Common use of Calculation of Discount Factor Clause in Contracts

Calculation of Discount Factor. (a) In connection with the purchase of each Collateral Obligation and prior to such Collateral Obligation being purchased by the Borrower and included in the Collateral, the Facility Agent will assign (in its sole discretion) a Discount Factor for such Collateral Obligation, which Discount Factor shall remain effective for such Collateral Obligation except as provided in clause (b) below. (b) If a Revaluation Event occurs with respect to any Collateral Obligation, the Discount Factor of such Collateral Obligation may be amended by the Facility Agent, in its sole discretion. The Facility Agent will provide written notice of the revised Discount Factor to the Borrower and the Servicer (who shall forward to the Collateral Agent). To the extent the Servicer has actual knowledge or has received notice of any Revaluation Event with respect to any Collateral Obligation, the Servicer shall give prompt notice thereof to the Facility Agent with a copy to the Collateral Agent (but, in any event, not later than two Business Days after it receives notice or gains actual knowledge thereof). (c) If the circumstances giving rise to any Revaluation Event with regard to any Collateral Obligation cease to be applicable, the Servicer may provide written notice of such changed circumstance to the Facility Agent (with a copy to the Collateral Agent), and if no Revaluation Event shall then be continuing for such Collateral Obligation, the Facility Agent may assign a new Discount Factor for such Collateral Obligation in its sole discretion as set forth in clause (a) above.

Calculation of Discount Factor. (a) In connection with the purchase of each Collateral Obligation and prior to such Collateral Obligation being purchased by the Borrower and included in the Collateral, the Facility Agent will assign (in its sole discretion) a Discount Factor for such Collateral Obligation, which Discount Factor shall (x) not exceed 100% of the par value (excluding any deferred or capitalized interest) of such Collateral Obligation and (y) remain effective for such Collateral Obligation except as provided in clause (b) below. (b) If a Revaluation Event occurs with respect to any Collateral Obligation, the Discount Factor of such Collateral Obligation may be amended by the Facility Agent, in its sole discretion, but shall not, in any event, exceed 100% of the par value (excluding any deferred or capitalized interest) of such Collateral Obligation. The Facility Agent will provide written notice of the revised Discount Factor to the Borrower and the Servicer (who shall forward for delivery to each Agent, the Collateral AgentAgent and the Collateral Administrator in accordance with Section 17.3). To the extent the Servicer has actual knowledge or has received notice of any Revaluation Event with respect to any Collateral Obligation, the Servicer shall give prompt notice thereof to the Facility Agent with a copy to the Collateral Agent (but, in any event, not later than two Business Days after it receives notice or gains actual knowledge thereof). (c) If the circumstances giving rise to any Revaluation Event with regard to any Collateral Obligation cease to be applicable, the Servicer may provide written notice of such changed circumstance circumstances to the Facility Agent (with a copy to the Collateral Agent), and if no Revaluation Event shall then be continuing for such Collateral Obligation, the Facility Agent may assign a new shall re-evaluate the Discount Factor for such Collateral Obligation in its sole discretion Obligation. (d) The Servicer shall notify the Collateral Administrator of the selection of the Discount Factor or any modification thereto as set forth in clause (a) abovethis Section 2.7.

