Bankruptcy Exchanges; Permitted Uses. At any time during or after the Reinvestment Period, the Collateral Manager may direct the Trustee to (i) enter into a Bankruptcy Exchange subject to the limitations contained in the definition of “Bankruptcy Exchange”, but not subject to the Investment Criteria; or (ii) apply amounts on deposit in the Reserve Account (as directed by the Collateral Manager in its sole discretion) and/or any Additional Junior Notes Proceeds to one or more Permitted Uses. Any such transaction or exchange shall not constitute a sale under this Indenture or be subject to the Investment Criteria.
Bankruptcy Exchanges; Permitted Uses. At any time during or after the Reinvestment Period, the Portfolio Manager may direct the Trustee to enter into a Bankruptcy Exchange or apply amounts on deposit in the Contribution Account (as directed by the related Contributor or, if no such direction is given by the Contributor, as directed by the Portfolio Manager in its sole discretion) and/or any proceeds from the issuance of Junior Mezzanine Notes in accordance with Section 2.4 to one or more Permitted Uses.
