Adverse Claim Event definition

Adverse Claim Event means, with respect to any Portfolio Investment, (a) the existence of any lien, claim, security interest or other encumbrance ranking, in whole or in part, in priority to the Financing Provider’s interest in and to such Portfolio Investment (other than any lien, claim, security interest or encumbrance (i) created by the Financing Provider, (ii) in favor of any creditor or other person on account of any obligations of the Financing Provider or any of its Affiliates or (iii) which arises pursuant to, or which is permitted under, the terms of the relevant credit documentation) or (b) the commencement of any legal proceedings against the Financing Provider by any person on account of an obligation owed to such Person by the Company (and, for the avoidance of doubt, not any creditor or other person on account of any obligations of the Financing Provider or any of its Affiliates) in respect of any claim respecting the Financing Provider’s ownership of such Portfolio Investment which, if such claim were to be upheld by a court having the requisite jurisdiction, would impugn, negate or subordinate, in whole or in part, the Financing Provider’s legal and beneficial ownership of such Portfolio Investment or which would subject or subordinate, in whole or in part, the Financing Provider’s ownership of such Portfolio Investment to any lien, claim, security interest or encumbrance in favor of any other party. For the avoidance of doubt, restrictions on assignments or transfers, drag-along, tag-along, rights of first refusal and other similar rights pursuant to the Underlying Documentation of such Portfolio Investment shall not be deemed to be a “Adverse Claim Event.”
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Examples of Adverse Claim Event in a sentence

  • In the event that an Adverse Claim Event occurs in respect of a Reference Obligation which is already the subject of any deletion or other procedure prescribed by this Master Confirmation (other than the termination procedures prescribed by Sections 5 and 6 of the ISDA Master Agreement), the deletion procedures applicable to this Section 3(E) shall be applied as if such other deletion or other procedure had not been invoked.

  • If an Adverse Claim Event occurs in respect of a Reference Obligation, Party A may, by notice to Party B given in accordance with Section 12 of the ISDA Master Agreement, request that the Reference Obligation (or the relevant portion of the Face Amount thereof) applicable to such Transaction be deleted from the Portfolio.

Related to Adverse Claim Event

  • Adverse Claim means a lien, security interest, charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in favor of any other Person.

  • Adverse Grantor Trust Event As defined in Section 10.02(e).

  • Permitted Liens means, with respect to any Person:

  • Excluded Events has the meaning set forth in Section 6.1(d)(ii).

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.