Collateral Valuation Covenant. (a) On each Business Day (as of the close of business on such day), the Borrower shall in good faith (i) calculate the Advance Amount using the Moody's Valuation Procedures using the most recent Market Value for eacx Xxxx Investment as determined in accordance with the Moody's Collateral Valuation Schedule and (ii) calculate the Advance Amxxxx xxing the S&P Valuation Procedures using the most recent Market Value for each Fund Investment in accordance with the terms of the S&P Collateral Valuation Schedule; provided that for the purposes of this Agreement, the Advance Amount shall at all times be the lesser of the Advance Amounts calculated in accordance with clauses (i) and (ii) above. The Market Value of each Fund Investment shall be calculated by the Borrower (i) for purposes of the Moody's Valuation Procedures, as set forth in the Moody's Collateral Vaxxxxxxx Schedule and (ii) for purposes of the S&P Xxxxxxxon Procedures, as set forth in the S&P Collateral Valuation Schedule.
(b) Within ten (10) Business Days of each Reporting Date, the Borrower shall furnish to Moody's, S&P and the Administrative Agent (which shall furnish to each Xxxxxx) a written statement (in excel format) substantially in the form of Exhibit J hereto (a "Valuation Statement") certified by the Borrower as of such Reporting Date, which shall include, in addition to other matters specified in such Exhibit J:
(i) a schedule of all Fund Investments by issue and by Asset Category included in the determination of the Advance Amount, setting forth:
(1) the current Market Value of each such Fund Investment and the original cost of each such Fund Investment;
(2) the written quotations from Approved Dealers, closing price or closing bid price on an Approved Exchange, and any Approved Third-Party Appraisal or quotation from an Approved Investment Banking Firm or other means used for calculating the Market Value of each such Fund Investment;
(3) to the extent applicable, information as to rating, maturity, the Yield-to-Worst, and whether each such Fund Investment was Performing; and
(4) the percentages applied to each such Fund Investment to derive the portion of the Advance Amount attributable to each such Fund Investment;
(ii) a schedule of all Unquoted Investments owned by the Borrower, setting forth the Market Value of each such Unquoted Investment and the date of the determination of such Market Value, its Asset Category, its cost and, when applicable, the value provided by an Approved Thi...
Collateral Valuation Covenant. 37 Section 6.1.2 Information, etc.............................................................40 Section 6.1.3 Maintenance of Borrower's Existence, etc.....................................41 Section 6.1.4 Foreign Qualification........................................................41 Section 6.1.5 Payment of Taxes and Other Claims............................................41 Section 6.1.6 Insurance....................................................................42 Section 6.1.7 Notice of Default, Litigation, etc...........................................42 Section 6.1.8 Performance of Obligations...................................................42 Section 6.1.9 Audits; Books and Records....................................................43 Section 6.1.10 Compliance with Laws, etc....................................................43 Section 6.1.11
Collateral Valuation Covenant. 34 Section 6.1.2 Information, etc.............................................................37 Section 6.1.3 Maintenance of Borrower's Existence, etc.....................................38 Section 6.1.4 Foreign Qualification........................................................38 Section 6.1.5 Payment of Taxes and Other Claims............................................39 Section 6.1.6 Insurance....................................................................39 Section 6.1.7 Notice of Default, Litigation, etc...........................................39 Section 6.1.8 Performance of Obligations...................................................40 Section 6.1.9 Audits; Books and Records....................................................40 Section 6.1.10 Compliance with Laws, etc....................................................40 Section 6.1.11 Environmental Matters........................................................41 Section 6.1.12 Maintenance of Property......................................................41
