Exchanged Equity Security definition

Exchanged Equity Security means an equity security which is not a Collateral Enhancement Obligation, and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer as a result of restructuring of the terms of a Defaulted Obligation in effect as of the later of the Issue Date or date of issuance thereof.

Exchanged Equity Security means any Equity Security received by the Issuer in exchange for a Collateral Debt Obligation or a portion thereof in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the issuer thereof; provided that, for purposes of the Volcker Rule, such Equity Security constitutes a security received in lieu of debts previously contracted with respect to a loan or loans included in the Trust Estate.

Exchanged Equity Security means any Equity Security received by the Issuer in

Examples of Exchanged Equity Security in a sentence

• Under the Collateral Management and Administration Agreement and as described herein, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Obligations in any period of 12 calendar months as well as any Collateral Obligation that meets the definition of a Defaulted Obligation, an Exchanged Equity Security and, subject to the satisfaction of certain conditions, a Credit Risk Obligation or Credit Improved Obligation.

• Under the Collateral Management and Administration Agreement, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Obligations in any period of 12 calendar months and, in addition, any Collateral Obligation that meets the definition of a Defaulted Obligation, an Exchanged Equity Security and, subject to the satisfaction of certain conditions, a Credit Risk Obligation or Credit Improved Obligation.

• Under the Collateral Management and Administration Agreement and as described herein, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Obligations in any period of 12 calendar months and, in addition, any Collateral Obligation that meets the definition of a Defaulted Obligation, an Exchanged Equity Security and, subject to the satisfaction of certain conditions, a Credit Risk Obligation or Credit Improved Obligation.

• Under the Collateral Management Agreement and as described herein, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Obligations in any successive rolling twelve month period, as well as any Exchanged Equity Security and, subject to the satisfaction of certain conditions, a Credit Risk Obligation, a Defaulted Obligation or a Credit Improved Obligation.

• In such case, a creditor of the Issuer may be able, by way of legal proceedings or otherwise in the relevant jurisdiction, to attach against the relevant Collateral Obligation, Collateral Enhancement Obligation, Exchanged Equity Security or Eligible Investment so that such creditor is able to have the asset transferred to it or sold and the proceeds paid to it, in each case, in discharge of the debt owed by the Issuer to such creditor.

More Definitions of Exchanged Equity Security

Exchanged Equity Security. Any equity security or any other security that is not eligible for purchase by the Issuer under the definition of “Collateral Obligation” and received in exchange for a Collateral Obligation.

Exchanged Equity Security. Any Equity Security received by the Issuer in exchange for a Defaulted Obligation.

Exchanged Equity Security means an equity security which is not a Dutch Ineligible Security and which is delivered to the Issuer in any circumstances including (a) upon acceptance of an Offer in respect of a Defaulted Obligation, (b) as a result of a restructuring of the terms of a Collateral Debt Obligation or (c) in connection with the exercise of any conversion or exchange rights in respect of a Collateral Debt Obligation;

Exchanged Equity Security means an equity security which is not a Collateral Enhancement Obligation and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer in connection with the exercise of any conversion or exchange rights in respect of a Collateral Loan Obligation;

Exchanged Equity Security means an Equity Security which is not a Collateral Enhancement Obligation or a Dutch Ineligible Security provided that, unless the Permitted Securities Condition is satisfied, an Equity Security is received by the Issuer in the ordinary course of the workout, foreclosure or collection of a debt previously contracted in good faith.

Exchanged Equity Security means an equity security (i) which is not a Collateral Enhancement Obligation or a Dutch Ineligible Security and (ii) the acquisition, holding and nature of which does not violate the investment restrictions set out in the Investment Management Agreement, and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer as a result of restructuring of the terms of a Defaulted Obligation in effect as of the later of the Issue Date or date of issuance thereof.

Exchanged Equity Security means any Equity Security received by the Issuer inexchange for a Collateral Debt Obligation, Equity Security or a portion thereof in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the issuer thereof; provided that is for purposes of the Volcker Rule, such Equity Security constitutes a security received "in lieu of debts previously contracted with respect to a loan or loans included in the Trust Estate.for" as determined by the Collateral Manager in its commercially reasonable judgment, based upon written (which may be by electronic mail) advice of nationally recognized counsel experienced in such matters or the written (which may be by electronic mail) advice of in-house counsel to the Collateral Manager experienced in such matters.