Special Purpose Entity

Special Purpose Entity. An entity formed for the sole purpose of owning the Pledged Securities, and whose organizational documents (a) prohibit it from (i) engaging in any activity other than owning the Pledged Securities and matters related thereto and (ii) incurring no debt other than the Obligations and trade payables in the ordinary course of business not to exceed 2% of the amount of the Loan which are not evidence by a note, are not secured, and are paid when due and (b) contain the Special Purpose Provisions as... defined and set forth in the Operating Agreement View More

Special Purpose Entity. An entity formed for the sole purpose of owning the Property, and whose organizational documents prohibit it from (a) engaging in any activity other than owning the Property and matters related thereto, (b) incurring no debt other than the Obligations and trade payables in the ordinary course of business not to exceed two percent (2%) of the amount of the Loan which are not evidenced by a note, are not secured, and are paid when due

Special Purpose Entity. Means an entity that holds or would hold only Securities of the Company or has or would have a class or series of securityholders with beneficial interests primarily in Securities of the Company (including for such purpose an entity that holds cash and/or cash equivalents intended to purchase such Securities).