Common use of Scheduled Testing of Values Clause in Contracts

Scheduled Testing of Values. (i) Each April 30, July 31, October 31 and January 30 of each calendar year (or such other quarterly dates as are reasonably agreed by the Borrower and the Administrative Agent each a “Valuation Testing Date”), the Administrative Agent, through a reputable independent valuation provider with experience in middle market assets selected by the Administrative Agent (the “Independent Valuation Provider”), will test the values as of such Valuation Testing Date determined pursuant to Section 5.12(b)(ii) above of those Portfolio Investments included in the Borrowing Base selected by the Administrative Agent. The fair value of such Portfolio Investments tested as of any Valuation Testing Date shall be approximately equal to the Tested Amount (as defined below).

Scheduled Testing of Values. (iA) Each April March 31, June 30, July 31, October September 30 and December 31 and January 30 of each calendar year year, (or such other quarterly dates as are reasonably agreed by the Borrower and the Administrative Agent Agent, each a “Valuation Testing Date”), ) the Administrative Agent, Agent through a reputable an independent valuation provider with experience in middle market assets selected by the Administrative Agent in its reasonable discretion (the “Independent Valuation Provider”), ) will test the values as of such Valuation Testing Date determined pursuant to Section 5.12(b)(ii) above of those Portfolio Investments included in the Borrowing Base selected by the Administrative Agent. The fair value of such Portfolio Investments tested as of any Valuation Testing Date shall be approximately at least equal to the Tested Amount (as defined below); provided, however, in no event shall more than 25% of the aggregate value of the Unquoted Investments in the Borrowing Base be tested by the Independent Valuation Provider in respect of any applicable Valuation Testing Date.