Credit Trigger means any of the following: (i) a Regulatory Event with respect to the Borrower Parent or any of its senior investment management personnel actively involved in managing the Collateral, (ii) a Change in Investment Adviser or (iii) any Change in Control of Borrower or Investment Adviser.
Credit Trigger refers to the specific point at which an individual SLA threshold is violated. Credit triggers are calculated by multiplying the Monthly Fee for associated services by the SLA Credit Amount (a Percentage), up to but not exceeding 100% of the monthly fee of the month in which the violation took place (unless otherwise specified).
Credit Trigger means any of the following: (i) a Regulatory Event with respect to any Key Personnel, Investment Adviser or Investment Adviser Parent, (ii) a Change in Investment Adviser, (iii) a Key Personnel Event or (iv) the Net Asset Value is less than $25 million on any date on or after the Closing Date and such Net Asset Value deficiency is not cured within 3 days following notice thereof to the Borrower by the Administrative Agent.
Examples of Credit Trigger in a sentence
If the Calculation Agent determines that a Credit Trigger has occurred, then, unless previously redeemed in full, the Notes will be redeemed by the Issuer paying the Credit Event Redemption Amount to the Holder of each Note (of the Specified Denomination) on the second Business Day following the FX Valuation Date.
Unless a Credit Trigger has occurred, or unless such Note has otherwise been previously redeemed or cancelled in full, each Note (of the Specified Denomination) will be redeemed on the Maturity Date by payment of the Final Redemption Amount.
No later than ten (10) Business Days after the occurrence of a Credit Trigger Event with respect to Owner, Owner shall provide Contractor with an irrevocable standby letter of credit in the form of Exhibit 4.1.2, issued by an Qualified Institution, with a drawable amount equal to [**] ($[**]) (the “Owner LOC”).
No later than ten (10) Business Days after the occurrence of a Credit Trigger Event with respect to a Guarantor, Contractor shall provide Owner with an irrevocable standby letter of credit in the form of Exhibit 4.7.c, issued by a Qualified Institution, with a drawable amount equal to [**] Dollars ($[**]) (the “Backup LOC”) with respect to each Guaranty issued by such Guarantor and outstanding at the time of such Credit Trigger Event.
Upon the occurrence of a Credit Trigger Event with respect to a Guarantor, Sellers shall provide Buyer with a Backup LOC with respect to each Guaranty issued by such Guarantor and outstanding at the time of such Credit Trigger Event.
More Definitions of Credit Trigger
Credit Trigger the meaning specified in subsection 8.3.
Credit Trigger means any of the following: (i) a Regulatory Event with respect to Borrower or Investment Adviser, (ii) a Change in Investment Adviser, (iii) any Change in Control occurs or (iv) the Net Asset Value is less than the aggregate Current Market Value of the Eligible Collateral Assets corresponding to the four obligors for which the Current Market Value of the Eligible Collateral Assets is the largest.
Credit Trigger means any of the following: (i) a Regulatory Event with respect to Borrower or Investment Adviser, (ii) a Change in Investment Adviser, (iii) any Change in Control occurs or (iv) the Net Asset Value is less than the aggregate Current Market Value of the Eligible Collateral Assets corresponding to the four obligors for which the Current Market Value of the Eligible Collateral Assets is the largest. “Current Market Price” has the meaning specified in Annex C. “Current Market Value” has the meaning specified in Annex C. “Current Market Value Percentage” has the meaning specified in Annex C. “Current Pay Obligation” has the meaning specified in Annex C. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. “Default Rate” means, with respect to any Credit Extension, 2.00% plus (a) in the case of any Eurocurrency Rate Loan, the Eurocurrency Rate plus the Applicable Rate and (b) in the case of any Base Rate Loan, the Base Rate plus the Applicable Rate. “Defaulted Obligation” has the meaning specified in Annex C. “Defaulting Lender” means, subject to Section 2.12(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Company in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent or any other Lender any other amount equal to or greater than $50,000 required to be paid by it hereunder within two Business Days of the date when due, (b) has notified the Company and the Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obli...
Credit Trigger means any of the following: (i) a Regulatory Event with respect to any Key Personnel, Investment Adviser or Investment Adviser Parent, (ii) a Change in Investment Adviser, (iii) a Key Personnel Event or (iv) the Net Asset Value is less than (A) $50,000,000 on any date on or after the date of the initial Credit Extension hereunder and prior to the six month anniversary of the Closing Date or (B) $125,000,000 on any date on or after the six month anniversary of the Closing Date and such Net Asset Value deficiency is not cured within 3 days following notice thereof to the Borrower by the Administrative Agent.
Credit Trigger shall have the meaning set forth in the ESFR Agreement.
Credit Trigger means any of the following: (i) a Regulatory Event with respect to any Key Personnel, Investment Adviser or Investment Adviser Parent, (ii) a Change in Investment Adviser, (iii) a Key Personnel Event or (iv) the Net Asset Value is less than (A) $50,000,000 on any date on or after the date of the initial Credit Extension hereunder and prior to the six month anniversary of the Closing Date, (B) $125,000,000 on any date during the period from and including December 27, 2014, to but excluding the Second Closing Date, (C) $175,000,000 on any date during the period from and including the Second Closing Date to and including the six month anniversary of the Second Closing Date, (D) $215,000,000 on any date after the six month anniversary of the Second Closing Date and prior to the Wind-Down Period, (E) the greater of (1) 17.2% of the Aggregate Commitments and (2) the Large Obligor Exposure Amount as of such date, on any date during the period from and including the Third Closing Date to but excluding the date of the first Credit Extension, if any, following the Reinvestment Date (provided, however, that in the case of this clause (E), if the Outstanding Amount is zero on such date, there shall be no minimum Net Asset Value Credit Trigger with respect to such date), and (F) $25,000,000 on any date during the period from and including the date of the first Credit Extension, if any, following the Reinvestment Date, to but excluding the three month anniversary of the Reinvestment Date or (G) the greater of (1) $25,000,000 and (2) 17.2% of the Aggregate Commitments on any date during the period on and after the three month anniversary of the Reinvestment Date and, in each case any such Net Asset Value deficiency is not cured within three days following notice thereof to the Borrower by the Administrative Agent. As used in this definition “Large Obligor Exposure Amount” means, as of any date, the aggregate Current Market Value of the Eligible Collateral Assets with respect to the five obligors that are obligors on the greatest amount of Eligible Collateral Assets by Current Market Value.
Credit Trigger means (a) a 15% (or greater) decline in the Net Worth of the Guarantor from the Net Worth of the Guarantor as of the Effective Date, (b) the Guarantor takes any affirmative action to terminate, cancel or repudiate this Agreement or any of its material obligations hereunder (except in accordance with the express terms hereof), or (c) the Guarantor