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 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 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.
Examples of Delayed Drawdown Obligation in a sentence
The Delayed Drawdown Reserve Account shall comprise sub-accounts denominated in the Base Currency of any Delayed Drawdown Obligation acquired by the Issuer from time to time and amounts shall be paid into and out of each such sub-account according to the currency in which such amounts are denominated.
The Issuer shall, upon the acquisition of a Collateral Debt Obligation which is a Revolving Obligation or Delayed Drawdown Obligation and which is denominated in a currency for which there then exists no Revolving Reserve Account, establish with the Account Bank a Revolving Reserve Account for the currency of such Revolving Obligation or Delayed Drawdown Obligation, such Revolving Reserve Account to be opened within five Business Days of notification thereof being received by the Account Bank.
Each Reference Obligation relating to that Reference Credit Agreement is a Loan (including, without limitation a Loan that is a DIP Collateral Obligation or a Delayed Drawdown Obligation).
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 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 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 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 borrowing dates which are specified or are subject to the satisfaction of certain conditions and (c) subject as provided below, does not permit the re-borrowing of any amount previously repaid, provided, always, that any such Collateral Debt Obligation will only constitute a Delayed Drawdown Obligation until the point that all such commitments to make advances to the borrower under the Underlying Instruments expire, are terminated or are reduced to zero. For the avoidance of doubt, for the purposes of the Coverage Tests, the Collateral Quality Tests and the Percentage Limitations (with the exception of the Minimum Spread Test), all Delayed Drawdown Obligations shall be considered to be fully drawn save for any Delayed Drawdown Obligation which provides that any drawing thereunder be applied in repayment of an outstanding Collateral Debt Obligation. For the avoidance of doubt, each Delayed Drawdown Obligation shall be considered as a Secured Senior Loan, a Senior Unsecured Loan, a Mezzanine Obligation or High Yield Bond, as applicable.
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 obli- gor expire or are terminated or reduced to zero; and
Delayed Drawdown Obligation means a loan that: