Effective Date; Purchase of Additional Collateral Obligations. (a) The Issuer will use commercially reasonable efforts to purchase, on or before the Effective Date, Collateral Obligations (i) such that the Target Initial Par Condition is satisfied and (ii) that satisfy, as of the Effective Date, the Concentration Limitations, the Collateral Quality Tests and the Coverage Tests.
Effective Date; Purchase of Additional Collateral Obligations. (a) The Issuer will use commercially reasonable efforts to purchase, on or before the Effective Date, Collateral Obligations (a) such that the Target Initial Par Condition is satisfied and (b) that satisfy, as of the Effective Date, the Concentration Limitations, the Collateral Quality Test and the Coverage Tests. In addition, the Issuer (or the Collateral Manager on its behalf) shall prepare a written report, determined as of October 25, 2011 (the “First Interim Report Date”), setting forth the Aggregate Principal Balance of the Collateral Obligations, the Diversity Score, the Weighted Average Xxxxx’x Rating Factor, the Weighted Average Floating Spread and the Weighted Average Moody’s Recovery Rate. Such written report shall be delivered to the Trustee, Moody’s and S&P within five Business Days of the First Interim Report Date. The Issuer will use commercially reasonable efforts to meet the following measures (collectively, the “First Interim Targets”) as of the First Interim Report Date: the Aggregate Principal Balance of the Collateral Obligations greater than or equal to $145,665,000, the Diversity Score greater than or equal to 15, the Weighted Average Xxxxx’x Rating Factor less than or equal to 3800, the Weighted Average Floating Spread greater than or equal to 6.00% and the Weighted Average Moody’s Recovery Rate greater than or equal to 36.50%. Furthermore, the Issuer (or the Collateral Manager on its behalf) shall prepare another written report, determined as of the Payment Date occurring in January 2012 (the “Second Interim Report Date”), setting forth the Aggregate Principal Balance of the Collateral Obligations, the Diversity Score, the Weighted Average Xxxxx’x Rating Factor, the Weighted Average Floating Spread and the Weighted Average Moody’s Recovery Rate. Such written report shall be delivered to the Trustee, Moody’s and S&P within five Business Days of the Second Interim Report Date. The Issuer will use commercially reasonable efforts to meet the following measures (collectively, the “Second Interim Targets”) as of the Second Interim Report Date: the Aggregate Principal Balance of the Collateral Obligations greater than or equal to $179,280,000, the Diversity Score greater than or equal to 17, the Weighted Average Xxxxx’x Rating Factor less than or equal to 3950, the Weighted Average Floating Spread greater than or equal to 5.00% and the Weighted Average Moody’s Recovery Rate greater than or equal to 38.00%. For the avoidance of doubt, the ...
Effective Date; Purchase of Additional Collateral Obligations. (a) If (and only if) Moody’s has provided an Initial Rating prior to the Determination Date in June, 2019 (the “Interim Date”), the Borrower shall use commercially reasonable efforts to purchase, on or before the Effective Date, Collateral Obligations such that the Target Facility Par Condition is satisfied. In addition, if (and only if) the Initial Rating has been provided by Moody’s prior to the Interim Date, the Borrower (or the Collateral Manager on its behalf) shall prepare a written report, determined as of the Interim Date, setting forth the Aggregate Principal Balance of the Collateral Obligations, the Diversity Score, the Weighted Average Mxxxx’x Rating Factor, the Weighted Average Spread and the Weighted Average Moody’s Recovery Rate. Such written report must be delivered to the Collateral Custodian and Moody’s within ten Business Days following the Interim Date; provided that no such report will be required if the Initial Rating has not been provided prior to the Interim Date. If Moody’s has provided an Initial Rating prior to the Interim Date, the Borrower shall also use commercially reasonable efforts to meet the following measures as of the Interim Date: (i) the Aggregate Principal Balance of the Collateral Obligations is greater than or equal to $40,000,000, (ii) the Diversity Score is greater than or equal to 0, (iii) the Weighted Average Mxxxx’x Rating Factor is less than or equal to 2800, (iv) the Weighted Average Spread is greater than or equal to 3.00% and (v) the Weighted Average Moody’s Recovery Rate greater than or equal to 45.00%.
