Collateral Debt Obligation definition

Collateral Debt Obligation means any debt obligation or debt security purchased by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased by or on behalf of the Issuer) each of which satisfies the Eligibility Criteria, in the case of Synthetic Securities and Non-Euro Obligations, to the extent required to do so. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Equity Securities. Obligations which are to constitute Collateral Debt Obligations in respect of which the Issuer has entered into a binding commitment to purchase but which have not yet settled shall be included as Collateral Debt Obligations in the calculation of the Portfolio Profile Tests at any time as if such purchase had been completed. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Investment Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation.

Collateral Debt Obligation means any debt obligation purchased or acquired by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased by or on behalf of the Issuer) in accordance with the provisions of the Portfolio Management Agreement, each of which the Portfolio Manager has determined satisfies the Eligibility Criteria in accordance with the Portfolio Management Agreement or, where the context so requires, contemplated to be purchased for inclusion in the Portfolio from time to time which at the time of entering into a binding commitment to acquire such Collateral Debt Obligation satisfies the Eligibility Criteria. References to Collateral Debt Obligations shall not include Eligible Investments, or Exchanged Securities. Obligations which are to constitute Collateral Debt Obligations in respect of which the Issuer has entered into a binding commitment to purchase but which have not yet settled shall be included as Collateral Debt Obligations in the calculation of the Portfolio Profile Tests, Collateral Quality Tests, Coverage Tests and Additional Reinvestment Test (in accordance with the Portfolio Management Agreement) at any time as if such purchase had been completed. Collateral Debt Obligations in respect of which the Issuer has entered into a binding commitment to sell but which have not yet settled shall be excluded as Collateral Debt Obligations in the calculation of the Portfolio Profile Tests, Collateral Quality Tests, Coverage Tests and Additional Reinvestment Test (in accordance with the Portfolio Management Agreement) as if such sale had been completed. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Portfolio Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation; provided that an Issue Date Collateral Debt Obligation must also satisfy the Eligibility Criteria on the Issue Date. A Collateral Debt Obligation which has been restructured (whether effected by way of an amendment to the terms of such Collateral Debt Obligation (including but not limited to an extension of its maturity) or by way of substitution of new obligations and/or a change of Obligor) shall only constitute a Collateral Debt Obligation if it is a Restructured Obligation.

Collateral Debt Obligation means any obligation which, at the time of its purchase or acquisition by the Issuer, is (1) a U.S. dollar-denominated Loan (which may be a DIP Loan or a Second Lien Loan) made by a bank or other financial institution (that, on the date of acquisition by the Issuer, is not subordinate in right of payment by its terms to indebtedness of the borrower for borrowed money, trade claims, capitalized leases or other similar obligations), or (2) any Participation in a Loan described under the preceding clause (1); provided that, in each case, such obligation at the time of purchase or acquisition:

Examples of Collateral Debt Obligation in a sentence

• In the event that the Issuer receives any interest payments on any Collateral Debt Obligation net of any applicable withholding tax, the Coverage Tests and Collateral Quality Tests will be determined by reference to such net receipts.

• Any disposition of a Collateral Debt Obligation may change the composition and characteristics of the Collateral Debt Obligations and the rate of payment thereon and, accordingly, may affect the actual average lives of the Notes.

• Any disposition of a Collateral Debt Obligation may change the composition and characteristics of the remaining Portfolio and the rate of payment thereon and, accordingly, may affect the actual average lives of the Notes.

• To the extent that a default occurs with respect to any Collateral Debt Obligation securing the Notes and the Issuer sells or otherwise disposes of such Collateral Debt Obligation, it is likely that the proceeds of such sale or disposition will be less than the unpaid principal and interest thereon.

• To the extent that a default occurs with respect to any Collateral Debt Obligation and the Issuer or Trustee sells or otherwise disposes of such Collateral Debt Obligation, the proceeds of such sale or disposition are likely to be less than the unpaid principal and interest thereon.

More Definitions of Collateral Debt Obligation

Collateral Debt Obligation means on any date of determination, a security or loan which satisfies each of the following requirements:

Collateral Debt Obligation means any loan, high yield debt security (for the avoidance of doubt including Non-Euro Obligations), Structured Finance Security or Synthetic Security purchased by the Issuer from time to time pursuant to the Collateral Management Agreement, each of which satisfies the Eligibility Criteria to the extent required to do so and “Collateral Debt Obligations ” shall be construed accordingly provided always that references to Collateral Debt Obligations shall not include Collateral Enhancement Obligations and Exchanged Equity Securities;

Collateral Debt Obligation means any obligation which, at the time of its purchase or acquisition by the Issuer, is:

Collateral Debt Obligation means any debt obligation or debt security purchased by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased by or on behalf of the Issuer) and which satisfies the Eligibility Criteria. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Securities. The failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Investment Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation. A Collateral Debt Obligation which has been restructured (whether effected by way of an amendment to the terms of such Collateral Debt Obligation (including but not limited to an extension of its maturity) or by way of substitution of new obligations and/or change of Obligor) shall only constitute a Restructured Obligation if it satisfies the Restructured Obligation Criteria on the appropriate Restructuring Date.

Collateral Debt Obligation means any debt obligation or debt security which satisfies the Eligibility Criteria at the time a binding commitment was made to acquire such obligation or security (in the case of Synthetic Securities and Asset Swap Obligations, to the extent required to do so) and which is purchased by or on behalf of the Issuer from time to time pursuant to the Collateral Management Agreement. References to Collateral Debt Obligations shall include any Asset Swap Obligations, but shall not include Collateral Enhancement Obligations, Eligible Investments, Margin Stock or Equity Securities. For the avoidance of doubt, the failure by any obligation to satisfy the Eligibility Criteria at any time after the time a binding commitment was made to acquire such obligation or security shall not cause such obligation or security to cease to constitute a Collateral Debt Obligation. For the purposes of the Portfolio Profile Tests and the Collateral Quality Tests a debt obligation or debt security satisfying the Eligibility Criteria at the time a binding commitment to purchase such obligation or security is entered into shall be counted as a Collateral Debt Obligation from the time such binding commitment is entered into and a Collateral Debt Obligation in respect of which the Issuer has entered into a binding commitment to sell shall be excluded.

Collateral Debt Obligation means any debt obligation or debt security which satisfies the Eligibility Criteria at the time a binding commitment was made to purchase or acquire such debt obligation or debt security and which is purchased by or on behalf of the Issuer from time to time pursuant to the Investment Management Agreement. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Equity Securities. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Investment Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation.

Collateral Debt Obligation means any debt obligation, debt security or synthetic security (including, without limitation, any Participation in any of the foregoing purchased or acquired (including by Assignment) by or on behalf of the Issuer from time to time (or, if the context so requires, to be entered into, purchased or acquired by or on behalf of the Issuer) which the Portfolio Manager has determined in accordance with the Portfolio Management Agreement, satisfies the Eligibility Criteria at the time a binding agreement was made to enter into, purchase or acquire such obligation, security or synthetic security (or at such other time provided in the Portfolio Management Agreement), in the case of Synthetic Securities and Non-Euro Obligations, to the extent required to do so. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Equity Securities. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Portfolio Manager on behalf of the Issuer has entered into a binding agreement to enter into, purchase or acquire it (or after such other time provided in the Portfolio Management Agreement), shall not cause such obligation to cease to constitute a Collateral Debt Obligation. For the avoidance of doubt a loaned Collateral Debt Obligation shall not cease to constitute a Collateral Debt Obligation.