Watch List – Probable Loss Sample Clauses

Watch List – Probable Loss. Borrower is operating more than 40% below the GMS Finance Base Case and at the current level of operations and financial condition, the borrower does not have the ability to service and ultimately repay or refinance all outstanding debt on current terms. Payment default is very likely or may have already occurred. The prospects for improvement in the borrower’s situation are sufficiently negative that impairment of some or all of GMS Finances’ principal is probable. For the purpose of this definition, “probable” means greater than 70%. An impairment and non-accrual status may have been implemented. Approval and Maintenance of Risk Ratings on Middle Market Loans Rating Agency Rating. If the rating is a credit estimate, it is the responsibility of the Underwriting Staff to provide all information required by the rating agencies for the initial rating as well as updates. Notice of initial ratings or any change in ratings should be communicated immediately to Risk Management. Risk Management is responsible for forecasting rating changes as appropriate. Carlyle GMS Finance, Inc. 5 Risk Policy Manual – May 2013 Trade Secret and Strictly Confidential Internal Risk Rating. It is the responsibility of the Portfolio Management Staff to maintain MS Finance’s Internal Risk Rating for Middle Market Loans on a timely basis. All ratings should be reviewed at least quarterly or more frequently as necessary in conjunction with the normal Loan Monitoring process (see Policy 5.0 – Loan Monitoring, and Policy 5.1 – Portfolio Reviews.) All changes in borrower status or performance which would trigger a downgrade in GMS Finance’s Internal Risk Rating for that borrower should be communicated on a timely basis to Risk Management. Additionally, all downgrades to 4 or worse will be communicated to the GMS Finance Investment Committee (the “Investment Committee”), GMS Finance General Counsel (“General Counsel”), GMS Finance Chief Financial Officer (“CFO”), GMS Finance Chief Accounting Officer (“CAO”) and GMS Director of Operations. Final Authority for the Internal Risk Rating Internal Risk Rating changes must be approved in accordance with Policy 2.0 - Risk Rating Methodology and Policy 2.1 – Approval Authorities. Carlyle GMS Finance, Inc. 6 Risk Policy Manual – May 2013 Trade Secret and Strictly Confidential POLICY 2.1 – APPROVAL AUTHORITIES Scope The following authorities specifically cover Middle Market Loans.
Sample 1
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Watch List – Probable Loss. Borrower is operating more than 40% below the GMS Finance Base Case and at the current level of operations and financial condition, the borrower does not have the ability to service and ultimately repay or refinance all outstanding debt on current terms. Payment default is very likely or may have already occurred. The prospects for improvement in the borrower’s situation are sufficiently negative that impairment of some or all of GMS Finances’ principal is probable. For the purpose of this definition, “probable” means greater than 70%. An impairment and non-accrual status may have been implemented.
Sample 1
Watch List – Probable Loss. Structured Credit Investment is expected to experience an actual loss of principal (non-xxxx-to-market) with little possible upside, and declining or no cash flow.
Sample 1

Related to Watch List – Probable Loss

  • Total Liabilities to Tangible Net Worth Permit or suffer the --------------------------------------- ratio of Consolidated Total Liabilities of the Company and its Subsidiaries to Consolidated Tangible Net Worth of the Company and its Subsidiaries to be greater than 2.00 to 1.00 at any time.

  • Consolidated Total Liabilities All liabilities of the Borrower and its Subsidiaries determined on a consolidated basis in accordance with generally accepted accounting principles and all Indebtedness of the Borrower and its Subsidiaries, whether or not so classified.

  • Joint Liability Each representation, warranty, covenant and agreement made by Parent or Merger Sub in this Agreement shall be deemed a representation, warranty, covenant and agreement made by Parent and Merger Sub jointly and all liability and obligations relating thereto shall be deemed a joint liability and obligation of Parent and Merger Sub.

  • Independent Liability Each Borrower hereby agrees that one or more successive or concurrent actions may be brought hereon against such Borrower, in the same action in which any other Borrower may be sued or in separate actions, as often as deemed advisable by Agent. Each Borrower is fully aware of the financial condition of each other Borrower and is executing and delivering this Agreement based solely upon its own independent investigation of all matters pertinent hereto, and such Borrower is not relying in any manner upon any representation or statement of the Agent or any Lender with respect thereto. Each Borrower represents and warrants that it is in a position to obtain, and each Borrower hereby assumes full responsibility for obtaining, any additional information concerning any other Borrower’s financial condition and any other matter pertinent hereto as such Borrower may desire, and such Borrower is not relying upon or expecting the Agent to furnish to it any information now or hereafter in the Agent’s possession concerning the same or any other matter.

  • Total Liability Subject to section 9 and section 10, LogRhythm’s total cumulative liability in connection with this Agreement, the Products, Cloud Services and any related services, whether in contract or tort (including negligence) or otherwise, will not exceed a sum equal to 1.25 times the amount of fees (including Support Services Fees (if any)) paid or payable by Customer to Authorized Reseller during the twelve (12) month period preceding the events giving rise to such liability or five thousand British pounds (GBP£5,000), whichever is the higher.

  • No Material Deterioration in Financial Condition; Financial Statements All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the consolidated results of operations of Borrower and its Subsidiaries. There has not been any material deterioration in the consolidated financial condition of Borrower and its Subsidiaries since the date of the most recent financial statements submitted to any Lender.

  • Consolidated Tangible Net Worth (i) The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

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