Nonfinancial Asset definition

Nonfinancial Asset means the underlying asset in this rule specifically the control of the right to use the underlying assets not limited to capital assets such as buildings, land, vehicles and equipment. However, the definition of nonfinancial assets does exclude the following: financial assets, intangible assets (other than intangible right-to-use assets), assets financed by conduit debt, biological assets, inventory, supply contracts, service concession arrangements, and licensing contracts for computer software.
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Nonfinancial Asset meanss any real property or tangible personal property that may become part of the Trust Estate in connection with the performance by the Servicer of its duties under the Indenture solely as a result of the: (i) foreclosure of any 60-day Plus Delinquent Loan owned by the Issuer or the personal and/or real property constituting security therefor (and the Servicer is authorized to purchase such real and/or personal property upon such foreclosure), (ii) termination of the rights thereunder of any holder of a 60-day Plus Delinquent Loan owned by the Issuer, (iii) receipt by the Issuer of a deed in lieu of the foreclosure of any 60-day Plus Delinquent Loan owned by the Issuer or the personal and/or real property constituting security therefor, or (iv) receipt by the Issuer of an assignment of any 60-day Plus Delinquent Loan owned by the Issuer or the personal and/or real property constituting security therefor.
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Nonfinancial Asset shall have the meaning specified in Section 5.7 of the Trust Agreement.
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More Definitions of Nonfinancial Asset

Nonfinancial Asset meanss any real property or tangible personal property that may become part of the Subject Collateral in connection with the performance by the Servicer of its duties under the CSA solely as a result of the: (i) foreclosure of any 60-day Plus Delinquent Loan owned by the Borrower or the personal and/or real property constituting security therefor (and the Servicer is authorized to purchase such real and/or personal property upon such foreclosure), (ii) termination of the rights thereunder of any holder of a 60-day Plus Delinquent Loan owned by the Borrower, (iii) receipt by the Borrower of a deed in lieu of the foreclosure of any 60-day Plus Delinquent Loan owned by the Borrower or the personal and/or real property constituting security therefor, or (iv) receipt by the Borrower of an assignment of any 60-day Plus Delinquent Loan owned by the Borrower or the personal and/or real property constituting security therefor.
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Nonfinancial Asset means any real property or tangible personal property that may become part of the Trust Estate in connection with the performance by the Servicer of its duties under the Indenture solely as a result of the: (i) foreclosure of any Defaulted Timeshare Loan owned by the Trust or the personal and/or real property constituting security therefor (and the Servicer is authorized to purchase such real and/or personal property upon such foreclosure), (ii) termination of the rights thereunder of any holder of a Defaulted Timeshare Loan owned by the Trust, (iii) receipt by the Trust of a deed in lieu of the foreclosure of any Defaulted Timeshare Loan owned by the Trust or the personal and/or real property constituting security therefor, or (iv) receipt by the Trust of an assignment of any Defaulted Timeshare Loan owned by the Trust or the personal and/or real property constituting security therefor. Any cash, financial assets or other property that are received from the exercise of the power and authority of the Servicer hereunder shall be part of the Trust Estate.
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Related to Nonfinancial Asset

  • Financial Asset The meaning specified in Section 8-102(a)(9) of the UCC.

  • financial assets means (i) cash, (ii) securities, or (iii) a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

  • Investment Property the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49) of the New York UCC (other than any Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock”) and (ii) whether or not constituting “investment property” as so defined, all Pledged Notes and all Pledged Stock.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Commodity contract means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  • Liquid Investments means (a) readily marketable direct full faith and credit obligations of the United States of America or obligations unconditionally guaranteed by the full faith and credit of the United States of America; (b) commercial paper issued by (i) any Lender or any Affiliate of any Lender or (ii) any commercial banking institutions or corporations rated at least P-1 by Moody’s or A-1 by S&P; (c) certificates of deposit, time deposits, and bankers’ acceptances issued by (i) any of the Lenders or (ii) any other commercial banking institution which is a member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $250,000,000 and rated Aa by Moody’s or AA by S&P; (d) repurchase agreements which are entered into with any of the Lenders or any major money center banks included in the commercial banking institutions described in clause (c) and which are secured by readily marketable direct full faith and credit obligations of the government of the United States of America or any agency thereof; (e) investments in any money market fund which holds investments substantially of the type described in the foregoing clauses (a) through (d); (f) readily and immediately available cash held in any money market account maintained with any Lender; provided that, such money market accounts and the funds therein shall be unencumbered and free and clear of all Liens and other third party rights other than a Lien in favor of the Administrative Agent pursuant to the Security Documents; and (g) other investments made through the Administrative Agent or its Affiliates and approved by the Administrative Agent. All the Liquid Investments described in clauses (a) through (d) above shall have maturities of not more than 365 days from the date of issue.

  • Investment Vehicle means a corporation, partnership, limited partnership, limited liability company, association, or other entity, either domestic or foreign, managed by an external manager in which a board is the majority investor and that is organized in order to invest with, or retain the investment management services of, other external managers.

  • Pledged Investment Property means any investment property of any Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement.

  • Material Asset means any asset which has a book value of RMB100,000 or more or has a material effect on the business operations of any Party.

  • Credit Risk means the risk of loss or of adverse change in the financial situation, resulting from fluctuations in the credit standing of issuers of securities, counterparties and any debtors to which insurance and reinsurance undertakings are exposed, in the form of counterparty default risk, or spread risk, or market risk concentrations;

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Initial Assets is defined in Section 2.1 of the Sale and Servicing Agreement.]

  • Security Entitlement The meaning specified in Section 8-102(a)(17) of the UCC.

  • Eligible Investments mean book-entry securities, negotiable instruments or securities represented by instruments in bearer or registered form which evidence:

  • Investment Vehicles means any investment company or pooled investment fund, including, but not limited to, mutual fund families, exchange-traded funds, fund of funds and hedge funds, in which a Defendant has or may have a direct or indirect interest, or as to which its affiliates may act as an investment advisor, but of which a Defendant or its respective affiliates is not a majority owner or does not hold a majority beneficial interest.

  • Security Entitlements means the rights and property interests of an Entitlement Holder with respect to a Financial Asset.

  • Tangible chattel paper means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Chattel Paper means chattel paper (as that term is defined in the Code), and includes tangible chattel paper and electronic chattel paper.

  • Eligible Investment means any investment that at the time of its acquisition is one or more of the following:

  • Credit Risk Obligation Any Collateral Obligation that, in the judgment of the Collateral Manager (which may not be called into question due to subsequent events or investment determinations made by the Collateral Manager for its other clients or investment vehicles managed by the Collateral Manager), has a material risk of declining in credit quality or price; provided that during a Restricted Trading Period, a Collateral Obligation will qualify as a Credit Risk Obligation for purposes of sales of Collateral Obligations only if (i) such Collateral Obligation has been downgraded by S&P at least one rating sub-category (which rating may include a credit estimate) or has been placed and remains on a credit watch with negative implication by S&P since it was acquired by the Issuer, (ii) the Credit Risk Criteria are satisfied with respect to such Collateral Obligation or (iii) a Majority of the Controlling Class consents to treat such Collateral Obligation as a Credit Risk Obligation.