Portfolio Criteria. (a) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets that are Second Lien Bank Loans or FILO Bank Loans may not exceed 10.0% of the sum of (x) the Aggregate Adjusted Principal Balance of all Eligible Collateral Assets plus (y) amounts on deposit in the Principal Collection Account.
(b) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets that are Second Lien Bank Loans may not exceed 5.0% of the sum of (x) the Aggregate Adjusted Principal Balance of all Eligible Collateral Assets plus (y) amounts on deposit in the Principal Collection Account.
(c) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets that are fixed rate Collateral Assets may not exceed 5.0% of the Concentration Measure.
(d) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets that pay interest less frequently than quarterly may not exceed 15.0% of the Concentration Measure.
(e) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets with respect to a single obligor and its Affiliates may not exceed 3.0% of the Concentration Measure, except that the Aggregate Adjusted Principal Balance of all Eligible Collateral Assets with respect to up to three obligors and their respective Affiliates may each be up to 4.0% of the Concentration Measure.
(f) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets of obligors that are in a single Industry Category may not exceed 12.0% of the Concentration Measure, except that the Aggregate Adjusted Principal Balance of all Eligible Collateral Assets of obligors (i) that are in a single Industry Category may be up to 20.0% of the Concentration Measure and (ii) that are in two additional Industry Categories may be up to 15.0% of the Concentration Measure; provided that (A) neither Energy: Oil and Gas nor Utilities: Oil & Gas may exceed 10.0% of the Concentration Measure and (B) the Aggregate Adjusted Principal Balance of all Eligible Collateral Assets of obligors that are in any of the Hotels, Restaurants & Leisure, Leisure Products, Textiles, Apparel & Luxury Goods, Entertainment, Specialty Retail, Energy Equipment & Services, Airlines, Oil, Gas & Consumable Fuels or Metals & Mining Industry Categories1 may not exceed 25.0% of the Concentration Measure.
(g) The Aggregate Adjusted Principal Balance of all Eligible Collateral Assets the obligor with respect to which has a trailing twelve months EBITDA as of the date of acquisition of...
Portfolio Criteria. (a) An Eligible Project may be grouped with one or more other Eligible Projects and be a Portfolio, provided that:
(i) the sum of the expected Annualized Electricity Savings of all such Eligible Projects in the Portfolio is greater than 3,500 MWh of Annualized Electricity Savings, unless otherwise approved in writing by the LDC;
(ii) each such Eligible Project in the Portfolio must conform to the requirements of the applicable M&V Plan for the Portfolio;
(iii) each such Eligible Project in the Portfolio must have been the subject of a Detailed Engineering Study (and not only a Preliminary Engineering Study) as approved by the LDC and the Technical Reviewer;
(iv) no such Project in the Portfolio may be a Small Capital Project; and
(v) no such Project in the Portfolio may be a CCHP Project.
Portfolio Criteria a. The [***] Market Value of [***] with respect to any single obligor may not exceed the lesser of (i) [***]% of the [***] Market Value or (ii) $[***], except that (1) the [***] Market Value of [***] with respect to a two single obligors may each equal up to the lesser of (i) [***]% of the [***] Market Value or (ii) $[***], and (2) the [***] Market Value of [***] with respect to two additional single obligors may each equal up to the lesser of (i) [***]% of the [***] Market Value or (ii) $[***]; provided that in any event the [***] Market Value of [***] that are not [***] with respect to any single obligor may not exceed [***]% of the [***] Market Value.
