Fitch Collateral Value definition

Fitch Collateral Value. With respect to any Defaulted Obligation, the lesser of (i) the product of the Fitch Recovery Rate of such Defaulted Obligation multiplied by its Principal Balance, in each case, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation as of the relevant Measurement Date; provided that if the Market Value cannot be determined for any reason, the Fitch Collateral Value shall be determined in accordance with clause (i) above.

Fitch Collateral Value means, in the case of any Collateral Obligation or Eligible Investment, the lower of:

Fitch Collateral Value means, in the case of any Portfolio Asset or Eligible Investment, the lower of: (a) its prevailing Market Value; and (b) the relevant Fitch Recovery Rate, multiplied by its Principal Balance.

Examples of Fitch Collateral Value in a sentence

• As of the Effective Date, the Issuer is required to have acquired, or entered into binding commitments to acquire, Collateral Obligations the Collateral Principal Amount of which equals or exceeds the Reinvestment Target Par Balance (provided that for the purposes of determining such Collateral Principal Amount, the Principal Balance of a Collateral Obligation which is a Defaulted Obligation shall be the lower of its S&P Collateral Value and its Fitch Collateral Value).

• As of the Effective Date, the Issuer is required to have acquired, or entered into binding commitments to acquire, Collateral Obligations such that the Collateral Principal Amount equals or exceeds the Reinvestment Target Par Balance (provided that for the purposes of determining such Collateral Principal Amount, the Principal Balance of a Collateral Obligation which is a Defaulted Obligation shall be the lower of its S&P Collateral Value and its Fitch Collateral Value).

• The Target Par Amount means an amount of ABS Obligations acquired by, or on behalf of, the Issuer up to the end of the Ramp-Up Period having an Aggregate Principal Balance of€446,000,000 provided that, for such purpose, any repayments, prepayments or sales of any ABS Obligations subsequent to the Closing Date shall be disregarded and the Principal Balance of anABS Obligation which is a Defaulted Obligation will be the lower of its S&P Collateral Value and its Fitch Collateral Value.

More Definitions of Fitch Collateral Value

Fitch Collateral Value means, in the case of any Collateral Debt Obligation or Eligible Investment which is a Defaulted Obligation, the lower of:

Fitch Collateral Value means, in the case of any applicable Collateral Debt Obligation, the lower of:

Fitch Collateral Value means, in the case of any applicable ABS Obligation or Eligible Investment which is a Defaulted Obligation, the lower of:

Fitch Collateral Value means, in the case of any Collateral Debt Obligation on any date, the lower of:

Fitch Collateral Value means, for each Defaulted Obligation as at the applicable Measurement Date, the lower of:

Fitch Collateral Value. With respect to any Defaulted Obligation or Deferring Obligation, the lesser of (i) the product of the Fitch Recovery Rate of such Defaulted Obligation, Long-Dated Obligation or Deferring Obligation multiplied by its principal balance, in each case, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation or Deferring Obligation as of the relevant Measurement Date; provided that if the Market Value cannot be determined for any reason, the Fitch Collateral Value shall be determined in accordance with clause (i) above.

Fitch Collateral Value means, for each Defaulted Obligation and Deferring Security as at the applicable Measurement Date, the lower of: