Qualifying Asset definition
Examples of Qualifying Asset in a sentence
Any issuer of securities, transfer agent or other person called upon to transfer any security, Qualifying Asset or item of Investment Property to or from the name of the Fund shall be entitled to rely on instructions or assignments signed or purporting to be signed by the Manager without inquiry as to the authority of the Person so acting or as to the validity of any transfer to or from the name of the Fund.
At such time as the aggregate Net Sale Proceeds from all Qualifying Asset Sales pursuant to Section 8.02(f)(ii) or Section 8.02(g) exceed $15,000,000 during the period from and after the Closing Date through and including the date of determination, then any Net Sale Proceeds from Qualifying Asset Sales in excess of such amount shall be used 50% to repay the outstanding Loans and 50% to repay outstanding Indebtedness under the Revolving Credit Loan Agreement.
No Qualifying Asset will be distributed to satisfy a redemption request, and any Restricted Security will be distributed only to the Shareholder which contributed it to the Fund or to such Shareholder's successor in interest.
At such time as the aggregate Net Sale Proceeds from all Qualifying Asset Sales pursuant to Section 8.02(f)(ii) or Section 8.02(g) exceed $15,000,000 during the period from and after the Eighteenth Amendment Effective Date through and including the date of determination, then any Net Sale Proceeds from Qualifying Asset Sales in excess of such amount shall be used 50% to repay the outstanding Loans and 50% to repay outstanding Indebtedness under the Term Loan Agreement.
The Company may waive the Right of Offer or the RTPUK Offer in relation to any Qualifying Asset at any time by written notice to the Shareholders and the Investment Adviser in which case the Qualifying Asset may be acquired by any other person.