Purchase of Additional Collateral Assets Sample Clauses

Purchase of Additional Collateral Assets. During the Reinvestment Period, the Collateral Manager on behalf of the Borrower may, if the conditions specified in this Section 10.02 and Section 10.05 are met (or waived by the Administrative Agent), invest Principal Proceeds (and accrued interest received with respect to any Collateral Asset to the extent used to pay for accrued interest on additional Collateral Assets) in additional Collateral Assets; provided that no Collateral Asset may be purchased unless each of the following conditions is satisfied as of the date such Collateral Asset is added to the Collateral:
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Purchase of Additional Collateral Assets. (a) On any date during the Reinvestment Period, if no Event of Default has occurred and is continuing, the Borrower (or the Investment Advisor on behalf of the Borrower) may, if each of the conditions specified in this Section 10.02 and Section 10.03 are met, invest Principal Proceeds (and accrued interest received with respect to any Collateral Asset to the extent used to pay for accrued interest on additional Collateral Assets and other amounts on deposit in the Principal Collection Account) in additional Collateral Assets and units of exchange-traded funds; provided that no Collateral Asset (excluding subsequent draws under Delayed Drawdown Collateral Assets) may be purchased unless each of the following conditions are satisfied as of the date the Investment Advisor commits on behalf of the Borrower to make such purchase and after giving effect to such purchase and all other sales or purchases previously or simultaneously committed to:
Sample 1Sample 2
Purchase of Additional Collateral Assets. Section 10.01
Sample 1

Related to Purchase of Additional Collateral Assets

  • Additional Collateral; Additional Guarantors (a) In connection with each redetermination of the Borrowing Base, the Borrower shall review the Reserve Report and the list of current Mortgaged Properties (as described in Section 8.12(c)(vi)) to ascertain whether the Mortgaged Properties represent at least 80% of the total value of the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to exploration and production activities, acquisitions, dispositions and production. In the event that the Mortgaged Properties do not represent at least 80% of such total value, then the Borrower shall, and shall cause its Subsidiaries to, grant to the Administrative Agent or its designee as security for the Indebtedness a first-priority Lien interest (provided the Excepted Liens of the type described in clauses (a) to (d) and (f) of the definition thereof may exist, but subject to the provisos at the end of such definition) on additional Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the Mortgaged Properties will represent at least 80% of such total value. All such Liens will be created and perfected by and in accordance with the provisions of deeds of trust, security agreements and financing statements or other Security Instruments, all in form and substance reasonably satisfactory to the Administrative Agent or its designee and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes. In order to comply with the foregoing, if any Subsidiary places a Lien on its Oil and Gas Properties and such Subsidiary is not a Guarantor, then it shall become a Guarantor and comply with Section 8.14(b).

  • Collection Efforts, Modification of Collateral (a) The Servicer will use commercially reasonable efforts to collect, or cause to be collected, all payments called for under the terms and provisions of the Collateral Loans included in the Collateral as and when the same become due, all in accordance with the Servicing Standard.

Time is Money Join Law Insider Premium to draft better contracts faster.