Common use of Purchase of Additional Collateral Obligations Clause in Contracts

Purchase of Additional Collateral Obligations. On any date during the Reinvestment Period (or after the Reinvestment Period, with the consent of the Required Lenders and satisfaction of the Rating Confirmation), if no Default or Event of Default has occurred and is continuing or would result therefrom (unless, in the case of a Default, (1) such Default will be cured upon giving effect to such purchase of additional Collateral Obligations, (2) a Responsible Officer of the Borrower or the Collateral Manager certifies to the Facility Agent that it is in the process of curing such Default (unless it is a Default that is an Incurable Default) or (3) the Facility Agent consents to such purchase of additional Collateral Obligations), the Borrower, or the Collateral Manager, may, if each of the conditions specified in this Section 10.02 and Section 10.03 is met, direct the Collateral Agent to invest Principal Proceeds (and accrued interest received with respect to any Collateral Obligation to the extent used to pay for accrued interest on additional Collateral Obligations) in additional Collateral Obligations, and the Collateral Agent shall invest such proceeds in accordance with such instructions. The Borrower shall ensure that all such investments in Collateral Obligations are Settled during the Reinvestment Period such that no amounts are payable thereunder in respect of the purchase price thereof after the end of the Reinvestment Period other than with respect to any Collateral Obligations which the Borrower is permitted to purchase after the Reinvestment Period in accordance with this Section 10.02. Any contemporaneous sale of a Collateral Obligation and purchase of another Collateral Obligation in accordance with the Facility Documents by the Borrower with the same counterparty may be settled by netting the sales and purchase prices against each other as directed by the Collateral Manager.

Purchase of Additional Collateral Obligations. On any date during the Reinvestment Period (or after Period, the Collateral Manager on behalf of the Issuer may, subject to the other requirements in this Indenture, direct the Trustee to invest Principal Proceeds, proceeds of Additional Notes issued pursuant to Sections 2.13 and 3.2, amounts on deposit in the Collection Account and, if applicable, the Prefunding Account and Principal Financed Accrued Interest, and the Trustee shall invest such Principal Proceeds and other amounts in accordance with such direction. After the Reinvestment Period, with the consent Collateral Manager shall not direct the Trustee to invest any amounts on behalf of the Required Lenders and satisfaction of the Rating Confirmation), if Issuer. So long as no Default or Enforcement Event of Default has occurred and is continuing or would result therefrom continuing, the Collateral Manager may instruct the Trustee to use, (unlessx) during the Prefunding Period, amounts on deposit in the Prefunding Account and Principal Proceeds to purchase additional obligations and (y) following the Prefunding Period but during the Reinvestment Period, Principal Proceeds to purchase additional obligations, in each case, subject to the requirement that each of the following criteria (such criteria collectively, the “Investment Criteria”) is satisfied, other than, during the Prefunding Period, Section 12.2(ii) below, as of the date the Collateral Manager commits on behalf of the Issuer to make such purchase, in each case of a Default, (1) such Default will be cured upon as determined by the Collateral Manager after giving effect to such purchase of additional Collateral Obligations, (2) a Responsible Officer of the Borrower and all other sales or the Collateral Manager certifies to the Facility Agent that it is in the process of curing such Default (unless it is a Default that is an Incurable Default) purchases previously or (3) the Facility Agent consents to such purchase of additional Collateral Obligations), the Borrower, or the Collateral Manager, may, if each of the conditions specified in this Section 10.02 and Section 10.03 is met, direct the Collateral Agent to invest Principal Proceeds (and accrued interest received with respect to any Collateral Obligation to the extent used to pay for accrued interest on additional Collateral Obligations) in additional Collateral Obligations, and the Collateral Agent shall invest such proceeds in accordance with such instructions. The Borrower shall ensure that all such investments in Collateral Obligations are Settled during the Reinvestment Period such that no amounts are payable thereunder in respect of the purchase price thereof after the end of the Reinvestment Period other than with respect to any Collateral Obligations which the Borrower is permitted to purchase after the Reinvestment Period in accordance with this Section 10.02. Any contemporaneous sale of a Collateral Obligation and purchase of another Collateral Obligation in accordance with the Facility Documents by the Borrower with the same counterparty may be settled by netting the sales and purchase prices against each other as directed by the Collateral Manager.simultaneously committed to: