ESG Prohibited Obligation definition

ESG Prohibited Obligation. Any Collateral Obligation of an obligor whose Principal Business is directly derived from any of the following activities of such obligor: (a) the production or marketing of controversial weapons (including antipersonnel landmines, cluster weapons or nuclear, chemical or biological weapons) or the development of nuclear weapons programs, (b) the production or marketing of thermal coal, (c) the exploration, production or transportation of oil from oil sands or unconventional oil and gas extraction, (d) the production of tobacco, (e) the production of or trade in pornography or prostitution, (f) the trade in endangered or protected wildlife or (g) the provision of services related to payday lending.
Sample 1
ESG Prohibited Obligation. With respect to any Obligor at the time of acquisition of the related Collateral Obligation (a) is a business described in the definition of Prohibited Defense Asset, (b) that derives 25% or more of its revenues from the production, use, storage, trade, or the maintenance, transportation, and financing of weapons firearms, (c) that derives 10% or more of its revenues from activities related to pornography and prostitution, (d) (i) that derives 50% or more of its revenues from coal, (ii) extracts more than 20 million tons of coal per year, or (iii) derives 25% or more of its revenues from thermal coal extraction, (e) is a power generation company that (i) has 25% or more of electricity generation capacities powered by coal, (ii) plans to expand coal power generation capacity by more than 3,000 MW in the medium run, (f) that derives (i) 25% or more of its revenues from tar sands extraction, (ii) 10% or more of its revenue from tar sands transportation, (g) that derives (i) 25% or more of its revenues from speculative transactions of soft commodities (such as wheat, rice, meat, soy, sugar, dairy, fish, and corn) or (ii) that transacts with companies whose main business is the production/trading of such commodities, (h) that derives 25% or more of its revenues from the production or sale of tobacco and tobacco products such as cigars, cigarettes, e-cigarettes, smokeless tobacco, dissolvable and chewing tobacco whether directly or indirectly through majority-owned (50%) subsidiaries, (i) that (i) derives 10% or more of its revenues from non-sustainable palm oil production whether directly or indirectly through majority-owned (50%) subsidiaries or owns over 30,000 hectares of palm oil plantations that do not have the Certified Sustainable Palm Oil (CSPO) label, (ii) has material unresolved land rights conflicts (iii) is unable to prove the legality of its operations, or (iv) has not undertaken social and environmental impact assessments in relation to palm oil production, (j) that derives more than 25% of its revenues from traditional pay-day lending, fraudulent and coercive loan origination, financial operations that pose direct or indirect financial risks to customers, and activities facilitating or enabling illegal non-payment or underpayment of taxes, (k) materially breaches the UN’s Global Compact Principles and OECD Guidelines for Multinational Enterprises, (l) that (i) derives 10% or more of its production from fields located in the Arctic as defined by t...
Sample 1
ESG Prohibited Obligation. Any obligation of an obligor whose principal business, to the best of the Asset Manager’s knowledge, is directly derived from any of the following activities of such obligor: (a) the production or marketing of controversial weapons (including antipersonnel landmines, cluster weapons or nuclear, chemical or biological weapons) or the development of nuclear weapons programs, (b) the production or marketing of thermal coal or generating electricity from thermal coal, (c) the exploration, production or transportation of oil from oil sands or unconventional oil and gas extraction, (d) the production of tobacco, (e) the production of or trade in pornography or prostitution, (f) the trade in endangered or protected wildlife, (g) the production or distribution of opioids or (h) the provision of services relating to payday lending.
Sample 1

