Eligible Portfolio Assets definition

Eligible Portfolio Assets means Eligible Credit Assets, Eligible First Lien Credit Assets, Eligible Public Equities, Eligible Private Assets, Eligible Brand Assets and Eligible Consumer Receivables Assets.

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Eligible Portfolio Assets means those financial or other investments or instruments that the Issuer purchases, originates or otherwise owns from time to time (which will always constitute "assets" as defined under s.110 of the Irish Taxes Consolidation Act 1997 (as amended)).

Eligible Portfolio Assets means, collectively, at any time, each Portfolio Asset that:

Examples of Eligible Portfolio Assets in a sentence

• The Administrative Agent may rely, in determining which Portfolio Assets are Eligible Portfolio Assets on all statements and representations made by the Loan Parties in respect of such Portfolio Assets.

• The Borrower shall not use the proceeds of the Advances other than to (i) finance the Borrower’s origination and/or purchase of Eligible Portfolio Assets, (ii) pay fees and expenses (excluding interest payments due hereunder) due and payable hereunder and with respect to Eligible Portfolio Assets and (iii) to make Restricted Junior Payments permitted in accordance with Section 5.02(k).

• If any such alternative method for complying with the Collateral Requirements is not reasonably approved by the Lenders or is not accomplished by Borrower Parties, or if Borrower Parties elect to not comply with any specified Collateral Requirements, such Portfolio Assets will be disregarded in full for purposes of determining the Fair Market Value of the Eligible Portfolio Assets and the corresponding calculation of the Borrowing Base.

• The Borrower shall not use the proceeds of the Advances other than to (i) finance the Borrower's origination and/or purchase of Eligible Portfolio Assets, (ii) pay fees and expenses (excluding interest payments due hereunder) due and payable hereunder and with respect to Eligible Portfolio Assets and (iii) to make Restricted Junior Payments permitted in accordance with Section 5.02(k).

• The Eligible Portfolio Assets as of the Closing Date are set forth on Schedule I attached hereto and are owned by the Loan Parties.

• The Administrative Borrower will furnish to the Administrative Agent any redacted portfolio level data and reporting as may be reasonably requested by the Administrative Agent regarding the Eligible Portfolio Assets.

• The Eligible Portfolio Assets as of the Closing Date are set forth on Schedule I and are owned by the Loan Parties.

• The Administrative Agent individually, at the request of the Qualified Required Lenders, based upon a good faith belief that the valuations provided by the Valuation Agent are not representative of the Fair Market Value of any Eligible Portfolio Asset(s), shall have the right to request that such Eligible Portfolio Asset(s) be independently evaluated by an independent third-party pricing service or valuation firm as selected by the Qualified Required Lenders (the “Independent Valuation Provider”).

• The definition of Eligible Portfolio Assets shall not include First Lien, Last Out Loans for the purpose of calculating the applicable Sweep Percentage.

• The Co‐Borrowers shall not use the proceeds of any Advance other than (a) to re‐finance the Co‐Borrowers’ existing Indebtedness, (b) to finance (i) the origination and/or (ii) the acquisition of and investment by the Co‐Borrowers, directly or indirectly, in Eligible Portfolio Assets, (c) to pay transaction fees and expenses due and payable by the Co‐Borrowers under this Agreement and with respect to Eligible Portfolio Assets and (d) for general company purposes.

More Definitions of Eligible Portfolio Assets

Eligible Portfolio Assets means the Eligible Loan Assets and the Eligible REO Assets.

