Problem Assets Sample Clauses

The "Problem Assets" clause defines and addresses assets within a transaction that are identified as having issues or defects, such as legal encumbrances, title disputes, or non-compliance with regulations. In practice, this clause typically outlines the criteria for designating an asset as problematic, the process for notification, and the remedies or actions required, such as replacement, exclusion from the deal, or price adjustment. Its core function is to allocate risk and responsibility for defective or disputed assets, ensuring that both parties are aware of and can manage potential complications arising from such assets.
Problem Assets. Within thirty (30) days, the Association shall submit a detailed, written plan with specific strategies, targets and timeframes to reduce3 the Association’s levels of real estate owned (REO) and adversely classified assets (Problem Asset Reduction Plan) to the Regional Director. The Problem Asset Reduction Plan, at a minimum, shall include:
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Problem Assets. By March 31, 2011, the Association shall submit a detailed, written plan with specific 1 A modification shall be considered material under this Paragraph if the Association plans to: (a) engage in any activity that is inconsistent with the Business Plan; or (b) exceed the level of any activity contemplated in the Business Plan by more than ten percent (10%). strategies, targets and timeframes to reduce2 the Association’s level of Problem Assets3 (Problem Asset Reduction Plan) to the Regional Director. The Problem Asset Reduction Plan, at a minimum, shall include:
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Problem Assets. Effective immediately, the Association shall identify problem assets, including but not limited to:
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Problem Assets. Within thirty (30) days, the Association shall submit a detailed, written plan with specific
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Problem Assets. (1) The Bank shall take immediate and continuing action to protect its interest in those classified assets and special mention assets criticized in the ▇▇▇, in any subsequent Report of Examination, by internal or external loan review, or in any list provided to management by the National Bank Examiners during any examination. (2) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written program designed to eliminate the basis of criticism of classified assets and special mention assets equal to or exceeding two hundred fifty thousand dollars ($250,000) criticized in the ▇▇▇, in any subsequent Report of Examination, or by any internal or external loan review, or in any list provided to management by the National Bank Examiners during any examination as "doubtful," "substandard," or "special mention." This program shall include, at a minimum: (a) an identification of the expected sources of repayment; (b) the appraised value of supporting collateral and the position of the Bank's lien on such collateral where applicable, as well as other necessary documentation to support the collateral valuation; (c) an analysis of current and satisfactory credit information, including cash flow analysis where loans are to be repaid from operations; (d) results of any impairment analysis required under Accounting Standards Codification (“ASC”) 310-10; and (e) the proposed action to eliminate the basis of criticism and the time frame for its accomplishment. (3) Upon adoption, a copy of the program for all classified assets and special mention assets equal to or exceeding two hundred fifty thousand dollars ($250,000) shall be forwarded to the Assistant Deputy Comptroller. (4) The Board, or a designated committee, shall conduct a review, on at least a quarterly basis, to determine: (a) the status of each classified asset and special mention asset or criticized portion thereof that equals or exceeds two hundred fifty thousand dollars ($250,000) (with classified assets and special mention assets or criticized portions thereof that exceeds one million dollars ($1,000,000) receiving at least a monthly review); (b) management's adherence to the program adopted pursuant to this Article; (c) the status and effectiveness of the written program; and (d) the need to revise the program or take alternative action. (5) A copy of each review shall be forwarded to the Assistant Deputy Comptroller on a quarterly basis (in a format similar to A...
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Problem Assets. Within thirty (30) days, the Association shall develop individual written specific workout plans for each adversely classified loan or group of loans to individual relationships greater than two hundred and fifty thousand dollars ($250,000) (Asset Workout Plans).
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Related to Problem Assets