b. The [***] Market Value of [***] of obligors which are in a single Industry Category may not exceed [***]% of the [***] Market Value, except that the [***] Market Value of [***] of obligors which are in a single Industry Category may be up to [***]% of the [***] Market Value with respect to one such Industry Category; and the [***] Market Value of [***] of obligors which are in a single additional Industry Category may be up to [***]% of the [***] Market Value; provided that the [***] Market Value of [***] of obligors in the [***] may not in any event exceed [***]% of the [***] Market Value;
c. No more than [***]% of the [***] Market Value may consist of [***] for which the aggregate [***] amount corresponding to such [***] is less than $[***] million or the Dollar Equivalent of such amount (including all [***] secured by the same collateral);
d. No more than [***]% of the [***] Market Value (based on [***] Market Value of the relevant [***]) may consist of [***] that either (A) have a Xxxxx’x Rating of “[***]” or lower, an S&P Rating of “[***]” or lower or a Fitch Rating of “[***]” or lower (irrespective of whether also assigned a higher equivalent rating by one or more of such rating agencies) or (B) are unrated by each of Xxxxx’x, S&P and Fitch;
e. The aggregate [***] amount [***] of [***] which are [***] may not exceed [***]% of the [***] Market Value; Annex B-2
f. The [***] Market Value of [***] which are [***], [***] or [***] may not exceed [***]% of the [***] Market Value;
g. The [***] Market Value of [***] which are [***] may not exceed [***]% of the [***] Market Value;
h. The [***] Market Value of [***] for which the obligors are domiciled in any country other than the United States, in aggregate, may not exceed [***]% of the [***] Market Value;
i. The [***] Market Value of [***] for which the o...
Portfolio Criteria a. The Current Market Value of Eligible Collateral Assets with respect to a single obligor may not exceed 3% of the Aggregate Market Value, except that the Current Market Value of Eligible Collateral Assets with respect to a single obligor may be 4% with respect to 3 or fewer individual obligors;
b. The Current Market Value of Eligible Collateral Assets with respect to a single obligor which are not First Lien Bank Loans may not exceed 2% of the Aggregate Market Value;
c. The Current Market Value of Eligible Collateral Assets of obligors which are in a single S&P Industry Category may not exceed 12% of the Aggregate Market Value, except that the Current Market Value of Eligible Collateral Assets of obligors which are in a single S&P Industry Category may be up to 15% of the Aggregate Market Value with respect to two such S&P Industry Categories and up to 18% of the Aggregate Market Value with respect to one such S&P Industry Category;
d. The Current Market Value of Eligible Collateral Assets which are Mid Size Facility Assets may not exceed 10% of the Aggregate Market Value;
e. No more than 20% of the Aggregate Market Value (based on Current Market Value of the relevant Eligible Collateral Assets) may consist of Eligible Collateral Assets that are Special Situation Assets;
f. The aggregate commitment amount (funded and unfunded) of Eligible Collateral Assets which are revolving loan facilities may not exceed 3% of the Aggregate Market Value;
g. The Current Market Value of Eligible Collateral Assets which are not First Lien Bank Loans may not exceed 20% of the Aggregate Market Value;
h. The Current Market Value of Eligible Collateral Assets for which the obligors are Domiciled in any country other than the United States, in aggregate, may not exceed 20% of the Aggregate Market Value;
i. The Current Market Value of Eligible Collateral Assets for which the obligors are Domiciled in Ireland, Italy, or Spain, in aggregate, may not exceed 5% of the Aggregate Market Value;
j. The Current Market Value of Eligible Collateral Assets for which the obligors are Domiciled in any one Designated Country other than Ireland, Italy or Spain may not exceed 5% of the Aggregate Market Value;
k. The Current Market Value of Eligible Collateral Assets for which the obligors are Domiciled in Iceland may not exceed 2% of the Aggregate Market Value;
l. The Current Market Value of Eligible Collateral Assets for which the obligors are Domiciled in Canada may not exceed 10% of the Aggr...
Portfolio Criteria a. The Assigned Value of all Eligible Collateral Assets that are Second Lien Bank Loans may not exceed 10.0% of the Aggregate Assigned Value.
