Collateral Debt Security definition

Collateral Debt Security 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 a Synthetic Security, to the extent required to do so). Securities which are to constitute Collateral Debt Securities 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 Securities in the calculation of the Portfolio Profile Tests and the Target Date Rating Requirements 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 Collateral Manager on behalf of the Issuer was entered into a binding commitment to purchase it, shall not cause such security to cease to constitute a Collateral Debt Security. References to Collateral Debt Securities shall not include Eligible Investments, Collateral Enhancement Securities or Defaulted Equity Securities.

Collateral Debt Security and “Collateral Debt Securities”: Any loan, security or other obligation (other than Eligible Investments) owned by the Issuer (including those acquired after the Closing Date) that complied with the Eligibility Criteria at the time the Issuer entered into the commitment to acquire such loan, security or obligation.

Collateral Debt Security means any Asset Backed Security or any Structured Finance Security.

Examples of Collateral Debt Security in a sentence

• Under the Eligibility Criteria, a Collateral Debt Security will be eligible for purchase by the Issuer if, at the time it is purchased, either the payments thereon are not subject to withholding taxes imposed by any jurisdiction or the obligor is required to make "gross-up" payments that cover the full amount of any such withholding taxes.

• The Trust Preferred Securities, Subordinated Notes, Surplus Notes and Senior Securities are referred to herein collectively as the “Collateral Debt Securities”; provided that, in order for a security to be a Collateral Debt Security when purchased, it must satisfy the Collateral Debt Security Criteria and Eligibility Criteria applicable to such security.

• There can be no assurance as to what standard a court would apply in order to determine whether the issuer was "insolvent" after giving effect to the incurrence of the indebtedness constituting the Collateral Debt Security or that, regardless of the method of valuation, a court would not determine that the issuer was "insolvent" upon giving effect to such incurrence.

• He holds a Bachelor of Civil Engineering degree from the National University of Singapore and also a Diploma in Business Administration from Singapore Institute of Management.

• In addition, in the event of the insolvency of an issuer of a Collateral Debt Security, payments made on such Collateral Debt Security could be subject to avoidance as a "preference" if made within a certain period of time (which may be as long as one year and one day) before insolvency.

More Definitions of Collateral Debt Security

Collateral Debt Security means certain Trust Preferred Securities, CMBS, Subordinated Notes, and Senior Notes issued by Collateral Debt Securities Issuers purchased or otherwise acquired by the Issuer, including, without limitation, the Trust Preferred Securities, the Subordinated Notes, the Senior Notes and the CMBS identified on the Closing Date on the Schedule of Collateral Debt Securities and, at the time of purchase thereof by the Issuer, satisfy the Collateral Debt Security Criteria and the Eligibility Criteria.

Collateral Debt Security has the meaning assigned to such term in Annex B attached hereto.

Collateral Debt Security means a Loan; provided that in no event will Collateral Debt Securities include:

Collateral Debt Security means an item of Collateral which satisfies the Eligibility Criteria specified in Section 12.2.

Collateral Debt Security means any Asset Backed Security which, at the time of the Issuer entering into a binding commitment to acquire such obligation, satisfies the Eligibility Criteria, in each case denominated inU.S. Dollars and which is purchased by the Issuer pursuant to the Investment Management Agreement, or by the Investment Manager acting on behalf of the Issuer, the purchase price of which is paid in full in cash by the Issuer on the date of acquisition thereof provided that, solely for the purposes of the grant of the security interest to the Trustee for the benefit of the Secured Parties pursuant to the charging or assignment or pledging clauses of the Security Documents, Collateral Debt Securities shall include all securities or other obligations, instruments or investments referred to therein, regardless of whether such securities or other obligations, instruments or investments satisfy the tests as set forth in the definition of Eligibility Criteria. For the avoidance of doubt, the failure of any security or obligation to satisfy the Eligibility Criteria at any time after the Issuer has entered into a binding commitment to acquire it shall not cause such security or obligation to cease to constitute a Collateral Debt Security.

Collateral Debt Security means a debt security, Structured Finance Security or CDS Asset that meets the following standards as of the date of the Issuer’s commitment to purchase:

Collateral Debt Security means a debt obligation meeting each of the following standards: