Common use of Maturity Amendments Clause in Contracts

Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer's behalf) shall be authorized to consent to (x) any amendment to the Underlying Instruments governing a Collateral Obligation that extends the stated maturity of such Collateral Obligation in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the Obligor thereof if the Collateral Manager determines that such amendment in connection therewith would reduce the likelihood that such Collateral Obligation will become a Defaulted Obligation (such amendment, an "Extension Amendment") and (y) any Maturity Amendment; provided that, in the case of clause (y), neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect, (1) the Weighted Average Life Test will be satisfied, or if not satisfied, compliance with such test will be maintained or improved after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period and (2) the extended maturity date of such Collateral Obligation would not be later than the earliest Stated Maturity of the Secured Debt; provided further, that neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment or Extension Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect after giving effect to such Maturity Amendment or

Appears in 1 contract

Samples: Indenture and Security Agreement (Barings Private Credit Corp)

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Maturity Amendments. The Issuer (Without regard to the Concentration Limitations or the Investment Criteria, the Collateral Manager Manager, on behalf of the Issuer's behalf) shall be authorized to , may consent to (x) any amendment to the Underlying Instruments governing solicitations by Obligors of a Collateral Obligation that extends the stated maturity of such Collateral Obligation in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the Obligor thereof if the Collateral Manager determines that such amendment in connection therewith would reduce the likelihood that such Collateral Obligation will become to a Defaulted Obligation (such amendment, an "Extension Amendment") and (y) any Maturity Amendment; provided that, in the case of clause (y), neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment unlessif, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect, : (1i) such Maturity Amendment does not extend the stated maturity date of a Collateral Obligation beyond the Stated Maturity; provided that the Issuer may enter into any Maturity Amendment that does not meet the requirements of clause this clause (i) if (a) in the Collateral Manager’s reasonable judgment such Maturity Amendment is a Credit Amendment and (b) the Aggregate Principal Balance of all such Collateral Obligations held by the Issuer at any point in time shall not exceed 7.5% of the Aggregate Principal Balance of all Collateral Obligations after giving effect to such Maturity Amendment; and (ii) either (x) the Weighted Average Life Test will be satisfiedsatisfied after giving effect to such Maturity Amendment or (y) if the Weighted Average Life Test was not satisfied immediately prior to such Maturity Amendment, or if not satisfied, the level of compliance with such the test will be maintained or improved after giving effect to such Maturity Amendment, in each case Amendment and after giving effect to any Trading Plan Plan; provided, that the Issuer may enter into any Maturity Amendment that does not meet the requirements of clause (x) or (y) above if (a) in effect during the applicable Trading Plan Period and Collateral Manager’s reasonable judgment such Maturity Amendment is a Credit Amendment, (2b) the extended stated maturity date of such any Collateral Obligation would subject to a Credit Amendment is not be later than extended beyond the earliest Stated Maturity of the Secured Debt; provided further, that neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment or Extension Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect after giving effect to such Maturity Amendment or,

Appears in 1 contract

Samples: AG Twin Brook Capital Income Fund

Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer's ’s behalf) shall be authorized to consent to (x) any amendment to the Underlying Instruments governing a Collateral Obligation that extends the stated maturity of such Collateral Obligation in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the Obligor thereof if the Collateral Manager determines that such amendment in connection therewith would reduce the likelihood that such Collateral Obligation will become a Defaulted Obligation (such amendment, an "Extension Amendment") and (y) any Maturity Amendment; provided that, in the case of clause (y), neither the Issuer nor the Collateral Manager on the Issuer's ’s behalf may agree to any Maturity Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effectManager, (1) the Weighted Average Life Test will be satisfied, or if not satisfied, compliance with such test will be maintained or improved after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period Amendment and (2) the extended maturity date of such Collateral Obligation would not be later than the earliest Stated Maturity of the Secured Debt; provided provided, further, that neither the Issuer nor the Collateral Manager on the Issuer's ’s behalf may agree to any Maturity Amendment or Extension Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect after giving effect to such Maturity Amendment oror Extension Amendment, (i) the Aggregate Principal Balance of all Collateral Obligations subject to a Maturity Amendment or an Extension Amendment since the Closing Date is not more than 10.0% of the Target Initial Par Amount and (ii) the aggregate principal balance of all Long-Dated Obligations received in Extension Amendments and Maturity Amendments since the Closing Date is not more than 5.0% of the Target Initial Par Amount.

Appears in 1 contract

Samples: Indenture (Barings Private Credit Corp)

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Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer's behalf) shall be authorized to consent to (x) any amendment to the Underlying Instruments governing a Collateral Obligation that extends the stated maturity of such Collateral Obligation in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the Obligor thereof if the Collateral Manager determines that such amendment in connection therewith would reduce the likelihood that such Collateral Obligation will become a Defaulted Obligation (such amendment, an "Extension Amendment") and (y) any Maturity Amendment; provided that, in the case of clause (y), neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect, (1) the Weighted Average Life Test will be satisfied, or if not satisfied, compliance with such test will be maintained or improved after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period and (2) the extended maturity date of such Collateral Obligation would not be later than the earliest Stated Maturity of the Secured Debt; provided further, that neither the Issuer nor the Collateral Manager on the Issuer's behalf may agree to any Maturity Amendment or Extension Amendment unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect after giving effect to such Maturity Amendment oror Extension Amendment, the aggregate principal balance of all Long-Dated Obligations received in Extension Amendments and Maturity Amendments since the 2024 Closing Date is not more than 5.0% of the Target Initial Par Amount.

Appears in 1 contract

Samples: Indenture and Security Agreement (Barings Private Credit Corp)

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