Common use of Eligibility of Collateral Clause in Contracts

Eligibility of Collateral. (i) The Loan Asset Schedule, the Borrowing Base Certificate and the information contained in each Notice of Borrowing is an accurate and complete listing of all the Portfolio Assets contained in the Collateral as of the related Cut-Off Date or Advance Date, as applicable, and the information contained therein with respect to the identity of such item of the Collateral and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Date or Advance Date, as applicable, (ii) each such Portfolio Asset designated on the Loan Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset and each such Portfolio Asset included as an Eligible Portfolio Asset in any calculation of the Borrowing Base is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Junior Loan or Asset Based Loan) specified therein, (iii) the Borrower has complied in all material respects with the requirements of this Agreement, including Article IX, with respect to each such Portfolio Asset, including delivery to the Collateral Custodian of the Loan Asset File therefor as provided in Section 5.01(f) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.

Eligibility of Collateral. (i) The Loan Asset Schedule, the Borrowing Base Certificate and the information contained in each Notice of Borrowing is an accurate and complete listing of all the Portfolio Assets contained in the Collateral as of the related Cut-Off Cut‐Off Date or Advance Date, as applicable, and the information contained therein with respect to the identity of such item of the Collateral and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Cut‐Off Date or Advance Date, as applicable, (ii) each such Portfolio Asset designated on the Loan Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset and each such Portfolio Asset included as an Eligible Portfolio Asset in any calculation of the Borrowing Base is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Senior Note, Junior Loan or Asset Based Loan) specified therein, (iii) the Borrower has complied in all material respects with the requirements of this Agreement, including Article IX, with respect to each such Portfolio Asset, including delivery to the Collateral Custodian of the Loan Asset File therefor as provided in Section 5.01(f) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.

Eligibility of Collateral. (i) The Loan Asset ScheduleAs of the Closing Date, the Borrowing Base Certificate (A) Schedule C and Schedule D and the information contained in each Notice of Borrowing the Funding Request delivered pursuant to Section 2.01 is an accurate and complete listing in all material respects of all the Portfolio Receivables and the ABS Assets contained in constituting a portion of the Collateral as of the related Cut-Off Date or Advance Date, as applicable, date of the Initial Loan and the information contained therein with respect to the identity of such item of the Collateral Receivables and such ABS Assets and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Cutoff Date or Advance Closing Date, as applicable, (iiB) each such Portfolio Receivable was an Eligible Receivable as of the related Cutoff Date, (C) each such ABS Asset designated is an Eligible ABS Asset on the Loan Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset Closing Date and (D) each such Receivable and each such Portfolio ABS Asset included as an Eligible Portfolio Asset is free and clear of any Lien (other than Permitted Liens). (ii) On each Addition Date, the Borrower shall be deemed to represent and warrant that (A) Schedule C and/or Schedule D and the information contained in any calculation of the Borrowing Base Funding Request delivered pursuant to Section 2.01 is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Junior Loan or Asset Based Loan) specified therein, (iii) the Borrower has complied accurate and complete listing in all material respects with of the requirements Receivables and the ABS Assets (including the Subsequent Assets being transferred on such Addition Date) constituting a portion of this Agreement, including Article IX, the Collateral as of the date of the Subsequent Loan and the information contained therein with respect to the identity of such Receivables and such ABS Assets and the amounts owing thereunder is true and correct in all material respects as of the related Cutoff Date or Addition Date, as applicable, (B) each such Portfolio Asset, including delivery Subsequent Receivable referenced on the related Funding Request delivered pursuant to the Collateral Custodian Section 2.01(b) was an Eligible Receivable as of the Loan Asset File therefor as provided in Section 5.01(frelated Cutoff Date, (C) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required ABS Asset referenced on the related Funding Request delivered pursuant to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any inaccurate representation that a Portfolio Asset Section 2.01(b) is an Eligible Portfolio ABS Asset hereunder shall not constitute an Event on the Addition Date and (D) each such Subsequent Receivable and each such ABS Asset is free and clear of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation any Lien of the Borrowing Baseany Person (other than Permitted Liens).

Eligibility of Collateral. (i) The Loan Asset Schedule, the Borrowing Base Certificate and the information contained in each Notice of Borrowing is an accurate and complete listing of all the Portfolio Assets contained in the Collateral as of the related Cut-Off Date or Advance Date, as applicable, and the information contained therein with respect to the identity of such item of the Collateral and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Date or Advance Date, as applicable, (ii) each such Portfolio Asset designated on the Loan Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset and each such Portfolio Asset included as an Eligible Portfolio Asset in any calculation of the Borrowing Base is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Junior Loan or Loan, Asset Based Loan, Recurring Revenue Loan or Senior Note) specified therein, (iii) the Borrower has complied in all material respects with the requirements of this Agreement, including Article IX, with respect to each such Portfolio Asset, including delivery to the Collateral Custodian (with a copy to the Calculation Agent and Initial Lender) of the Required Loan Asset File Documents therefor as provided in Section 5.01(f5.01(g) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.

Eligibility of Collateral. (i) The Loan Portfolio Asset Schedule, the each Borrowing Base Certificate Certificate, each LTV Certificate, each Fund Report, each NAV Reporting Package and the information contained in each Notice of Borrowing is an accurate and complete listing of all the Portfolio Assets contained in the Collateral as of the related Cut-Off Date date specified in such schedule, certificate or Advance Date, as applicable, report and the information contained therein with respect to the identity of such item of the Collateral and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Date or Advance Date, as applicablesuch date, (ii) each such Portfolio Asset designated on the Loan Portfolio Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset and each such Portfolio Asset included as an Eligible Portfolio Asset in any calculation of the Borrowing Base is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Junior Loan or Asset Based Second Lien Loan) specified therein, (iii) the Borrower has complied in all material respects with the requirements of this Agreement, including Article IX, with respect to each such Portfolio Asset, including delivery to the Collateral Custodian of the Loan Asset File therefor as provided in Section 5.01(f) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any Any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.

Eligibility of Collateral. (i) The Loan Asset Schedule, the Borrowing Base Certificate and the information contained in each Notice of Borrowing is an accurate and complete listing of all the Portfolio Assets contained in the Collateral as of the related Cut-Off Date or Advance Date, as applicable, and the information contained therein with respect to the identity of such item of the Collateral and the amounts owing thereunder is true and correct in all material respects as of the related Cut-Off Date or Advance Date, as applicable, (ii) each such Portfolio Asset designated on the Loan Asset Schedule or any Borrowing Base Certificate as an Eligible Portfolio Asset and each such Portfolio Asset included as an Eligible Portfolio Asset in any calculation of the Borrowing Base is an Eligible Portfolio Asset of the kind (i.e., Senior Loan, Junior Loan, Asset Based Loan or Asset Based Recurring Revenue Loan) specified therein, (iii) the Borrower has complied in all material respects with the requirements of this Agreement, including Article IX, with respect to each such Portfolio Asset, including delivery to the Collateral Custodian (with a copy to the Calculation Agent and Initial Lender) of the Required Loan Asset File Documents therefor as provided in Section 5.01(f5.01(g) and (iv) with respect to each such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the grant of a security interest in each item of Collateral to the Administrative Agent, for the benefit of the Secured Parties, have been duly obtained, effected or given and are in full force and effect. For the avoidance of doubt, any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.