Collateral Manager Standard. The standard of care applicable to the Collateral Manager set forth in the Collateral Management Agreement.
Collateral Manager Standard. The meaning specified in Section 6.2(e).
Collateral Manager Standard. The meaning specified in the Collateral Management Agreement.
Examples of Collateral Manager Standard in a sentence
Except as may otherwise be expressly provided in this Agreement, the Collateral Manager will perform its obligations hereunder in accordance with the Collateral Manager Standard.
The Collateral Manager will use commercially reasonable efforts consistent with the Collateral Manager Standard to collect or cause to be collected all payments called for under the terms and provisions of the Loans included in the Collateral as and when the same become due.
The Collateral Manager will comply with the Collateral Manager Standard and Applicable Law in realizing upon such Underlying Assets, and employ practices and procedures including reasonable efforts consistent with the Collateral Manager Standard to enforce all obligations of Obligors by foreclosing upon, repossessing and causing the sale of such Underlying Assets at public or private sale in circumstances other than those described in the preceding sentence.
The Collateral Manager may, in its discretion and consistent with the Collateral Manager Standard and the Underlying Instruments, foreclose upon or repossess, as applicable, or otherwise comparably convert the ownership of any Underlying Assets relating to a Loan that has become subject to any default and as to which no satisfactory arrangements can be made for collection of delinquent payments.
Prior to the Closing Date and periodically thereafter at the discretion of the Administrative Agent and each Lender, the Administrative Agent and each Lender may review the Collateral Manager’s collection and administration of the Collateral in order to assess compliance by the Collateral Manager with the Collateral Manager Standard, as well as with this Agreement and may conduct an audit of the Collateral, and Required Loan Documents in conjunction with such a review.
More Definitions of Collateral Manager Standard
Collateral Manager Standard means the standard of care set forth in Section 2(a).
Collateral Manager Standard means, with respect to any Collateral Obligations, to service and administer such Collateral Obligations on behalf of the Borrower for the benefit of the Secured Parties (including in respect of any exercise of discretion) with reasonable care (i) using a similar degree of care, skill and attention as it employs with respect to similar collateral that which the Collateral Manager exercises with respect to comparable assets and/or portfolios that such Person manages for itself and others having similar investment objectives and restrictions and (ii) to the extent not inconsistent with clause (i), the Collateral Manager’s customary standards, policies and procedures.
Collateral Manager Standard has the meaning assigned to such term in Section 11.02(d).
Collateral Manager Standard shall have the meaning set forth in Section 2(a).
Collateral Manager Standard. The standard of care applicable to the Collateral Manager set forth in the Collateral Management Agreement. “Collateral Obligation”: A Senior Secured Loan (including, but not limited to, interests in middle market loans acquired by way of a purchase or assignment) or Participation Interest therein, a Second Lien Loan or Participation Interest therein, or a DIP Collateral Obligation or a Participation Interest therein, that as of the date of acquisition by the Issuer: (i) is Dollar denominated and is neither convertible by the Obligor thereof into, nor payable in, any other currency; (ii) is not (A) a Defaulted Obligation or (B) a Credit Risk Obligation; (iii) is not a lease; (iv) if it is a Deferrable Obligation, it is a Permitted Deferrable Obligation; (v) provides for a fixed amount of principal payable in Cash on scheduled payment dates and/or at maturity and does not by its terms provide for earlier amortization or prepayment at a price of less than par;
Collateral Manager Standard. The meaning specified in Section 6.2(e). “Collateral Manager Termination Event”: The occurrence of any one of the following: (a) any failure on the part of the Collateral Manager to duly observe or perform in any material respect the covenants or agreements of the Collateral Manager set forth in any Transaction Document to which the Collateral Manager is a party, which failure -12- USActive 55348338.2 continues unremedied for a period of thirty (30) days after the earlier to occur of (i) the date on which written notice of such failure shall have been delivered to the Collateral Manager by the Administrative Agent or the Borrower, and (ii) the date on which a Responsible Officer of the Collateral Manager acquires actual knowledge thereof; (b) an Insolvency Event shall occur with respect to the Collateral Manager; (c) the occurrence of a Change of Control with respect to the Collateral Manager; (d) the occurrence of an Event of Default; (e) any representation, warranty or certification made by the Collateral Manager in any Transaction Document or in any certificate delivered pursuant to any Transaction Document shall prove to have been incorrect when made, which inaccuracy has a Material Adverse Effect on the Lenders and which continues to be unremedied for a period of thirty (30) days after the earlier to occur of (i) the date on which written notice of such inaccuracy shall have been given to the Collateral Manager by the Administrative Agent or the Borrower and (ii) the date on which a Responsible Officer of the Collateral Manager acquires actual knowledge thereof; (f) the occurrence or existence of any change with respect to the Collateral Manager which has a material and adverse effect on the Collateral Manager’s ability to perform its obligations under the Transaction Documents; (g) any failure by the Collateral Manager to deliver any Required Reports (other than any Required Reports not yet received by the Collateral Manager) required to be delivered by the Collateral Manager hereunder on or before the date occurring ten (10) Business Days after written notice of such failure or such request is delivered to the Collateral Manager by the Administrative Agent; (h) the failure of the Collateral Manager to make any payment when due (after giving effect to any related grace period) with respect to any borrowed money which exceeds $5,000,000 in the aggregate, or the occurrence of any event or condition that has resulted in the acceleration of such borrowed...
Collateral Manager Standard. The standard of care applicable to the Collateral Manager when performing services on behalf of the Issuer as set forth in the Collateral Management Agreement. "Collateral Obligation": An obligation pledged by the Issuer to the Collateral Trustee that is (A) a Senior Secured Loan, a First Lien Last Out Loan or a Second Lien Loan (in each case, including, but not limited to, interests in Middle-Market Loans or Broadly Syndicated Loans by way of a purchase or assignment), (B) a Permitted Obligation or (C) in the case of any Loan described in clauses (A) or (B), a Participation Interest therein that, in each case, as of the date of the commitment to purchase by the Issuer: (i) is U.S. Dollar denominated and is neither convertible by the issuer thereof into, nor payable in, any other currency; (ii) is not (a) a Defaulted Obligation or (b) a Credit Risk Obligation (in each case, unless such obligation is being acquired in connection with a Bankruptcy Exchange); (iii) is not a lease (including a finance lease); (iv) if it is a Deferrable Obligation, (a) is a Permitted Deferrable Obligation and (b) is not deferring or capitalizing the payment of current cash pay interest thereon, paying current cash pay interest "in kind" or otherwise have an interest "in kind" balance outstanding with respect to cash pay interest (in each case, unless such obligation is being acquired in connection with a Bankruptcy Exchange); (v) provides for a fixed amount of principal payable in Cash on scheduled payment dates and/or at maturity and does not by its terms provide for earlier amortization or prepayment at a price of less than par; (vi) does not constitute Margin Stock; (vii) is an obligation with respect to which the Issuer will receive payments due under the terms of such obligation and proceeds from disposing of such obligation free and clear of withholding tax, other than with respect to FATCA or withholding tax as to which the Obligor or issuer must make additional payments so that the net amount received by the Issuer after satisfaction of such tax is the amount due to the Issuer before the imposition of any withholding tax; provided that this clause (vii) shall not apply to any withholding tax imposed on (x) any amendment, waiver, consent or extension fees or (y) commitment fees and other similar fees associated with Revolving Collateral Obligations or Delayed Drawdown Collateral Obligations; (viii) has an S&P Rating; (ix) is not an obligation whose repayment is subject t...