Excess Par Amount definition

Excess Par Amount. An amount, as of any Determination Date, equal to the greater of (a) zero and (b)(i) the Collateral Principal Amount less (ii) the Reinvestment Target Par Balance.

Excess Par Amount means an: An amount, as of any Determination Date, equal to (i) the Collateral Principal Amount less (ii) the Reinvestment Target Par Balance; provided, that such amount will not be less than zero.

Excess Par Amount means the amount, as of any date of determination, equal to the greater of (a) zero and (b)(i) the Aggregate Principal Balance less (ii) the Reinvestment Target Par Balance.

Examples of Excess Par Amount in a sentence

• On the Issue Date, the Collateral Manager, at its discretion, may apply some or all of the Excess Par Amount in accordance with the Post-Acceleration Priority of Payments instead of retaining such amount in the Issuer as Principal Proceeds for future reinvestment.

• For the avoidance of doubt, the Excess Par Amount shall be determined after giving effect to any application of Principal Proceeds on deposit in the Collection Account for the redemption of Secured Notes occurring on such date.

• In addition, in connection with a Refinancing pursuant to which all Classes of Secured Notes are being refinanced, the Collateral Manager may, without the consent of any Person, including any Holder, designate Principal Proceeds up to the Excess Par Amount as of the related Determination Date as Interest Proceeds for payment to the Holders of the Subordinated Notes on the Redemption Date.

• In connection with a Refinancing pursuant to which all Classes of Secured Debt are being refinanced, the Collateral Manager may, without the consent of any Person, including any Holder, designate Principal Proceeds up to the Excess Par Amount as of the related Determination Date as Interest Proceeds for payment on the Redemption Date.

• On the Issue Date, BlueMountain A, at its discretion, may apply some or all of the Excess Par Amount in accordance with the Post-Acceleration Priority of Payments instead of retaining such amount in the Issuer as Principal Proceeds for future reinvestment and, prior to the first Payment Date following the Issue Date, BlueMountain A, at its discretion, may transfer all or any portion of any Remaining Excess Par Amount from the Principal Account to the Interest Account, subject to certain conditions.

More Definitions of Excess Par Amount

Excess Par Amount means the amount, as of any date of determination, equal to the greater of (a) zero and (b) the excess of (i) the Aggregate Collateral Balance (including any Excess Refinancing Proceeds) over (ii) the Reinvestment Target Par Amount; provided that Defaulted Obligations shall be treated as having a Principal Balance equal to the Defaulted Obligation Amount.

Excess Par Amount means the amount, as of any date of determination, equal to the greater of (a) zero and (b) the excess of (i) the sum of the Aggregate Collateral Balance (including any Excess Refinancing Proceeds but excluding any Defaulted Obligations) and the Defaulted Obligation Amount of all Defaulted Obligations over (ii) the Reinvestment Target Par Amount.

Excess Par Amount means an amount, as of any date of determination, equal to the greater of (a) zero and (b) the excess of (i) the sum of the Aggregate Collateral Balance (including any Excess Refinancing Proceeds) over (ii) the Reinvestment Target Par Amount.

Excess Par Amount means the amount, as of any date of determination, equal to the greater of (a) zero and (b)(i) the Aggregate Principal Balance of the Collateral Obligations and the Eligible Investments less (ii) the Target Par Amount.

Excess Par Amount. The amount, as of any date of determination, equal to the greater of (a) zero and (b)(i) the Collateral Principal Amount less (ii) the Reinvestment Target Par Balance; provided that for purposes of calculating the Excess Par Amount, Defaulted Obligations shall be included in the Collateral Principal Amount with a Principal Balance equal to the Defaulted Obligation Balance thereof.

Excess Par Amount means the amount, as of any date of determination, equal to the greater of (a) zero and (b)(i) the Aggregate Principal Balance less (ii) the sum of (x) the Effective Date Target Par Amount and (y) the aggregate amount of Principal Proceeds that result from the issuance of any additional notes (after giving effect to such issuance of any additional notes but excluding (i) the amount of additional Subordinated Notes or Junior Mezzanine Notes issued in excess of the pro rata issuance amount, if any, of such Subordinated Notes or Junior Mezzanine Notes required in connection with any related additional issuance of Secured Notes and (ii) any additional Subordinated Notes or Junior Mezzanine Notes issued without any related additional issuance of Secured Notes).

Excess Par Amount. An amount, as of any Determination Date, equal to the excess, if any, of (a) the Collateral Principal Amount over (b) the Reinvestment Target Par Balance. “Excess Weighted Average Coupon”: A percentage equal as of any date of determination to a number obtained by multiplying (a) the excess, if any, of the Weighted Average