Concentration Limitations. The “Concentration Limitations” shall be satisfied on any date of determination if, in the aggregate, the Portfolio Investments owned (or in relation to a proposed Purchase of a Portfolio Investment, proposed to be owned) by the Company comply with all the requirements set forth below:
Concentration Limitations. The “Concentration Limitations” shall be satisfied on any date of determination if, in the aggregate, the Portfolio Investments (other than any Ineligible Investments) owned (or in relation to a proposed purchase of a Portfolio Investment, proposed to be owned) by the Company comply with all the requirements set forth below:
1. Portfolio Investments issued by a single obligor and its affiliates may not exceed an aggregate principal balance equal to 4% of the Collateral Principal Amount; provided that Portfolio Investments which are Senior Secured Loans issued by three (3) obligors and their respective affiliates may each constitute up to an aggregate principal balance equal to 6% of the Collateral Principal Amount, so long as any Portfolio Investment (or portion thereof) that causes the aggregate principal balance of the Portfolio Investments issued by either such obligor or its Affiliates to exceed 4% of the Collateral Principal Amount is not a Recurring Revenue Loan.
2. Not more than 20% of the Collateral Principal Amount may consist of Portfolio Investments that are Second Lien Loans, Recurring Revenue Loans or a corporate debt security.
3. Not less than 80% of the Collateral Principal Amount may consist of Senior Secured Loans and cash and Cash Equivalents on deposit in the Principal Collection Account as Principal Proceeds.
4. Not more than 20% of the Collateral Principal Amount may consist of Portfolio Investments that are issued by obligors that belong to the same Xxxxx’x Industry Classification; provided that (i) Portfolio Investments that are issued by obligors that belong to one Xxxxx’x Industry Classification (other than Industry Codes 12, 21, 22 and 30) may constitute up to 25% of the Collateral Principal Amount and (ii) Portfolio Investments that are issued by obligors that belong to one Xxxxx’x Industry Classification (other than Industry Codes 12, 21, 22 and 30) may constitute up to 30% of the Collateral Principal Amount. As used herein, “Xxxxx’x Industry Classifications” means the industry classifications set forth in Schedule 6 hereto, as such industry classifications shall be updated at the option of the Portfolio Manager (with the consent of the Administrative Agent) if Xxxxx’x publishes revised industry classifications.
Concentration Limitations. The following concentration limitations shall apply to the determination of the Borrowing Base: (A) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Saleable Assets shall not exceed [***]% of the Borrowing Base; (B) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Engines and Eligible Equipment (other than Airframes and Eligible Corporate Aircraft) used on a single make and model of narrow-body aircraft shall not exceed [***]% of the Borrowing Base; provided, the foregoing limitation shall not apply to any models within the 737 or A320 families of aircraft; (C) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Engines which are Turboprop Engines shall not exceed [***]% of the Borrowing Base; (D) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Engines and Eligible Equipment (other than Eligible Corporate Aircraft) used on wide-body aircraft shall not exceed [***]% of the Borrowing Base; (E) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Engines and Eligible Equipment subject to -11- Xxxxxx Lease Finance Corporation Fourth Amended and Restated Credit Agreement Leases to the Three Primary Lessees shall not exceed [***]% of the Borrowing Base; (F) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Engines and Eligible Equipment subject to Leases to a single Lessee shall not exceed the following, as applicable: [***]% of the Borrowing Base with respect to a Lessee under an Investment Grade Lease and [***]% of the Borrowing Base for any other Lessee; (G) the aggregate contribution to the Borrowing Base of the Margin Values of Eligible Equipment which are Airframes (which, for the avoidance of doubt, do not include Eligible Corporate Aircraft) shall not exceed $[***];
Concentration Limitations. (a) Each amount set forth in the table below represents the maximum percentage of the Aggregate Pool Balance that may be comprised of the sum of the Discounted Lease Balances attributable to the Included Leases in the applicable category, on a cumulative basis.
1. Included Leases of any individual Lessee that is rated investment grade or higher by a Rating Agency 25% 10% 9% -----------------------------------------------------------------------------------------------------------------------------
2. Included Leases of any individual Lessee that is not rated investment grade by a Rating Agency 15% 3% 3% ----------------------------------------------------------------------------------------------------------------------------- 3. Included Leases of all Lessees that operate in the same industry* N/A 40% 40% ----------------------------------------------------------------------------------------------------------------------------- 4. Included Leases that relate to the same type of Equipment** N/A 40% 40% ----------------------------------------------------------------------------------------------------------------------------- 5. Included Leases for which the Scheduled Payments are payable semi-annually 10% 10% 10% ============================================================================================================================= --------------- * Based upon Primary Standard Industrial Classification Code Number. ** As determined by AFG Credit Corporation in accordance with its customary procedures. The following words and phrases shall have the following meanings:
Concentration Limitations. The "Concentration Limitations" shall be satisfied at any time if, in the aggregate, the Portfolio Investments owned (or in relation to a proposed Origination or Purchase of a Portfolio Investment, proposed to be Originated or Purchased) by the Company are not greater than (or, in the case of Items 1 and 2 below, are not less than) the limits below (calculated as a percentage of the Collateral Principal Balance on the applicable date of determination); provided that, with respect to each Concentration Limitation set forth below related to an Eligible Currency, prior to the receipt of the applicable Account Opening Notice such Concentration Limitation shall be not more than 0.0%:
1. Maximum concentration of all Portfolio Investments which are not First Lien Loans: 5%
2. Maximum concentration of Portfolio Investments not denominated in EUR: 75%
3. Maximum concentration of Portfolio Investments of a single obligor or group of related obligors: 5% (other than up to four exceptions at (x) during the Ramp-Up Period, 10% and (y) thereafter, 8%)
4. [Reserved]
5. Maximum concentration of Portfolio Investments denominated in CHF, DKK, NOK, SEK, CAD, NZD and AUD: Each individually, 12.5%
6. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in the United States (or a State thereof), the United Kingdom and Germany: Each individually, 50%
7. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in France: 35%
8. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in Spain and Ireland: Each individually, 20%
9. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in Belgium, the Netherlands and Luxembourg: Collectively, 50% and Belgium and the Netherlands each individually, 20%
10. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in Portugal, Italy and Greece: Collectively, 15%
11. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in a member of the European Union other than Portugal, Italy, Greece, Belgium, the Netherlands, Luxembourg, Spain, Ireland, France or Germany: Collectively, 45% and each individually, 15%
12. Maximum concentration of Portfolio Investments with a primary obligor Domiciled in Canada, Australia, New Zealand and Switzerland: Collectively, 40%, Canada and Australia individually, 20% and New Zealand and Switzerland individually, 12.5%
13. Maximum concentration of Portfolio Investme...
Concentration Limitations. Clause (m) in the definition of "Concentration Limitations" in Section 1.1 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:
Concentration Limitations. The total number of Spec Homes, Model Homes, High End Spec Homes or High End Model Homes, as applicable, to be included in the Borrowing Base as of the date of any request made hereunder shall not be in excess of the applicable Concentration Limitation.
Concentration Limitations. With respect to clause (viii) of the definition of "Eligible Receivables" in Section 18.1 of the Loan Agreement, the concentration limitations (with respect to the Receivables of SCPI) shall be thirty percent (30%) for Ames Xxxartment Stores, Inc., and twenty percent (20%) for each of Kroger Co. (and its subsidiaries) and American Sales.
