Cumulative Deferred Management Fee definition

Cumulative Deferred Management Fee shall have the meaning set forth in Section 8(a).

Cumulative Deferred Management Fee. All or a portion of the previously deferred Collateral Management Fees or Collateral Management Fee Shortfall Amounts (including accrued interest prior to the Payment Date on which the payment of such Collateral Management Fee Shortfall Amount was deferred by the Collateral Manager), which may be declared due and payable by the Collateral Manager on any Payment Date (with written notice to the Trustee and the Collateral Administrator).

Cumulative Deferred Management Fee. All or a portion of the previously deferred Collateral Management Fees or Collateral Management Fee Shortfall Amounts (including accrued interest prior to the Payment Date on which the payment of such Collateral Management Fee Shortfall Amount was deferred by the Collateral Manager), which may be declared due and payable by the Collateral Manager on any Payment Date. “Current Deferred Management Fee”: With respect to a Payment Date, all or a portion of the Collateral Management Fees or Collateral Management Fee Shortfall Amounts (including accrued interest), due and owing to the Collateral Manager the payment of which is voluntarily deferred (for payment on a subsequent Payment Date), without interest, by the Collateral Manager. “Current Pay Obligation”: Any Collateral Obligation (other than a DIP Collateral Obligation) that would otherwise be treated as a Defaulted Obligation but as to which no payments are due and payable that are unpaid and with respect to which the Collateral Manager has certified to the Trustee in writing that it believes, in its reasonable business judgment, that (a) the Obligor of such Collateral Obligation is current on all interest payments, principal payments and other amounts due and payable thereunder and will continue to make scheduled payments of interest thereon and will pay the principal thereof and all other amounts due and payable thereunder by maturity or as otherwise contractually due, (b) if the Obligor is subject to a bankruptcy proceeding, it has been the subject of an order of a bankruptcy court that permits it to make the scheduled payments on such Collateral Obligation and all interest payments, principal payments and other amounts due and payable thereunder have been paid in Cash when due, (c) the Collateral Obligation has a Market Value of at least 80% of its par value and (d) if the Debt is then rated by S&P, (A) has an S&P Rating of at least “CCC+” and a Market Value of at least 80% of its par

Examples of Cumulative Deferred Management Fee in a sentence

• Compensation of the Collateral Manager As compensation for its services under the Collateral Management Agreement, the Collateral Manager will be entitled to receive the Collateral Management Fee, which will consist of the Senior Collateral Management Fee, the Subordinated Collateral Management Fee, the Incentive Management Fee and, without duplication, the Cumulative Deferred Management Fee.

• The examination will begin exactly at 8:30 AM and last approximately two and one half hours.3. No food or drinks are allowed in the examination room.4. Absolutely NO electronic device is allowed in the examination room.

• After such Payment Date, the Current Deferred Management Fee will be added to the cumulative amount of the Subordinated Collateral Management Fee which the Collateral Manager has elected to defer on prior Payment Dates and which has not been repaid (the "Cumulative Deferred Management Fee").

More Definitions of Cumulative Deferred Management Fee

Cumulative Deferred Management Fee. All or a portion of the previously deferred Collateral Management Fees or Collateral Management Fee Shortfall Amounts (including accrued interest thereon).