Specified Exception definition

Specified Exception means that the investment funds/vehicles that are managed by the Group Members and the general partner entities of such funds and vehicles have not been, and will not be, consolidated or otherwise included in the financial statements of the Group Members, as may otherwise be required in accordance with generally accepted accounting principles in effect from time to time in the United States of America.
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Specified Exception has the meaning specified in the definition of Material Subsidiary.
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Specified Exception means a step-up in the Leverage Ratio the Borrower is required to maintain at all times pursuant to Section 6.1 from a maximum of 8.5:1.0 to a maximum of 9.0:1.0.
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Examples of Specified Exception in a sentence

  • Such special purpose financial statements will be prepared for purposes of complying with this Agreement and are not intended to be a complete and fair presentation of such Apollo Management Companies financial statements in conformity with GAAP by virtue of the Specified Exception.

  • The Borrower will maintain, as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on December 31, 2014, a Leverage Ratio of not greater than 8.5:1.0; provided that, upon the consummation of a Permitted Acquisition, subject to compliance with the Specified Exception Conditions, the Borrower may elect to take a Specified Exception to the Leverage Ratio, with such Specified Exception to be effective only during the Specified Exception Effective Period.

  • Such special purpose financial statements will be prepared for purposes of complying with this Agreement and are not intended to be a complete and fair presentation of such Apollo Management Companies financial statements in conformity with GAAP, by virtue of the Specified Exception.


More Definitions of Specified Exception

Specified Exception as defined in Section 3.1(b).
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Related to Specified Exception

  • Permitted Exception means (a) liens for Taxes and other governmental charges and assessments which are not yet due and payable, (b) liens of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due and payable, (c) other liens or imperfections on property which are not material in amount or do not materially detract from the value or the existing use of the property affected by such lien or imperfection, (d) such statements of fact and exceptions shown on any title insurance policies delivered to Global.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Specified Exchange means the Australian Stock Exchange, the Johannesburg Stock Exchange, the London Stock Exchange Main Market, the Nasdaq Stock Market, the New York Stock Exchange, or the Hong Kong Stock Exchange;

  • Specified Exchange Date means the first business day of the month that is at least 60 business days after the receipt by the General Partner of the Notice of Exchange.

  • Title Objection shall have the meaning assigned thereto in Section 8.5.