Non-Permitted Transferee definition

Non-Permitted Transferee. A Person other than a Permitted Transferee.

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Non-Permitted Transferee. As defined in Section 8.12(e).

Non-Permitted Transferee. A Person other than a Permitted Transferee. Non-U.S. Person: A person that is not a U.S. Person.

Examples of Non-Permitted Transferee in a sentence

• The Trustee shall be entitled but not obligated to recover from any Holder of a Residual Certificate that was in fact a Non-Permitted Transferee at the time it became a Holder or, at such subsequent time as it became a Non-Permitted Transferee, all payments made on such Residual Certificate at and after either such time.

• The Securities Administrator shall be entitled but not obligated to recover from any Holder of a Residual Certificate that was in fact a Non-Permitted Transferee at the time it became a Holder or, at such subsequent time as it became a Non-Permitted Transferee, all payments made on such Residual Certificate at and after either such time.

• If at any time a Non-SPE Director or Observer becomes a Non-Permitted Transferee or an officer, director, employee or Affiliate of a Non-Permitted Transferee, the Non-SPE Shareholders shall promptly remove and replace such Non-SPE Director or Observer.

• Under no circumstances will any Non-SPE Shareholder transfer any Shares to a Non-Permitted Transferee.

• In the event that the SPE Shareholders do not exercise the Call Option during the Call Option Period or fail to acquire all the Non-SPE Shares from the Non-SPE Shareholders pursuant to the Call Option, then the Non-SPE Shareholders shall be entitled to sell and transfer their Shares to any Person they deem fit (other than a Non-Permitted Transferee) without following the process set out in Section 3.2 (for sake of clarity, Section 3.1 shall still apply).

More Definitions of Non-Permitted Transferee

Non-Permitted Transferee means any Person (i) that engages or participates in a business that competes with the SPE Shareholders and/or their Affiliates, including for the avoidance of doubt a motion picture studio, television broadcaster (regional, national or international), cable/satellite distributor or operator, music company or electronics (including video game, mobile phone and other hand-held electronic communication and/or data processing devices) company, (ii) that would cause any legal impediment for the Company or the business of the SPE Shareholders and/or their Affiliates, (iii) that is engaged in any illegal activity or has been convicted or indicted for any illegal activity or against whom criminal proceedings have been initiated, (iv) that is affiliated with a Governmental Authority or with a senior Governmental Official, (v) whose name appears on any list maintained by national or international bodies or agencies for purposes of enforcing anti-money laundering, anti-terrorist or other similar regulations, (vi) whose equity interest in the Company could result in adverse regulatory consequences for the Company, the SPE Shareholders and/or their Affiliates, or (vii) whose admission as a Shareholder hereunder would have a detrimental impact on the Company’s, the SPE Shareholders’ and/or their Affiliates’ public image, in each case as determined by the SPE Shareholders, in their sole and absolute discretion.

Non-Permitted Transferee. A Person other than a Permitted Transferee. Non-U.S. Person: A person that is not a U.S. Person. Nonrecoverable P&I Advance: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment (taking into account Accepted Servicing Practices) of the Servicer, the Master Servicer, as successor servicer, or any successor master servicer including the Trustee, as applicable, will not or, in the case of a proposed P&I Advance, would not be ultimately recoverable from related Late Collections on such Mortgage Loan or REO Property as provided herein.

Non-Permitted Transferee. A Person other than a Permitted Transferee. Nonrecoverable P&I Advance: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Servicer, will not or, in the case of a proposed P&I Advance, would not be ultimately recoverable from related Late Collections on such Mortgage Loan or REO Property as provided herein. Nonrecoverable Servicing Advance: Any Servicing Advances previously made or proposed to be made in respect of a Mortgage Loan or REO Property, which, in accordance with Accepted Servicing Practices, will not or, in the case of a proposed Servicing Advance, would not be ultimately recoverable from related Late Collections. Non U.S. Person: A person that is not a U.S. Person. Notice of Final Distribution: The notice to be provided pursuant to Section 9.02 to the effect that final distribution on any of the Certificates shall be made only upon presentation and surrender thereof.

Non-Permitted Transferee. Any Person that is a specialized commercial finance company, “registered investment company” (for purposes of the 40 Act), “business development company” (for purposes of the 40 Act) or hedge fund engaged in providing loans to small to medium sized businesses.

Non-Permitted Transferee. As defined in Section 8.12(e) of the Trust Agreement.

Non-Permitted Transferee. A Person other than a Permitted Transferee. NONRECOVERABLE P&I ADVANCE: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Servicer, will not or, in the case of a proposed P&I Advance, would not be ultimately recoverable from related late payments, Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds or otherwise on such Mortgage Loan or REO Property as provided herein.

Non-Permitted Transferee means any person that is not a Permitted Transferee.