Collateral Obligation Criteria definition

Collateral Obligation Criteria means, with respect to any obligation, each of the following:
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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-of f , 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 of fer 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) [reserved]; (k) such obligation is governed by the laws of England, the United States or of the State of New York or Delaware; 15
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Collateral Obligation Criteria means, with respect to any asset, each of the following:
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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.

Related to Collateral Obligation Criteria

  • Collateral Obligation means a Loan owned by the Borrower, excluding the Retained Interest thereon.

  • Delayed Drawdown Collateral Obligation A Collateral Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Documents relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid by the borrower thereunder; but any such Collateral Obligation will be a Delayed Drawdown Collateral Obligation only until all commitments by the Issuer to make advances to the borrower expire or are terminated or are reduced to zero.

  • Schedule of Collateral Obligations means the list or lists of Collateral Obligations attached to each Asset Approval Request and each Reinvestment Request. Each such schedule shall identify the assets that will become Collateral Obligations, shall set forth such information with respect to each such Collateral Obligation as the Borrower or the Facility Agent may reasonably require and shall supplement any such schedules attached to previously-delivered Asset Approval Requests and Reinvestment Requests.

  • General obligation bond means a Bond, the payment of principal of and interest on which is a General Obligation of the Authority.

  • General obligation bonds means, collectively, the Limited Tax General Obligation Bonds and the Unlimited Tax General Obligation Bonds.

  • Non-MERS Eligible Mortgage Loan Any Mortgage Loan other than a MERS Eligible Mortgage Loan.

  • REMIC Eligible Mortgage Loan A Mortgage Loan held by a REMIC which satisfies and/or complies with all applicable REMIC Provisions.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.

  • Final Cash Collateral Order means the Final Order (I) Authorizing Use of Cash Collateral, (II) Granting Adequate Protection, (III) Modifying the Automatic Stay to Permit Implementation, and (IV) Granting Related Relief [Docket No. 988] entered by the Bankruptcy Court on March 25, 2015, including all stipulations related thereto.

  • Eligible Mortgage Loan means a Mortgage Loan (including a Wet Funded Loan) with respect to which each of the following statements shall be accurate and complete (and Borrower, by including such Mortgage Loan in any computation of the Borrowing Base, shall be deemed to so represent and warrant to the Lenders as of the date of such computation):

  • Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.

  • Cash Collateral Order means the First Cash Collateral Order, as extended and modified by subsequent orders of the Bankruptcy Court [ECF Nos. 2402, 2726, 3207, 3480, 5580, 6128, 7378, 8081, 8467, 8671, 8958, 9112].

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Refinancing Effective Date shall have the meaning assigned to such term in Section 2.21(j).

  • Asset Coverage Test is met if the Adjusted Aggregate Asset Amount (as defined below) shall be in an amount at least equal to the Canadian Dollar Equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on the relevant Calculation Date. For greater certainty, references in this Schedule to “immediately preceding Calculation Date” and “previous Calculation Date” are to the Calculation Period ending on the Calculation Date.

  • Cash Collateral Orders means, collectively, the Interim Cash Collateral Order and the Final Cash Collateral Order.

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Streamlined Documentation Mortgage Loan Any Mortgage Loan originated pursuant to the Seller's Streamlined Loan Documentation Program then in effect.

  • Coverage Tests The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.