Common use of Establishment of the Unfunded Exposure Account Clause in Contracts

Establishment of the Unfunded Exposure Account. The Servicer shall cause to be established, on or before the Closing Date, with the Collateral Custodian, and maintained in the name of the Borrower, subject to the lien of the Collateral Agent, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the “Unfunded Exposure Account”, the “CAD Unfunded Exposure Account”, the “EUR Unfunded Exposure Account” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan or Delayed Draw Loan; provided that, until the earlier to occur of the Reinvestment Period End Date or the Termination Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Administrative Agent, and the Administrative Agent shall instruct the Collateral Custodian to fund such draw request in accordance with the Underlying Instrument pertaining to such Revolving Loan or Delayed Draw Loan. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts prior to the earlier to occur of the Reinvestment Period End Date or the Termination Date and (ii) the aggregate of all Exposure Amounts following the earlier to occur of the Reinvestment Period End Date or the Termination Date, in each case shall be transferred into the Principal Collection Account as Principal Collections.

Establishment of the Unfunded Exposure Account. The Servicer shall cause to be established, on or before the Closing Date, maintained with the Collateral Custodian, Trustee and maintained in the name of the Borrower, subject to the lien of the Collateral AgentTrustee, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the a segregated corporate trust account entitled “Unfunded Exposure Account”, the “CAD Unfunded Exposure Account”, the “EUR Unfunded Exposure AccountAccount for NewStar CP Funding LLC” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Delayed Draw Term Loan or Delayed Draw Revolving Loan; provided that, until the earlier to occur of the Reinvestment Period End Date or the Termination Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Administrative Agent, and the Administrative Agent Servicer shall instruct the Collateral Custodian Trustee (with a copy to the Administrative Agent) to fund such draw request in accordance with the Underlying Instrument pertaining to such Revolving Delayed Draw Term Loan or Delayed Draw Revolving Loan. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts prior to the earlier to occur of the Reinvestment end of the Revolving Period End Date or the Termination Date and (ii) the aggregate of all Aggregate Exposure Amounts Amount following the earlier to occur of the Reinvestment end of the Revolving Period End Date or the Termination Date, in each case case, shall be transferred at the direction of the Servicer into the Principal Collection Account as Principal Collections. Prior to the occurrence of a Termination Event, at the Servicer’s discretion, the Servicer may direct the Trustee to deposit in the Unfunded Exposure Account all Principal Collections received by the Borrower in respect of the Revolving Loans included in the Collateral to the extent necessary to cause the amount on deposit in the Unfunded Exposure Account to equal the Aggregate Exposure Amount; provided that after the occurrence of a Termination Event, the foregoing deposit will be required to be made by the Servicer.

Establishment of the Unfunded Exposure Account. The Servicer shall cause to be Borrower established, on or before the Closing Date, with the Collateral CustodianAccount Bank, and maintained in the name of the Borrower, subject to the lien of the Collateral Agent, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the a segregated corporate trust account entitled “Unfunded Exposure Account”Account for SSLP 2016-1, LLC, subject to the “CAD Unfunded Exposure Account”lien of Xxxxx Fargo Bank, National Association, as Collateral Agent for the “EUR Unfunded Exposure Accountbenefit of the Secured Parties” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan or Delayed Draw LoanLoan Assets; provided that, until the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Administrative Agent, and the Administrative Agent shall instruct the Collateral Custodian Account Bank to fund such draw request in accordance with the Underlying Instrument Loan Agreement pertaining to such Revolving Loan or Delayed Draw LoanLoan Assets. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts Amount prior to the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date and (ii) the aggregate of all Unfunded Exposure Amounts following the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date, in each case shall be transferred into the Principal Collection Account as Principal Collections.

