Asset Value Adjustment Event definition

Asset Value Adjustment Event means, with respect to any Collateral Asset, each occurrence of one or more of the following:
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Asset Value Adjustment Event means, with respect to any Collateral Loan, the occurrence of any of the following:
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Asset Value Adjustment Event means, with respect to any Collateral Asset, the occurrence of any one or more of the following events (which, for the avoidance of doubt, may occur more than once) after the related Addition Cut-Off Date: (i) (a) for Rated Collateral Assets (including Rated Collateral Assets which are Priced Loans or Senior Secured Bonds), a Rating Agency providing a Rating for such Collateral Asset has downgraded such Rating from the Rating in effect on the Addition Cut-Off Date and to a rating below “B-” (in the case of S&P or Fitch) or “B3” (in the case of Xxxxx’x), as applicable, or other equivalent rating level from another Rating Agency (it being understood that each downgrade shall be deemed to be a separate Asset Value Adjustment Event), or (b) for any Collateral Asset, the Updated Asset Value of such Collateral Asset reflected on the books and records of the Collateral Manager as of any Updated Asset Value Determination Date has declined by 15.0% or more below the USActive 60058040.860058040.11 -8-
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Examples of Asset Value Adjustment Event in a sentence

  • There is little doubt that the MBSD project site has significant infrastructure and cost challenges as well as significant land building and ecological benefits.


More Definitions of Asset Value Adjustment Event

Asset Value Adjustment Event means, with respect to any Collateral Loan (other than a Broadly Syndicated Loan), each occurrence of one or more of the following:
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Asset Value Adjustment Event means, with respect to any Collateral Asset, the occurrence of any one or more of the following events (which, for the avoidance of doubt, may occur more than once) after the related Addition Cut-Off Date: (i) (a) for Rated Collateral Assets (including Rated Collateral Assets which are Priced Loans or Senior Secured Bonds), a Rating Agency providing a Rating for such Collateral Asset has downgraded such Rating from the Rating in effect on the Addition Cut-Off Date and to a rating below “B-” (in the case of S&P or Fitch) or “B3” (in the case of Xxxxx’x), as applicable, or other equivalent rating level from another Rating Agency (it being understood that each downgrade shall be deemed to be a separate Asset Value Adjustment Event), or (b) for any Collateral Asset, the Updated Asset Value of such Collateral Asset reflected on the books and records of the Collateral Manager as of any Updated Asset Value Determination Date has declined by 15.0% or more below the Updated Asset Value of such Collateral Asset as of the immediately prior Updated Asset Value Determination Date; (ii) there is a default as to all or any portion of one or more payments of principal and/or interest (i) with respect to such Collateral Asset (giving effect to any grace period applicable thereto but in no event exceeding five (5) Business Days past the applicable due date) or (ii) under any other debt obligation of the Obligor which is senior or pari passu in right of payment to such Collateral Asset
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Related to Asset Value Adjustment Event

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Adjustment Events the Partnership makes a distribution on all outstanding OP Units in Partnership Units, (B) the Partnership subdivides the outstanding OP Units into a greater number of units or combines the outstanding OP Units into a smaller number of units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding OP Units by way of a reclassification or recapitalization of its OP Units. If more than one Adjustment Event occurs, the adjustment to the Class B Units need be made only once using a single formula that takes into account each and every Adjustment Event as if all Adjustment Events occurred simultaneously. For the avoidance of doubt, the following events shall not be Adjustment Events: (x) the issuance of Partnership Units in a financing, reorganization, acquisition or other similar business transaction, (y) the issuance of Partnership Units pursuant to any employee benefit or compensation plan or distribution reinvestment plan, or (z) the issuance of any Partnership Units in respect of a capital contribution to the Partnership, including a contribution by the General Partner of proceeds from the sale of securities by the General Partner. If the Partnership takes an action affecting the OP Units other than actions specifically described above as Adjustment Events and, in the opinion of the General Partner such action would require an adjustment to the Class B Units to maintain the one-to-one correspondence described above, the General Partner shall have the right to make such adjustment to the Class B Units, to the extent permitted by law, in such manner and at such time as the General Partner, in its sole discretion, may determine to be appropriate under the circumstances. If an adjustment is made to the Class B Units as herein provided, the Partnership shall promptly file in the books and records of the Partnership an officer’s certificate setting forth such adjustment and a brief statement of the facts requiring such adjustment, which certificate shall be conclusive evidence of the correctness of such adjustment absent manifest error. Promptly after the filing of such certificate, the Partnership shall mail a notice to each holder of Class B Units setting forth the adjustment to his, her or its Class B Units and the effective date of such adjustment.

  • Adjustment Event means each of the following events:

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • SOFR Adjustment Date means the second U.S. Government Securities Business Day before the first day of such Interest Period.

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Open Market Adjustment Amount shall have the meaning specified in Section 2(I).

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to (A) the Closing Net Working Capital as finally determined pursuant to this Section 2.5 minus the Estimated Net Working Capital, plus (B) Estimated Indebtedness minus Closing Indebtedness as finally determined pursuant to this Section 2.5, plus (C) Closing Cash as finally determined pursuant to this Section 2.5 minus Estimated Cash, plus (D) Estimated Transaction Expenses minus Closing Transaction Expenses as finally determined pursuant to this Section 2.5;

  • Net Asset Value per Share means the Net Asset Value of a Fund divided by the

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter (including the base management fee, expenses payable under the administration agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the incentive fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Company has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Change of Control Value means (i) the per share price offered to stockholders of the Company in any such merger, consolidation, reorganization, sale of assets or dissolution transaction, (ii) the price per share offered to stockholders of the Company in any tender offer or exchange offer whereby a Change of Control takes place, or (iii) if such Change of Control occurs other than pursuant to a tender or exchange offer, the Fair Market Value per share of the shares into which Awards are exercisable, as determined by the Committee, whichever is applicable. In the event that the consideration offered to stockholders of the Company consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash.

  • Net Asset Value per Unit means, for each Class of Partnership Unit, the net asset value per unit of such Class of Partnership Unit, determined as of the last business day of each month as described in the Prospectus.

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

Most Referenced Clauses

Most Referenced Definitions