Distressed Debt Fund definition

Distressed Debt Fund means any trust, fund or other entity which is or would reasonably be recognised or characterised as a "distressed debt fund" by reputable institutions which are prominent participants in the financial markets including any person or entity (or any of its Related Funds) whose principal business or material activity is the purchase of loans or other debt securities with the intention of owning the equity or gaining control of a business (directly or indirectly). A Distressed Debt Fund shall be construed so as to include the debt trading desk (or equivalent) operated by a bank or financial institution, where that trading desk would be engaging in trading for or on behalf of an entity which itself constitutes a Distressed Debt Fund.

Distressed Debt Fund means a fund with a principal strategy of investing in distressed debt.

Distressed Debt Fund means any trust, fund or other Person that (a) is primarily engaged in the business of making, purchasing or investing in loans or debt securities where 50% or more of its assets are invested in loans and/or debt securities which have been purchased at a discount of 20% or more below par value; (b) is primarily engaged in the business of making investments in more than one sector and/or market provided that at least one investment sector or business is primarily involved in the making of, purchasing or investing in loans or debt securities where 50% or more of the assets of such sector are invested in loans and/or debt securities which have been purchased at a discount of 20% or more below par value; (c) is primarily engaged in the business of making, purchasing or investing in loans or debt securities of issuers that are experiencing financial or operational distress, default, are under bankruptcy or are under distress and it is reasonably expected that will enter into any of the aforementioned situations in the short term; and (d) constitutes the debt trading desk (or equivalent) operated by a department of a bank or financial institution where that trading desk is or would be trading the participation on behalf of an entity falling under clauses (a) through (c) above.

Examples of Distressed Debt Fund in a sentence

• GoldenTree Distressed Fund 2014 LP GoldenTree E Distressed Debt Master Fund II LP Golden Tree E Distressed Debt Fund II LP Golden Tree Entrust Master Fund SPC on behalf of and for the account of Segregated Portfolio I GoldenTree Master Fund, Ltd.

• Viking Long/Short Fund, Aetos Multi-Strategy, Aetos Distressed Debt Fund and Graham Hedged Equity Fund of funds.

• Mr. Knight moved to recommend to the Board approval to Commit up to $25 Million Dollars in American Industrial Partners Capital Fund VI, L.P., a Private Equity Buyout, Turnaround and Distressed Debt Fund that will Target Middle Market Underperforming Companies in the Industrial Sector.

• The Concordia Distressed Debt Fund was launched in June 2002 and currently manages in excess of $300 million.

• See also General Legal Advice Memorandum 2009-010, supra, note 37.when it is time to sell.61 It is possible to interpret “trading” so as to exclude the activities of the Distressed Debt Fund on this basis.62Example (2): Distressed Debt Fund (Collections): Distressed Debt Collection Fund, an offshore corporation managed by a U.S.-based investment manager, purchases non- performing debt of individuals and businesses at deep discounts from face value.

• The Company has the following commitments as at 31 March 2013: CurrencyTotal CommitmentDrawn CommitmentUndrawn CommitmentNeuberger Berman Distressed Debt Fund Metric Capital Partners Private CapitalUSD60,000,000(36,000,000)24,000,000Fund 1EUR50,000,000(17,570,168)32,429,832Victory Park CapitalUSD60,000,000(45,798,157)14,201,843RS InvestmentsUSD30,000,000-30,000,000TWGGP-RISFUSD16,000,000-16,000,000 The undrawn commitment as at 31 March 2013 in Pounds Sterling is £82,879,127.

• MAK Capital Distressed Debt Fund I, LP (“MAK CDD Fund”) holds 297,507 Shares, representing 1.2% of the outstanding shares.

• Accordingly, Lend Lease indicated its intention to exit, over time, the North American real estate investments markets (both equity and debt) and real estate debt services, Asian debt markets including management of the International Distressed Debt Fund (IDDF) and other non performing loan servicing activities, certain components of the European real estate investments business and the Global Fund management advisory business.

• The names of the persons filing this statement on Schedule 13D are: MAK Capital One L.L.C., a Delaware limited liability company (“MAK Capital”), MAK GP, LLC, a Delaware limited liability company (“MAK GP”), MAK Capital Fund LP, a Bermuda Islands limited partnership (“MAK Fund”), MAK Capital Distressed Debt Fund I, LP, a Delaware limited partnership (“MAK CDD Fund”) and Michael A.

