Qualified Replacement definition

Qualified Replacement shall have the meaning set forth in Section 5.6.

Qualified Replacement is someone who, in the reasonable judgment of the Adviser, is a professional with credit investment experience.

Qualified Replacement means any Person designated by the Investor in a Designation Notice that (i) meets the Independence Standards but only if the failure to meet the Independence Standards would mean that the Company failed to have a majority of independent directors and (ii) completes the normal and customary background check and similar processes customary for appointments of directors of Nasdaq Stock Market listed companies, including completion of the D&O Questionnaire and the FINRA Questionnaire.

Examples of Qualified Replacement in a sentence

• It shall be a condition to such appointment that the successor Special Servicer be a Qualified Replacement Special Servicer and the conditions set forth in subsection (e) be satisfied.

• CHEC shall, in connection with the delivery of each Qualified Replacement Mortgage to the Custodian, on behalf of the Trustee, provide the Trustee with information set forth in the Schedule of Home Equity Loans with respect to such Qualified Replacement Mortgage.

• Payments received with respect to Qualified Replacement Mortgage Loans in the Collection Period prior to the Deposit Date on which such substitution occurs will not be part of the Trust and will be retained by the Seller.

• In the case of a Qualified Replacement Mortgage Loan, the Mortgage File relating thereto shall be delivered to the Trustee and the amount, if any, by which the Principal Balance of the related Deleted Mortgage Loan as of the related Deposit Date exceeds the Principal Balance of the Qualified Replacement Mortgage Loan as of the first day of the related Collection Period shall be remitted by the Seller to the Trustee for deposit in the Certificate Account on the Deposit Date on which the substitution occurs.

• They may also pass information to each other via the command lines in the Multiple Command Line Buffer.

More Definitions of Qualified Replacement

Qualified Replacement means a senior investment professional selected by the Adviser to replace a Key Executive upon the occurrence of a Key Person Event; provided that such replacement has been approved by either (a) a majority of the Company’s trustees who are not “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of the Company or (b) the holders of a majority of the outstanding Common Shares, and upon either such approval, such selection will constitute a “Qualified Replacement.” Terms not defined herein shall have the same meaning as in the Prospectus. Now, therefore, the Company hereby agrees with the Distribution Manager as follows:

Qualified Replacement means (A) a person designated by the Purchaser who designated the person to be replaced (or by such Purchaser's designee) for which disclosures under Item 401(f) of Regulation S-K promulgated under the Securities Act (or any successor provision) for such person would not be required in the Company's SEC Documents, and who is consented to by the Company (which consent is not to be unreasonably withheld, delayed or conditioned) or (B) a person designated by the Purchaser who designated the person to be replaced who is reasonably agreed to by the Company.

Qualified Replacement means an individual who is selected and appointed by the Advisor to serve in a position as a Senior Executive Officer and who has such real estate investment management, property management, brokerage, acquisition or disposition experience and other qualifications as are consistent with the duties and responsibilities of such position.

Qualified Replacement means a senior investment professional selected by the Adviser and approved by either (i) a majority of the independent directors of the Company or (ii) the holders of a majority of the outstanding shares of the Company’s common stock.

Qualified Replacement is defined as a senior investment professional selected by the Investment Adviser and approved by Mxxxxx Sxxxxxx Investment Management. “Required Involvement” means (x) with respect to each of Jxxxxxx X. Xxxxx, Jxxxxxx Xxx, Kxxxx Xxxx, Sxxx Xxxxxxxx, and Dxxxx Xxxxxxxxxx, being actively involved in and devoting sufficient time to the business and affairs of the Company and (y) with respect to Dxxxx X. Xxxxxx, devoting sufficient time to the business and affairs of Mxxxxx Sxxxxxx Private Credit & Equity, in each case, as deemed reasonably necessary by the Investment Adviser. If a majority-in-interest of the then-outstanding Units of the Company, voting together as a single class, vote in favor of the proposal to continue the Investment Period, the Investment Period shall be continued, and the Members will be obligated to fund capital contributions as if a Key Person Event had never occurred. Otherwise, the Investment Period shall be deemed to have terminated as of the date of the Key Person Meeting. For the avoidance of doubt, upon termination of the Investment Period as a result of a Key Person Event, the Company may continue to draw down Commitments to the extent set forth in Section 6.1.

Qualified Replacement is defined as a senior investment professional selected by the Adviser and approved by either (i) a majority of the independent directors of the Company or (ii) the holders of a majority of the outstanding Shares. If a majority of the independent directors vote in favor of the proposal to continue the Investment Period, the Investment Period shall be continued and the Stockholders will be obligated to fund capital contributions as if a Key Person Event had never occurred. Otherwise, the Investment Period shall be deemed to have terminated as of the date of the Key Person Meeting. For the avoidance of doubt, upon termination of the Investment Period as a result of a Key Person Event, the Company may continue to draw down Capital Commitments to the extent set forth above in this Section 4.4.

Qualified Replacement means a senior investment professional selected by the Adviser and approved by a majority of the Independent Directors.