Effective Date; Purchase of Additional Collateral Obligations. (a)The Issuer will use commercially reasonable efforts to purchase, on or before June 20, 2024, Collateral Obligations (i) such that the Target Initial Par Condition is satisfied and (ii) that satisfy, as of the Effective Date, the Concentration Limitations, the Collateral Quality Test and the Coverage Tests. (b) During the period from the Closing Date to and including the Effective Date, the Issuer will use funds to purchase additional Collateral Obligations in the following order: (i) to pay for the principal portion of any Collateral Obligation, first, any amounts on deposit in the Ramp-Up Account, and second, any Principal Proceeds on deposit in the Collection Account and (ii) to pay for accrued interest on any such Collateral Obligation, first, any amounts on deposit in the Ramp-Up Account and second, any Principal Proceeds on deposit in the Collection Account. In addition, the Issuer will use commercially reasonable efforts to acquire such Collateral
Effective Date; Purchase of Additional Collateral Obligations. (a) The Issuer will use commercially reasonable efforts to purchase (or enter into commitments to purchase), on or before September 5, 2013, Collateral Obligations, such that the Target Initial Par Condition is satisfied. In addition, the Issuer (or the Portfolio Manager on its behalf) shall prepare a written report, determined as of August 5, 2013, (the "Interim Report Date"), setting forth the Aggregate Principal Balance of the Collateral Obligations, the Diversity Score, the Weighted Average Xxxxx'x Rating Factor, the Weighted Average Floating Spread and the Weighted Average Moody's Recovery Rate. Such written report shall be delivered to the Trustee and Moody's no later than 15 Business Days after the Interim Report Date. The Issuer will use commercially reasonable efforts to meet the following measures as of the Interim Report Date: the Aggregate Principal Balance of the Collateral Obligations: greater than or equal to U.S.$265,000,000; the Diversity Score: greater than or equal to 60; the Weighted Average Xxxxx'x Rating Factor: less than or equal to 2500; the Weighted Average Floating Spread: greater than or equal to 3.75%%; and the Weighted Average Moody's Recovery Rate: greater than or equal to 44.0%. Failure to meet any of the foregoing measures shall not constitute an Event of Default under this Indenture.
Effective Date; Purchase of Additional Collateral Obligations. (a) The Cayman Issuer will use commercially reasonable efforts to purchase, on or before July 6, 2020, Collateral Obligations (i) such that the Target Initial Par Condition is satisfied and (ii) that satisfy, as of the Effective Date, the Concentration Limitations, the Collateral Quality Test and the Coverage Tests.
Effective Date; Purchase of Additional Collateral Obligations. (a) The Issuer will use commercially reasonable efforts to purchase (or enter into commitments to purchase) Collateral Obligations such that the Target Initial Par Condition is satisfied on or before the date specified in clause (i) of the definition of “Effective Date.” (b) [Reserved]. (c) Up to (and including) the Effective Date, the Issuer will use the following funds to purchase additional Collateral Obligations in the following order: (i) to pay for the principal portion of any Collateral Obligation, first, any amounts on deposit in the Ramp-Up Account, and second, any Principal Proceeds on deposit in the Collection Account, and (ii) to pay for accrued interest on any such Collateral Obligation, any amounts on deposit in the Ramp-Up Account. In addition, the Issuer will use commercially reasonable efforts to acquire such Collateral Obligations that will satisfy or comply with, on the Effective Date, the Concentration Limitations, the Collateral Quality Test and the Overcollateralization Ratio Test. (d) Unless clause (e) below is applicable, within 10 Business Days after the Effective Date, the Issuer (or the Collateral Manager on its behalf) shall provide, or cause the Collateral Manager to provide, the following documents: (i) to the Rating Agency, a report (that the Issuer shall cause the Collateral Administrator to prepare on its behalf in accordance with, and subject to the terms of, the Collateral Administration Agreement) identifying the Collateral Obligations; (ii) to the Rating Agency, the Trustee and the Collateral Manager, (x) a report (that the Issuer shall cause the Collateral Administrator to prepare on its behalf in accordance with, and
Effective Date; Purchase of Additional Collateral Obligations. This section does not apply in connection with the First Refinancing Date.
Effective Date; Purchase of Additional Collateral Obligations