• The fact that an agent of the Distressed Debt Fund (i.e., the manager) will actually do things on its behalf does not appear to change this analysis.

More Definitions of Distressed Debt Fund

Distressed Debt Fund any hedge fund or private equity fund that principally invests in distressed debt (other than any Affiliate of any such fund that does not principally invest in distressed debt).

Distressed Debt Fund or similar entity (in each case, as reasonably determined by Agent in good faith), it being acknowledged that in all cases, any transfer to an Affiliate of any Lender or Agent shall be allowed. Notwithstanding the foregoing, (x) in connection with any assignment by a Lender as a result of a forced divestiture at the request of any regulatory agency, the restrictions set forth herein shall not apply and Agent and the Lenders may assign, transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party (provided that any assignment, transfer or endorsement of the Warrant shall be subject to the terms thereof) and (y) in connection with a Lender’s own financing or securitization transactions, the restrictions set forth herein shall not apply and Agent and the Lenders may assign, transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party providing such financing or formed to undertake such securitization transaction and any transferee of such Person or party upon the occurrence of a default, event of default or similar occurrence with respect to such financing or securitization transaction (provided that any assignment, transfer or endorsement of the Warrant shall be subject to the terms thereof); provided that no such sale, transfer, pledge or assignment under this clause (y) shall release such Lender from any of its obligations hereunder or substitute any such Person or party for such Lender as a party hereto until Agent shall have received and accepted an effective assignment agreement from such Person or party in form satisfactory to Agent executed, delivered and fully completed by the applicable parties thereto, and shall have received such other information regarding such assignee as Agent reasonably shall require. The Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the United States a register for the recordation of the names and addresses of the Lender(s), and the Term Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agent and the US-DOCS\126945775.5 Lender(s) shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register sh...

Distressed Debt Fund means any trust, fund or other entity which is or would reasonably be recognised or categorised as a “distressed debt fund” by reputable institutions which are prominent participants in the financial markets. Distressed Debt Funds will be construed so as to include the debt trading desk (or equivalent) operated by a department of a bank or financial institution where that trading desk would be engaging in trading any Facility for or on behalf of an entity which itself constitutes a Distressed Debt Fund.

Distressed Debt Fund means any trust, fund or other entity or division which is or would reasonably be recognised or categorised as a “distressed debt fund” or analogous term by reputable institutions which are participants in the financial markets. Distressed Debt Fund will be construed so as to include the debt trading desk (or equivalent) operated by a bank or financial institution (but only that debt trading desk (or equivalent)), where that trading desk would be engaging in trading for or on behalf of an entity which itself constitutes a Distressed Debt Fund and shall include any pass-through or structured finance vehicles in whatever legal form which are used by a Distressed Debt Fund in any way to derive economic benefit of any kind.

Distressed Debt Fund any hedge fund or private equity fund that principally invests in distressed debt (other than any Affiliate of any such fund that does not principally invest in distressed debt). “Dollars” and “$”: dollars in lawful currency of the United States. “Domestic Subsidiary”: any Subsidiary of the Borrower organized under the laws of the United States, any state thereof or the District of Columbia. “EBITDA Testing Period”: the period prior to the consummation of a Qualified IPO (a) commencing on the last day of the applicable fiscal quarter of the Borrower most recently ended at the time EBITDA Trigger Event occurs for which the Borrower was required to deliver to the Administrative Agent financial statements pursuant to Section 6.1(b) or (c), and (b) continuing until the consummation of a Qualified IPO. “EBITDA Trigger Event”: the Total Revolving Extensions of Credit exceed $10,000,000. “EEA Member Country”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway. “Eligible Assignee”: any Person that meets the requirements to be an assignee under Section 10.6(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 10.6(b)(iii)); provided that none of Borrower, any Affiliate of Borrower or, unless an Event of Default under Section 8.1(a), Section 8.1(c) (as a result of any failure to comply with Section 7.1(a)) or Section 8.1(f) shall have occurred and be continuing, any Listed Competitor or any Distressed Debt Fund, shall be an Eligible Assignee. “Environmental Laws”: any and all foreign, federal, state, local or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of

Distressed Debt Fund means any person whose primary business is buying distressed debt and/or non-performing loans and pursuing active enforcement policies in respect of such distressed debt and/or non-performing loans.