Passive Interest definition

Passive Interest means a common equity interest or preferred equity interest (other than Debt-Like Preferred Equity) held by the Company or its controlled Affiliate in a Person, which interest entitles the Company or its controlled Affiliate to less than 5% of the fully-diluted equity in such Person; provided that, to be a Passive Interest, neither the Company nor any of its controlled Affiliates (w) shall work for, advise or consult for such Person, (x) shall have voting rights in excess of 5% of the voting interests in such Person, (y) shall have a seat on any managing body of such Person or have the right to nominate or select a member of its governing body and (z) shall have any veto or consent rights with respect to actions of such Person or investors therein; provided , further , that any equity interests in a diversified public fund shall be deemed to be a Passive Interest.
Sample 1
Passive Interest means a common equity interest or preferred equity interest (other than Debt-Like Preferred Equity) held by the Company or its controlled Affiliate in a Person, which interest entitles the Company or its controlled Affiliate to less than 5% of the fully-diluted equity in such Person; provided that, to be a Passive Interest, neither the Company nor any of its controlled Affiliates (w) shall work for, advise or consult for such Person, (x) shall have voting rights in excess of 5% of the voting interests in such Person, (y) shall have a seat on any managing body of such Person or have the right to nominate or select a member of its governing body and (z) shall have any veto or consent rights with respect to actions of such Person or investors therein; provided, further, that any equity interests in a diversified public fund shall be deemed to be a Passive Interest.
Sample 1

Examples of Passive Interest in a sentence

  • Certain other transfers of direct or indirect interests in the Borrower (each, a “Qualified Passive Interest Transfer”).

  • A Qualified Passive Interest Transfer is any transfer of a direct or indirect interest in the Borrower, if, following the transfer, (i) the Real Property remains under the Legal Control of the REIT; (ii) the REIT maintains Legal Control of the Borrower, and (iii) the Carveout Obligor meets the Net Worth Requirement.

  • The interest rate accrued as from that date is equivalent to the Basic Passive Interest Rate published by the Central Reserve Bank.

  • The interest rate that accrues from that moment is equal to the Basic Passive Interest Rate published by the Central Reserve Bank which was valid at the date of issue, and remains stable throughout the life of the instrument.

  • As such, the holder of a Passive Interest typically has limited or no access to mining operations or the underlying mineral properties to which the Passive Interest relates, nor to the extensive technical data and other information generated by or available to the owner or operator of the underlying mine or mineral property.

  • A holder of a Passive Interest generally has no executive or operational interest or other participation in the mine or mineral property to which the Passive Interest relates.

  • Holders of a royalty, streaming, or other similar interest in mineral properties (a Passive Interest) are not required to prepare Public Reports for disclosure of Exploration Information, Mineral Resources, or Mineral Reserves in respect of such Passive Interest.

  • Plus Passive Interest Paid to HUD for FY 2013: Total Expenditures: $220,618.57+$612.62 $221,231.19 6.

  • On the other hand, the idea of “risk management at the community and local level” is used to refer to strategies, projects and instruments used at the community and local levels, but which are essentially promoted and controlled by external actors, although the local community may participate in one way or another.

  • A "Qualified Passive Interest Transfer" is any transfer of a direct or indirect interest in the Grantor, if, following the transfer (i) the Real Property remains under the Legal Control of one or more Permitted Control Group Members; (ii) the transfer does not result in a Prohibited Structural Change and (iii) the transfer does not result in a change in assets that would be at risk with respect to the Carveout Obligations.

Related to Passive Interest

  • Passive Investor means a person that:

  • 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 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 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.

  • Derivative Interest means any derivative securities (as defined under Rule 16a-1 under the Exchange Act) that increase in value as the value of the underlying equity increases, including, but not limited to, a long convertible security, a long call option and a short put option position, in each case, regardless of whether (x) such interest conveys any voting rights in such security, (y) such interest is required to be, or is capable of being, settled through delivery of such security or (z) transactions hedge the economic effect of such interest.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Private interest means an interest held by an individual that is:

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Joint Venture Interests means partnership, joint venture, membership or other equity interests issued by any Person which is an Investment Affiliate that is not a Subsidiary, is not consolidated with Borrower and is not controlled by a Joint Venture Parent.

  • Pecuniary Interest means the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in securities.

  • Asset Interest is defined in Section 2.1(b).

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Legitimate Interest means the interest of our business in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us.

  • Substantial U.S. Market Interest means “substantial U.S. market interest” as that term is defined in Regulation S;

  • Controlling Interest means: (1) an ownership interest or participating interest in a business entity by virtue of units, percentage, shares, stock, or otherwise that exceeds 10 percent; (2) membership on the board of directors or other governing body of a business entity of which the board or other governing body is composed of not more than 10 members; or (3) service as an officer of a business entity that has four or fewer officers, or service as one of the four officers most highly compensated by a business entity that has more than four officers.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Voting Interest With respect to any provisions hereof providing for the action, consent or approval of the Holders of all Certificates evidencing specified Voting Interests in the Trust Estate, the Holders of each Class of Certificates will collectively be entitled to the then applicable percentage of the aggregate Voting Interest represented by all Certificates equal to the ratio obtained by dividing the Principal Balance of such Class by the sum of the Class A Principal Balance and the Class B Principal Balance. Each Certificateholder of a Class will have a Voting Interest equal to the product of the Voting Interest to which such Class is collectively entitled and the Percentage Interest in such Class represented by such Holder's Certificates. With respect to any provisions hereof providing for action, consent or approval of each Class of Certificates or specified Classes of Certificates, each Certificateholder of a Class will have a Voting Interest in such Class equal to such Holder's Percentage Interest in such Class.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.