New Non-Consolidation Opinion definition

New Non-Consolidation Opinion means a substantive non-consolidation opinion provided by outside counsel acceptable to Lender and the Rating Agencies and otherwise in form and substance acceptable to Lender and the Rating Agencies.

New Non-Consolidation Opinion means a bankruptcy non-consolidation opinion from the counsel to Borrower and Operating Lessee that delivered the Non-Consolidation Opinion or other outside counsel to Borrower and Operating Lessee reasonably acceptable to Lender, in form and substance satisfactory to Lender and, after a Securitization, the Rating Agencies, and which is required to be delivered subsequent to the Closing Date pursuant to, and in connection with, this Agreement.

New Non-Consolidation Opinion means a bankruptcy substantive non-consolidation opinion, provided by outside counsel, meeting Rating Agency Criteria and otherwise reasonably acceptable to Agent.

Examples of New Non-Consolidation Opinion in a sentence

• Notwithstanding anything to the contrary contained herein or in the other Loan Documents, Lender’s receipt of a New Non-Consolidation Opinion shall be a condition precedent to any appointment of an Affiliated Manager (defined below) as Manager for the Property.

• Payments to which Water Service is committed during 2005-06, analysed by the period during which the commitment expires, are as follows: 2004-05 2003-04 £000 £000 Expiry within 1 year--Expiry within 2 to 5 years--Expiry within 6 to 10 years--Expiry within 11 to 15 years--Expiry within 16 to 20 years2,400-Expiry within 21 to 25 years - 2,400 2,400 2,400 27.

• If at any time, the then-outstanding Aggregate PIP Work Costs equal or exceed ten percent (10%) of the then-outstanding principal balance of the Loan, upon Lender’s request, Borrower shall deliver, at Borrower’s sole cost and expense, a New Non-Consolidation Opinion.

• If the Borrower is unable to deliver a New Non-Consolidation Opinion in accordance with the immediately preceding sentence, Borrower shall cause Mortgage Borrower to deposit into the PIP Reserve Account an amount equal to the amount by which the then-outstanding Aggregate PIP Work Costs equal or exceed ten percent (10%) of the then-outstanding principal balance of the Loan.

• Lender’s consent (not to be unreasonably withheld, conditioned or delayed) shall be required with respect to any Sale or Pledge of any Affiliated Manager over which Borrower, any SPE Component Entity and/or their respective Affiliates has Control, which consent may be conditioned upon receipt of a New Non-Consolidation Opinion to the extent such Sale or Pledge is to an Affiliate of Borrower, any SPE Component Entity and/or Guarantor.

More Definitions of New Non-Consolidation Opinion

New Non-Consolidation Opinion means a substantive non-consolidation opinion provided by outside counsel to Borrower that is reasonably acceptable to Lender and, after a Securitization, acceptable to the Rating Agencies and otherwise in form and substance reasonably acceptable to Lender and, after a Securitization, acceptable to the Rating Agencies. For the avoidance of doubt, a New Non-Consolidation Opinion may contain the same exclusions regarding the Completion Guaranty and the Unfunded Obligation Guaranty as made in the Non-Consolidation Opinion.

New Non-Consolidation Opinion. As defined in the Mortgage Loan Agreement.

New Non-Consolidation Opinion. Any non-consolidation opinion required to be delivered after the Origination Date pursuant to the Mortgage Loan Agreement.

New Non-Consolidation Opinion means a substantive non-consolidation opinion provided by outside counsel reasonably acceptable to Lender and acceptable to the Rating Agencies or a bring down of or an update to the Non-Consolidation Opinion and, in either case, otherwise in form and substance reasonably acceptable to Lender and acceptable to the Rating Agencies.

New Non-Consolidation Opinion means a bankruptcy substantive non-consolidation opinion provided by outside counsel, in a form reasonably acceptable to Lender (with it being acknowledged that the Law Offices of Xxxx X. Xxxxx P.C. is an acceptable issuer of such opinion).

New Non-Consolidation Opinion means a substantive non-consolidation opinion provided by outside counsel acceptable to Lender and the Rating Agencies and otherwise in form and substance acceptable to Lender and the Rating Agencies. “Non-Consolidation Opinion” shall mean any substantive non-consolidation opinion delivered to Lender in connection with the Loan (including, without limitation, that certain substantive non-consolidation opinion delivered to Lender by Xxxxxxxxx Xxxxx Xxxxxx Xxxxx Xxxxxx P.A. in connection with the closing of the Loan). “Note” shall mean that certain Promissory Note of even date herewith in the principal amount of $120,000,000.00, made by Borrower in favor of Lender, as the same may be amended, restated, replaced, extended, renewed, supplemented, severed, split, or otherwise modified from time to time. “NRSRO” shall mean any credit rating agency that has elected to be treated as a nationally recognized statistical rating organization for purposes of Section 15E of the Exchange Act, without regard to whether or not such credit rating agency has been engaged by Lender or its designees in connection with, or in anticipation of, a Securitization. “O&M Program” shall have the meaning set forth in the Borrower’s Certification of even date herewith made by Borrower in favor of Xxxxxx. “Obligations” shall have the meaning set forth in the Security Instrument. “OFAC” shall have the meaning set forth in Section 3.27 hereof. “Officer’s Certificate” shall mean a certificate delivered to Lender by Borrower which is signed by Responsible Officer of Borrower. “Open Period Start Date” shall mean the Closing Date. “Operating Expense Account” shall have the meaning set forth in Section 7.5 hereof. “Operating Expense Funds” shall have the meaning set forth in Section 7.5 hereof. “Operating Expense Monthly Deposit” shall have the meaning set forth in Section 7.5 hereof. “Operating Expenses” shall mean the total of all expenditures, computed in accordance with the Approved Accounting Method, of whatever kind relating to the operation, maintenance and management of the Property that are incurred on a regular monthly or other periodic basis, including without limitation, (and without duplication) (a) utilities, ordinary repairs and maintenance, insurance, license fees, property taxes and assessments, advertising expenses, payroll and related taxes, computer processing charges, management fees (equal to the greater of (x) three percent (3.0%) of Gross Rents and (y) actual management ...

New Non-Consolidation Opinion means a substantive non-consolidation opinion provided by outside counsel acceptable to Lender and the Rating Agencies and otherwise in form and substance acceptable to Lender and the Rating Agencies. “Non-Consolidation Opinion” shall mean any substantive non-consolidation opinion delivered to Lender in connection with the Loan (including, without limitation, that certain substantive non-consolidation opinion delivered to Lender by Xxxxxxxxx Xxxxx Xxxxxx Xxxxx Xxxxxx P.A. in connection with the closing of the Loan). “Note” shall mean that certain Junior Promissory Note of even date herewith in the principal amount of $15,000,000.00, made by Borrower in favor of Lender, as the same may be amended, restated, replaced, extended, renewed, supplemented, severed, split, or otherwise modified from time to time. “NRSRO” shall mean any credit rating agency that has elected to be treated as a nationally recognized statistical rating organization for purposes of Section 15E of the Exchange