Eligible Pledged Assets definition

Eligible Pledged Assets in respect of each Secured Debt Obligation, shall mean, as of any date of determination, an amount equal to the difference between (a) the value of all Pledged Investments in respect of such Secured Debt Obligation and (b) the principal amount of such Secured Debt Obligation. For purposes of determining “Eligible Pledged Assets,” Pledged Investments shall be valued at their Fair Market Value as of any date of determination.
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Eligible Pledged Assets shall be defined to include the mortgage loan investments owned by the Company from time to time but shall exclude a mortgage loan of the Fund that is (i) subject to any default, dispute, foreclosure claim, litigation or counterclaim or is the subject of any rescission claim at the time of pledge in favor of the Collateral Agent; (ii) classified at the time of pledge in favor of the Collateral Agent as a delinquent receivable as to which a scheduled interest or principal payment remains unpaid for sixty (60) or more days past the required due date; (iii) deemed uncollectable, doubtful or has been charged off in accordance with the Company’s collection policies; or (iv) any mortgage loan investment that fails to meet the qualification requirements set forth in Exhibit D hereto. Eligible Pledged Assets shall otherwise include all cash, liquid securities and mortgage loan investments held by the Collateral Agent.
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Eligible Pledged Assets means Eligible Pledged Advances and Eligible Pledged Securities.
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Examples of Eligible Pledged Assets in a sentence

  • The Company agrees to furnish the Collateral Agent with a monthly Valuation of Eligible Pledged Assets report in the form of Exhibit C hereto, delivered on or before the fifteenth day after the end of the month which will certify the net balance of the Collateral held by the Collateral Agent, the Mortgage Pool Collateralization Ratio and the amount, if any, by which the Mortgage Pool Collateralization Ratio is less than the minimum Mortgage Pool Collateralization Ratio of 105%.

  • The Bank shall respond to such request not later than the close of business on the second Business Day following the date of receipt by it of such request, and (subject to the following sentence) it shall be in the Bank's sole discretion whether to accept such additional Assets as "Eligible Pledged Assets".

  • In no event shall any addition to or substitution of Eligible Pledged Assets pursuant to this Section 2.10 be permitted on a date when the Outstanding Amount on such date exceeds the Borrowing Base in effect on such date unless the Company shall pledge additional Assets as Eligible Pledged Assets in accordance with this Section 2.10 with a Fair Market Value such that, after giving effect to such pledge, the Outstanding Amount on such date shall not exceed the Borrowing Base then in effect.

  • The Company may from time to time after the Closing Date by one Business Day prior notice to the Bank, in connection with a Credit Extension hereunder or otherwise, request that it be permitted to pledge additional Assets under the Security Agreement (whether in addition to or in substitution for existing Pledged Assets) and thereby constitute such additional Assets "Eligible Pledged Assets" hereunder.


More Definitions of Eligible Pledged Assets

Eligible Pledged Assets in respect of each Senior Debt Obligation, shall mean, as of any date of determination, an amount equal to the difference between (a) the value of all Pledged Investments in respect of such Senior Debt Obligation and (b) the principal amount of such Senior Debt Obligation. For purposes of determining “Eligible Pledged Assets,” Pledged Investments shall be valued at their Fair Market Value as of any date of determination.
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Related to Eligible Pledged Assets

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledged Asset Loan Any Mortgage Loan supported by Pledged Assets or such other collateral, other than the related Mortgaged Property, set forth in the Series Supplement.

  • Pledged Equity Interest means an Equity Interest that is included in the Collateral at such time.

  • Pledged Equity Interests means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests, Pledged Trust Interests and Pledged Alternative Equity Interests.

  • Pledged Amount With respect to any Pledged Asset Loan, the amount of money remitted to Combined Collateral LLC, at the direction of or for the benefit of the related Mortgagor.

