Common use of Ramp-Up Account Clause in Contracts

Ramp-Up Account. In accordance with this Indenture and the Issuer Securities Account Control Agreement, the Trustee shall, prior to the Closing Date, establish with the Custodian a single, segregated non-interest bearing account held in the name of “ABPCI Direct Lending Fund CLO XIII Ltd” which account shall be subject to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties and shall be designated as the “Ramp-Up Account”, and shall be maintained with the Custodian in accordance with the Issuer Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit the amount specified in Section 3.1(a)(xii)(B) into the Ramp-Up Account on the Closing Date. In connection with any acquisition of an additional Collateral Obligation, the Trustee shall apply amounts held in the Ramp-Up Account as provided by Section 7.18(a). Upon the occurrence of an Event of Default (and excluding any proceeds that shall be used to settle binding commitments entered into prior to that date), the Trustee shall deposit any remaining amounts in the Ramp-Up Account into the Reinvesting Collection Account as Principal Proceeds. On the first Determination Date after the Effective Date (and excluding any proceeds that will be used to settle binding commitments entered into prior to that date) on which no Rating Confirmation Failure has occurred and is continuing, (a) at the direction of the Collateral Manager the Trustee shall deposit any amounts remaining in the Ramp-Up Account into the Reinvesting Collection Account as Principal Proceeds (except as provided in clause (b) below) and the Ramp-Up Account shall be closed and (b) the Collateral Manager may designate any remaining amounts in the Ramp-Up Account as Interest Proceeds to be deposited into the Collection Account (amounts so designated as Interest Proceeds, “Designated Unused Proceeds”), so long as, after giving effect to such designation, (i) the aggregate amount of Designated Principal Proceeds and Designated Unused Proceeds does not exceed 1.0% of the Target Initial Par Amount, (ii) the Principal Collateralization Amount is greater than the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the “Effective Date Interest Deposit Restrictions”). Any income earned on amounts deposited in the Ramp-Up Account shall be deposited in the Reinvesting Collection Account as Interest Proceeds.

Ramp-Up Account. In accordance with this Indenture and the Issuer Securities Account Control Agreement, the Trustee Issuer shall, prior to the Closing Date, cause the Trustee to establish with at the Custodian a single, segregated non-interest bearing trust account held in the name of “ABPCI Direct Lending Fund CLO XIII Ltd” which account shall be subject to the lien of U.S. Bank Trust CompanyTrustee, National Association, as Trustee for the benefit of the Secured Parties and Parties, which shall be designated as the “Ramp-Up Account”, and which shall be maintained with the Custodian in accordance with the Issuer Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit the amount specified in Section 3.1(a)(xii)(B) into $295,007,000 to the Ramp-Up Account on the Closing Date. In connection with any acquisition purchase of an additional Collateral Obligation, the Trustee shall will apply amounts held in the Ramp-Up Account as provided by Section 7.18(a7.18(b). Upon On the Effective Date or upon the occurrence of an Event of Default (and excluding any proceeds that shall will be used to settle binding commitments entered into prior to that such date), the Trustee shall will deposit any remaining amounts in the Ramp-Up Account into the Reinvesting Principal Collection Account Subaccount as Principal Proceeds. On the first Determination Date after After the Effective Date and on or prior to the Determination Date related to the second Payment Date (so long as the Target Initial Par Condition has been satisfied, and with respect to any distribution in connection with clause (b) below, is satisfied on a pro forma basis after giving effect to such distribution, and a Special Redemption was not required and excluding any proceeds that will be used to settle binding commitments entered into prior to that date) on which no Rating Confirmation Failure has occurred and is continuing), (a) at the direction of the Collateral Manager the Trustee shall will deposit any remaining amounts remaining in the Ramp-Up Account into the Reinvesting Principal Collection Account Subaccount as Principal Proceeds (except as provided in clause (b) below) and the Ramp-Up Account shall be closed and (b) the Collateral Manager may designate any remaining amounts in the Ramp-Up Account as Interest Proceeds to be deposited into the Interest Collection Account Subaccount (amounts so designated as Interest Proceeds, “Designated Unused Proceeds”), so long as, after giving effect to such designation, (i) the aggregate amount of Designated Principal Proceeds and Designated Unused Proceeds does not exceed 1.0% of the Target Initial Par Amount, (ii) the Principal Collateralization Amount is greater than the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the “Effective Date Interest Deposit RestrictionsRestriction”). Any income earned on amounts deposited in the Ramp-Up Account shall will be deposited in the Reinvesting Interest Collection Account Subaccount as Interest Proceeds.

Ramp-Up Account. In accordance with this Indenture and the Issuer Securities Account Control Agreement, the The Trustee shall, prior to the Closing Date, establish with at the Custodian a single, three segregated non-interest bearing account held in the name of “ABPCI Direct Lending Fund CLO XIII Ltd” which account shall be subject securities accounts collectively referred to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties and shall be designated as the “Ramp-Up Account,” one of which will be designated the “Subordinated Note Ramp-Up Account” into which will be deposited net proceeds of the Subordinated Notes, one of which will be designated the “Interest Ramp-Up Account” and one of which will be designated the “Principal Ramp-Up Account” (the “Principal Ramp-Up Account” together with the “Interest Ramp-Up Account”, and shall be maintained with the Custodian in accordance with the Issuer Securities Account Control Agreement“Secured Note Ramp-Up Account”). The Issuer shall direct the Trustee to deposit the amount amounts specified in Section 3.1(a)(xii)(B3.1(a)(xi)(A) into in the Interest Ramp-Up Account and the Principal Ramp-Up Account, as applicable, on the Closing Date. In connection with any acquisition On behalf of an the Issuer, the Collateral Manager will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral ObligationObligations (using amounts in the Interest Ramp-Up Account or the Principal Ramp-Up Account (at the discretion of the Collateral Manager)) and invest in Eligible Investments any amounts not used to purchase such additional Collateral Obligations. At the discretion of the Collateral Manager, funds in the Interest Ramp-Up Account may be designated by written notice to the Trustee and the Collateral Administrator as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Interest Ramp-Up Account to, in the case of funds designated as Interest Proceeds, the Interest Collection Account of the Collection Account and, in the case of funds designated as Principal Proceeds, the Principal Ramp-Up Account or the Principal Collection Account of the Collection Account. On any date on or after the Target Initial Par Condition is satisfied and prior to the Determination Date preceding the second Payment Date, at the discretion of the Collateral Manager, funds in the Principal Ramp-Up Account may be designated by written notice as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall apply amounts be transferred from the Principal Ramp-Up Account to the Interest Collection Account or Principal Collection Account (as the case may be) of the Collection Account; provided that (i) after giving effect to such transfer, the conditions set forth in the definition of Target Initial Par Condition and the Specified Tested Items are satisfied and (ii) not more than 1.0% of the Target Initial Par Amount may be so designated as Interest Proceeds. Prior to the Effective Date, any Principal Proceeds shall be held in the Ramp-Up Account as provided by Section 7.18(a)Account. Upon On the first day after the Effective Date or upon the occurrence of an Event of Default (and excluding any proceeds that shall be used to settle binding commitments entered into prior to that date)which a Trust Officer of the Trustee has actual knowledge of, the Trustee shall will deposit any remaining amounts in the Principal Ramp-Up Account into the Reinvesting Principal Collection Account as Principal Proceeds. On the first Determination Date after the Effective Date (Proceeds and excluding any proceeds that will be used to settle binding commitments entered into prior to that date) on which no Rating Confirmation Failure has occurred and is continuing, (a) at the direction of the Collateral Manager the Trustee shall deposit any remaining amounts remaining in the Interest Ramp-Up Account into the Reinvesting Interest Collection Account as Interest Proceeds or (at the discretion and direction of the Collateral Manager) the Principal Collection Account as Principal Proceeds (except as provided in clause (b) below) and the Ramp-Up Account shall be closed and (b) the Collateral Manager may designate any remaining amounts in the Ramp-Up Account as Interest Proceeds to be deposited into the Collection Account (amounts so designated as Interest Proceeds, “Designated Unused Proceeds”), so long as, after giving effect to such designation, (i) the aggregate amount of Designated Principal Proceeds and Designated Unused Proceeds does not exceed 1.0% of the Target Initial Par Amount, (ii) the Principal Collateralization Amount is greater than the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the “Effective Date Interest Deposit Restrictions”). Any income earned on amounts deposited in the Ramp-Up Account shall will be deposited in the Reinvesting Interest Collection Account as Interest Proceeds.