Eligible Portfolio Assets means a Portfolio Asset: (a) which ------------------------- constitutes an "account" or "general intangible", as such terms are defined in the UCC of all jurisdictions the laws of which are applicable for determining whether the interests created by the Program Documents are perfected, and the obligor in respect of which is organized in the United States but not a governmental entity (provided that a Portfolio Asset shall not be deemed to fail -------- to meet the foregoing obligor condition solely because a minor portion of the Shareholders of a Fund are not organized in or residents of the United States or are governmental entities); (b) which is denominated and payable in Dollars; (c) which constitutes a legal, valid and binding contractual obligation of the obligor thereof enforceable in accordance with its terms, which is fully vested, not executory and shall not be subject to a dispute, offset, counterclaim, defense or Adverse Claim whatsoever, except as enforceability may be limited by applicable bankruptcy laws and other similar laws effecting the rights and remedies of creditors generally and equitable principles whether considered in a proceeding in equity or law, and in the case of Portfolio Assets sold on a 5.5% commission structure basis, each of the conditions set forth in the Principal Shareholder Servicer's Agreement and Shareholder Services Agreement have been met in respect of the related Shares which are necessary so that the Principal Shareholder Servicer's entitlement to the Shareholder Servicing Fee in respect of the related Shares is deemed to be fully earned as of the issuance thereof and to render the applicable Fund's obligation to pay the Shareholder Servicing Fee in respect thereof absolute and unconditional and so that it shall not be subject to dispute, offset, counterclaim or any defense whatsoever (except in connection with a Complete Termination, as defined in the Principal Shareholder Servicer's Agreement); (d) which does not and the origination of which did not contravene any Applicable Law; (e) which, in respect of Asset Based Sales Charges, requires the payment thereof at the Maximum Sales Charge Allowable; (f) which, in respect of Contingent Deferred Sales Charges, requires the payment thereof at the rate set forth on Schedule IV to the Master Agreement; (g) which, in respect of Shareholder Servicing Fees, requires the payment thereof at the Maximum Service Fee Allowable; and (h) with respect to which the related Shar...

Eligible Portfolio Assets means a Portfolio Asset: (a) which constitutes an "account" or "general intangible," as such terms are defined in the UCC of all jurisdictions the laws of which are applicable for determining whether the interests created by the Program Documents are perfected, and the obligor in respect of which is an Eligible Fund or a shareholder of an Eligible Fund resident or organized in the United States but not a governmental entity (provided that a Portfolio Asset shall not be deemed to fail to meet the foregoing obligor condition solely because a minor portion of the Shareholders of a Fund are not organized in or residents of the United States or are governmental entities); (b) which is denominated and payable in Dollars; (c) which constitutes a legal, valid and binding contractual obligation of the obligor thereof enforceable in accordance with its terms (including the terms of the related Distributor's Contract permitting termination of the obligation in connection with a Complete Termination of the related Distribution Plan), which is fully vested, not executory and shall not be subject to a dispute, offset, counterclaim, defense or Adverse Claim whatsoever, except as enforceability may be limited by applicable bankruptcy laws and other similar laws affecting the rights and remedies of

Eligible Portfolio Assets has the meaning given to it in the Purchase Agreement; "Euroclear" means Euroclear Bank SA/NV;

Eligible Portfolio Assets means a Portfolio Asset: (a) which constitutes an "account" or "general intangible," as such terms are defined in the UCC of all jurisdictions the laws of which are applicable for determining whether the interests created by the Program Documents are perfected, and the obligor in respect of which is an Eligible Fund or a shareholder of an Eligible Fund resident or organized in the United States but not a governmental entity (PROVIDED that a Portfolio Asset shall not be deemed to fail to meet the foregoing obligor condition solely because a minor portion of the Shareholders of a Fund are not organized in or residents of the United States or are governmental entities); (b) which is denominated and payable in Dollars; (c) which constitutes a legal, valid and binding contractual obligation of the obligor thereof enforceable in accordance with its terms, which is fully vested, not executory and shall not be subject to a dispute, offset, counterclaim, defense or Adverse Claim whatsoever, except as enforceability may be limited by applicable bankruptcy laws and other similar laws affecting the rights and remedies of creditors of the obligor generally and general principles of equity whether considered in a proceeding in equity or law; (d) which does not and the origination of which did not contravene any Applicable Law; (e) which, in respect of Asset Based Sales Charges, requires the payment thereof at the Maximum Aggregate Sales Charge Allowable; (f) which, in respect of Contingent Deferred Sales Charges, the terms of which require the payment thereof at the rate set forth on Schedule III to the Master Agreement and do not permit Free Redemptions except in the specific situations set forth in the applicable registration statement as in effect on the Closing Date (the foregoing not being intended to limit the Distributor's right to amend the Contingent Deferred Sales Charges or the terms thereof with respect to Contingent Deferred Sales Changes not sold to the Purchaser); and (g) with respect to which the related Share does not have a Conversion Feature other than a Permitted Conversion Feature, and (h) with respect to which the related Shares do not have a Redemption Feature other than a Permitted Redemption Feature.