Collateral Exposure Amount definition
Collateral Exposure Amount means, on any date of determination, the excess (if any) of (x) the aggregate unfunded amounts in respect of all Revolving Collateral Loans and Delayed Drawdown Collateral Loans, net of the aggregate amount on deposit in the Revolving Reserve Account on such date of determination, and all amounts due for unsettled purchases at such time over (y) Principal Proceeds on deposit in the Principal Collection Account on such date of determination and designated by the Borrower or the Collateral Manager to settle unsettled purchases reasonably expected by the Borrower or the Collateral Manager to be settled within the Collection Period in which the date of determination occurs, provided that if the date of determination occurs during the period beginning on a Determination Date and ending on the related Payment Date, such Principal Proceeds shall be included in the amount determined pursuant to this clause (y) only if such Principal Proceeds do not constitute Distribution Amounts and are permitted to be retained in the Principal Collection Account.