Credit Improved Criteria definition

Credit Improved Criteria. The criteria that will be met if, with respect to any Collateral Obligation, any of the following occur:

Credit Improved Criteria means the criteria that will be met with respect to any Collateral Debt Obligation if any of the following occur:

Credit Improved Criteria means with respect to any Collateral Debt Obligation, the occurrence and continuance of any of the following:

Examples of Credit Improved Criteria in a sentence

• Any Underlying Asset that (a) in the Asset Manager’s commercially reasonable business judgment (which shall not be called into question as a result of subsequent events or determinations for other clients of the Asset Manager), has improved in credit quality since its acquisition by the Issuer; and (b) if the Restricted Trading Condition applies, satisfies at least one of the Credit Improved Criteria.

• Any Collateral Obligation which, in the Collateral Manager's reasonable commercial judgment (which may be, but need not be, based on one or more of the Credit Improved Criteria and which judgment shall not be called into question as a result of subsequent events), has significantly improved in credit quality after it was acquired by the Issuer.

• Any Collateral Debt Obligation that, in the Collateral Manager’'s good faith judgment, has significantly improved in credit quality after it was acquired by the Issuer; provided, however, that on a day on which the Restricted Trading Condition is applicable, a Collateral Debt Obligation will qualify as a Credit Improved Obligation only if, since it was acquired by the Issuer, the Credit Improved Criteria are also satisfied with respect to such Collateral Debt Obligation.

• Any Collateral Obligation that in the commercially reasonable business judgment of the Collateral Manager (which judgment shall not be called into question as a result of subsequent events) has significantly improved in credit quality since the date of acquisition which judgment may (but need not) be based on one or more of the Credit Improved Criteria.

• Any Collateral Obligation, in the Collateral Manager’s reasonable commercial judgment (which judgment shall not be called into question as a result of subsequent events), has significantly improved in credit quality after it was acquired by the Issuer, which may (but need not) be based on one or more of the Credit Improved Criteria.

More Definitions of Credit Improved Criteria

Credit Improved Criteria means the criteria that will be met with respect to any

Credit Improved Criteria means at the discretion of the Portfolio Manager (i) the Loan Pricing Change since the date of purchase by the Issuer has been a price increase of 0.50% or more or (ii) the Bond Yield Change since the date of purchase by the Issuer has been a yield decrease of 0.80% or more.

Credit Improved Criteria means the criteria that will be met with respect to any Collateral Debt Obligation if, as determined by the Collateral Manager in its sole discretion:

Credit Improved Criteria means for any Collateral Debt Obligation, such Collateral Debt Obligation must meet at least one of the following criteria: (a) on any date of determination, (i) in the case of any Floating Rate Collateral Debt Obligation, the difference between its market price (expressed as a percentage of par value) and its purchase price is greater than 0.50 per cent. or (ii) in the case of any Fixed Rate Collateral Debt Obligation, the percentage change in price of such Collateral Debt Obligation during the period from the date on which it was acquired by the Issuer to the date of determination either is more positive, or less negative as the case may be, than the percentage change in the Lehman Euro High Yield Index over the same period by 0.50 per cent.; (b) the cash flow interest coverage ratio (earnings before interest and taxes divided by cash interest expense) of the Obligor of such Collateral Debt Obligation is more than 1.15 times the cash flow interest coverage ratio at the end of the preceding Due Period; (c) (i) it has been placed under review for upgrade or has been upgraded by Moody’s or (ii) it has been upgraded by S&P; (d) in the case of any Fixed Rate Collateral Debt Obligation, there has been a decrease in the difference between its yield compared to the yield on the relevant United States Treasury security of more than 7.5 per cent. since the date of purchase; or (e) there has been a reduction in its spread over the applicable reference rate since the date of purchase by 0.125 per cent. ormore due to an improvement in the financial ratios or financial results of the Obligor of such Collateral Debt Obligation in accordance with the related Underlying Instrument.

Credit Improved Criteria. The criteria that will be met if, with respect to any Collateral Obligation, any of the following occur: (a) such Collateral Obligation has experienced a reduction in its credit spread of 10% or more compared to the credit spread in effect as of the Cut-Off Date for such Collateral Obligation, such reduction in spread being determined by reference to an Eligible Loan Index; or (b) such Collateral Obligation has a Market Value above the higher of (i) par and (ii) the initial purchase price paid by the Issuer for such Collateral Obligation. “Credit Improved Obligation”: Any Collateral Obligation, which in the Collateral Manager’s reasonable commercial judgment (which judgment shall not be called into question as a result of subsequent events), has significantly improved in credit quality after it was acquired by the Issuer, which may (but need not) be based on one or more of the Credit Improved Criteria; provided that, if a Restricted Trading Period is in effect, (i) such Collateral Obligation satisfies at least one of the Credit Improved Criteria or (ii) the Collateral Manager must obtain the consent of a Majority of the Controlling Class. “Credit Risk Criteria”: The criteria that will be met if, with respect to any Collateral Obligation, any of the following occur: (a) the spread over the Reference Rate or other Eligible Loan Index for such Collateral Obligation has been increased since the date of purchase by the Issuer by (A) 0.25% or more (in the case of a Collateral Obligation with a spread over the applicable reference rate selected by the Collateral Manager in the exercise of its reasonable business judgment (prior to such increase) less than or equal to 2.00%), (B) 0.375% or more (in the case of a Collateral Obligation with a spread over the applicable reference rate selected by the Collateral Manager in the exercise of its reasonable business judgment (prior to such increase) greater than 2.00% but less than or equal to 4.00%) or (C) 0.5% or more (in the

Credit Improved Criteria. The criteria that will be met if, with respect to any Collateral Obligation, the change in price of such Collateral Obligation during the period from the date on which it was acquired by the Issuer to the date of determination by a percentage either is more positive, or less negative, as the case may be, than the percentage change in the average price of any index specified on the Approved Index List plus 0.50 percentage points over the same period.

Credit Improved Criteria means criteria that will be met with respect to a particular Collateral Obligation if (in each case since the date on which such Collateral Obligation was purchased) (i) such Collateral Obligation has been upgraded at least one rating sub-category by either Rating Agency or has been placed and remains on credit watch with positive implication by either Rating Agency or (ii) in the case of a loan, it has increased in price to 101.0% or more of its purchase price or experienced a reduction in credit spread (a) by 50 basis points or more, if the original credit spread was greater than 200 basis points, or (b) by 25 basis points or more, if the original credit spread was less than or equal to 200 basis points.