Borrowing Base Deficiency Cures. (a) Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions in the aggregate amount necessary to cure such Borrowing Base Deficiency: (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; provided that (x) 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 and (y) the use of this clause (iii) to cure a Borrowing Base Deficiency during the Amortization Period shall be subject to the approval of the Administrative Agent in its sole discretion.
Appears in 3 contracts
Samples: Loan and Security Agreement (Oaktree Specialty Lending Corp), Loan and Security Agreement (Oaktree Strategic Income II, Inc.), Loan and Security Agreement (Fifth Street Senior Floating Rate Corp.)
Borrowing Base Deficiency Cures. (a) Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions in the aggregate amount necessary to cure such Borrowing Base Deficiency:
(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; provided that (x) 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 and (y) the use of this clause (iii) to cure a Borrowing Base Deficiency during the Amortization Period shall be subject to the approval of the Administrative Agent in its sole discretion.Base
Appears in 1 contract
Samples: Loan and Security Agreement (Oaktree Specialty Lending Corp)
Borrowing Base Deficiency Cures. (a) Any Borrowing Base Deficiency may be cured by the Borrower taking one or more of the following actions in the aggregate amount necessary to cure such Borrowing Base Deficiency:
(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; provided that (x) 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 and (y) the use of this clause (iii) to cure a Borrowing Base Deficiency during the Amortization Period shall be subject to the approval of the Administrative Agent in its sole discretion.
Appears in 1 contract
Samples: Loan and Security Agreement (Oaktree Specialty Lending Corp)
