Perfected means in respect of any relevant Loan and its Related Security sold by the Seller to the Guarantor LP, delivery of notice to the Borrower of such sale, assignment and transfer by the Seller to the Guarantor LP of such Loan and its Related Security and registration of the transfer of legal title to the Mortgages in the appropriate land registry office, land titles office or similar office of public registration for the location where the relevant real property is located and “Perfect” and “Perfection” shall have corresponding meanings;
Perfected means, as to the security interests granted to Secured Party in Section 2.1, that (a) a creditor on a simple contract cannot acquire a judicial lien that is superior to such security interests and (b) if a case were pending under the Bankruptcy Code in which any Grantor is the debtor, such security interests would be a Lien that is perfected in such bankruptcy case.
Perfected liens or security interest shall include a reference to an “opposable” or “set up” lien or security interest as against third parties, (h) any “right of offset”, “right of setoff” or similar expression shall include a “right of compensation”, (i) “goods” shall include “corporeal movable property” other than chattel paper, documents of title, instruments, money and securities, (j) an “agent” shall include a “mandatary”, (k) “construction liens” shall include “legal hypothecs”; (l) “joint and several” shall include “solidary”; (m) “gross negligence or willful misconduct” shall be deemed to be “intentional or gross fault”; (n) “registered ownership held for a beneficial owner” shall include “ownership on behalf of another as mandatary”; (o) “easement” shall include “servitude”; (p) “priority” shall include “prior claim”; (q) “survey” shall include “certificate of location and plan”; (r) “state” shall include “province”; (s) “fee simple title” shall include “absolute ownership”; (t) “accounts” shall include “claims”. 1.5
Examples of Perfected in a sentence
If the Third-Party Sale does not close within the 210-day period after the Claim was initially filed, the Perfected Claim Date for such Claim will be the 210th day, and we may settle the Claim under the Anticipated Loss Option.
In this circumstance, the Estimated Net Proceeds will be determined assuming that the sale of the Property closed on the date the Claim was submitted.c) If we have requested access within 20 days after the Perfected Claim Date and you are unable to provide access within 210 days of filing the Claim, we may settle the Claim under the Anticipated Loss Option.
Perfected pursuant to a statute described in s.409.311 (1)(b) or (f).
Other than requests for access to a Property, as described in Section 68, if we have any such additional requests after the Perfected Claim Date, the Claim Settlement Period will not be extended, and the Beneficiary or Servicer must use reasonable efforts to satisfy the additional requests.
Once you have provided the Perfected Claim Information we consider your Claim submission to be a “Perfected Claim”.
More Definitions of Perfected
Perfected means in respect of any relevant Purchased Loan and its Related Security, delivery of notice to the Borrower of the sale, assignment and transfer of such Loan and its Related Security and a direction to make all future repayments of the Loan to the Standby Account Depository Institution for the account
Perfected means, as to the Collateral Agent's Lien in any of the Collateral in respect of any and all outstanding Senior Secured Liabilities, that (a) a creditor on a simple contract could not acquire a judicial lien upon such Collateral that is superior to the Lien of the Collateral Agent thereon, and (b) the Collateral Agent's Lien in such Collateral would be perfected and not avoidable if a Proceeding were commenced under Bankruptcy Law in which the owner of such Collateral is the debtor.
Perfected. , in relation to a charge, means that all necessary steps have been taken to render it effective against third parties and in insolvency proceedings under the law of the jurisdiction in question; and ‘perfection’ has a corresponding meaning.
Perfected and “Perfect” shall have a corresponding meaning;
Perfected means, in respect of a security interest, perfected in accordance with the Personal Property Security Act;
Perfected or “Perfection”: Either (a) to the extent that the Agent’s interest in a Receivable or any other asset of the Borrower may be perfected by the filing of one or more UCC financing statements, the Agent has a first priority, perfected interest in such Receivable or other asset of the Borrower or (b) to the extent that the Agent’s interest in a Receivable or any other asset of the Borrower cannot be perfected by the filing of one or more UCC financing statements, if a third party were to take legal action to enforce a security interest, lien, or other encumbrance against such Receivable or such other asset, the interest of the Agent in such Receivable or such other asset is senior to such security interest, lien, or other encumbrance. For purposes of the foregoing, and provided the applicable Contract Obligor under such Receivable has been directed to remit payment to the US Lockbox Account or the US Check Delivery Address, in the case of a US Receivable, or to a UK Lockbox Account, in the case of a UK Receivable, “Perfection” may exist notwithstanding that, under UCC Section 9-406 (or any corresponding provision under applicable law of England and Wales), such Contract Obligor may have a defense to payment (and, in the case of applicable UK law, the assignment may only operate as an equitable assignment) unless and until notified of such assignment (with such notification being subject to Section 5.01(s)).