Eligible Portfolio Asset means (1) each Initial Portfolio Asset and (2) a Loan Asset (other than the Initial Portfolio Assets) that, at the time of Transfer to the Borrower, unless otherwise approved by the Initial Lender:
Eligible Portfolio Asset means, each Eligible Loan Asset and each Eligible Equity Investment.
Eligible Portfolio Asset. Each Portfolio Asset (A) for which the Administrative Agent and the Document Custodian have received (or, in accordance with clause (b) of the definition of “Required Portfolio Asset Documents”, the Document Custodian will receive) the related Required Portfolio Asset Documents; and (B) that satisfies each of the following eligibility requirements (unless the Administrative Agent in its sole discretion agrees to waive any such eligibility requirement with respect to such Portfolio Asset), in each case, as of any date of determination, including, but not limited to, the trade date for the relevant purchase or acquisition thereof (such trade date, the “Portfolio Asset Trade Date”):
Examples of Eligible Portfolio Asset in a sentence
For the avoidance of doubt, any inaccurate representation that a Portfolio Asset is an Eligible Portfolio Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding do not exceed the Maximum Availability assuming such Portfolio Asset was not included as an Eligible Portfolio Asset in the calculation of the Borrowing Base.
The Portfolio Asset Servicer shall also deliver to the Administrative Agent any notice or other correspondence that it receives hereunder or with respect to any Eligible Portfolio Asset, in each case, to the extent it deems such material, promptly upon receipt thereof.
If and to the extent such non-compliance has not been cured within such time period, such Portfolio Asset shall cease to be an Eligible Portfolio Asset until such non-compliance is cured.
Appear To Have Control of NewIn Abeyance Account John ston's Troop Rule.
The Borrower Parties will promptly notify Administrative Agent in writing (but in no event later than five (5) Business Days) after a Responsible Officer of such Borrower Party becoming aware of any Exclusion Event or any event that results in a Portfolio Asset failing to remain an Eligible Portfolio Asset.
More Definitions of Eligible Portfolio Asset
Eligible Portfolio Asset means (i) each of the Initial Portfolio Assets, (ii) each other General Partner Investment owned by a Loan Party which complies with the Investment Guidelines (as determined at the time such Eligible Portfolio Asset is included in the Borrowing Base) including, any assets received as Distributions In Kind, (iii) each other Portfolio Asset that constitutes a Loan Asset that is approved by the Servicer, and in each case, that is not subject to any security interest, Lien or other encumbrance other than those granted to Administrative Agent herein (subject to Permitted Liens), subject to removal from the Borrowing Base and a corresponding reduction to the LTV, at the election of the Servicer if there has been (a) a Material Investment Event, (b) a Material Modification, (c) Underlying Obligor Default, (d) proceedings pending or, to any Loan Party’s knowledge, threatened (i) with respect to a Bankruptcy Event with respect to any applicable Obligor or (ii) wherein any applicable Obligor, any other party or any governmental entity has alleged that such Portfolio Asset or its related Underlying Agreement or any of its Required Portfolio Documents is illegal or unenforceable has occurred and is continuing and (e) in connection with a Sale under Section 2.11; provided, that any Eligible Portfolio Asset so removed from the Borrowing Base shall cease to be an Eligible Portfolio Asset; provided, further, that with respect to each Initial Portfolio Asset described in Schedule VII, each such Initial Portfolio Asset shall be deemed not to be an Eligible Portfolio Asset, and shall not be included in the Borrowing Base or the calculation of the LTV until the Post Closing Condition with respect to such Initial Portfolio Asset is satisfied, as determined by the Administrative Agent, acting at the direction of the Majority Lenders. “Eligible Receivable” means an amount which is due and owing with respect to an Eligible Portfolio Asset which is not more than 60 days past due and for which the applicable Loan Party reasonably believe such amount will be paid prior to the end of such 60 day period. “Employee Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of ERISA which is or was subject to ERISA (other than a Pension Plan or Multiemployer Plan) and maintained by, contributed to, or required to be maintained or contributed to by a Co‐Borrower, Holdings or any ERISA Affiliate. “Environmental Laws” means any and all foreign, federal, State and local laws...
