Redemptive Value definition

Redemptive Value. With respect to any Tax Lien, Eligible Substitute Tax Lien or Deleted Tax Lien and any date of calculation, (i) the Tax Lien Principal Balance thereof plus all accrued interest thereon as of such date of calculation, exclusive of, in the case of the Bankruptcy Tax Liens where a Property Owner was Bankrupt as of the applicable Sale Date, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts, or (ii) in the case of a Tax Lien that has been the subject of a judicial modification in a Bankruptcy Proceeding, the amount fixed by the applicable bankruptcy court.
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Redemptive Value. With respect to any Tax Lien, Eligible Substitute Tax Lien or Deleted Tax Lien and any date of calculation, (i) the Tax Lien Principal Balance thereof plus all accrued interest thereon as of such date of calculation, exclusive of, in the case of the Bankruptcy Tax Liens where a Property Owner was Bankrupt as of the applicable Conveyance Date, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts, or
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Redemptive Value means, with respect to any Tax Lien, the full amount of the taxes secured by said lien, including all interest accrued as of any designated date, and if calculated after the commencement of a foreclosure action, the total amount required to redeem such Tax Lien in full on such date including reasonable attorneys’ fees, costs and expenses allowed by law.
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Examples of Redemptive Value in a sentence

  • The rights of the parties hereto shall be governed as if any such reduction constitutes a breach by the Seller of its representation and warranty as to the Redemptive Value as of the Sale Date of the related Tax Lien.

  • Consistent with the foregoing, for purposes of all calculations hereunder, so long as such Tax Lien is considered to be a Tax Lien held in the Trust Estate it shall be assumed that, notwithstanding that the related Tax Lien shall have been extinguished, in connection with the calculation of any servicing compensation, the Redemptive Value thereof shall be deemed to remain outstanding until Gross REO Proceeds are received with respect thereto.

  • The Servicer may also immediately charge-off any Tax Lien the Adjusted Redemptive Value of which is less than or equal to $50.

  • The Servicer acknowledges that the City, in defending any such Legal Challenge, may authorize a compromise or reduction of the Redemptive Value of the Tax Lien which is the subject of such Legal Challenge.

  • If the Servicer receives a payment from a Property Owner that does not specify the delinquent tax lien to which the payment is to be applied, then such payment shall be applied in accordance with applicable Law and, as to the Tax Liens and any other tax lien that ranks pari passu therewith, on a pro rata basis in accordance with the Adjusted Redemptive Value (or comparable amount) thereof.

  • Notwithstanding any other provision contained in this Agreement, in any tax lien foreclosure action, the Servicer shall be required to make a bid on behalf of the Issuer for the related Property in an amount not less than the full amount of the Redemptive Value of the Tax Lien.

  • Proceeds shall be applied, first to any Subsequent Taxes and Assessments until paid and satisfied in full, and then, to the Tax Liens and any other tax lien that ranks pari passu therewith, on a pro rata basis in accordance with the Adjusted Redemptive Value (or comparable amount) thereof.

  • For all purposes of this Agreement, Collections received with respect to any Tax Lien shall be deemed to be applied (A) first, to reduce the portion of the Adjusted Redemptive Value thereof representing recoverable Lien Administration Expenses relating to such Tax Lien, (B) second, to reduce the portion of the Adjusted Redemptive Value thereof representing interest accrued thereon, as applicable, and (C) third, to reduce that portion of the Adjusted Redemptive Value thereof representing principal.


More Definitions of Redemptive Value

Redemptive Value means with respect to any Texas Tax Lien as of any date, either (x) the sum of (i) the outstanding principal balance of the Texas Tax Lien as set forth in the related Payment Agreement and any Subsequent Texas Tax Lien owned by the Issuer relating thereto, (ii) all accrued interest thereon and (iii) all outstanding Lien Administration Expenses with respect thereto (to the extent such Lien Administration Expenses can be imposed consistent with the Texas Statutes) and, without duplication, any outstanding special assessments, penalties, costs and fees imposed under the Texas Statutes or (y) in the case of a Texas Tax Lien that has been the subject of a judicial modification in a bankruptcy proceeding, the amount fixed by the applicable bankruptcy court.
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Redemptive Value. With respect to any Tax Lien, Eligible Substitute Tax Lien or Deleted Tax Lien and any date of calculation, (i) the Tax Lien Principal Balance thereof plus all accrued interest thereon as of such date of calculation, exclusive of, in the case of the Bankruptcy Tax Liens where a Property Owner was Bankrupt as of the applicable Sale Date, Direct Sale Date or PACE Charge Lien Transfer Date, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts, or (ii) in the case of a Tax Lien that has been the subject of a judicial modification in a Bankruptcy Proceeding, the amount fixed by the applicable bankruptcy court.
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Redemptive Value means, with respect to any Tax Lien at any given time, the amount (consisting of principal, interest, penalties, costs and any other amounts) required to redeem such Tax Lien at such time, which amount is at least equal to the applicable amount set forth on Exhibit A hereto with respect to the Existing Tax Liens.
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Redemptive Value means, with respect to a Tax Receivable as of a particular date, the Tax Receivable Balance thereof as of such particular date plus accrued and unpaid interest from the Cut-off Date to such particular date on the amount described in clause (A) of the definition of Tax Receivable Balance.
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Redemptive Value means, with respect to PACE Charge Liens transferred or sold to the Trust and any date of calculation, the sum of the PACE Charge Lien Principal Balance thereof and all accrued interest thereon as of such date of calculation, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts.
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Related to Redemptive Value

  • Redemption Value means, in respect of a Unit, the price per Unit at which such Unit is redeemed, calculated in accordance with the Trust Deed.

  • Early Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency calculated by the Calculation Agent as the fair market value (calculated without taking into account the creditworthiness of the Company) of a Preference Share as of the Early Preference Share Valuation Date taking into account such factor(s) as the Calculation Agent determines appropriate, including, but not limited to, the relevant Early Preference Share Redemption Event after deducting any Associated Costs (to the extent not already reflected in such fair market value).

  • Make-whole Redemption Rate means the sum, as calculated by the Make-whole Calculation Agent, of the Benchmark Rate and the Make-whole Margin.

  • Early Preference Share Redemption Date means the day falling ten Business Days after the Early Preference Share Valuation Date.

  • Triggering Redemption Amount means, for each share of Preferred Stock, the sum of (a) the greater of (i) 130% of the Stated Value and (ii) the product of (y) the VWAP on the Trading Day immediately preceding the date of the Triggering Event and (z) the Stated Value divided by the then Conversion Price, (b) all accrued but unpaid dividends thereon and (c) all liquidated damages and other costs, expenses or amounts due in respect of the Preferred Stock.