Covered Portfolio definition

Covered Portfolio has the meaning set out in Section 2(a).

Covered Portfolio means and include each Insured Obligation as of the Effective Date and each Insured Obligation issued thereafter and prior to the Loss Threshold Incurrence Date other than any Insured Obligation which is excluded from the Covered Portfolio pursuant to Section 12.13.

Covered Portfolio means the portfolio of Subject Company Loans and Subject Company Investments listed and more particularly described in Exhibit A hereto.

Examples of Covered Portfolio in a sentence

• Inquiries and the nature of the inquiries are collected, analyzed, and reported to management.

• For the avoidance of doubt, and notwithstanding anything in this Agreement to the contrary, the Parties’ rights and obligations under this Agreement shall arise with respect to each Covered Portfolio only upon the Acquisition Date of each Covered Portfolio.

• The Covered Portfolio included 95% of BAM’s policies issued through December 31, 2017, which consisted of approximately 73% of gross par in force for BAM's portfolio of financial guaranty policies as of December 31, 2018.

• In respect of each Covered Transaction that is not a Covered Portfolio Swaption, (A) the Cash Settlement Date under the Covered Transaction or the Cash Settlement Date in respect of the Landsbanki Portion, as applicable, shall be the Cash Settlement Date specified in the Auction Methodology, and (B) in respect of each Covered Portfolio Swaption, the Cash Settlement Date shall be as set out under clause (f) "Portfolio Swaptions" below.

• Parent shall, and shall cause its Affiliates to, keep true, complete and accurate records in sufficient detail with respect to the Updated Covered Portfolio to enable the Rights Agent and the Acting Holders and their consultants and professional advisors to confirm the applicable CER Consideration payable to each Holder hereunder in accordance with the terms specified in this Agreement.

More Definitions of Covered Portfolio

Covered Portfolio means and include each Insured Obligation outstanding on the Restatement Agreement Date and each Insured Obligation issued thereafter and prior to the date of the first Loan (or such later date to which the Agent and the Majority Banks may consent in writing), other than (a) Insured Obligations listed on Exhibit E hereto, (b) additional Insured Obligations which MBIA hereafter elects in writing to exclude from the Covered Portfolio with the prior written consent of the Agent and the Majority Banks (which writing and consent shall be deemed to constitute an amendment supplementing Exhibit E hereto and shall not be unreasonably withheld); provided that no additional Insured Obligations shall become part of the Covered Portfolio from and after the date on which any Bank has given a notice to MBIA pursuant to Section 7.2(b) hereof as a result of the occurrence of an Event of Default, and (c) any Insured Obligation which any Bank or any Participant is obligated to purchase under the terms of a line of credit, standby bond purchase agreement, letter of credit, liquidity agreement or similar agreement or arrangement; provided, further, that at no time shall the Covered Portfolio contain industrial development bonds having an aggregate Average Annual Debt Service exceeding one percent (1%) of the Average Annual Debt Service on the entire Covered Portfolio. For the avoidance of doubt, the Covered Portfolio shall include all Insured Obligations in the Tranche B Covered Portfolio.

Covered Portfolio means the portfolio of Subject Company Loans and Subject Company Investments listed and more particularly described in Exhibit A hereto. 7 Note: Include only if the MREC TE Merger is consummated. 8 Note: Include only if the MREC IIS Merger is consummated. 9 Note: Include only if the MREC TE Merger is consummated. 10 Note: Include only if the MREC IIS Merger is consummated.

Covered Portfolio means the portfolio of Subject Company Loans and Subject Company Investments listed and more particularly described in Sections 4.07(a) and 4.07(b) of the Mosaic Disclosure Schedules.

Covered Portfolio means and include each Insured ----------------- Obligation outstanding on the Effective Date and each Insured Obligation issued thereafter and prior to the date of the first Loan (or such later date to which the Agent and the Majority Banks may consent in writing), other than (a) Insured Obligations listed on Exhibit E hereto, (b) additional Insured Obligations which MBIA hereafter elects in writing to exclude from the Covered Portfolio with the prior written consent of the Agent and the Majority Banks (which writing and consent shall be deemed to constitute an amendment supplementing Exhibit E hereto and shall not be unreasonably withheld); provided that no additional -------- Insured Obligations shall become part of the Covered Portfolio from and after the date on which any Bank has given a notice to MBIA pursuant to Section 7.2(b) hereof as a result of the occurrence of an Event of Default; and (c) any Insured Obligation which any Bank or any Participant is obligated to purchase under the terms of a line of credit, standby bond purchase agreement, letter of credit, liquidity agreement or similar agreement or arrangement; provided, further, that -------- ------- at no time shall the Covered Exhibit A to Second Amended and Restated Credit Agreement ---------------------------------------------------------

Covered Portfolio. Cumulative Losses", "Commitment Period", "Default", "Effective Date", "Event of Default", "Insured Obligations", "Lien", "Loan", "Loan Documents", "Majority Banks", "Maximum Commitment", "MBIA Event of Insolvency", "Note", "Participant", "Person", "Pledged Premiums" and "Pledged Recoveries" defined in the Credit Agreement are used herein with the meanings therein given, whether or not the Credit Agreement is otherwise in effect.

Covered Portfolio means and include each Insured Obligation outstanding on the Effective Date then in effect and each Insured Obligation issued thereafter and prior to the Loss Threshold Incurrence Date, other than Excluded Insured Obligations; provided that (i) an Insured Obligation shall have met the Covered Portfolio Guidelines when it was first included in the Covered Portfolio (and otherwise shall be excluded therefrom) and (ii) no additional Insured Obligations shall become part of the Covered Portfolio from and after the date on which any Lender has given a notice to the Borrower pursuant to Section 7.2(b) hereof as a result of the occurrence of an Event of Default.

Covered Portfolio shall have the meaning given to such term in the Contingent Equity Rights Agreement, dated the date hereof, by and among Ready Capital, the Operating Partnership and [●].