Qualified Assignment definition

Qualified Assignment means any of the following: (a) an assignment to a transferee acquiring at least 25% of the Equity Interests subject to the Warrant (subject to adjustment for stock splits, stock dividends, recapitalizations and similar events); or (b) an assignment to an Affiliate of the Holder.

Qualified Assignment means an assignment of the obligations to make payments under a Settlement which satisfies Section 130(c) of the Code.

Qualified Assignment means an assignment of the Term Loans made during the Escrow Period by the Assignee Lenders to an Eligible Assignee so long as such assignment is (i) evidenced by an Assignment and Acceptance, (ii) made on a ratable basis among the Assignee Lenders calculated pursuant to each Assignee Lender’s pro rata share of the aggregate Escrow Funds existing immediately prior to giving effect to such assignment and (iii) has been consented to by the Borrower (unless a Specified Event of Default has occurred and is continuing at the time of such assignment).

Examples of Qualified Assignment in a sentence

Even were this section to apply to the Qualified Assignment, however, that section makes clear that the merepresence of a non-assignment clause in the contract would not prevent the Trustee from assigning the Debtor’s right to receive payments.

American General’s arguments assume that the Trustee may not assign the Debtor’s rights under the Qualified Assignment without the consent of AGAC.

Further, the Qualified Assignment expressly provides that, although AGAC may direct that payments under the Annuity Contract be made directly to the Debtor, this is solely for the convenience of AGAC and “shall not provide the Claimant or any payee with any rights of ownership or control over the ‘qualified funding asset’ [the Annuity Contract] or against the Annuity issuer.” Immediately preceding the filing of the bankruptcy case, the Debtor held no rights under the Annuity Contract.

We have already seen that American General failed to consider the application of the Bankruptcy Code to the anti-assignment language in the Qualified Assignment, and further that nothing in the structured settlement laws of either Tennessee or Texas prohibits transfer of the right to receive payments under a structured settlement agreement.

The Trustee proposes to assign the Debtor’s rights under the Qualified Assignment pursuant to section 363(b)(1) of the Bankruptcy Code, which provides:The trustee, after notice and a hearing, may use, sell, or lease, other than in the ordinary course of business, property of the estate.11 U.S.C. § 363(b)(1).

More Definitions of Qualified Assignment

Qualified Assignment means an assignment of the obligation to make Periodic Payments pursuant to a Settlement which satisfies Section 130(c) of the Internal Revenue Code.