Passive Asset definition

Passive Asset means any asset that produces passive income or that is held for the production of passive income for purposes of the PFIC Provisions taking into account the facts and circumstances that will exist immediately after the Closing.
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Examples of Passive Asset in a sentence

  • Passive Asset Transactions, LLC Provident Funding Associates, L.P. All Provident Warehouse Notes, including, without limitation, that certain Servicing Facility Promissory Note, dated as of June 14, 2007, and issued by Provident Funding Associates, L.P. in favor of RFC.

  • RFC Asset Holdings II, LLC By: Name: Title: Passive Asset Transactions, LLC By: Name: Title: * Form to be amended from time to time by agreement of the parties.

  • Furthermore, within a 500 meter radius of the passive asset any grapnel activities will be directed away from the Passive Asset.

  • Securities Accounts Account Owner Financial Institution Account Number Account Name Passive Asset Transactions, LLC Citibank, N.A. Acc.

  • This NOTICE, dated as of , 20 , is delivered pursuant to Section 12 of the Pledge and Security Agreement and Irrevocable Proxy, dated as of November 20, 2008, among RFC Asset Holdings II, LLC, Passive Asset Transactions, LLC, and certain of their Affiliates from time to time parties thereto, as Grantors, and GMAC LLC, as Lender Agent (as amended, supplemented, restated or otherwise modified from time to time, the “Pledge and Security Agreement”).

  • Trenching with a skid mounted jet ▇▇▇▇▇▇ will not penetrate the soil within 50 meters of the Passive Asset.

  • Trenching with a tracked remotely operated vehicle will not penetrate the soil within 25 meters of the Passive Asset.

  • Trenching with a towed cable plough will not penetrate the soil within 250 meters of the Passive Asset.

  • Grapnel operations will not take place within a radius of 50 meters outside bound of the Passive Asset.

  • This NOTICE, dated as of , 20__, is delivered pursuant to Section 14 of the Pledge and Security Agreement and Irrevocable Proxy, dated as of June 1, 2009, among RFC Asset Holdings II, LLC, Passive Asset Transactions, LLC and certain of their Affiliates from time to time parties thereto, as Grantors, and GMAC LLC, as Secured Party (as amended, supplemented, restated or otherwise modified from time to time, the “Fourth Pledge and Security Agreement”).

Related to Passive Asset

  • Passive NFFE means any NFFE that is not (i) an Active NFFE, or (ii) a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations.

  • Passive NFE Under the CRS a “Passive NFE” means any NFE that is not an Active NFE. An Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution is also treated as a Passive NFE for purposes of the CRS.

  • Passive RFID tag means a tag that reflects energy from the reader/interrogator or that receives and temporarily stores a small amount of energy from the reader/interrogator signal in order to generate the tag response. The only acceptable tags are EPC Class 1 passive RFID tags that meet the EPCglobal\TM\ Class 1 Generation 2 standard.

  • Passive investor means a person that:

  • Unladen vehicle means a vehicle without a driver, or passenger, and unladen, but with its fuel tank full and its normal complement of tools;