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.
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.
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.
Collateral Debt Obligations subject to these local law requirements may restrict the Issuer’s ability to purchase the relevant Collateral Debt Obligation or may require it to obtain exposure via a Participation.
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 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 Currency 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 Sub-Management Agreement. References to Collateral Debt Obligations shall include any Currency Swap Obligations but shall not include Collateral Enhancement Obligations, Eligible Investments or Defaulted Equity Securities. For the avoidance of doubt, the failure by any obligation to satisfy the Eligibility Criteria at any time after its acquisition shall not cause such obligation 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 obligation which, at the time of its purchase or acquisition by the Issuer, is:
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 security, including, without limitation, any Asset-Backed Security, Loan, Participation or Synthetic Security, in each case which satisfies the Eligibility Criteria at the time of its acquisition by the Issuer; provided that for the purposes of the grant of the security interest to the Trustee pursuant to the Trust Deed and the Euroclear Pledge Agreement, Collateral Debt Obligations shall include all securities, loans and participations referred to therein regardless of whether such securities, loans or participations satisfied the Eligibility Criteria. For the avoidance of doubt, the failure of any security, loan or participation to satisfy the Eligibility Criteria at any time after the time the Issuer (or the Portfolio Manager on behalf of the Issuer pursuant to the Portfolio Management Agreement) agreed to purchase such security, loan or participation shall not cause such security, loan or participation to cease to be a Collateral Debt Obligation. References to Collateral Debt Obligations shall, where the context permits, include Swapped Fixed Rate Collateral Debt Obligations and Swapped Non-Quarterly Pay Collateral Debt Obligations.