Ramp-Up Account. In accordance with this Indenture and the Issuer Securities Account Control Agreement, the Trustee shall, prior to Before the Closing Date, the Trustee will establish with at the Custodian a single, segregated non-interest bearing trust account held in the name of “ABPCI Direct Lending Fund CLO XIII Ltd” which account shall be subject to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties and shall will be designated as the “"Ramp-Up Account”." On the Closing Date, the net proceeds of the issuance of the Notes remaining after payment of fees, expenses and shall allocations to other accounts as described herein, will be maintained deposited into the Ramp-Up Account. Of the proceeds of the issuance of the Notes which are not applied to pay for the purchase of Collateral Obligations purchased by the Issuer on or before the Closing Date (including, without limitation, repayment of any amounts borrowed by the Issuer in connection with the Custodian purchase of Collateral Obligations prior to the Closing Date) U.S.$183,842,954.77 representing proceeds of the issuance of the Notes will be deposited in accordance with the Issuer Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit the amount specified in Section 3.1(a)(xii)(B) into the Ramp-Up Account on the Closing Date. In connection with any acquisition addition, Principal Proceeds received by the Issuer prior to the Effective Date shall be deposited into the Ramp-Up Account. On behalf of an the Issuer, the Collateral Manager will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral ObligationObligations and invest in Eligible Investments any amounts not used to purchase such additional Collateral Obligations. Any purchase of a Collateral Obligation that will settle after the Closing Date shall be settled first with Principal Proceeds on deposit in the Collection Account and, only if sufficient amounts are not available in the Trustee shall apply Collection Account, with remaining amounts held on deposit in the Ramp-Up Account as provided by Section 7.18(a)Account. Upon the occurrence of an Event of Default (and excluding any proceeds that shall be used to settle binding commitments entered into prior to that date)Default, the Trustee shall will deposit any remaining amounts in the Ramp-Up Account into the Reinvesting Collection Account as Principal Proceeds. On the first Determination Date after the Effective Date (and excluding any proceeds that will 159 be used to settle binding commitments entered into prior to that date) on which no Rating into the Collection Account as Principal Proceeds. On the first Business Day after Effective Date Ratings Confirmation Failure has occurred and is continuingbeen obtained, (a) the Trustee will, at the direction of the Collateral Manager the Trustee shall Manager, deposit any remaining amounts remaining in the principal subaccount of the Ramp-Up Account into the Reinvesting Collection Account as Principal Proceeds (except as provided Proceeds, and any remaining amounts in clause (b) below) and the interest subaccount of the Ramp-Up Account shall be closed and (b) the Collateral Manager may designate any remaining amounts in the Ramp-Up Account as Interest Proceeds to be deposited into the Collection Account (amounts so designated as Interest Proceeds or Principal Proceeds, “Designated Unused Proceeds”), so long as, after giving effect to such designation, (i) at the aggregate amount of Designated Principal Proceeds and Designated Unused Proceeds does not exceed 1.0% discretion of the Target Initial Par Amount, (ii) the Principal Collateralization Amount is greater than the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the “Effective Date Interest Deposit Restrictions”)Collateral Manager. Any income earned on amounts deposited in the Ramp-Up Account shall will be deposited in the Reinvesting Collection Account as Interest Proceeds.