Common use of Mandatory Sales Clause in Contracts

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet such criteria.

Appears in 8 contracts

Samples: Indenture (HPS Corporate Lending Fund), Indenture and Security Agreement (Nuveen Churchill Direct Lending Corp.), Indenture (NewStar Financial, Inc.)

AutoNDA by SimpleDocs

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiix) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (viviii) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 3 contracts

Samples: Supplemental Indenture (GOLUB CAPITAL BDC, Inc.), Indenture (GOLUB CAPITAL INVESTMENT Corp), Indenture (GOLUB CAPITAL BDC, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 3 contracts

Samples: Indenture (TICC Capital Corp.), Indenture (TICC Capital Corp.), Indenture (Golub Capital BDC, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, ,” within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet such criteria.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Silver Point Specialty Lending Fund), Indenture and Security Agreement (Silver Point Specialty Lending Fund)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiix) of the definition of "Collateral Obligation", within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (viviii) of the definition of "Collateral Obligation" within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 2 contracts

Samples: Indenture (Golub Capital Private Credit Fund), Indenture (Golub Capital BDC 3, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, ,” within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet such criteria.

Appears in 2 contracts

Samples: Indenture and Security Agreement (PennantPark Floating Rate Capital Ltd.), Indenture (PennantPark Floating Rate Capital Ltd.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viivi) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (viv) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 2 contracts

Samples: Indenture (Golub Capital Investment Corp), Indenture (Golub Capital BDC, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiix) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet any such criteria.

Appears in 2 contracts

Samples: Indenture (Golub Capital BDC 3, Inc.), Indenture (GOLUB CAPITAL BDC, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiix) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (viviii) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (MidCap Financial Investment Corp)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect effectuate the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiv) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or (ii) no longer meets unless such sale is impractical or, in the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet such criteriaManager’s judgment, not economical).

Appears in 1 contract

Samples: Indenture (Apollo Debt Solutions BDC)

AutoNDA by SimpleDocs

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price, but after a reasonable period of market inquiry) subject to any applicable transfer restrictions of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of "Collateral Obligation”, ," within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of "Collateral Obligation" within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (MSD Investment Corp.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii7) of the definition of "Collateral Obligation”, " (other than an interest in a Blocker Subsidiary) within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet any such criteria.

Appears in 1 contract

Samples: Indenture (NewStar Financial, Inc.)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viixiv) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (KCAP Financial, Inc.)

Mandatory Sales. The Collateral Portfolio Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (viiviii) or (xxv) of the definition of "Collateral Obligation", within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (vivii) or (xviii) of the definition of "Collateral Obligation" within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (JMP Group Inc.)

Mandatory Sales. The Subject to the satisfaction of the Portfolio Acquisition and Sale Requirements, the Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet any such criteria or and (ii) no longer meets the criteria described in clause (vi) of the definition of “Collateral Obligation” within 45 days after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (Garrison Capital LLC)

Mandatory Sales. The Collateral Manager on behalf of the Issuer shall use its commercially reasonable efforts to effect the sale (regardless of price) of any Collateral Obligation that (i) no longer meets the criteria described in clause (vii) of the definition of “Collateral Obligation”, within 18 months after the failure of such Collateral Obligation to meet such criteria or (ii) no longer meets the criteria described in clause (viviii) of the definition of “Collateral Obligation” within 45 days 3 years after the failure of such Collateral Obligation to meet either such criteria.

Appears in 1 contract

Samples: Indenture (AG Twin Brook Capital Income Fund)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!