Ineligible Asset definition

Ineligible Asset means an asset that fails to satisfy the Eligibility Criteria upon the acquisition of such asset.

Ineligible Asset means a Schedule 2 Asset that does not meet the Asset Eligibility Criteria set forth on Schedule 3.

Ineligible Asset means, on the earlier to occur of (i) the CLO Takeout and (ii) the date of the final offering memorandum with respect to the Offering, any Asset that does not satisfy the eligibility criteria set forth in the Borrower’s indenture (or similar agreement) governing the issuance of the CLO Securities expected to be dated as of the CLO Takeout.

Examples of Ineligible Asset in a sentence

• The Insurers will, if needed, further update Schedule 2 to reflect the removal of any asset that is determined to be an Ineligible Asset [***] and [***] is returned to the Plan Trust in accordance therewith.

• The remaining notes are expected to come from Master Asset Vehicle 3 (MAV3) in the form of Ineligible Asset Tracking (IA Tracking) notes which represent 16% of the new notes EPCOR expects to receive.

• By written notice to the other party on or before the fifth Business Day following the Closing Date, Council or an Insurer may identify as an Ineligible Asset any asset that was transferred to such Insurer as part of the applicable Closing Date Transfers, and such parties will work in good faith for seven (7) Business Days following the receipt of such notice to agree on which, if any, assets constituting part of the applicable Closing Date Transfers are Ineligible Assets.

• The Company also received US$1.0 million of notes referred to as Ineligible Asset Tracking Notes, which intent is to track the performance and repayment of the related underlying assets in certain conduits that have significant exposure to US residential mortgage market.

• OTHER LONG-TERM INVESTMENTS (Continued) • $4.8 million is represented by assets that have an exposure to U.S. mortgages and sub- prime mortgages and the Company on restructuring will receive Ineligible Asset (IA) Tracking long-term floating rate notes.

More Definitions of Ineligible Asset

Ineligible Asset. (i) any Purchased Asset that at any time Buyer determines is not an Eligible Asset as a result of any representation, warranty (other than MTM Representations) or material information made or provided by Seller or Guarantor being false or misleading at the time such representation or warranty was made or such material information was provided;

Ineligible Asset means (a) any equity security or any other interest or security that is not eligible for purchase by a Borrower Entity under the Transaction Documents, whether or not received with respect to a Collateral Obligation, or (b) any interest or security purchased as part of a “unit” with a Collateral Obligation and that itself is not eligible for purchase by a Borrower Entity under the Transaction Documents.

Ineligible Asset has the meaning specified in Section 2.6(b)(vi).

Ineligible Asset means a Collateral Obligation that is not an Eligible Collateral Obligation.

Ineligible Asset. As defined in Section 2.7(b) of the Sale and Servicing Agreement.

Ineligible Asset means any Collateral Debt Security that

Ineligible Asset means a Purchased Asset that does not satisfy the Eligibility Criteria, the representations and warranties set forth on Schedule 1 hereto or the eligibility criteria expected to be set forth in the indenture to be entered into in connection with a CDO Transaction, as determined by Buyer.