b. The Assigned Value of all Eligible Collateral Assets with respect to a single obligor may not exceed 3% of the Aggregate Assigned Value, except that the Assigned Value of Eligible Collateral Assets with respect to three obligors may be up to 4% of the Aggregate Assigned Value;
c. The Assigned Value of Eligible Collateral Assets that are Second Lien Bank Loans with respect to a single obligor may not exceed 2% of the Aggregate Assigned Value;
d. The Assigned Value of Eligible Collateral Assets of obligors which are in a single S&P Industry Classification may not exceed 12% of the Aggregate Assigned Value, except that the Assigned Value of Eligible Collateral Assets of obligors which are in a single S&P Industry Classification (other than Oil and Gas or Retail)12 may be up to 15% of the Aggregate Assigned Value with respect to three such S&P Industry Classifications;
e. Up to 10% of the Aggregate Assigned Value may consist of Eligible Collateral Assets that either (A) are rated below “B-” but no lower than “CCC” by S&P or, if no S&P Rating is available, rated below “B3” but no lower than “Caa2” by Xxxxx’x or (B) are unrated by each of Xxxxx’x and S&P; provided that (1) if any Collateral Asset had any such lower rating before such rating was withdrawn, such Collateral Asset will be deemed to have such lower rating for purposes of this test and (2) except as provided in clause (1), the absence of a rating by any rating agency will not be deemed to be a lower rating for purposes of this test; provided further that, for purposes of determining the Assigned Value of any Eligible Collateral Asset included in the CCC Excess, the Assigned Value of such Eligible Collateral Asset shall be deemed to be the lesser of (A) its Initial Value and (B) its Current Market Value;
f. The Assigned Value of all Eligible Collateral Assets for which the obligors are domiciled in Canada may not exceed 15.0% of the Aggregate Assigned Value; and
g. The sum of (A) the aggregate Unfunded Exposure Amount and Assigned Value of the Revolving Loans and (B) the aggregate Unfunded Exposure Amount of the Delayed Drawdown Loans, collectively, may not exceed 5.0% of the Aggregate Assigned Value. 12 For purposes of clause (b), any S&P Industry Classification that makes reference to “Oil”, “Gas” or “Retail” (or variation thereof) shall be included in the p...
Portfolio Criteria. (a) Clause (a) of the Portfolio Criteria in Annex B of the Credit Agreement is deleted in its entirety and replaced with the following:
a. The Assigned Value of all Eligible Collateral Assets with respect to a single obligor may not exceed 3.5% of the Aggregate Assigned Value, except that the Assigned Value of Eligible Collateral Assets (other than Special Situation Assets) with respect to a single obligor may be up to 5.0% with respect to five or fewer individual obligors;
(b) Clause (b) of the Portfolio Criteria in Annex B of the Credit Agreement is deleted in its entirety and replaced with the following:
Portfolio Criteria. On any day, after giving effect to the Purchaser’s purchase and sale of mortgage loans on such day, the mortgage loans owned by the Purchaser in the aggregate must satisfy the following criteria: (i) the aggregate Outstanding Purchase Price of mortgage loans secured by property in California may not on such date exceed 30% of the then-current Program Size; (ii) the aggregate Outstanding Purchase Price of mortgage loans secured by property in a single state other than California may not on such date exceed 15% of the then current Program Size; (iii) the aggregate Outstanding Purchase Price of mortgage loans insured or guaranteed by either the FHA or VA may not on such date exceed 30% of the then-current Program Size; (iv) the aggregate Outstanding Purchase Price of Jumbo Loans may not on such date exceed 35% of the then-current Program Size; (v) the mortgage loans owned by the Trust must have a weighted average FICO Score of at least 675 (excluding loans insured or guaranteed by the FHA or VA); and (vi) the weighted average loan to value ratio of the mortgage loans owned by the Trust must not on such date exceed 85% (excluding loans insured or guaranteed by the FHA or VA).
