CLO Takeout definition

CLO Takeout means the day on which the Borrower issues subordinated notes and secured notes (collectively, “CLO Securities”) pursuant to an indenture between, among others, the Borrower and such trustee as may be agreed by the parties, as trustee in respect of a collateralized loan obligation offering, in an amount at least sufficient to repay all Obligations outstanding under this Agreement and all other Transaction Documents.
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CLO Takeout means any securitization in a capital market transaction or private placement offering in which the Borrower (with the consent of the Administrative Agent in its sole discretion) sells Collateral pledged hereunder, directly or indirectly, to an Affiliate or an affiliated entity that issues or arranges for the issuance of asset-backed debt obligations (whether in the form of notes or revolving and/or term loans) collateralized, in whole or in part, by such Collateral.
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CLO Takeout means, in connection with a permanent reduction of the Facility Amount in an amount up to $150,000,000 pursuant to Section 2.5(a), the issuance of subordinated notes or equity interests, as applicable, and secured notes (collectively, “CLO Securities”) pursuant to an indenture between, among others, the CLO Issuer and such trustee as may be agreed by the parties, as trustee in respect of a collateralized loan obligation offering, in an amount at least sufficient to repay such portion of the Obligations outstanding under this Agreement and all other Transaction Documents that were incurred in connection with such issuance.
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Examples of CLO Takeout in a sentence

  • The security interest granted to secure the obligations of the Borrower Parties hereunder shall be terminated and released with respect to any Portfolio Asset sold by any Borrower Party, or transferred in connection with an Approved CLO Takeout, on the date of settlement of such sale, or the related CLO Takeout Date, respectively.

  • Each party (other than the Borrower) agrees not to cause the filing of a petition for the winding up of the Borrower for the non-payment of any amounts provided in this Agreement until at least one year (or, if longer, the applicable preference period then in effect) plus one day, after the payment in full of amounts owing to the Administrative Agent or the Lenders hereunder and, if the CLO Takeout shall have occurred, under any CLO Securities.

  • Each party (other than the Borrower Parties) agrees not to cause the filing of a petition for the winding up of any Borrower Party for the non-payment of any amounts provided in this Agreement until at least one year (or, if longer, the applicable preference period then in effect) plus one day, after the payment in full of amounts owing to the Administrative Agent or the Lenders hereunder and, if a CLO Takeout Date shall have occurred, under any CLO Securities.


More Definitions of CLO Takeout

CLO Takeout means any issuance of notes or other securities or obligations (a) by a newly formed collateralized loan obligation special purpose vehicle (the "CLO Vehicle") (i) managed or advised on a discretionary basis by the Servicer or any of its Affiliates, (ii) whose equity capitalization is provided by the Transferor, (iii) that acquires all or a portion of the Loan Assets indirectly from the Borrower through the Transferor (or an Affiliate of the Transferor not including the Borrower), including via participation subject to elevation within ninety (90) days, (b) for which an Affiliate of the Administrative Agent or another entity satisfactory to the Administrative Agent acts as lead structuring agent and underwriter, and the structure of such collateralized loan obligation transaction, including, without limitation, for regulatory and bankruptcy purposes, is satisfactory to the Administrative Agent or such Affiliate of the Administrative Agent in their respective sole discretion (which approval is hereby granted in connection with the CLO Takeout to occur on or about the Amendment No. 3 Effective Date), and (c) where the proceeds of such issuance may be used to repay a portion or all of the Advances Outstanding.
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Related to CLO Takeout

  • Privatization contract or “contract” means an agreement or

  • Manufactured-home transaction means a secured transaction:

  • Online Transaction means any Phone/Electronic Transaction requested through an Electronic Transmission over the Internet.

  • Equity Contract means any transaction or instrument that does not convey to Dealer rights, or the ability to assert claims, that are senior to the rights and claims of common stockholders in the event of Counterparty’s bankruptcy.

  • Related Party Contract has the meaning specified in Section 5.24.

  • Credit-sale contract means the same as defined in section 203.1.

  • Procurement Contract or “Contract” means any written agreement of the Authority for the acquisition of goods or services of any kind in the actual or estimated amount of $25,000, or more.

  • FHA means the Federal Housing Administration, an agency within the United States Department of Housing and Urban Development, or any successor thereto, and including the Federal Housing Commissioner and the Secretary of Housing and Urban Development where appropriate under the FHA Regulations.

  • Government Contract means any Contract between, on the one hand, the Company or any of the Subsidiaries and, on the other hand: (i) the United States government or any other Governmental Authority, (ii) any prime contractor to the United States government or any other Governmental Authority or (iii) any subcontractor with respect to any Contract described in clauses (i) or (ii).

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • Equity-linked Securities means any debt or equity securities that are convertible, exercisable or exchangeable for Class A Shares issued in a financing transaction in connection with a Business Combination, including but not limited to a private placement of equity or debt.