Delayed Drawdown Obligation definition
Delayed Drawdown Obligation means a Collateral Debt Obligation that (a) requires the Issuer to make one or more future advances to the Obligor under the Underlying Instruments relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid; but any such Collateral Debt Obligation will be a Delayed Drawdown Obligation only until all commitments to make advances to the Obligor expire or are terminated or reduced to zero.
Delayed Drawdown Obligation means a Collateral Debt Obligation that is a loan (including, without limitation, revolving loans, funded and unfunded portions of revolving credit lines and letter of credit facilities, unfunded commitments under specific facilities and other similar loans and investments) that pursuant to the terms of its Underlying Instruments may require one or more future advances to be made to the borrower by the Issuer which may or may not permit the re-borrowing of any amount previously repaid, provided that any such Collateral Debt Obligation will be a Delayed Drawdown Obligation only until all commitments to make advances to the Obligor expire or are terminated or reduced to zero.
Delayed Drawdown Obligation means a Collateral Debt Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Instruments relating thereto,
Examples of Delayed Drawdown Obligation in a sentence
Amounts on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Delayed Drawdown Obligation or Revolving Obligation.
Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Collateral Manager to the Lead Lender, and the Lead Lender shall instruct the Document Custodian to fund such draw request in accordance with the Underlying Instrument pertaining to such Delayed Drawdown Obligation or Revolving Obligation.
Upon the acquisition of any Delayed Drawdown Obligation or Revolving Obligation Funds, funds in an amount equal to the Exposure Amount of such obligation shall be deposited into the Unfunded Exposure Account.
Except with respect to the funding commitment assumed by the Buyer with respect to any Delayed Drawdown Obligation or Revolving Obligation, no obligation or liability to any Obligor under any of the Loans is intended to be assumed by the Buyer, the Lead Lender or any of the other the Secured Parties under or as a result of this Agreement and the transactions contemplated hereby.
More Definitions of Delayed Drawdown Obligation
Delayed Drawdown Obligation means a Collateral Debt Obligation which pursuant to its Underlying Instruments: (a) requires the Issuer to make one or more future advances relating thereto which are drawable only in the currency in which such Collateral Debt Obligation is denominated; (b) specifies a maximum amount that can be borrowed by one or more fixed borrowing dates; and (c) does not permit the re-Borrowing of any amount previously repaid; but provided that any such Collateral Debt Obligation will cease to be a Delayed Drawdown Obligation when all commitments to make advances expire or are terminated or reduced to zero;
Delayed Drawdown Obligation means an investment that pursuant to its terms requires the Issuer to make one or more future advances to the obligor thereunder, but any such investment will be a Delayed Drawdown Obligation only until all commitments to make advances to the obligor expire or are terminated or reduced to zero; and
Delayed Drawdown Obligation means an obligation that: (a) requires the holder thereof to make one or more future advances to the borrower under the Underlying Instruments relating thereto; (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates; and (c) does not permit the re- borrowing of any amount previously repaid; but any such obligation will be a Delayed Drawdown Obligation only until all commitments to make advances to the borrower expire or are terminated or reduced to zero.
Delayed Drawdown Obligation means any security that requires the purchaser thereof to make one or more future advances to the borrower under the instrument or agreement pursuant to which such security was issued or created which does not permit, during any period on or after the date on which the Issuer acquires such Assigned Interest, the re-borrowing of any amount previously repaid.
Delayed Drawdown Obligation means a Collateral Debt Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Instruments relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid; but any such Collateral Debt Obligation will be a Delayed Drawdown Obligation only until all commitments to make advances to the borrower expire or are terminated or reduced to zero; provided that no non-Euro Delayed Drawdown Obligation may be acquired by the Investment Manager without Rating Agency Confirmation.
Delayed Drawdown Obligation means a loan that:
Delayed Drawdown Obligation means a Collateral Debt Obligation that: (a) requires the Issuer to make one or more future advances relating thereto which are drawable only in the currency in which such Collateral Debt Obligation is denominated; (b) the Underlying Instruments of which contain an agreement by the obligor to not offset its obligation to make payments against a failure to make a future advance; (c) specifies a maximum amount that can be borrowed; and (d) does not permit the re-borrowing of any amount previously repaid; but provided that any such Collateral Debt Obligation will cease to be a Delayed Drawdown Obligation when all commitments to make further advances expire or are terminated or reduced to zero.