  • Acquired Assets On the terms and subject to the conditions set forth in this Agreement, at the Closing, Sellers shall sell, assign, transfer, convey and deliver, or cause to be sold, assigned, transferred, conveyed and delivered, to Buyer, and Buyer shall purchase and accept from Sellers, (i) all of Sellers' rights, title and interests in and to (x) all of the assets, properties, rights and claims of TG Canada relating primarily to the Gasboy line of business, and (y) all of the assets, properties, rights and claims of Gasboy, in each case excluding the Excluded Assets and the Excluded Subsidiaries ((x) and (y) being collectively referred to herein as the "Gasboy Assets") and (ii) all of Sellers' rights, title and interests in and to the Business, including all the assets, properties, rights, and claims of Sellers related to the Business including MSI (other than the Excluded Assets, the Excluded Subsidiaries and the Gasboy Assets), as the same shall exist at the Closing (such rights, title and interests in and to all such assets, properties, rights and claims described in this clause (ii) being collectively referred to herein as the "Tokheim Assets" and, together with the Gasboy Assets, the "Acquired Assets"). The sale and purchase of the Acquired Assets shall be free and clear of all Encumbrances (to the extent applicable as provided in the Sale Order), in each case other than Permitted Encumbrances and Assumed Liabilities. Notwithstanding anything to the contrary contained in this Agreement, the terms Acquired Assets, Assumed Liabilities, Excluded Assets and Excluded Liabilities do not refer to the Excluded Subsidiaries. The Acquired Assets shall include, but not be limited to, all of Sellers' rights, title and interests in and to the assets, properties, rights and claims described in the following clauses (a) through (m) below (except as expressly excluded under Section 1.2 below): (a) All of those items of equipment, machinery, vehicles, tooling, dies, accessories, furniture and other tangible personal property owned by Sellers listed or referred to on Schedule 1.1(a) (which Schedule may include items that are subject to capitalized leases) and any other tangible personal property acquired by Sellers in the ordinary course of business consistent with past practice after the date hereof but prior to the Closing in connection with the Business (collectively, the "Personal Property"). As used in this Agreement, the Personal Property shall not include the fixtures located on real property not included in Real Property or Inventory. (b) All supplies, goods, materials, work in process, inventory and stock in trade owned by Sellers for use or sale in the ordinary course of the Business (collectively, the "Inventory"). (c) The owned real property described on Schedule 1.1

  • The Properties Attached hereto as Schedule I is the description of certain Land (the "Subject Property"). Effective upon the execution and delivery of this Lease Supplement by Lessor and Lessee, such Land, together with any Building and other improvements thereon or which thereafter may be constructed thereon shall be subject to the terms and provisions of the Lease and Lessor hereby grants, conveys, transfers and assigns to the Related Lessee those interests, rights, titles, estates, powers and privileges provided for in the Lease with respect to the Subject Property.

  • Customer Equipment “Customer Equipment” means any Customer-owned or provided software, hardware or services that you elect to use in connection with the Service(s). You agree to allow us and our agents the rights to insert CableCARDs and other hardware in the Customer Equipment, send software and/or downloads to the Customer Equipment and install, configure, maintain, inspect and upgrade the Customer Equipment. You warrant you are either the owner of the Customer Equipment or that you have the authority to give us access to the Customer Equipment. You should call Customer Service at ▇-▇▇▇-▇▇▇-▇▇▇▇ to find out if it meets our technical, security and other requirements. We reserve the right to disallow the use of Customer Equipment that we determine is not compatible with our network. We shall have no obligation to provide, maintain, or service Customer Equipment, including, but not limited to, Customer Equipment to which the Company or a third party has sent software or downloads. If you use Customer Equipment, you agree that the following limitation of liability shall apply: THE COMPANY DOES NOT WARRANT THAT CUSTOMER EQUIPMENT WILL ENABLE YOU TO SUCCESSFULLY INSTALL, ACCESS, OPERATE, OR USE THE SERVICE(S). YOU ACKNOWLEDGE THAT ANY SUCH INSTALLATION, ACCESS, OPERATION, OR USE COULD CAUSE CUSTOMER EQUIPMENT TO FAIL TO OPERATE OR COULD CAUSE DAMAGE TO CUSTOMER EQUIPMENT, YOU, YOUR PREMISES OR COMPANY EQUIPMENT. NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES, SUPPLIERS OR AGENTS SHALL HAVE ANY LIABILITY WHATSOEVER FOR ANY SUCH FAILURE OR DAMAGE, INCLUDING LACK OF 911/E911 CAPABILITY OR DIALING ASSOCIATED WITH A SECURITY SYSTEM. YOUR USE OF CUSTOMER EQUIPMENT MAY PREVENT PROVISION OF SERVICE. The foregoing limitation of liability is in addition to and shall not limit any other limitation of liability set forth in this Agreement.

  • Materials and Equipment ‌ Material means property that may be consumed or expended during performance, component parts of a higher assembly, or items that lose their individual identity through incorporation into an end item. Equipment means a tangible item that is functionally complete for its intended purpose, durable, nonexpendable, and needed for performance. Materials and Equipment shall be priced in accordance with the terms of the task order award, contract type, and applicable FAR and agency-specific regulatory supplements. Unless otherwise directed by task order terms and conditions, the Contractor may apply indirect costs to materials and equipment consistent with the Contractor’s usual accounting practices.

  • Condition of the Contractor’s Property or Equipment The Contractor shall make the Property and/or equipment available to the Judicial Council, pursuant to the terms and conditions set forth in this Agreement. The Contractor shall immediately remedy any problem with the Property’s physical plant or equipment that impairs or diminishes the quality of the Program. The Contractor shall ensure the appropriate hot water, heating, and ventilation is provided at the Property during the Program, inclusive in the prices set forth herein.