Establishment of the Unfunded Exposure Account. The Servicer shall cause to be established, on or before the Closing Date, maintained with the Collateral Custodian, Trustee and maintained in the name of the Borrower, subject to the lien of the Collateral AgentTrustee, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the a segregated corporate trust account entitled “Unfunded Exposure Account”, the “CAD Unfunded Exposure Account”, the “EUR Unfunded Exposure AccountAccount for NewStar Arlington Funding LLC” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Delayed Draw Loan or Delayed Draw Revolving Loan; provided that, until the earlier to occur of the Reinvestment Period End Date or the Termination Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Administrative Agent, and the Administrative Agent Servicer shall instruct the Collateral Custodian Trustee (with a copy to the Administrative Agent) to fund such draw request in accordance with the Underlying Instrument pertaining to such Revolving Delayed Draw Loan or Delayed Draw Revolving Loan. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts prior to the earlier to occur of the end of the Reinvestment Period End Date or the Termination Date and (ii) the aggregate of all Aggregate Exposure Amounts Amount following the earlier to occur of the end of the Reinvestment Period End Date or the Termination Date, in each case case, shall be transferred at the direction of the Servicer into the Principal Collection Account as Principal Collections. So long as no Event of Default has occurred and is continuing, at the Servicer’s discretion, the Servicer may direct the Trustee to deposit in the Unfunded Exposure Account all Principal Collections received by the Borrower in respect of the Revolving Loans included in the Collateral to the extent necessary to cause the amount on deposit in the Unfunded Exposure Account to equal the Aggregate Exposure Amount; provided that if an Event of Default has occurred and is continuing, the foregoing deposit will be required to be made by the Servicer.

Establishment of the Unfunded Exposure Account. The Servicer shall cause to be Borrower established, on or before the Closing Date, with the Collateral CustodianAccount Bank, and maintained in the name of the Borrower, subject to the lien of the Collateral Agent, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the a segregated corporate trust account entitled “Unfunded Exposure Account”Account for FLLP 2015-1, LLC, subject to the “CAD Unfunded Exposure Account”lien of Xxxxx Fargo Bank, National Association, as Collateral Agent for the “EUR Unfunded Exposure Accountbenefit of the Secured Parties” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan or Delayed Draw LoanLoan Assets; provided that, until the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Administrative Agent, and the Administrative Agent shall instruct the Collateral Custodian Account Bank to fund such draw request in accordance with the Underlying Instrument Loan Agreement pertaining to such Revolving Loan or Delayed Draw LoanLoan Assets. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts Amount prior to the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date and (ii) the aggregate of all Unfunded Exposure Amounts following the earlier to occur of the end of the Reinvestment Period End Date or the Termination Facility Maturity Date, in each case shall be transferred into the Principal Collection Account as Principal Collections.

Establishment of the Unfunded Exposure Account. The Servicer Collateral Manager shall cause to be established, on or before the Closing Date, maintained with the Collateral Custodian, Trustee and maintained in the name of the Borrower, subject to the lien of the Collateral AgentTrustee, for the benefit of the Secured Parties, the accounts and/or sub-accounts designated as the a segregated corporate trust account entitled “Unfunded Exposure Account”, the “CAD Unfunded Exposure Account”, the “EUR Unfunded Exposure AccountAccount for NewStar Warehouse Funding I LLC” and the “GBP Unfunded Exposure Account” under the Securities Account Control Agreement (collectively, the “Unfunded Exposure Account”). For the avoidance of doubt, a separate Unfunded Exposure Account shall be established for each Eligible Currency, as more particularly describe in the Securities Account Control Agreement. Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Delayed Draw Term Loan or Delayed Draw Revolving Loan; provided that, until the earlier to occur of the Reinvestment Period End Date or the Termination Date, the amount withdrawn to fund such draw request shall not cause a Borrowing Base Deficiency. Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer Collateral Manager to the Administrative Agent, and the Administrative Agent Collateral Manager shall instruct the Collateral Custodian Trustee (with a copy to the Administrative Agent) to fund such draw request in accordance with the Underlying Instrument pertaining to such Revolving Delayed Draw Term Loan or Delayed Draw Revolving Loan. As of any date of determination, any amounts on deposit in the Unfunded Exposure Account that exceed (i) the aggregate of all Unfunded Exposure Equity Amounts prior to the earlier to occur of the Reinvestment end of the Revolving Period End Date or the Termination Date and (ii) the aggregate of all Aggregate Exposure Amounts Amount following the earlier to occur of the Reinvestment end of the Revolving Period End Date or the Termination Date, in each case case, shall be transferred at the direction of the Collateral Manager into the Principal Collection Account as Principal Collections. Prior to the occurrence of an Event of Default, at the Collateral Manager’s discretion, the Collateral Manager may direct the Trustee to deposit in the Unfunded Exposure Account all Principal Collections received by the Borrower in respect of the Revolving Loans included in the Collateral to the extent necessary to cause the amount on deposit in the Unfunded Exposure Account to equal the Aggregate Exposure Amount; provided that after the occurrence of an Event of Default, the foregoing deposit will be required to be made by the Collateral Manager.