Overcollateralization Default Event. An Overcollateralization Default Event occurs and such event is not cured (i) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent on or before 11:00 a.m. (New York time) on any day that the Fedwire Funds Service (the “Fedwire”) is open, then by the close of the Fedwire on such day or (ii) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent after 11:00 a.m. (New York time) on any day that the Fedwire is open, then by 12:00 p.m. (New York time) on the next succeeding day that the Fedwire is open.
Appears in 3 contracts
Samples: Credit Agreement (American Capital, LTD), Credit Agreement (FS Global Credit Opportunities Fund-D), Credit Agreement (FS Investment Corp II)
Overcollateralization Default Event. An Overcollateralization Default Event occurs and such event is not cured (i) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent on or before 11:00 a.m. (New York time) on any day that the Fedwire Funds Service (the “Fedwire”) is open, then by the close of the Fedwire on such day or (ii) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent after 11:00 a.m. (New York time) on any day that the Fedwire is open, then by 12:00 p.m. (New York time) on the next succeeding day that the Fedwire is open.
Appears in 2 contracts
Samples: Credit Agreement (FS Investment CORP), Credit Agreement (FS Investment CORP)
Overcollateralization Default Event. An Overcollateralization Default Event occurs and such event is not cured (i) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent on or before 11:00 10:00 a.m. (New York time) on any day that the Fedwire Funds Service (the “Fedwire”) is open, then by 12:00 noon (New York time) on the close of next succeeding day that the Fedwire on such day is open or (ii) if notice of such event is received (or deemed to be received) by the Borrower from the Administrative Agent at or after 11:00 10:00 a.m. (New York time) on any day that the Fedwire is open, then by 12:00 at or before 6:00 p.m. (New York time) on the next succeeding day that the Fedwire is open.
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