Excess Concentration Limits means, as of any date of determination, the following limits on the amount of Purchased Loan Balance of all Eligible Loans which may be included in the Borrowing Base, as contemplated by the definition of Excess Concentration Loan Amount:
Excess Concentration Limits means the following limitations:
Excess Concentration Limits means, as of the date indicated in such clause, the following limitations with respect to the Eligible Receivables on such date:
More Definitions of Excess Concentration Limits
Excess Concentration Limits is hereby further amended by adding the following subclauses to clause (b) thereof:
Excess Concentration Limits means, as of any date of determination on or after the Closing Date, the limits set forth below:
Excess Concentration Limits. The definition of “Excess Concentration Limits” shall be modified as follows:
Excess Concentration Limits means, as of any date of determination, the following limits on the amount of the Purchased Loan Balance of all Eligible Loans which may be included in the Borrowing Base, as contemplated by the definition of Excess Concentration Loan Amount: (a) the Aggregate Adjusted Purchased Loan Balance of Eligible Loans, the Obligors of which are headquartered in any one state, shall not exceed 40% of the Aggregate Purchased Loan Balance; (b) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans to a single Obligor shall not exceed an amount equal to the greater of (a) $20,000,000 and (b) the product of (A) 10% and (B) the Aggregate Purchased Loan Balance; (c) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans to the eight (8) Obligors having the largest Purchased Loan Balances, in the aggregate, shall not exceed an amount equal to 75% of the Aggregate Purchased Loan Balance; provided, that, for purposes of calculating this clause (c), all Loans included in the Collateral or to become part of the Collateral the Obligor of which is an Affiliate of another Obligor shall be aggregated with all Loans of such other Obligor; (d) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans which are PIK Loans shall not exceed 15% of the Aggregate Purchased Loan Balance; (e) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans that have remaining terms to maturity greater than 84 months (measured as of the most recent Reporting Date) shall not exceed 15% of the Aggregate Purchased Loan Balance; (f) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans which are Qualifying Syndicated Loans, for which no Subsequent Delivery Trust Receipt (as defined in the Custody Agreement) has been received shall not exceed 10% of the Aggregate Purchased Loan Balance; (g) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans which have a Risk Rating of CCC+/Caa1/3 or below shall not exceed 15% of the Aggregate Purchased Loan Balance; (h) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans which are Revolver Loans shall not exceed 15% of the Aggregate Purchased Loan Balance; (i) the Aggregate Adjusted Purchased Loan Balance of all Eligible Loans which have not been priced by an Approved Valuation Service for a period in excess of (i) 135 days from the last day of the fiscal quarter during which such Loans became Transferred Loans or (ii) 135 days from the last date on which such Loans were priced ...
Excess Concentration Limits. In determining the effect of any single Loan on the Excess Concentration Loan Amount, the Servicer may determine, in its discretion, which of such applicable paragraphs (a)-(v) to utilize. “Excess Leverage Loan” means any Eligible Loan (other than a Mezzanine Loan) having a Leverage Ratio greater than 6.25x. “Excess Payment” is defined in Section 7.18(a)(xvii)(C). “Facility Amount” means, at any time and as reduced or increased from time to time, pursuant to the terms of this Agreement the aggregate dollar amount of Commitments of all the Lenders, as of the date of determination; provided, however, that on or after the Termination Date, the Facility Amount shall be equal to the amount of Advances outstanding. As of the Amendment No. 6 Effective Date, the Facility Amount is $180,000,000. The Facility Amount may be increased up to a total of $300,000,000 in accordance with the provisions of Section 2.3(c). “Fair Market Value” means, with respect to each Eligible Loan, (1) to the extent that such Eligible Loan does not have a long term credit rating from S&P or Xxxxx’x, the least of (a) to the extent priced by an Approved Valuation Service, the product of (x) the remaining principal amount of the Eligible Loan and (y) the pricing as determined by such Approved Valuation Service in its most recent quarterly pricing, (b) the remaining principal amount of such Eligible Loan and (c) if such Eligible Loan has been reduced in value below the remaining principal amount thereof (other than as a result of the allocation of a portion of the remaining principal amount to warrants), the value of such Eligible Loan as required by, and in accordance with, the 1940 Act, as amended, and any orders of the SEC issued to the Originator, to be determined by the Board of Directors of the Originator and reviewed by its auditors and (2) otherwise, the least of (a) (x) the remaining principal amount of such Eligible Loan times (y) the price quoted to the Borrower on such Eligible Loan from a financial institution rated at least A-1/P-1 that makes a market in such Eligible Loan or from a pricing service otherwise acceptable to the Managing Agents, (b) the remaining principal amount of such Eligible Loan and (c) if such Eligible Loan has been reduced in value below the remaining principal amount thereof (other than as a result of the allocation of a portion of the remaining principal amount to warrants), the value of such Eligible Loan as required by, and in accordance with, the 1940 ...
Excess Concentration Limits means the following requirements during the Revolving Period:
Excess Concentration Limits. In determining the effect of any single Loan on the Excess Concentration Loan Amount, the Servicer may determine, in its discretion, which of such applicable paragraphs (a)-(v) to utilize.