Applicable Collateral Percentage Clause Samples
Applicable Collateral Percentage. Effective as of January 1, 2002, the defined term "Applicable Collateral Percentage" is hereby amended by adding the following to the end thereof: "; provided, however, if at any time the aggregate outstanding principal amount of Advances exceeds $200 million, the "98%" contained in clauses (a)(1) and (b)(1) shall automatically be changed to 95% with respect to any and all Mortgage Loans Pledged to the Lender in connection with the Advents that results in the aggregate outstanding principal amount of Advances exceeding $200 million and each pledge of Mortgage Loans made during the period of time in which the aggregate outstanding principal amount of Advances exceeds $200 million (and such change shall remain effective with inspect to the relevant Mortgage Loans even after the aggregate outstanding principal amount of Advances is $200 million or less)."
Applicable Collateral Percentage. First Lien Loan that is a Performing Loan and has been included in the Borrowing Base for 120 days or less 97 % First Lien Loan that is a Performing Loan and has been included in the Borrowing Base for longer than 120 days but less than 270 days 85 % Second Lien Loan that is a Performing Loan and has been included in the Borrowing Base for 120 days or less 97 % Second Lien Loan that is a Performing Loan and has been included in the Borrowing Base for longer than 120 days but less than 270 days 85 % First Lien Loan or Second Lien Loan that is a Class A Defaulted Loan and has been included in the Borrowing Base for 120 days or less 80 % First Lien Loan or Second Lien Loan that is a Class B Defaulted Loan and has been included in the Borrowing Base for 120 days or less 75 % First Lien Loan or Second Lien Loan that is a Class C Defaulted Loan, prior to receipt by the Lender of a BPO for such Class C Defaulted Loan and has been included in the Borrowing Base for 364 days or less 50 % First Lien Loan or Second Lien Loan that is a Class C Defaulted Loan, after receipt by the Lender of a BPO for such Class C Defaulted Loan and has been included in the Borrowing Base for 364 days or less 65 % First Lien Loan or Second Lien Loan that is a Class A Defaulted Loan or a Class B Defaulted Loan and has been included in the Borrowing Base for longer than 120 days but less than 270 days 50 %