Residual Asset definition

Residual Asset means in relation to the Transferred Business of a particular Transferor:
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Residual Asset means any asset, including the rights, benefits and powers (whether actual or contingent) of the Transferor whatsoever under or by virtue of the Residual Policies or the Residual Contracts, to be transferred from the Transferor to the Transferee pursuant to the Scheme, the transfer of which asset from the Transferor to the Transferee (a) requires as on the Scheme Effective Date either the consent of any person (other than the Transferor, the Transferee or the Court) or the waiver by any person of any right to acquire, or to be offered the right to, or to offer to, acquire or procure the acquisition by some other person of, all or any part of such property, being a right which directly or indirectly arises or is exercisable as a consequence of such transfer being proposed or taking effect, (b) which the Court does not have jurisdiction to transfer or determines for any other reason not to transfer it or the transfer of which is not recognized by the laws of any relevant jurisdiction in which such asset is situated or to which the asset is subject or (c) cannot be effected pursuant to the Scheme for any other reason;
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Residual Asset means (i) the Residual Policies and (ii) any asset, including the rights, benefits and powers (whether actual or contingent) of the Transferor whatsoever under or by virtue of the Residual Policies or the Residual Contracts, to be transferred from the Transferor to the Transferee pursuant to the Scheme, the transfer of which Residual Policies and asset from the Transferor to the Transferee:
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Examples of Residual Asset in a sentence

  • The Transferee shall accept without investigation or requisition such title as the Transferor shall have at the Effective Date to the Transferred Assets and, at any Subsequent Transfer Date, to each Residual Asset then transferred.

  • In the event of any payment being made to, property being received by, or right being conferred upon the Transferor on or after the Effective Date in respect of any Transferred Asset or any Residual Asset, the Transferor shall, as soon as is reasonably practicable after its receipt, pay over the full amount of such payment or (to the extent to which it is able to do so) transfer such property or right to, or in accordance with the directions of, the Transferee.

  • The Transferor shall from the Effective Date (but save to the extent that giving effect to such a trust would require a consent or waiver which has not been obtained or that such a trust would not be recognised by any applicable law or that the parties agree in writing not to give effect to such a trust for any reason) hold any Residual Asset, together with any proceeds of sale or income or other right accrued or return arising in respect thereof, as trustee for the Transferee.

  • The Transferor shall be subject to exclusive directions from the Transferee in respect of any Residual Asset from the Effective Date until it is transferred to or otherwise vested in the Transferee or is disposed of (whereupon the Transferor shall account to the Transferee for the proceeds of the sale thereof), and the Transferee shall have the authority to act as the attorney of the Transferor in respect of such Residual Asset for all such purposes.

  • The transfer of any Transferring Asset, Transferring Liability, Residual Asset or Residual Liability to the Transferee shall have effect notwithstanding any provision (whether express or implied) to the contrary in any contract or arrangement with any policyholder or any other person.

  • The Transferee shall have authority (with authority to sub-delegate) to act as the attorney of the Transferor in respect of any such Residual Asset for all such purposes.

  • If any doubt or difference shall arise as to the allocation or attribution of any of the Transferred Business (including any Transferred Policy, Transferred Business Asset or Transferred Liability), or any Residual Asset or Residual Liability, in accordance with this Scheme, the same shall be determined by the Transferee Board, having regard to appropriate actuarial advice.

  • Any property or asset so specified will be a Residual Asset for the purposes of this Scheme, and the terms of the Scheme (including the terms relating to the transfer of Residual Assets) shall apply accordingly.

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  • In the case of any Residual Asset, the Relevant Transferor shall, on and with effect from the Legal Effective Date until the relevant Subsequent Transfer Date, hold any such Residual Asset as trustee for the Relevant Transferee.


More Definitions of Residual Asset

Residual Asset means all or any part of a Transferring Asset which would be an Initial Transferring Asset, but:
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Residual Asset means any property or assets of the Transferor, including any Encumbrance in favour of the Transferor, which would be a Transferring Asset but which:
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Residual Asset means: any property or assets of the Transferor, including any Encumbrance in favour of the Transferor which would be a Transferring Asset but:
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Residual Asset means those Transferring Assets which do not transfer to the Transferee pursuant to the Order as at the Effective Date for any reason whatsoever and are not otherwise transferred, including:
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Residual Asset means all or any part of a Transferring Asset which would be an Initial Transferring Asset, but:(a)the Court has declined to order its transfer to the Transferee at the Phase 1 Effective Time or Relevant Phase 2 Effective Time (as applicable);(b)its transfer, or the transfer of any part of it, pursuant to the Order is not recognised as effective and enforceable, by the laws of the jurisdiction in which the Transferring Asset is situated, or which govern that Transferring Asset without further steps being taken;(c)the Transferor and the Transferee agree in writing, at any time prior to the Phase 1 Effective Time or Relevant Phase 2 Effective Time (as applicable), that it would be more conveniently transferred at a later time;(d)the Transferee does not have the regulatory authorisation, permission, or other consent, at the Phase 1 Effective Time or Relevant Phase 2 Effective Time (as applicable) which it needs to hold the Transferring Asset or perform the Transferring Arrangement; or(e)it comprises any right, proceeds of sale or Income or other accrual or return whatsoever, whether or not in the form of cash, received by the Transferor from time to time after the Phase 1 Effective Time or Relevant Phase 2 Effective Time (as applicable) in respect of, or earned on, any TransferringAssets referred to in paragraphs
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Residual Asset means in relation to the Transferring Business:
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Related to Residual Asset

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Capital Asset means, with respect to the Borrower and its Subsidiaries, any asset that should, in accordance with GAAP, be classified and accounted for as a capital asset on a Consolidated balance sheet of the Borrower and its Subsidiaries.

