Large Middle Market Loan means any Loan issued as part of a loan facility with an original loan size (including any first and second lien loans included in the facility) greater than $125,000,000 but less than $250,000,000, including for purposes of this definition the maximum available amount of commitments under any Revolving Loans and Delayed Draw Term Loans.
Large Middle Market Loan. Any Loan issued as part of a loan facility with an original loan size (including any first and second lien loans included in the facility) greater than $125,000,000 but less than $250,000,000, including for purposes of this definition the maximum available amount of commitments under any Revolving Loans.
Large Middle Market Loan. A Loan that, as of the date the Borrower acquires such Loan, (i) satisfies the definition of “Traditional Middle Market Loan”, (ii) has a tranche size of at least $200,000,000 (or the Eligible Currency equivalent), (iii) has EBITDA for the immediately prior twelve calendar months of at least $40,000,000 (or the Eligible Currency equivalent) and (iv) has a Senior Net Leverage Ratio of less than or equal to 6.0x.
More Definitions of Large Middle Market Loan
Large Middle Market Loan means any Loan Asset that is not a Broadly Syndicated Loan and (i) is syndicated (but not a “club” syndication as determined by the Administrative Agent in its sole discretion), (ii) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the Obligor in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (iii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens described in clause (b) (other than clause (v) thereof) of the definition of Permitted Liens), (iv) the Borrower or the Collateral Manager determines in good faith that the value of the collateral securing such Loan Asset (or the enterprise value of the underlying business) on or about the time of origination equals or exceeds the outstanding principal balance of such Loan Asset plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by the same collateral, (v) has a Tranche Size of at least $200,000,000 and (vi) as of the applicable Cut-Off Date, has an EBITDA for the prior twelve calendar months of at least $60,000,000 (after giving pro forma effect to any acquisition in connection therewith).
Large Middle Market Loan. Any commercial loan that is a syndicated commercial loan (but not a “club” syndication) that (i) meets the definition of “Broadly Syndicated Loan” other than with respect to clauses (i), (v) and (vi) of the definition thereof, and (ii) has a tranche size of $150,000,000 or greater and has an EBITDA for the prior twelve calendar months of $50,000,000 or greater.
Large Middle Market Loan means any Loan that is not a Broadly Syndicated Loan and (i) is syndicated (but not a “club” syndication as determined by the Administrative Agent in its sole discretion), (ii) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the Obligor in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (iii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens described in clause (b) (other than clause (v) thereof) of the definition of Permitted Liens), (iv) the Borrower or the Collateral Manager determines in good faith that the value of the collateral securing such Loan (or the enterprise value of the underlying business) on or about the time of origination equals or exceeds the outstanding principal balance of such Loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by the same collateral, (v) has a Tranche Size of at least $200,000,000 and (vi) as of the applicable Cut-Off Date, has an EBITDA for the prior twelve calendar months of at least $60,000,000 (after giving pro forma effect to any acquisition in connection therewith).
Large Middle Market Loan. “Recoveries”, “Senior Net Leverage Ratio”, “Total Net Leverage Ratio”, “Traditional Middle Market Loan”, and clause (aa) of the definition of “Loan Tape”, each in Section 1.01, Section 2.06(c), Section 2.15(a), Section 2.18 and Section 2.19, and the Collateral Manager acknowledges that it has read and understood the requirements of the foregoing sections and hereby agrees to perform those specified functions subject to and in accordance with the terms of this Agreement and subject to and consistent with the Collateral Management Standard.
Large Middle Market Loan. Any Loan Asset that is a commercial loan that (a) satisfies the definition of “Broadly Syndicated Loan” other than with respect to clauses (i) and (iv) thereof and (b) has an original tranche size of at least $150,000,000.$150,000,000 to $300,000,000.
Large Middle Market Loan. “Last Out Loan”, “Recoveries”, “Senior Net Leverage Ratio”, “Second Lien Loan”, “Unsecured Loan”, “Total Leverage Ratio” and “Traditional Middle Market Loan”, each in Section 1.01, Section 2.06(c), Section 2.15(a), Section 2.18 and Section 2.19, and the Collateral Manager acknowledges that it has read and understood the requirements of the foregoing sections and hereby agrees to perform those specified functions subject to and in accordance with the terms of this Agreement and subject to and consistent with the Collateral Management Standard.
Large Middle Market Loan means any Loan Asset that is a First Lien Loan Asset or a Qualified First Lien Loan, that does not qualify as Broadly Syndicated Loan and that (a) the Obligor of which has a TTM EBITDA of $75,000,000 or greater or (b) the Obligor of which has a TTM EBITDA of $50,000,000 or greater and a Senior Leverage Ratio of less than or equal to 4.75x.