been unable to sell such Portfolio Asset and in the Liquidation Agent’s commercially reasonable judgment such Portfolio Asset is not expected to be saleable for the foreseeable future.

Examples of Illiquid Asset in a sentence

• If you change the group size, you must adjust the bank’s reserves, i.e. the Bank’s Initial Cash On Hand (£) and Bank’s Initial Investment in Illiquid Asset (£); you will almost certainly also wish to adjust the Number of Impatient (Type A) Investors.• Number of Impatient (Type A) Investors: the number of impatient investors in each group.

• If the Assets consist exclusively of Illiquid Assets, Eligible Investments and/or Cash, the Portfolio Manager may request bids with respect to each such Illiquid Asset as described below after providing notice to the Holders and requesting that any Holder that wishes to bid on any such Illiquid Asset notify the Trustee (with a copy to the Portfolio Manager) of such intention within 15 Business Days after the date of such notice.

• Transition Provisions for Illiquid Asset ClassesAn illiquid asset class will be considered “in transition”, if the allocation to that asset class has not yet achieved a Fund weighting equal to the benchmark allocation weight less 2%.

• On 26 January 2009, the Ministry of Finance and ING agreed to the Illiquid Asset Back-up Facility (IABF).

• Julia Sloth-Nielsen and Belinda Van Heerden (1998) ‘Putting Humpty-Dumpty Back Together Again: Towards Restructuring Families’ and Children’s Lives in South Africa’ South African Law Journal (115):156.

More Definitions of Illiquid Asset

Illiquid Asset. The meaning specified in Section 12.3.

Illiquid Asset means, as of any date, any asset for which (a) there is no established public or private institutional trading market, such that such asset may be reasonably expected to be sold in such market within seven (7) days in the ordinary course of business at a price approximating the Value of such asset on such date subject only to fluctuations in the market price therefor, (b) the fair market value of such asset is not readily ascertainable from recognized independent sources in the market for such assets, or (c) are otherwise categorized as “illiquid securities” by the Borrower or the Investment Manager. NEXPOINT CAPITAL, INC. CREDIT AGREEMENT

Illiquid Asset means an asset or security whose conversion to cash at fair market value is limited for a certain period of time.

Illiquid Asset means as of any date, any asset for which (a) there is no established public or private institutional trading market, such that such asset may be reasonably expected to be sold in such market within seven (7) days in the ordinary course of business at a price approximating the Asset Value of such asset on such date subject only to fluctuations in the market price therefor, (b) the fair market value of such asset is not readily ascertainable from recognized independent sources in the market for such assets or is not readily determinable using procedures approved by the Board of Trustees of the Borrower, or (c) are otherwise categorized as “illiquid securities” by the Borrower or the Investment Manager.

Illiquid Asset means, as of any date, any asset for which (a) there is no established public or private institutional trading market, such that such asset may be reasonably expected to be sold in such market within ten (10) days in the ordinary course of business at a price approximating the Value of such asset on such date subject only to fluctuations in the market price therefor, (b) the fair market value of such asset is not readily ascertainable from recognized independent sources in the market for such assets or is not readily determinable using procedures approved by the Board of Directors of the Borrower, or (c) are otherwise categorized as “illiquid securities” by the Borrower or the Investment Adviser.

Illiquid Asset means an asset that cannot be sold or disposed of by the Fund in the ordinary course of business within seven calendar days, at approximately the value ascribed to them by the Fund.

Illiquid Asset means an asset or Security whose conversion to cash at fair market value is limited for at least 45 days.