More Definitions of ESG Prohibited Obligation

ESG Prohibited Obligation. Any Collateral Obligation of an obligor whose Principal Business is directly derived from any of the following activities of such obligor: (a) the production or marketing of controversial weapons (including antipersonnel landmines, cluster weapons or nuclear, chemical or biological weapons) or the development of nuclear weapons programs, (b) the production or marketing of thermal coal, (c) the exploration, production or transportation of oil from oil sands or unconventional oil and gas extraction, (d) the production of tobacco, (e) the production of or trade in pornography or prostitution, (f) the trade in endangered or protected wildlife or (g) the provision of services related to payday lending. "EU Securitization Regulation": The European Union Regulation 2017/2402 as amended, varied or substituted from time to time, including (i) any technical standards thereunder as may be effective from time to time and (ii) any guidance relating thereto as may from time to time be published by an EU regulator. "EU/UK Retained Interest": The meaning assigned in the Risk Retention Letter. "EU/UK Retention Holder": Barings Private Credit Corporation. "Euroclear": Euroclear Bank S.A./N.V. "Event of Default": The meaning specified in Section 5.1 (Events of Default). "Excepted Property": The meaning assigned in the Granting Clauses hereof. "Excess CCC Adjustment Amount": As of any date of determination, an amount equal to the excess, if any, of:
Sample 1
ESG Prohibited Obligation. Any debt obligation or debt security where the consolidated group to which the relevant Obligor belongs is a group whose Primary Business Activity is, as determined by the Collateral Manager in its sole discretion:
Sample 1
ESG Prohibited Obligation. With respect to any Obligor at the time of acquisition of the related Collateral Obligation (a) is a business described in the definition of Prohibited Defense Asset, (b) that derives 25% or more of its revenues from the production, use, storage, trade, or the maintenance, transportation, and financing of weapons firearms, (c) that derives 10% or more of its revenues from activities related to pornography and prostitution, (d) (i) that derives 50% or more of its revenues from coal, (ii) extracts more than 20 million tons of coal per year, or (iii) derives 25% or more of its revenues from thermal coal extraction, (e) is a power generation company that (i) has 25% or more of electricity generation capacities powered by coal, (ii) plans to expand coal power generation capacity by more than 3,000 MW in the medium run, (f) that derives (i) 25% or more of its revenues from tar sands extraction, (ii) 10% or more of its revenue from tar sands transportation, (g) that derives (i) 25% or more of its revenues from speculative transactions of soft commodities (such as wheat, rice, meat, soy, sugar, dairy, fish, and corn) or (ii) that transacts with companies whose main business is the production/trading of such commodities, (h) that derives 25% or more of its revenues from the production or sale of tobacco and tobacco products such as cigars, cigarettes, e-cigarettes,
Sample 1

Related to ESG Prohibited Obligation

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Defaulted Obligation means any Investment in Indebtedness (i) as to which, (x) a default as to the payment of principal and/or interest has occurred and is continuing for a period of thirty two (32) consecutive days with respect to such Indebtedness (without regard to any grace period applicable thereto, or waiver thereof) or (y) a default not set forth in clause (x) has occurred and the holders of such Indebtedness have accelerated all or a portion of the principal amount thereof as a result of such default; (ii) as to which a default as to the payment of principal and/or interest has occurred and is continuing on another material debt obligation of the Portfolio Company under such Indebtedness which is senior or pari passu in right of payment to such Indebtedness; (iii) as to which the Portfolio Company under such Indebtedness or others have instituted proceedings to have such Portfolio Company adjudicated bankrupt or insolvent or placed into receivership and such proceedings have not been stayed or dismissed or such Portfolio Company has filed for protection under Chapter 11 of the United States Bankruptcy Code (unless, in the case of clause (ii) or (iii), such debt is a DIP Loan, in which case it shall not be deemed to be a Defaulted Obligation under such clause); (iv) as to which a default rate of interest has been and continues to be charged for more than 120 consecutive days, or foreclosure on collateral for such debt has been commenced and is being pursued by or on behalf of the holders thereof; or (v) as to which the Borrower has delivered written notice to the Portfolio Company declaring such Indebtedness in default or as to which the Borrower otherwise exercises significant remedies following a default.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Excluded Swap Obligation means, with respect to any Guarantor, (a) any Swap Obligation if, and to the extent that, all or a portion of the Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (i) by virtue of such Guarantor’s failure to constitute an “eligible contract participant,” as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 11.12 and any other applicable agreement for the benefit of such Guarantor and any and all applicable guarantees of such Guarantor’s Swap Obligations by other Loan Parties), at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Guarantor is a “financial entity,” as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and the Approved Counterparty applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the Swap for which such guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • Qualified refunding obligation means an obligation issued or incurred by an authority or by a municipality on behalf of an authority to refund an obligation if the refunding obligation meets both of the following:

  • Excluded Swap Obligations with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantee Obligation of such Guarantor with respect to, or the grant by such Guarantor of a Lien to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act at the time such Guarantee Obligation of such Guarantor, or the grant by such Guarantor of such Lien, becomes effective with respect to such Swap Obligation. If such a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee Obligation or Lien is or becomes excluded in accordance with the first sentence of this definition.