Common use of Borrowing Base Deficiency Cures Clause in Contracts

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing Loan; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii) or (iii) of this Section 2.6 (or by any other action with the prior written consent of the Administrative Agent). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and certification by the Borrower that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing Loan; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii) or (iii) of this Section 2.6 (or by any other action with the prior written consent of the Administrative Agent). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and written certification by the Borrower (which may be by email) that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing LoanCollateral; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii) or (iii) of this Section 2.6 (or by any other action with the prior written consent of the Administrative AgentControlling Lender and the Required Lenders). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and certification by the Borrower that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. (a) Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash cash into the Principal Collection Account, including any cash contributed by the Equityholder; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); orand/or (iii) posting additional Eligible Borrowing Base Cure Assets, Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing Loan; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible LoansCollateral. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii) or (iii) of the applicable clauses in this Section 2.6 (or by any other action with the prior written consent of the Administrative AgentAgent and the Required Lenders). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (ia)(i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account or from Principal Collections in the Canadian Dollar Account, the Euro Account or the GBP Account and certification by the Borrower that immediately after giving effect to the return of any such Cashcash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash cash so deposited in the Principal Collection Account, the Canadian Dollar Account, the Euro Account or the GBP Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or; (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing Loan; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans; or (iv) selling Loans and/or purchasing Loans in accordance with Section 2.14 if such sales and/or purchases, together with any other combination of actions under this Section 2.6 will cure such event; provided that the sale proceeds of any Loan sold pursuant to this clause (iv) that has not settled in Cash within twenty (20) Business Days of its respective trade date shall no longer be included in the determination of whether any Borrowing Base Deficiency has been cured. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii), (iii) or (iiiiv) of this Section 2.6 (or by any other action with the USActive 57310676.6USActive 60324964.3 prior written consent of the Administrative Agent). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and written certification by the Borrower (which may be by email) that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); (iii) solely with respect to a Class A Borrowing Base Deficiency, drawing a Class B Advance in accordance with Sections 2.1(b) and 2.2; or (iiiiv) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing LoanCollateral; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans. For the avoidance of doubt, the Borrower may cure a Class A Borrowing Base Deficiency by any combination of (i), (ii), (iii) or (iiiiv) of this Section 2.6 (or by any other action with the prior written consent of the Administrative AgentControlling Lender) and the Borrower may cure a Class B Borrowing Base Deficiency by any combination of (i), (ii) or (iv) of this Section 2.6 (or by any other action with the prior written consent of the Class B Lenders holding a majority of the Class B Commitments or, if the Class B Commitments are terminated, the Class B Advances Outstanding). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent Trustee to release such funds from the Principal Collection Account and certification by the Borrower that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent Trustee shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available FundsBorrower.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or; (iii) posting additional Eligible Loans Investments and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan Investment for an existing LoanPortfolio Investment; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional or substituted Eligible Loans Investments shall be the Adjusted Borrowing Value of such Eligible LoansInvestments; or (iv) selling all or a portion of an Eligible Investment that is the subject of the Assigned Value Adjustment Event, in consideration for an amount equal to the fair value of such Portfolio Investment or the pro rata portion thereof, as applicable. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii), (iii) or (iiiiv) of this Section 2.6 (or by any other action with the prior written consent of the Administrative AgentControlling Lender). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and written certification by the Borrower (which may be by email, and which certification shall be deemed given upon delivery by the Borrower (or the Collateral Manager on its behalf) of the aforementioned request) that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing LoanCollateral; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii) or (iii) of this Section 2.6 (or by any other action with the prior written consent of the Administrative AgentAgent and the Required Lenders). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and certification by the Borrower that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.

Borrowing Base Deficiency Cures. Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions: (i) crediting Cash into the Principal Collection Account; (ii) repaying the applicable Advances Outstanding in accordance with Section 2.3(b); or; (iii) posting additional Eligible Loans and/or Permitted Investments as Collateral or effecting a Substitution of a new Eligible Loan for an existing Loan; provided that the amount of any reduction of a Borrowing Base Deficiency pursuant to any such additional Eligible Loans shall be the Adjusted Borrowing Value of such Eligible Loans; or (iv) selling Loans and/or purchasing Loans in accordance with Section 2.14 if such sales and/or purchases, together with any other combination of actions under this Section 2.6 will cure such event; provided that the sale proceeds of any Loan sold pursuant to this clause (iv) that has not settled in Cash within twenty (20) Business Days of its respective trade date shall no longer be included in the determination of whether any Borrowing Base Deficiency has been cured. For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency by any combination of (i), (ii), (iii) or (iiiiv) of this Section 2.6 (or by any other action with the prior written consent of the Administrative Agent). Notwithstanding any other provisions of this Agreement, if the Borrower has eliminated a Borrowing Base Deficiency pursuant to clause (i) of this Section 2.6, upon written request of the Borrower to the Collateral Agent to release such funds from the Principal Collection Account and written certification by the Borrower (which may be by email) that immediately after giving effect to the return of any such Cash, no Borrowing Base Deficiency will exist, the Borrower shall be permitted the return of all or a portion of the Cash so deposited in the Principal Collection Account and the Collateral Agent shall pay the amount so requested to the Borrower and, for the avoidance of doubt, such amount shall not constitute Available Funds.