Limitations on Sales, Substitutions and Repurchases. (i) The aggregate Outstanding Balance of all Loans that are sold or intended to be sold by the Borrower (A) in connection with a Substitution or a Discretionary Sale (other than any Warranty Loans) shall not exceed during any 12-month rolling period, collectively, 20% and (B) in connection with a Substitution or a Discretionary Sale (other than any Warranty Loans, Credit Risk Loans and Credit Improved Loans) shall not exceed during any 12-month rolling period, collectively, 10%, in each case, of the highest aggregate Outstanding Balance of all Loans included in the Collateral during such 12-month period; provided that, the limitations set forth in this clause (f)(i) shall not apply with respect to any Substitution or Discretionary Sale of a Broadly Syndicated Loan, a Loan that has an Assigned Value of zero or any Loan, or portion thereof, that constitutes part of the Excess Concentration Amount.
Limitations on Sales, Substitutions and Repurchases. The aggregate Outstanding Balance of all Loans which are sold or intended to be sold by the Borrower during any 12-month rolling period shall not exceed, collectively, (i) in connection with a Substitution, an Optional Sale or other sale to the Equityholder, 10% of the Facility Amount and (ii) in the aggregate, either in connection with a Substitution or a Discretionary Sale, 20% of the Facility Amount, in each case, as of the start of such 12-month period (or such lesser number of months as shall have elapsed as of such date); provided that, the limitations set forth in this clause (f) shall not apply with respect to any Discretionary Sale of a Loan (x) that (1) is a Broadly Syndicated Loan with a principal balance of $1,000,000 or less and (2) is sold in its entirety to a Person not affiliated with the Collateral Manager or any of its Affiliates, (y) in connection with a refinancing by the related Obligor or (z) certified by the Collateral Manager to the Administrative Agent to be to an existing collateralized loan obligation facility managed by the Collateral Manager or any Affiliate of the Collateral Manager.
Limitations on Sales, Substitutions and Repurchases. (i) The Outstanding Balance of all Loan Assets subject to clauses (ii), (iv) or (vi) of the definition of “Value Adjustment Event” which were included in all Lien Release Dividends or substituted by the Borrower pursuant to Section 2.07(a), in each case during the 12-month period immediately preceding the proposed Lien Release Dividend Date or date of substitution, as applicable, does not exceed 10% of the highest aggregate Outstanding Balance of any month during such 12-month period (or such lesser number of months as shall have elapsed as of such date).
Limitations on Sales, Substitutions and Repurchases. (i) The Outstanding Balance of all Loan Assets subject to clauses (ii), (iv) or (vi) of the definition of “Value Adjustment Event” which were included in all Lien Release Dividends or substituted by the Borrower pursuant to Section 2.07(a), in each case during the 12-month period immediately preceding the proposed Lien Release Dividend Date or date of substitution, as applicable, does not exceed 10% of the highest aggregate Outstanding Balance of any month during such 12-month period (or such lesser number of months as shall have elapsed as of such date). Any Lien Release Dividend or substitution of a “Delinquent Loan” or a “Charged-Off Loan” (as each such term is defined in the Original Agreement) effected pursuant to the Original Agreement during the 12-month period immediately preceding the date of determination shall be included in this calculation.
Limitations on Sales, Substitutions and Repurchases. The aggregate Outstanding Balance of all Loans which are sold or intended to be sold by the Borrower during any 12-month rolling period shall not exceed, collectively, (i) in connection with a Substitution, 25% of the Facility Amount or (ii) in connection with a Discretionary Sale, 25% of the Facility Amount, in each case, as of the start of such 12-month period (or such lesser number of months as shall have elapsed as of such date); provided that, the limitation set forth in this clause (f)(ii) shall not apply with respect to any Discretionary Sale of a Loan (x) in connection with a refinancing by the related Obligor or (y) certified by the Collateral Manager to the Administrative Agent to be to an existing collateralized loan obligation facility managed by the Collateral Manager or any Affiliate of the Collateral Manager. (g)
Limitations on Sales, Substitutions and Repurchases. The aggregate Outstanding Balance of all Loans which are sold or intended to be sold by the Borrower in connection with a Substitution or a Discretionary Sale during any 12-month rolling period shall not exceed, collectively, 25% of the Facility Amount as of the start of such 12-month period (or such lesser number of months as shall have elapsed as of such date); provided that, the limitation set forth in this clause (f) shall not apply with respect to (i) any Discretionary Sale of a Loan to reduce a Borrowing Base Deficiency or (ii) any Discretionary Sale of a Loan in connection with a repayment of the Facility Amount after the Reinvestment Period End Date.
Limitations on Sales, Substitutions and Repurchases. (i) The aggregate Outstanding Balance of all Loans which are sold or intended to be sold by the Loan Parties during any 12-month rolling period shall not exceed, collectively, 20% of the sum of (a) the Outstanding Balances of all Loans as of the start of such 12-month period (or such lesser number of months as shall have elapsed as of such date) plus (b) without duplication, all amounts on deposit in the Principal Collection Account as of the start of such 12-month period (or such lesser number of months as shall have elapsed as of such date); provided that, the limitation set forth in this clause (i) shall not apply with respect to (x) any Discretionary Sale of a Loan (or portion thereof) with an Assigned Value of zero, (y) any sale of a Loan in connection with a refinancing or payoff by the related Obligor or (z) any Discretionary Sale of a Broadly Syndicated Loan to a third party at arm’s length for fair market value.
Limitations on Sales, Substitutions and Repurchases. The aggregate Outstanding Balance of all Fund Collateral Loans (other than Warranty Loans) which are transferred by the Borrower to the Transferor or an Affiliate thereof in connection with a Substitution, a Discretionary Sale or the transfer to the Transferor pursuant to a Restricted Payment shall not exceed in the aggregate twenty percent (20.00%) of the Net Purchased Loan Balance, measured as of the date of such Substitution, Discretionary Sale or dividend. The aggregate Outstanding Balance of all Fund Collateral Loans that are Defaulted Loans (other than Warranty Loans) which are transferred by the Borrower to the Transferor in connection with a Substitution, a Discretionary Sale or a transfer to the Transferor pursuant to a Restricted Payment shall not exceed in the aggregate ten percent (10.00%) of the Net Purchased Loan Balance, measured as of the date of such Substitution, Discretionary Sale or Restricted Payment.
Limitations on Sales, Substitutions and Repurchases. (i) The Outstanding Balance of all Loan Assets (excluding Defaulted Loan Assets and Warranty Loan Assets removed from the Collateral Portfolio pursuant to Section 2.07(c) or (e)) substituted pursuant to Section 2.07(a), sold pursuant to Sections 2.07(c) and (g) or released pursuant to Section 2.07(d) during any 12-month period (or such lesser number of months as shall have elapsed as of such date of determination) shall not exceed 20% of the highest aggregate Outstanding Balance of all Loan Assets at any time during such 12-month period.
Limitations on Sales, Substitutions and Repurchases. (i) The aggregate Outstanding Balance of all Loans (other than Warranty Loans) which are transferred by the Borrower to the Fund or a direct or indirect parent of the Fund thereof in connection with a Substitution, a Discretionary Sale or the transfer to the Fund pursuant to a Restricted Payment shall not exceed during any 12-month rolling period (or such lesser number of months as shall have elapsed since the Effective Date) in the aggregate twenty percent (20.00%) of the Net Purchased Loan Balance measured as of the date of such Substitution, Discretionary Sale or Restricted Payment.
