Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Credit-Linked Note, any Eligible Bond Asset, an Eligible Commercial Paper Note, Eligible Money Market Funds and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; PROVIDED that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Borrowing Base Eligible Asset means Cash, any Eligible Money Market Investment, any Eligible Loan Asset, any Eligible Commercial Paper Note, any Eligible Repurchase Agreement, any Eligible Bond Asset, any Eligible Government Security, any Eligible Convertible Security and any Eligible Equity Security (including, without limitation, any such Asset constituting a Foreign Asset) which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset (a) does not constitute (i) a Derivatives Transaction, an Illiquid Asset, or a Foreign Security System Asset or (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, short sale, call option, securities lending transaction or other Derivatives Transaction (other than (A) Permitted Call Options or (B) Derivatives Transactions entered into solely to protect against interest rate or currency risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement, put option or other Derivatives Transaction entered into by the Borrower or any cash or Asset subject to a Lien described in clause (viii) of the definition of Permitted Lien and (b) except with respect to Eligible Loan Assets and Cash, has an industry CUSIP, SEDOL or ISIN number that has been provided to the Custodian.
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Modified Margin Stock, an Equity Security, a Non-OECD Loan Asset, a Foreign Security System Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Examples of Borrowing Base Eligible Asset in a sentence
The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims and as of the initial Borrowing Date and at all times thereafter, the Program Agent has a first priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian's Overdraft Advances to the extent permitted by Section 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.
Notwithstanding the foregoing, the Borrower may, at any time retain the Initial Valuation Agent to undertake a valuation report (the “Valuation Report”) with respect to any Borrowing Base Eligible Asset (the Assigned Value in such Valuation Report, the “Initial Valuation”).
Following the receipt by the Borrower of such additional valuation report (and delivery of a copy thereof to the Agents) and if the amount of the Second Valuation is no more than 10.0% greater or lesser than the amount of the Initial Valuation, the Assigned Value in respect of the relevant Borrowing Base Eligible Asset for the purposes of clause (b) of the definition of “Assigned Value” shall be the amount equal to the average of the Initial Valuation and the Second Valuation.
Provide to the Custodian a CUSIP, SEDOL or ISIN number with respect to each Borrowing Base Eligible Asset (other than Loan Assets and Cash).
If the amount of the Third Valuation falls within the range of the Initial Valuation and the Second Valuation, the Assigned Value for such Borrowing Base Eligible Asset for the purposes of clause (b) above shall be the amount of the Third Valuation.
More Definitions of Borrowing Base Eligible Asset
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Loan Asset, a Citigroup Asset, a Distressed Loan Asset, or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Borrowing Base Eligible Asset means Cash, any Eligible Debt Security, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivatives Transaction, Margin Stock, an Equity Security, a Non-OECD Asset, a Citigroup Asset, a Distressed Asset (other than an Eligible DIP Asset), or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Borrowing Base Eligible Asset means Cash, any Eligible Debt Security, any Eligible Commercial Paper Note, any Eligible Credit Default Swap and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivatives Transaction (other than Eligible Credit Default Swaps), Margin Stock, an Equity Security, a Non-OECD Asset, a Citigroup Asset, a Distressed Asset (other than an Eligible DIP Asset), or a Foreign Currency Asset (other than an Eligible Foreign Currency Asset), (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement or Credit Default Swap entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Loan Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Borrowing Base Eligible Asset means Cash, any Eligible Money Market Investment, any Eligible Loan Asset, any Eligible Commercial Paper Note, any Eligible Repurchase Agreement, any Eligible Bond Asset and any Eligible Government Security (including, any such Asset constituting a Foreign Asset) which the Borrower is permitted to purchase in accordance with the Fundamental Policies which are free and clear of all Adverse Claims; provided that such Asset (a) does not constitute (i) a Derivatives Transaction, an Illiquid Asset, a Foreign Security System Asset, a Convertible Security or an Equity Security or (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, short sale, call option, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate or currency risk which have not been entered into for speculative purposes), including, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement, put option or other Derivatives Transaction entered into by the Borrower or any cash or Asset subject to a Lien described in Section 7.2(d) of this Credit Agreement and (b) except with respect to Eligible Loan Assets, Eligible Repurchase Agreements and Cash, has an industry CUSIP, SEDOL or ISIN number that has been provided to the Custodian.
Borrowing Base Eligible Asset means any Pool Asset other than any Pool Asset that constitutes a Foreign Currency Asset, a Foreign Security System Asset, a Non-OECD Asset, a Derivatives Transaction, Margin Stock, an Equity Security (other than Eligible 2a-7 Interests), an Other Excluded Pool Asset or an Asset which is the subject of Derivatives Transactions, reverse repurchase agreement, dollar roll or securities lending transactions, or an Asset held by a sub-custodian which is not located in the United States.
Borrowing Base Eligible Asset appearing in Section 1.01 of the Credit Agreement is hereby amended to insert the following at the beginning of clause (i) thereof, before the words "a Derivatives Transaction": "a Defaulted Asset,".