Deferring Security means a Collateral Obligation (other than a Defaulted Obligation) that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon for the shorter of two consecutive accrual periods or one year, which deferred capitalised interest has not, as of the date of determination, been paid in cash.
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Assets that have a Xxxxx’x Rating of at least “Baa3,” for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Assets that have a Xxxxx’x Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in cash; provided, however, that such Deferrable Security will cease to be a Deferring Security at such time as it (a) ceases to defer or capitalize the payment of interest, (b) pays in cash all accrued and unpaid interest accrued since the time of purchase and (c) commences payment of all current interest in cash.
Deferring Security means a PIK Security that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon: (i) with respect to CollateralObligations that have a Moody’s Rating of at least “Baa3”, for the shorter of two consecutive accrual periods or one year; and (ii) with respect to Collateral Obligations that have a Moody’s Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalised interest has not, as of the date of determination, been paid in cash.
Examples of Deferring Security in a sentence
A Collateral Obligation (other than a Defaulted Obligation or a Deferring Security) with an S&P Rating of “CCC+” or lower.
With respect to any Collateral Obligation that is a Defaulted Obligation or a Deferring Security, an amount equal to (a) the applicable Moody’s Recovery Rate multiplied by (b) the Principal Balance of such Collateral Obligation.
A Collateral Obligation (other than a Defaulted Obligation or a Deferring Security) with an S&P Rating of "CCC+" or lower.
On any date of determination, with respect to any Defaulted Obligation or Deferring Security, the lesser of (i) the Moody’s Recovery Amount of such Defaulted Obligation or Deferring Security as of such date and (ii) the Market Value of such Defaulted Obligation or Deferring Security as of such date.
A Collateral Obligation (other than a Defaulted Obligation or a Deferring Security) with a Moody's Rating of "Caa1" or lower.
More Definitions of Deferring Security
Deferring Security means a Collateral Obligation, which by its terms permits the deferral of payment of accrued and unpaid interest, that is deferring the payment of interest due thereon and has been so deferring for the shorter of (i) one payment period of such Collateral Obligation, and (ii) six months, in each case after such interest would otherwise have been payable; provided that, if at any time after such Collateral Obligation becomes a Deferring Security, if all amounts so deferred have been repaid, it shall no longer be a Deferring Security.
Deferring Security means a PIK Security that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon:
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Assets that have a Moody’s Rating of at least “Baa3,” for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Assets that have a Moody’s Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in cash; provided, however, that such Deferrable Security will cease to be a Deferring Security at such time as it (a) ceases to defer or capitalize the payment of interest, (b) pays in cash all accrued and unpaid interest accrued since the time of purchase and (c) commences payment of all current interest in cash.
Deferring Security. A Deferrable Security that (x) is deferring the payment of interest due thereon and (y) has been so deferring the payment of interest due thereon (i) with respect to Collateral Obligations that have a Xxxxx'x Rating of at least "Baa3", for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Collateral Obligations that have a Xxxxx'x Rating of "Ba1" or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in Cash.
Deferring Security means a Collateral Obligation, which by its terms permits the deferral of payment of accrued and unpaid interest, that is deferring the payment of interest due thereon and has been so deferring for (x) if such Collateral Obligation is rated "Ba1" or lower or not rated by Moody's, the shorter of (i) one payment period of such Collateral Obligation, and (ii) six months or (y) if such Collateral Obligation is rated "Baa3" or higher by Moody's, the shorter of (i) two payment periods of such Collateral Obligations and (y) one year, in each case after such interest would otherwise have been payable; provided that, if at any time after such Collateral Obligation becomes a Deferring Security, if all amounts so deferred have been repaid, it shall no longer be a Deferring Security.
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon for the shorter of (i) one payment period of such Deferrable Security, and (ii) six months, in each case after such interest would otherwise have been payable; provided, that if at any time after such Collateral Obligation becomes a Deferring Security, if all amounts so deferred have been repaid in cash, it shall no longer be a Deferring Security.
Deferring Security. A Deferrable Security that is not a Defaulted Loan and is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Collateral Loans that have a Xxxxx’x Rating of at least “Baa3”, for more than six consecutive months, and (ii) with respect to Collateral Loans that have a Xxxxx’x Rating of “Ba1” or below, for more than three consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in Cash.