Portfolio Criteria. The Portfolio must, on the initial Cut-off Dates and on each SME Purchase Date, meet the following criteria (the Portfolio Criteria):
(a) the weighted average remaining tenor of the entire Portfolio is no longer than 8 years;
(b) the Weighted Average Life Of The Portfolio is equal to or lower than 4.5 years;
(c) the aggregate Current Balances of all unsecured SME Loans shall not exceed 18 per cent. of the Current Portfolio Amount;
(d) the aggregate Current Balances of all SME Loans secured by a Mortgage (either for the full amount or in part) must be greater than 35 per cent. of the Current Portfolio Amount;
(e) the aggregate Current Balances of all SME Loans with a Bullet Repayment shall not exceed 5 per cent. of the Current Portfolio Amount;
(f) the aggregate Current Balances of all SME Loans not fully drawn shall not exceed 4 per cent. of the Current Portfolio Amount;
(g) the aggregate Current Balances of all SME Loans with a tailored-made repayment (including SME Loans with a Balloon Repayment) shall not exceed 15 per cent. of the Current Portfolio Amount;
(h) the aggregate Current Balances of all SME Loans with an annual repayment shall not exceed 6 per cent. of the Current Portfolio Amount;
(i) the Top 1 Group shall not represent more than 1 per cent. of the Current Portfolio Amount;
(j) the Top 10 Group shall not represent more than 5 per cent. of the Current Portfolio Amount;
(k) the Top 25 Group shall not represent more than 10 per cent. of the Current Portfolio Amount;
(l) the aggregate Current Balances of the SME Loans of all Borrowers with an ING Internal Risk Rating of 16 does not exceed 3 per cent. of the Current Portfolio Amount,
(m) the aggregate Current Balances of the SME Loans of all Borrowers with an ING Internal Risk Rating of 15 and 16 does not exceed 6 per cent. of the Current Portfolio Amount;
(n) the aggregate Current Balances of the SME Loans of all Borrowers with an ING Internal Risk Rating of 14, 15 and 16 does not exceed 12 per cent. of the Current Portfolio Amount;
(o) the aggregate Current Balances of the SME Loans of all Borrowers with an ING Internal Risk Rating of 13, 14, 15 and 16 does not exceed 24 per cent. of Current Portfolio Amount;
(p) the aggregate Current Balances of all SME Loans which originate from Antwerpen shall not exceed 25 per cent. of the Current Portfolio Amount and the aggregate Current Balances of all SME Loans which originate from each other province shall not exceed 20 per cent. of the Current Portfo...
Portfolio Criteria. The Assigned Value of all Eligible Collateral Assets that are Second Lien Bank Loans may not exceed 10.0% of the Aggregate Assigned Value.
Portfolio Criteria. 2.4.1 Without prejudice to the Eligibility Criteria set forth in Schedule 2, the Assignor shall select the Eligible Receivables to be offered for sale to the Assignee in accordance with this Agreement in such a way as to ensure that, on each Cut-Off Date or on each Collection Transfer Date (with regard to the assignment governed by Article 2.2.4 above), the portfolio comprising such Eligible Receivables satisfies all of the following criteria (the “Portfolio Criteria”):
(i) The Outstanding Amount of all Assigned Receivables existing on such Cut-Off Date or on such Collection Transfer Date and of the Eligible Receivables offered for assignment on the same Offer Date and, where applicable, on a Collection Transfer Date does not exceed the Maximum Portfolio Amount, in each case as calculated on the Cut-Off Date preceding the relevant Offer Date (with regard to the assignment governed by Article 2.2.1 above) or on the relevant Collection Transfer Date (with regard to the optional assignment governed by Article 2.2.4 above). It is understood that should the Maximum Portfolio Amount be exceeded and the Assignee (including through the Portfolio Manager) does not notify the Assignor of its intention to purchase Eligible Receivables over and above the Maximum Portfolio Amount, the Assignee (including through the Portfolio Manager) may choose, in relation to the relevant Offer Date or Collection Transfer Date, the Eligible Receivables to be excluded – and in relation to which the relevant Eligible Receivables shall not be assigned on the immediately following Offer Date or Collection Transfer Date – in accordance with the procedures set forth in Article 2.4.2 below, in order to adhere to the Maximum Portfolio Amount.
(ii) With regard to certain Assigned Debtors indicated by the Assignee, the Outstanding Amount of all Assigned Receivables existing on such Cut-Off Date or on such Collection Transfer Date, held vis-à-vis each Assigned Debtor (including Eligible Receivables offered for assignment on the Offer Date after the relevant Cut-Off Date or, with regard to the assignment governed by Article 2.3.4 above, on the relevant Collection Transfer Date) shall not exceed (a) the Agreed Ceiling set by the Assignee indicated in the Debtors List (as amended on occasion), as calculated on the Cut-Off Date preceding the relevant Offer Date (with regard to the obligatory assignment governed by Article 2.2.1 above) and (b) the relevant Individual Uninsured Eligible Receivable Ce...
