Cov-Lite Loans definition
Cov-Lite Loans means (i) for so long as any Class A-1 Notes are Outstanding, any Loan that: (a) does not contain any financial covenants, or (b) does not require the underlying obligor to comply with a maintenance covenant; or (ii) for so long as no Class A-1 Notes are Outstanding, any Senior Secured Loan that: (a) does not contain any financial covenants, or (b) does not require the underlying obligor to comply with a maintenance covenant; provided, that for all purposes (other than for the purpose of determining the S&P Recovery Rate for such Loan), a Loan described in clause (ii)(a) or (ii)(b) above which either contains a cross-default provision to, or is pari passu with, another loan of the underlying obligor that requires the underlying obligor to comply with either a financial covenant or a maintenance covenant (and for the avoidance of doubt, for purposes of satisfying this proviso, compliance with a financial covenant or maintenance covenant may be required at all times or only while such other loan is funded) will be deemed not to be a Cov-Lite Loan.
Cov-Lite Loans means Cov-Lite Loans (Type A) and Cov-Lite Loans (Type B). “Cov-Lite Loan (Type A)” means any Loan that: