Level 3 Assets definition

Level 3 Assets means, as to the Borrower, assets (a) whose fair market value has been determined using (1) unobservable inputs or (2) the advisor’s judgment about the assumptions that a market participant would use in pricing such asset, (b) whose fair market value has been determined using Level 3 inputs as defined by Accounting Standards Codification Topic 820 (f/k/a FASB No 157); or (c) classified as Level 3 in the Borrower’s notes to its financial statements.
View Source
Level 3 Assets means, as to the Borrower, assets (a) whose fair market value has been determined using (1) unobservable inputs or (2) the advisor's judgment about the assumptions that a market participant would use in pricing such asset, (b) whose fair market value has been determined using Level 3 inputs as defined by Accounting Standards Codification Topic 820 (f/k/a FASB No 157); or (c) classified as Level 3 in the Borrower's notes to its financial statements. "Lien" means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). "Loan" means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan or Swing Line Loan. "Loan Documents" means this Agreement, each Note, the Collateral Documents, and the Fee Letter. "Loan Notice" means a notice of (a) a Borrowing of Loans, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, in each case pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. "London Banking Day" means any day on which dealings in Dollar deposits are conducted between banks in the London interbank eurodollar market. "Material Adverse Effect" means (a) a material adverse change in, or a material adverse effect upon, the business, assets, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower; (b) an impairment of the ability of the Borrower to perform its material obligations under any Loan Document; (c) a material impairment of the rights and remedies of the Administrative Agent or any Lender under any Loan Document; (d) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document. "Maturity Date" means July 22, 2013. "Moody's" means ▇▇▇▇▇'▇ Investors Service, Inc. and any successor thereto. -15-N75013152.6
View Source
Level 3 Assets has the meaning prescribed by the FASB Fair Value Measurement (topic 820), as may be supplemented or amended from time to time.
View Source

Examples of Level 3 Assets in a sentence

  • The Company will not enter into an agreement to make Investments that are Level 3 Assets if, immediately after giving effect to such Investments on a pro forma basis, the aggregate value of all Level 3 Assets of the Company exceeds 30% of Total Assets.

  • Negative Covenants 23 Section 10.1. Transactions with Affiliates 23 Section 10.2. Merger, Consolidation, Etc 23 Section 10.3. Economic Sanctions, Etc 24 Section 10.4. Certain Other Restrictions 24 Section 10.5. No Subsidiaries 25 Section 10.6. Secured Debt 25 Section 10.7. Level 3 Assets 25 Section 11.

Related to Level 3 Assets

  • Portfolio Assets means all Loan Assets owned by the Borrower, together with all proceeds thereof and other assets or property related thereto, including all right, title and interest of the Borrower in and to:

  • Fixed Assets means Equipment and Real Estate.

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.

  • Replacement Assets means (1) non-current assets (including any such assets acquired by capital expenditures) that shall be used or useful in a Permitted Business or (2) substantially all the assets of a Permitted Business or the Voting Stock of any Person engaged in a Permitted Business that is or shall become on the date of acquisition thereof a Restricted Subsidiary of the Company.