Delayed Funding Term Loan definition

Delayed Funding Term Loan means any Loan that (a) requires the holder thereof 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 or prior to one or more fixed dates, and (c) does not permit the re-borrowing of any amount previously repaid by the obligor thereunder; but, for the avoidance of doubt, any such Loan will be a Delayed Funding Term Loan only until all commitments by the holders thereof to make such future advances to the obligor thereon expire or are terminated or reduced to zero.

Delayed Funding Term Loan means any Portfolio Investment that (a) requires the holder thereof 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 by the obligor thereunder; but any such loan will be a Delayed Funding Term Loan only to the extent of undrawn commitments and only until all commitments by the holders thereof to make advances to the obligor thereon expire or are terminated or reduced to zero. “Deliver” (and its correlative forms) means the taking of the following steps:

Delayed Funding Term Loan means any Loan that (a) requires the holder thereof 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 by the obligor thereunder; but any such loan will be a Delayed Funding Term Loan only to the extent of undrawn commitments except as expressly set forth herein and only until all commitments by the holders thereof to make advances to the obligor thereon expire or are terminated or reduced to zero.

Examples of Delayed Funding Term Loan in a sentence

• The portion of any loan which requires one or more future advances to be made to the borrower but which, once advanced, has the characteristics of a term loan; provided, that such portion of such loan shall only be considered a Delayed Funding Term Loan for so long as and only to the extent that any future funding obligations remain in effect.

• With respect to the Issuer or any Issuer Subsidiary, an amount (not less than zero) equal to the sum of the aggregate undrawn and outstanding commitment amounts under each Revolving Credit Facility and Delayed Funding Term Loan held by the Issuer or such Issuer Subsidiary.

• In addition, within two (2) Business Days of any Delayed Funding Term Loan with an unfunded commitment becoming an Ineligible Investment, the Company, subject to clauses (x) and (y) in the immediately preceding sentence, shall sell such Delayed Funding Term Loan and shall pay any amount required to be paid to the transferee as consideration in connection with such sale.

• With respect to any Portfolio Investment that is a Delayed Funding Term Loan or a Revolving Loan, the Company shall deposit cash into the Unfunded Exposure Account or the Permitted Non-USD Currency Accounts as Unfunded Exposure Allocated Amounts, as applicable, in an aggregate amount at least equal to the Unfunded Exposure Amount of such Portfolio Investment, to be held as cash collateral.

• For the avoidance of doubt, the Balance of Eligible Investments or Cash on deposit in the Revolving Credit Facility Reserve Accounts shall not be included in determining the Aggregate Principal Amount to the extent such amount is included in such determination in connection with the calculation of the Principal Balance of the related Revolving Credit Facility or Delayed Funding Term Loan.

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• Unfunded commitments under any Delayed Funding Term Loan or Revolving Loan shall not otherwise be considered funded for such purposes.

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• The Purchase Price for any Portfolio Investment that consists of a Delayed Funding Term Loan shall take into account any unfunded commitments assumed by the Purchaser in connection with the acquisition thereof.

More Definitions of Delayed Funding Term Loan

Delayed Funding Term Loan shall exclude all Collateralized Delayed Funding Commitments with respect thereto.

Delayed Funding Term Loan means any Loan that (a) requires the holder thereof 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 by the obligor thereunder; but any such loan will be a Delayed Funding Term Loan only to the extent of undrawn commitments and only until all commitments by the holders thereof to make advances to the obligor thereon expire or are terminated or reduced to zero.

Delayed Funding Term Loan means any Loan that (a) requires the holder thereof to make one or more future advances to the Portfolio Investment Obligor under the underlying instruments relating thereto, (b) specifies a maximum amount that can be borrowed on or prior to one or more fixed dates and (c) does not permit the re-borrowing of any amount previously repaid by the Portfolio Investment Obligor thereunder; but, for the avoidance of doubt, any such Loan will be a Delayed Funding Term Loan only until all commitments by the holders thereof to make such future advances to the Portfolio Investment Obligor thereon expire or are terminated or reduced to zero. “Deliver” (and its correlative forms) means the taking of the following steps by the Company or the Portfolio Manager:

Delayed Funding Term Loan means loans which require one or more future advances to be made to the borrower but which, once all such advances have been made, have the characteristics of a term loan; provided that such loans shall only be considered Delayed Funding Term Loans for so long as any future funding obligations remain in effect. The maximum funding amount of a Delayed Funding Term Loan shall be specified at the time of its acquisition and reborrowing shall not be permitted. For a Non-Euro denominated Delayed Funding Term Loan, a Rating Agency confirmation from Moody’s is required before such asset can be characterised as a Collateral Debt Obligation.

Delayed Funding Term Loan means any Portfolio Investment that (a) requires the holder thereof to make one or more future advances to the obligor under the underlying