Common use of Borrowing Base Deficiency Cures Clause in Contracts

Borrowing Base Deficiency Cures. (i) In addition to any other obligation of the Borrower to cure any Borrowing Base Deficiency (Aggregate) pursuant to the terms of this Agreement, if any Borrowing Base Deficiency exists, then the Borrower may eliminate such Borrowing Base Deficiency in its entirety by effecting one or more (or any combination thereof) of the following actions: (A) deposit into or credit to the Collection Account cash and Eligible Investments, (B) repay Advances (together with all accrued and unpaid costs and expenses of the Agents, Document Custodian, Collateral Administrator, Securities Intermediary and the Lenders for which the Borrower has received a reasonably detailed invoice prior to such date of repayment, in each case in respect of the amount so repaid), (C) sell Collateral Assets in accordance with Article X, and/or (D) during the Reinvestment Period, pledge additional Collateral Assets as Collateral. For the avoidance of doubt, no Prepayment Fee shall be required in connection with any prepayment of an Advance made to cure a Borrowing Base Deficiency.

Appears in 2 contracts

Samples: Credit and Security Agreement (LGAM Private Credit LLC), Credit and Security Agreement (LGAM Private Credit LLC)

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Borrowing Base Deficiency Cures. (i) In addition to any other obligation of the Borrower to cure any Borrowing Base Deficiency (Aggregate) pursuant to the terms of this Agreement, if any Borrowing Base Deficiency exists, then the Borrower may eliminate such Borrowing Base Deficiency in its entirety by effecting one or more (or any combination thereof) of the following actions: (A) deposit into or credit to the Collection Account cash and Eligible Investments, (B) repay Advances (together with all accrued and unpaid costs and expenses of the Agents, Document Custodian, Collateral Administrator, Securities Intermediary and the Lenders for which the Borrower has received a reasonably detailed invoice prior to such date of repayment, in each case in respect of the amount so repaid), (C) sell Collateral Assets Loans in accordance with Article X, and/or or (D) during the Reinvestment Period, pledge additional Collateral Assets Loans as Collateral. For the avoidance of doubt, no Prepayment Fee shall be required in connection with any prepayment of an Advance made to cure a Borrowing Base Deficiency.

Appears in 2 contracts

Samples: Credit and Security Agreement (Blackstone Private Credit Fund), Credit and Security Agreement (Blackstone Private Credit Fund)

Borrowing Base Deficiency Cures. (i) In addition to any other obligation of the Borrower to cure any Borrowing Base Deficiency (Aggregate) pursuant to the terms of this Agreement, if any Borrowing Base Deficiency exists, then the Borrower may eliminate such Borrowing Base Deficiency in its entirety by effecting one or more (or any combination thereof) of the following actions: (A) deposit into or credit to the Collection Account cash and Eligible Investments, (B) repay Advances (together with all accrued and unpaid costs and expenses of the Agents, Document Custodian, Collateral Administrator, Securities Intermediary and the Lenders for which the Borrower has received a reasonably detailed invoice prior to such date of repayment, in each case in respect of the amount so repaid), (C) sell Collateral Assets LoansAssets in accordance with Article X, and/or (D) during the Reinvestment Period, pledge additional Collateral Assets LoansAssets as Collateral. For the avoidance of doubt, no Prepayment Fee shall be required in connection with any prepayment of an Advance made to cure a Borrowing Base Deficiency.

Appears in 1 contract

Samples: Credit and Security Agreement (Apollo Debt Solutions BDC)

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Borrowing Base Deficiency Cures. (i) In addition to any other obligation of the Borrower to cure any Borrowing Base Deficiency (Aggregate) pursuant to the terms of this Agreement, if any Borrowing Base Deficiency exists, then the Borrower may eliminate such Borrowing Base Deficiency in its entirety by effecting one or more (or any combination thereof) of the following actions: (A) deposit into or credit to the Collection Account cash and Eligible Investments, (B) repay Advances (together with all accrued and unpaid costs and expenses of the Agents, Document Custodian, Collateral Administrator, Securities Intermediary and the Lenders for which the Borrower has received a reasonably detailed invoice prior to such date of repayment, in each case in respect of the amount so repaid), (C) sell Collateral Assets Loans in accordance with Article X, and/or (D) during the Reinvestment Period, pledge additional Collateral Assets Loans as Collateral. For the avoidance of doubt, no Prepayment Fee shall be required in connection with any prepayment of an Advance made to cure a Borrowing Base Deficiency.

Appears in 1 contract

Samples: Credit and Security Agreement (Apollo Debt Solutions BDC)

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