  • Pledged Items means, as of any date, any and all securities and instruments delivered by the Pledgor to be held by the Collateral Agent under this Collateral Agreement as Collateral, whether Eligible Collateral or Ineligible Collateral.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Additional Pledged Collateral means all shares of, limited and/or general partnership interests in, and limited liability company interests in, and all securities convertible into, and warrants, options and other rights to purchase or otherwise acquire, stock of, either (i) any Person that, after the date of this Agreement, as a result of any occurrence, becomes a direct Subsidiary of any Grantor or (ii) any issuer of Pledged Stock, any Partnership or any LLC that are acquired by any Grantor after the date hereof; all certificates or other instruments representing any of the foregoing; all Security Entitlements of any Grantor in respect of any of the foregoing; all additional indebtedness from time to time owed to any Grantor by any obligor on the Pledged Notes and the instruments evidencing such indebtedness; and all interest, cash, instruments and other property or Proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing, provided, that, in no event shall Additional Collateral include any Excluded Equity. Additional Pledged Collateral may be General Intangibles or Investment Property.

  • Pledged Stock has the meaning assigned to such term in Section 3.01.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Pledged Accounts means all of each Grantor’s right, title and interest in all of its Deposit Accounts, Commodity Accounts and Securities Accounts (in all cases, including, without limitation, all Controlled Accounts and Foreign Currency Control Accounts).

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • Pledged LLC Interests means all right, title and interest of any Grantor as a member of any LLC and all right, title and interest of any Grantor in, to and under any LLC Agreement to which it is a party.

  • Permitted Equity Interests means common stock of the Borrower that after its issuance is not subject to any agreement between the holder of such common stock and the Borrower where the Borrower is required to purchase, redeem, retire, acquire, cancel or terminate any such common stock.

  • Excluded Equity Interests means, collectively: (i) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by Requirements of Law; (ii) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) require the consent, approval or waiver of any Governmental Authority or other third party and such consent, approval or waiver has not been obtained by Borrower following Borrower’s commercially reasonable efforts to obtain the same; (iii) any Equity Interests in any Subsidiary that is a non-Wholly-Owned Subsidiary that the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by, or would give any third party (other than Borrower or an Affiliate of Borrower) the right to terminate its obligations under, the Operating Documents or the joint venture agreement or shareholder agreement with respect to, or any other contract with such third party relating to such non-Wholly-Owned Subsidiary, including any contract evidencing Indebtedness of such non-Wholly-Owned Subsidiary (other than customary non-assignment provisions which are ineffective under Article 9 of the Code or other Requirements of Law), but only, in each case, to the extent, and for so long as such Operating Document, joint venture agreement, shareholder agreement or other contract is in effect; (iv) any Equity Interests in any other Subsidiary with respect to which, Borrower and the Collateral Agent reasonably determine by mutual agreement that the cost (including Tax costs) of granting the Collateral Agent, for the benefit of Lenders and the other Secured Parties, a security interest in and Lien upon, and pledging to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, such Equity Interests, to secure the Obligations (and any guaranty thereof) are excessive, relative to the value to be afforded to the Secured Parties thereby.

  • Pledged Indebtedness means the Indebtedness evidenced by promissory notes and instruments listed on Part B of Schedule I hereto;

  • Financed Equipment is all present and future Eligible Equipment in which Borrower has any interest, the purchase of which is financed by an Equipment Advance.

  • Permitted Receivables Related Assets means any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing.

  • Pledged Funds means all of the Series Pledged Funds.

  • Pledged when used in conjunction with any type of asset, means at any time an asset of such type that is included (or that creates rights that are included) in the Collateral at such time. For example, “Pledged Equity Interest” means an Equity Interest that is included in the Collateral at such time.

  • Permitted Security Interests means (i) any Security Interest for taxes, assessments or governmental charges or levies which relate to obligations not yet due and delinquent, (ii) easements, servitudes, encroachments and other minor imperfections of title which do not, individually or in the aggregate, detract from the value of or impair the use or marketability of any real property, and (iii) undetermined or inchoate Security Interests arising or potentially arising under statutory provisions which have not at the relevant time been filed or registered in accordance with applicable laws or of which written notice has not been given in accordance with applicable laws;

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Pledged or Controlled Collateral has the meaning assigned to such term in Section 5.05(a).

  • Pledged Interests shall have the meaning ascribed to such term in Section 4(j).

  • Purchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property.

  • Negative Pledge means, with respect to a given asset, any provision of a document, instrument or agreement (other than any Loan Document) which prohibits or purports to prohibit the creation or assumption of any Lien on such asset as security for Indebtedness of the Person owning such asset or any other Person; provided, however, that an agreement that conditions a Person’s ability to encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to encumber its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, shall not constitute a Negative Pledge.