  • Residual Auction Revenue Rights means incremental stage 1 Auction Revenue Rights created within a Planning Period by an increase in transmission system capability, including the return to service of existing transmission capability, that was not modeled pursuant to Operating Agreement, Schedule 1, section 7.5 and the parallel provisions of Tariff, Attachment K- Appendix, section 7.5 in compliance with Operating Agreement, Schedule 1, section 7.4.2 (h) and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2(h), and, if modeled, would have increased the amount of stage 1 Auction Revenue Rights allocated pursuant to Operating Agreement, Schedule 1, section 7.4.2 and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2; provided that, the foregoing notwithstanding, Residual Auction Revenue Rights shall exclude: 1) Incremental Auction Revenue Rights allocated pursuant to Tariff, Part VI; and 2) Auction Revenue Rights allocated to entities that are assigned cost responsibility pursuant to Operating Agreement, Schedule 6 for transmission upgrades that create such rights.

  • Residual Receipts means for each calendar year, the amount by which Gross Revenue exceeds Annual Operating Expenses.

  • Residual Funding Facility means any funding arrangement with a financial institution or institutions or other lenders or purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness.

  • Asset Pool means a pool of cash-flow generating assets in which an issuer of a securitized product has a direct or indirect ownership or security interest;

  • Residual means, with respect to any Lease, any right of the lessor or its assigns, as owner of the underlying Equipment, to realize value from the related Equipment after termination of the Lease, including the right of the owner of the Equipment to receive any proceeds from the sale, re-lease, continued use or other disposition of the Equipment after the termination of the Lease.

  • Digital asset means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record.

  • Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.

  • Material Asset means any asset which has a book value of RMB100,000 or more or has a material effect on the business operations of any Party.

  • Rental Vehicle means any single automobile owned and operated by a car rental company or agency that is hired under a short term contract UNLESS it is:

  • goods vehicle means a motor vehicle constructed or adapted for use for the carriage of goods or burden of any description or a trailer so constructed or adapted;

  • Residual Value means the proceeds, less removal and disposal costs, if any, realized upon disposition of a tangible capital asset. It usually is measured by the net proceeds from the sale or other disposition of the asset, or its fair value if the asset is traded in on another asset. The estimated residual value is a current forecast of the residual value.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Grantor Trust means a Trust other than a RIC.

  • Underlying Asset means the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • Portfolio Asset means an asset of an investment fund;

  • ALG Residual Value means the residual of a 2012-1 Vehicle set forth as the ALG Residual Value in the lease schedule attached as Exhibit A to the 2012-1 SUBI Supplement, which shall be the lesser of (i) the ALG residual values of the 2012-1 Vehicles at the scheduled termination of the related 2012-1 Leases at the time the related 2012-1 Lease was signed and (ii) the ALG residual values of the 2012-1 Vehicles at the scheduled termination of the related 2012-1 Leases provided by ALG in February 2012.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Residual Amount means for any Weekly Allocation Date with respect to any Quarterly Collection Period the amount, if any, by which the amount allocated to the Collection Account on such Weekly Allocation Date exceeds the sum of the amounts to be paid and/or allocated on such Weekly Allocation Date pursuant to priorities (i) through (xxviii) of the Priority of Payments.

  • Adjusted Property means any property the Carrying Value of which has been adjusted pursuant to Section 5.5(d)(i) or 5.5(d)(ii).

  • Distributed Property shall have the meaning specified in Section 14.04(c).

  • Mortgage Pool Assets (i) The Mortgage Loans (including all Substitute Mortgage Loans) identified on the Mortgage Loan Schedule, and all rights pertaining thereto, including the related Mortgage Notes, Mortgages, Cooperative Stock Certificates, Cooperative Leases, Security Agreements, Assignments of Proprietary Lease, and Recognition Agreements, and all Monthly Payments due after the Cut-Off Date and all other payments and distributions collected with respect to the Mortgage Loans on or after the Cut-Off Date; (ii) the Certificate Account, the Investment Account, and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iii) the Custodial Accounts for P&I and any Buydown Fund Account (to the extent of the amounts on deposit or other property therein attributable to the Mortgage Loans), and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iv) all property that secured a Mortgage Loan and that has been acquired by foreclosure or deed in lieu of foreclosure or, in the case of a Cooperative Loan, a similar form of conversion, after the Cut-Off Date; and (v) each FHA insurance policy, Primary Insurance Policy, VA guaranty, and other insurance policy related to any Mortgage Loan, and all amounts paid or payable thereunder and all proceeds thereof.