Eligible Portfolio Asset means a Lease Asset or Tangible Investment Sukuk:
Eligible Portfolio Asset. Each Portfolio Asset (A) for which the Administrative Agent and the Document Custodian have received (or, in accordance with clause (b) of the definition of “Required Portfolio Asset Documents”, the Document Custodian will receive) the related Required Portfolio Asset Documents; and (B) that satisfies each of the following eligibility requirements (unless the Administrative Agent in its sole discretion agrees to waive any such eligibility requirement with respect to such Portfolio Asset), in each case, as of any date of BUSINESS.32224493.
Eligible Portfolio Asset. Unless the context otherwise requires, all references to a “Portfolio Asset” will refer to a Loan (or Eligible Participation Interest therein) or portion thereof held by the Borrower. “Portfolio Asset Checklist”: An electronic or hard copy, as applicable, of a checklist delivered by or on behalf of the Borrower to the Document Custodian, for each Portfolio Asset, of all Required Portfolio Asset Documents to be included within the respective Portfolio Asset File, which shall specify whether such document is an original or a copy. “Portfolio Asset File”: For each Portfolio Asset, the following documents or instruments, as set forth on the related Portfolio Asset Checklist: (a) copies of each of the Required Portfolio Asset Documents; (b) to the extent applicable to such Portfolio Asset, the final copies for any related subordination agreement, intercreditor agreement, or similar instruments, assumption or substitution agreement or similar material operative document, in each case together with any amendment or modification thereto; and (c) either (i) copies of any financing statements under the UCC, if any, and any related continuation statements, each showing the Obligor as debtor and each with evidence of filing thereon, or (ii) copies of any such financing statements certified by the Collateral Manager to be true and complete copies thereof in instances where the original financing statements have been sent to the appropriate public filing office for filing.
Eligible Portfolio Asset or the limitations set out in the definition of “Concentration Limitations”, as applicable; and (i) any interest on a Loan is deferred and is added to the principal amount of such Loan, provided that, notwithstanding any clauses in the foregoing definition of “Value Adjustment Event”, if separately agreed to by the Collateral Manager and the Administrative Agent, the Administrative Agent may, in its sole discretion, waive any Value Adjustment Event. “Xxxxxxx Rule”: Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder. “Weighted Average Advance Rate”: As of any date of determination with respect to all Eligible Portfolio Assets on such date, (a) the sum of the products for each Eligible Portfolio Asset of (i) such Eligible Portfolio Asset’s Advance Rate and (ii) such Eligible Portfolio Asset’s OLB minus the portion, if any, of such Eligible Portfolio Asset’s OLB included in the Excess Concentration Amount divided by (b) the Aggregate OLB on such date minus the Excess Concentration Amount, provided that the Weighted Average Advance Rate for the Portfolio shall not, at any time, exceed the Maximum Advance Rate. “Withholding Agent”: The Borrower, the Collateral Agent and the Administrative Agent. “Zero Coupon Obligation”: A debt obligation that does not bear interest for all or part of the period that it is outstanding or that provides for periodic payments in cash less frequently than quarterly or that pays interest only at its stated maturity.
Eligible Portfolio Asset. (f); (g); (i); (j); (l); (m); (n); (o); (r); (t); (x); (z); (ff); or (gg), then Borrower shall (1) have executed an assignment and acceptance or such other similar documentation substantially in the form required under the Underlying Instrument, have delivered such documentation to the applicable agent and/or the applicable obligor with respect to such Portfolio Asset for its consent in accordance with the provisions of the Underlying Instrument with respect thereto, and (2) use commercially reasonable efforts to effect the settlement of such assignment and acceptable as soon as possible, and by no later than 30 calendar days after such Portfolio Asset fails to satisfy any of the foregoing clauses in the definition of “Eligible Portfolio Asset”.
Eligible Portfolio Asset means any Portfolio Asset that has been approved in writing by the Initial Lender in its sole discretion.