Examples of Initial Measurement Date in a sentence
Although no significant concentration with respect to any particular Obligor, industry or country is expected to exist at the Initial Measurement Date, the concentration of the Portfolio in any one Obligor would subject the Notes to a greater degree of risk with respect to defaults by such Obligor, and the concentration of the Portfolio in any one industry would subject the Notes to a greater degree of risk with respect to economic downturns relating to such industry.
For the purposes of the description of the Portfolio contained in this Offering Circular, including, without limitation, the Collateral Characteristics and the Collateral Quality Characteristics as at the Initial Measurement Date, Portfolio Assets which the Issuer has committed to purchase pursuant to the Collateral Acquisition Agreements but which will not have settled by the Issue Date are included.
If the Initial Measurement Price with respect to a Tranche is less than $18.71, on each anniversary of such Initial Measurement Date (each a “Subsequent Measurement Date”), subject to Section 4.3.3 below, the Company will again determine whether additional shares in the Tranche will vest.
The results of the Collateral Quality Tests determined by the Collateral Administrator (on behalf of the Issuer) as applied to the Initial Portfolio as at the Initial Measurement Date are set out below.
A total of 211,538 shares of common stock became vested on August 21, 2016, the designated Initial Measurement Date.