Applicable Collateral Value definition
Applicable Collateral Value. With respect to Eligible Loans relating to (i) Tier 3 Obligors, eighty-five percent (85.00%)
Applicable Collateral Value means, with respect to Eligible Loan Assets relating to (i) Tier 3 Obligors, 85.00%, (ii) Tier 2 Obligors, 92.50%, and (iii) Tier 1 Obligors, 100.00%.
Applicable Collateral Value. With respect to (a) Eligible Loans (other than Recurring Revenue Loans) relating to (i) Tier 3 Obligors, eighty-five percent (85.00%), (ii) Tier 2 Obligors, ninety-two and one-half percent (92.50%), and (iii) Tier 1 Obligors, one hundred percent (100.00%), and (b) Recurring Revenue Loans, eighty-five percent (85.00%). “Applicable Law”: For any Person or property of such Person, all existing and future laws, rules, regulations, statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental Authority which are applicable to such Person or property of such Person (including, without limitation, predatory and abusive lending laws; laws, rules and regulations relating to licensing, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy; usury laws; truth in lending laws (including the Federal Truth in Lending Act); and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System), and applicable judgments, decrees, injunctions, writs, awards or orders of any court, arbitrator or other administrative, judicial, or quasi-judicial tribunal or agency of competent jurisdiction which are applicable to such Person or property of such Person. “Applicable Leverage Ratio” means (a) with respect to First Lien Loans, the Obligor Net Senior Leverage Ratio of the applicable Obligor, (b) with respect to First Lien Last Out Loans and Second Lien Loans, Obligor Net Total Leverage Ratio of the applicable Obligor, and (c) with respect to Recurring Revenue Loans, the Debt-to-Recurring Revenue Ratio of the applicable Obligor. “Applicable Spread”: A rate per annum equal to (a) with respect to any Advance bearing interest at the Benchmark, (i) so long as no Event of Default has occurred and is continuing, 2.502.00% or (ii) if an Event of Default has occurred and is continuing, at the election (provided that in the case of any Event of Default described in Section 9.1(h) such election shall be automatic upon the occurrence of such Event of Default) of the Administrative Agent or the Required Lenders, upon written notice to the BorrowerBorrowers (which notice may be retroactive to the date of the applicable Event of Default), 4.504.00% and (b) with respect to any Advance bearing interest at the Base Rate, (i) so long as no Event of Default has occurred and is continuing, 1.501.00% or (ii) if an Event of Default has occurred and is continuing, ...
More Definitions of Applicable Collateral Value
Applicable Collateral Value. With respect to (a) Eligible Loans (other than Recurring Revenue Loans) relating to (i) Tier 3 Obligors, eighty-five percent (85.00%), (ii) Tier 2 Obligors, ninety-two and one-half percent (92.50%), and (iii) Tier 1 Obligors, one hundred percent (100.00%), and (b) Recurring Revenue Loans, eighty-five percent (85.00%). “Applicable Law”: For any Person or property of such Person, all existing and future laws, rules, regulations, statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental Authority which are applicable to such Person or property of such Person (including, without limitation, predatory and abusive lending laws; laws, rules and regulations relating to licensing, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy; usury laws; truth in lending laws (including the Federal Truth in Lending Act); and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System), and applicable judgments, decrees, injunctions, writs, awards or orders of any court, arbitrator or other administrative, judicial, or quasi-judicial tribunal or agency of competent jurisdiction which are applicable to such Person or property of such Person. “Applicable Leverage Ratio” means (a) with respect to First Lien Loans, the Obligor Net Senior Leverage Ratio of the applicable Obligor, (b) with respect to First Lien Last Out Loans and Second Lien Loans, Obligor Net Total Leverage Ratio of the applicable Obligor, and (c) with respect to Recurring Revenue Loans, the Debt-to-Recurring Revenue Ratio of the applicable Obligor. -5- [Willow Tree BDC] Amended and Restated Loan, Security and Collateral Management Agreement #506694681