Collateral Obligation Criteria definition
Collateral Obligation Criteria means, with respect to any obligation, each of the following:
Collateral Obligation Criteria means, with respect to any obligation, each of the following (unless otherwise waived in writing by the Administrative Agent in its sole discretion): (a) such obligation is a First Lien Collateral Obligation, Second Lien Collateral Obligation or Senior Unitranche Loan; (b) such obligation has been approved by the Administrative Agent in accordance with the procedures set forth in Section 8; (c) the required Documentation Package has been delivered to the Collateral Custodian; (d) at the time of its Acquisition, neither the Borrower nor the Collateral Manager has knowledge of any Value Adjustment Event that has been proposed or is likely to occur as to such obligation; (e) on and at all times after the time of its Acquisition, such obligation is one as to which the Borrower has good and marketable title, free and clear of all Liens other than Permitted Liens; (f) such obligation is denominated in USD and is neither convertible by the obligor thereof into, nor payable in, any currency other than USD; (g) at the time of its Acquisition, it is not a Defaulted Obligation; (h) no portion of such obligation has been originated, documented, sold or contributed to a Borrower Entity or charged-off, in each case other than in accordance with all applicable policies and procedures of the Collateral Manager; (i) such obligation is not subject to a proposal or offer by the obligor of such obligation for a Restructuring in which all or a portion of the principal balance due would be reduced or forgiven; (j) such obligation does not mature more than 8 years after the date on which it was Acquired by the Borrower; (k) such obligation is governed by the laws of England, the United States or of the State of New York or Delaware; (l) such obligation is issued by an obligor that is Domiciled in the United States, the United Kingdom or Canada; (m) at the time of its Acquisition, such obligation has, (1) if it is not a Syndicated Collateral Obligation, an Assigned Price of at least 95% of par, or (2) if it is a Syndicated Collateral Obligation, an Assigned Price of at least 85% of par; (n) its Acquisition will not result in the imposition of stamp duty or stamp duty reserve tax payable by any Borrower Entity, unless such stamp duty or stamp duty reserve tax has been included in the purchase price of such obligation; 15
Collateral Obligation Criteria. “Collateral Portfolio Requirements”, “Pro Rata Share”, “Requisite Lenders” or “Spread” herein; or amend the definition of “Borrowing Base Deficiency” or “Cash Payment Threshold” in the Margining Agreement; (8) release all or substantially all of the Collateral except as expressly provided in the Transaction Documents and except in connection with a “credit bid” undertaken by the Collateral Agent at the direction of the Requisite Lenders pursuant to Section 363(k), Section 1129(b)(2)(a)(ii) or otherwise of the Bankruptcy Code or other analogous Debtor Relief Law or other sale or disposition of assets in connection with an enforcement action with respect to the Collateral permitted pursuant to the Transaction Documents (in which case only the consent of the Requisite Lenders will be needed for such release); or
Examples of Collateral Obligation Criteria in a sentence
Each Transferred Asset that is Conveyed hereunder meets, at the time of such Conveyance, the Collateral Obligation Criteria.
As of the Closing Date and each subsequent Purchase Date, each Loan transferred on such date satisfies the Collateral Obligation Criteria.
More Definitions of Collateral Obligation Criteria
Collateral Obligation Criteria means, with respect to any obligation, each of the following (unless otherwise waived in writing by the Administrative Agent in its sole discretion): (a) such obligation is a First Lien Collateral Obligation, Second Lien Collateral Obligation or Senior Unitranche Loan; (b) such obligation has been approved by the Administrative Agent in accordance with the procedures set forth in Section 8; (c) the required Documentation Package has been delivered to the Collateral Custodian; 15
Collateral Obligation Criteria means, with respect to any obligation, each of the following (unless otherwise waived in writing by the Administrative Agent in its sole discretion): (a) such obligation is a First Lien Collateral Obligation, Second Lien Collateral Obligation or Senior Unitranche Loan; (b) such obligation has been approved by the Administrative Agent in accordance with the procedures set forth in Section 8; (c) the required Documentation Package has been delivered to the Collateral Custodian; 15