DEPRECIATION IN VALUE Sample Clauses

DEPRECIATION IN VALUE until such time as the Security becomes enforceable, the moneys standing to the credit of any account comprised in the Security shall be dealt with in accordance with the provisions of the Transaction Documents and the Security Trustee shall not be responsible in such circumstances or at any other time for any Liability occasioned thereby whether by depreciation in value or by fluctuation in exchange rates or otherwise unless such Liability is occasioned by the negligence or wilful default of the Trustee;
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DEPRECIATION IN VALUE until the delivery of an Enforcement Notice, the moneys standing to the credit of any account comprised in the Secured Property shall be dealt with in accordance with the provisions of the Documents and the Note Trustee shall not be responsible in such circumstances or at any other time for any Liability suffered by any person, whether by reason of depreciation in value or by fluctuation in exchange rates or otherwise, unless such Liability is by reason of a Breach of Duty of the Note Trustee;
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DEPRECIATION IN VALUE. Until such time as the Security becomes enforceable, the monies standing to the credit of any account comprised in the Security shall be dealt with in accordance with the provisions of the Relevant Documents and the Security Trustee shall not be responsible in such circumstances or at any other time for any Liability occasioned thereby whether by depreciation in value or by fluctuation in exchange rates or otherwise unless such Liability is occasioned by the fraud, negligence or wilful default of the Security Trustee. In particular and without limitation, the Security Trustee shall not be liable for any such decline or loss directly or indirectly arising from its acting or failing to act as a consequence of an opinion reached by it in good faith based on advice received by it in accordance with this Deed and the Loan Note Conditions, unless such Liability is occasioned by the fraud, gross negligence or wilful default of the Security Trustee.
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Related to DEPRECIATION IN VALUE

  • Depreciation The Company treats Memorabilia and Collectibles assets as collectible and therefore will not depreciate or amortize the SERIES #JimmieFoxx1938Bat going forward. Series Designation of #MANTLE57AUTOBAT, a series of Collectable Sports Assets, LLC Capitalized terms used but not defined herein have the meanings assigned to such terms in the Limited Liability Company Agreement of Collectable Sports Assets, LLC, as in effect as of the effective date set forth below (the “Agreement”). References to Sections and Articles set forth herein are references to Sections and Articles of the Agreement. Name of Series #MANTLE57AUTOBAT, a series of Collectable Sports Assets, LLC, a Delaware limited liability company Date of establishment May 7, 2021 Managing Member CS Asset Manager, LLC, a Delaware limited liability company, is appointed as the Managing Member of #MANTLE57AUTOBAT with effect from the effective date hereof and shall continue to act as the Managing Member of #MANTLE57AUTOBAT until dissolution of #MANTLE57AUTOBAT pursuant to Section 11.1(b) or its removal and replacement pursuant to Section 4.3 or ARTICLE X. Initial Member CS Asset Manager, LLC, a Delaware limited liability company Series Asset The Series Assets of #MANTLE57AUTOBAT shall comprise the asset as further described in Schedule 1 attached hereto, which will be acquired by #MANTLE57AUTOBAT through that certain Consignment Agreement dated as of May 6, 2021, as it may be amended from time to time, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by #MANTLE57AUTOBAT from time to time, as determined by the Managing Member in its sole discretion. Asset Manager CS Asset Manager, LLC, a Delaware limited liability company. Management Fee As stated in Section 7.1 of the Agreement. Issuance Subject to Section 6.3(a)(i), the maximum number of #MANTLE57AUTOBAT Interests the Company can issue may not exceed the purchase price, in the aggregate, of $200,000. Number of #MANTLE57AUTOBAT Interests held by the Managing Member and its Affiliates The Managing Member must purchase a minimum of 0.5% and may purchase additional #MANTLE57AUTOBAT Interests (including in excess of 10%), in its sole discretion, through the Offering. Broker Dalmore Group, LLC, a New York limited liability company. Brokerage Fee Up to 1.00% of the gross proceeds of the Interests from #MANTLE57AUTOBAT sold at the Initial Offering of the #MANTLE57AUTOBAT Interests (excluding the #MANTLE57AUTOBAT Interests acquired by any Person other than Investor Members). Other rights Holders of #MANTLE57AUTOBAT Interests shall have no conversion, exchange, sinking fund, redemption or appraisal rights, no preemptive rights to subscribe for any securities of the Company and no preferential rights to distributions of #MANTLE57AUTOBAT Interests. Officers There shall initially be no specific officers associated with #MANTLE57AUTOBAT, although, the Managing Member may appoint Officers of #MANTLE57AUTOBAT from time to time, in its sole discretion. Aggregate Ownership Limit As stated in Section 1.1. Minimum Interests One (1) Interest per Member.

  • Interest Expense For any period, without duplication, (a) total interest expense incurred (both expensed and capitalized) of the Borrower, the Guarantors and their respective Subsidiaries on funded debt, including the portion of rents payable under a Capitalized Lease allocable to interest expense in accordance with GAAP (but excluding capitalized interest funded under a construction loan interest reserve account), determined on a consolidated basis in accordance with GAAP for such period, plus (b) the Borrower’s, the Guarantors’ and their respective Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period. Interest Expense shall not include Preferred Distributions or interest on Trust Preferred Equity.

  • Net Asset Value The net asset value of each outstanding Share of the Trust shall be determined at such time or times on such days as the Trustees may determine, in accordance with the 1940 Act. The method of determination of net asset value shall be determined by the Trustees and shall be as set forth in the Prospectus or as may otherwise be determined by the Trustees. The power and duty to make the net asset value calculations may be delegated by the Trustees and shall be as generally set forth in the Prospectus or as may otherwise be determined by the Trustees.

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.

  • Consolidated Net Worth The Company will not permit Consolidated Net Worth at any time to be less than US$165,000,000 plus the cumulative sum of 25% of Consolidated Net Earnings (but only if a positive number) for each fiscal quarter ending after June 30, 2004.