Eligible Second Lien Obligation means a loan, debt obligation, security or Participation Interest (for purposes of this definition, a “loan”) that:
Eligible Second Lien Obligation means a Loan that:
Eligible Second Lien Obligation means a loan, debt obligation or Participation Interest (for purposes of this definition, a
More Definitions of Eligible Second Lien Obligation
Eligible Second Lien Obligation means a Loan that: (a) would be a First Lien/Last Out Term Obligation if the related First Out Facility had a ratio of funded debt under such related First Out Facility to TTM EBITDA of less than or equal to 1.5x; (b) would be a Bifurcated First Lien Term Loan if the related Cross-Defaulted ABL Loan had a ratio of funded debt under such related Cross-Defaulted ABL Loan to TTM EBITDA of less than or equal to 1.5x; or
Eligible Second Lien Obligation. “Fundamental Amendment”, “Interest Coverage Ratio Test”, “Maximum Advance Rate Test”, “Maximum Available Amount”, “Minimum Equity Amount”, “Portfolio Quality Test”, “Weighted Average Spread Test”, “Weighted Average Life Test”, “Weighted Average Risk Factor Rating Test”, “Weighted Average Senior Debt Ratio Test”, “Weighted Average TTM EBITDA Test”, “Weighted Average Total Debt Ratio Test”, “Weighted Average Loan to Enterprise Value Test”, “Weighted Average Debt to TTM Recurring Revenue Test”, “Weighted Average Recurring Revenue Loan to Enterprise Value Test”, or in any defined term used therein, in each case in a manner which would have the effect of making more credit available to the Borrower, be adverse to the interests of Lenders or less restrictive on the Borrower in any other material fashion, or (i) extend the Reinvestment Period. “Funding Effective Date” means the later of the Closing Date and the date on which the conditions precedent set forth in Section 3.01 are satisfied. “GAAP” means generally accepted accounting principles in effect from time to time in the United States. “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, quasi-regulatory authority, administrative tribunal, central bank, public office, court, arbitration or mediation panel, or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of government, including the SEC, the stock exchanges, any Federal, state, territorial, county, municipal or other government or governmental agency, arbitrator, board, body, branch, bureau, commission, court, department, instrumentality, master, mediator, panel, referee, system or other political unit or subdivision or other entity of any of the foregoing, whether domestic or foreign. “Governmental Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Governmental Authorities. “Governmental Filings” means all filings, including franchise and similar tax filings, and the payment of all fees, assessments, interests and penalties associated with such filings with all Governmental Authorities. “IBA” means the ICE Benchmark Administration Limited (together with any successor to the ICE Benchmark Administration Limited). “Indemnified Party” has the meaning assigned to such term in Section 16.04(b). “Ineligible Loan” means, at any t...
Eligible Second Lien Obligation. “Fundamental Amendment”, “Interest Coverage Ratio Test”, “Maximum Advance Rate Test”, “Maximum Available Amount”, “Minimum Equity Amount”, “Portfolio Quality Test”, “Weighted Average Spread Test”, “Weighted Average Life Test”, “Weighted Average Risk Factor Rating Test”, “Weighted Average Senior Debt Ratio Test”, “Weighted Average TTM EBITDA Test”, “Weighted Average Total Debt Ratio Test”, “Weighted Average Loan to Enterprise Value Test”, “Weighted Average Debt to TTM Recurring Revenue Test”, “Weighted Average Recurring Revenue Loan to Enterprise Value Test”, or in any defined term used therein, in each case in a manner which would have the effect of making more credit available to the Borrower, be adverse to the interests of Lenders or less restrictive on the Borrower in any other material fashion, or (i) extend the Reinvestment Period.