Common use of Internal Review Clause in Contracts

Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The meetings shall generally take place once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal year. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (BlackRock Capital Investment Corp), Senior Secured Revolving Credit Agreement (BlackRock Capital Investment Corp)

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Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 20142020. The Portfolio Investments shall be reviewed on a weekly basis and formal meetings to discuss Portfolio Investments shall generally take place no less frequently than once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal yearquarter. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (BlackRock Capital Investment Corp), Senior Secured Revolving Credit Agreement (BlackRock Capital Investment Corp)

Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 20142011. The meetings shall generally take place once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal year. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (BlackRock Kelso Capital CORP)

Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s 's valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 20142019. The Portfolio Investments shall be reviewed on a weekly basis and formal meetings to discuss Portfolio Investments shall generally take place no less frequently than once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal yearquarter. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (BlackRock Capital Investment Corp)

Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 20142012. The meetings shall generally take place once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal year. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (BlackRock Kelso Capital CORP)

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Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the Borrower’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 201420202022. The Portfolio Investments shall be reviewed on a weekly basis and formal meetings to discuss Portfolio Investments shall generally take place no less frequently than once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal yearquarter. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (BlackRock TCP Capital Corp.)

Internal Review. The Borrower shall use commercially reasonable efforts to conduct internal reviews of all Portfolio Investments in accordance with the BorrowerBorrower’sTCPC’s valuation policies and procedures, as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 20142022. The Portfolio Investments shall be reviewed on a weekly basis and formal meetings to discuss Portfolio Investments shall generally take place no less frequently than once a week at the Borrower’s discretion, but in no event fewer than forty (40) times per fiscal yearquarter. Such internal reviews shall take into account any material events of which the Borrower has knowledge that affect the value of the Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A) or (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (BlackRock TCP Capital Corp.)

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