Examples of Class A-1R Advances in a sentence
The Notes other than the Subordinated Notes bear interest at floating rates based on EURIBOR (or, in the case of the Class A-1S Notes, Sterling LIBOR and, in the case of Class A-1R Advances, the Applicable Benchmark).
The ability of the Investment Manager to reinvest Principal Proceeds and to invest the proceeds from Class A-1R Advances in the manner described under “Description of the Portfolio” and the decisions made regarding whether or not to reinvest such proceeds will also affect the average lives of each Class of the Notes.
This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to the benefit of the Holder and its successors and assigns, and may be assigned by the Holder.
During the Reinvestment Period, provided that the conditions are met, the Issuer (acting through the Investment Manager) may borrow, repay and re-borrow amounts through Class A-1R Advances and invest the proceeds in the acquisition of additional Collateral Debt Obligations which satisfy the Eligibility Criteria and in accordance with the Reinvestment Criteria.
The ability to borrow and re-borrow amounts through Class A-1R Advances may be terminated in certain situations (see "Description of the Class A-1R Notes—Termination of the Aggregate Class A-1R Commitment" below), in which event the principal so repaid will cease to be available for reinvestment.
The proceeds of the Class A-1R Advances will be used to purchase additional assets during the Reinvestment Period.
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Interest will accrue on such payments made by the transferee or purchaser in respect of the first Class A-1R Advance Interest Period, and the Class A-1R Commitment Fee in respect of such Class A-1R Notes, from and including the date on which the Defaulted Class A-1R Advances are funded by such transferee or purchaser to, but excluding the next Payment Date.
Class A- 1R Commitment Fee interest will subsequently accrue on such Class A-1R Advances in accordance with the provisions of Condition 6(f) ( Interest on the Class A-1R Notes).
Advances may be drawn in Euro (each, a "Class A1-R Euro Advance"), U.S. Dollars (each, a "Class A1-R USD Advance") or Sterling (each, a "Class A1-R Sterling Advance" and, together with the Class A1-R Euro Advances and the Class A1-R USD Advances, the "Class A1-R Advances").