Defaulted Obligations; Workout Loans Sample Clauses

Defaulted Obligations; Workout Loans. The Collateral Manager may direct the Trustee to sell any Defaulted Obligation or any Workout Loan at any time.

Defaulted Obligations; Workout Loans. The Collateral Manager may direct the Collateral Trustee to sell any Defaulted Obligation or any Workout Loan at any time. With respect to each Defaulted Obligation that remained a Defaulted Obligation for a continuous period of three years after becoming a Defaulted Obligation and has not been sold or terminated during such three-year period, the Market Value and Principal Balance of such Defaulted Obligation shall be deemed to be zero.