Calculation of Discount Factor. (a) In connection with the purchase of each Collateral Obligation and prior to such Collateral Obligation being purchased by the Borrower and included in the Collateral, the Facility Agent will assign (in its sole discretion) a Discount Factor for such Collateral Obligation, which Discount Factor shall remain effective for such Collateral Obligation except as provided in clause (b) below. (b) If a Revaluation Event occurs with respect to any Collateral Obligation, the Discount Factor of such Collateral Obligation may be amended by the Facility Agent, in its sole discretion. The Facility Agent will provide written notice of the revised Discount Factor to the Borrower and the Servicer (who shall forward to the Collateral Agent). To the extent the Servicer has actual knowledge or has received notice of any Revaluation Event with respect to any Collateral Obligation, the Servicer shall give prompt notice thereof to the Facility Agent with a copy to the Collateral Agent (but, in any event, not later than two Business Days after it receives notice or gains actual knowledge thereof). (c) If the circumstances giving rise to any Revaluation Event with regard to any Collateral Obligation cease to be applicable, the Servicer may provide written notice of such changed circumstance to the Facility Agent (with a copy to the Collateral Agent), and if no Revaluation Event shall then be continuing for such Collateral Obligation, the Facility Agent USActive 58353885.2 may assign a new Discount Factor for such Collateral Obligation in its sole discretion as set forth in clause (a) above.

Calculation of Discount Factor. (a) In connection with the purchase of each Collateral Obligation and prior to such Collateral Obligation being purchased by the Borrower and included in the Collateral, the Facility Agent will assign (in its sole discretion) a Discount Factor for such Collateral Obligation; provided, which that, such Discount Factor shall remain effective for not exceed the lesser of (i) the Purchase Price or (ii) 100% of the par value of each such Collateral Obligation except as provided in clause (b) belowObligation. (b) If a Revaluation Event occurs with respect to any Collateral Obligation, the Discount Factor of such Collateral Obligation may be amended by the Facility Agent, Agent (in its sole discretion). The Facility Agent will provide written notice of the revised Discount Factor to the Borrower and the Servicer (who shall forward to Borrower, the Collateral Agent), each Lender (via the Collateral Agent’s Website) and the Servicer. To the extent the Servicer has actual knowledge or has received notice of any Revaluation Event with respect to any Collateral Obligation, the Servicer shall give prompt notice thereof to the Facility Agent with a copy to the Collateral Agent (but, in any event, not later than two Business Days after it receives notice or gains actual knowledge thereof)Agent. (c) If the circumstances giving rise to any Revaluation Event with regard to any Collateral Obligation cease to be applicable, the Servicer may provide written notice of such changed circumstance to the Facility Agent (with a copy to the Collateral Agent), and if no Revaluation Event shall then be continuing for such Collateral Obligation, the Facility Agent may assign a new shall in good faith re-evaluate the Discount Factor for such Collateral Obligation; provided that the Discount Factor shall not exceed the Discount Factor previously assigned to such Collateral Obligation in its sole discretion as set forth in pursuant to clause (a) above.

Calculation of Discount Factor. (a) In connection with the purchase of each Collateral Obligation and prior to such Collateral Obligation being purchased by the Borrower and included in the Collateral, the Facility Agent will assign (in its sole discretion) a Discount Factor for such Collateral Obligation, which Discount Factor shall remain effective for such Collateral Obligation except as provided in clause clauses (b) belowthrough (d) below (and will provide written notice of such Discount Factor to the Servicer). (b) If a Revaluation Event occurs with respect to any Collateral Obligation, the Discount Factor of such Collateral Obligation may be amended by the Facility Agent, in its sole discretion. The Facility Agent will provide written notice of the revised Discount Factor to the Borrower and the Servicer (who shall forward to the Collateral Agent)Servicer. To the extent the Servicer has actual knowledge or has received notice of any Revaluation Event with respect to any Collateral Obligation, the Servicer shall give prompt notice thereof to the Facility Agent with a copy to the Collateral Agent (but, in any event, not later than two Business Days after it receives notice or gains actual knowledge thereof). (c) If the circumstances giving rise to any Revaluation Event with regard respect to any Collateral Obligation cease to be applicablechange, the Servicer may provide written notice of such changed circumstance to the Facility Agent (with a copy to the Collateral Agent), and if no Revaluation Event shall then be continuing for such Collateral Obligation, the Facility Agent may assign a new shall in its sole discretion re-evaluate the Discount Factor for such Collateral Obligation in its sole discretion as set forth in clause (a) aboveObligation.