Market Trigger Event definition

Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing or (ii) LTV as of such date exceeds the Applicable LTV Trigger.

Market Trigger Event means any instance of the 20-day VWAP falling below the Floor on its principal Trading Market.

Market Trigger Event means, as of any date of determination, (a) any Event of Default has occurred and is continuing, or (b) the LTV as of such date exceeds the Maximum Quarterly LTV Percentage then applicable (such Market Trigger Event, set forth in this clause (b), the “LTV Trigger Event”).

Examples of Market Trigger Event in a sentence

• If at any time after the date of issuance of the Preferred Stock the then unissued portion of any Holder's Cap Amount becomes less than one hundred seventy-five percent (175%) of the number of shares of Common Stock then issuable upon conversion of such Holder's shares of Preferred Stock without giving effect to the limitations set forth in Section IV(G) hereof (a "Trading Market Trigger Event"), the Company shall notify the Holders of such occurrence as soon as practicable.

• During or after the Reinvestment Period, the Borrower (or the Portfolio Asset Servicer on its behalf) may transfer Principal Collections to the Unfunded Exposure Account or use Principal Collections to fund Delayed Draws, so long as no Event of Default or Market Trigger Event has occurred and is continuing, or would result from such transfer as demonstrated in a Borrowing Base Certificate delivered by the Borrower in connection therewith.

• Following the occurrence and during the continuance of a Market Trigger Event, no Loan Party shall withdraw any amounts held in the Collection Account without the approval of the Administrative Agent (acting at the direction of the Majority Lenders).

• The Administrative Agent shall be deemed not to have knowledge of any Event of Default, Unmatured Event of Default, Market Trigger Event or Rating Event unless and until a Responsible Officer of the Administrative Agent receives a written notice from the Borrower, Holdings or a Lender describing such Event of Default, Unmatured Event of Default, Market Trigger Event or Rating Event and conspicuously marked as a notice of default or event of default.

• If the Availability Period has been suspended as provided in this Section 2.01, the Availability Period shall be reinstated once the Administrative Agent (acting at the written direction of the Majority Lenders), in its reasonable discretion, waives the Event of Default or Market Trigger Event which gave rise to such suspension in accordance with Section 11.01 or the Event of Default or a Market Trigger Event which gave rise to such suspension no longer exists.

More Definitions of Market Trigger Event

Market Trigger Event means, as of any date of determination, (i) an Event of Default has occurred and is continuing, (ii) an LTV Trigger Event has occurred and is continuing, (iii) the Debt Service Coverage Ratio (commencing with the period ending September 30, 2021) as of such date is less than 3.0:1.0, (iv) [reserved], (v) a Material Investment Event or a Material Modification has occurred and is continuing, (vi) the Eligible Portfolio Assets consist of less than six (6) separate General Partnership Investments or the aggregate Investment Value of all Eligible Portfolio Assets is less than $300,000,000, or (vii) the occurrence of a Ratings Event. For the avoidance of doubt, the occurrence of a Market Trigger Event under this Agreement shall not constitute an Event of Default. “Material Adverse Effect” means (a) a material adverse effect on the business, financial condition, operations, liabilities (actual or contingent) or performance of Holdings and the Loan Parties, taken as a whole, (b) a material adverse effect on the validity or enforceability of this Agreement or any other Transaction Document, (c) a material impairment of the rights and remedies of the Administrative Agent, the Servicer, any Lender or any other Secured Parties with respect to matters arising under this Agreement or any other Transaction Document, (d) a material adverse effect on the ability of Holdings and the Loan Parties, taken as a whole, to perform their respective obligations under this Agreement or any other Transaction Document or (e) a material adverse effect on the existence, perfection, priority or enforceability of the Administrative Agent’s or the other Secured Parties’ Lien on the Collateral Portfolio; provided that, in each case, there shall be no Material Adverse Effect to the extent such Material Adverse Effect arises from the action (or inaction) of the Administrative Agent, the Servicer, any Lender or any other Secured Party.

Market Trigger Event means, as of any date of determination, either (a) the Portfolio LTV as of such date exceeds the Maximum LTV Percentage then applicable or (b) despite using its commercially reasonable efforts, the Borrower is unable to deliver either the preliminary feedback or the final rating levels described in Section 5.01(g) or to restore the rating from the NRSRO that previously rated the facility

Market Trigger Event means that the Calculation Agent has determined that the secondary mid price of the Notes (expressed as a percentage of the Specified Denomination) and published on the source specified in the applicable Final Terms (the “Market Trigger Event Source”) has fallen below a percentage specified in the applicable Final Terms (the ‘Market Trigger Event Percentage”) and is continuing for a period of five (or such other number of days as specified in the applicable Final Terms) consecutive Business Days (as defined in “General Terms and Conditions of the Notes Part 2 - Repack Notes Specific Provisions”).

Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing, (ii) LTV as of such date exceeds the Applicable LTV Trigger or (iii) any Determination Date that occurs on or after twelve months prior to the Stated Maturity Date. "Material Adverse Effect" means a material adverse effect on (a) the business, financial condition, operations, liabilities (actual or contingent), performance or properties of the Borrower, (b) the validity or enforceability of this Agreement or any other Transaction Document or the validity or enforceability of the Portfolio Assets generally or any material portion of the Portfolio Assets, (c) the rights and remedies of the Collateral Custodian, the Calculation Agent, the Administrative Agent, any Lender or any other Secured Parties with respect to matters arising under this Agreement or any other Transaction Document, (d) the ability of the Borrower to perform its obligations under this Agreement or any other Transaction Document or (e) the existence, perfection, priority or enforceability of the Administrative Agent's or the other Secured Parties' Lien on the Collateral; provided that, there shall be no Material Adverse Effect to the Borrower to the extent such Material Adverse Effect arises from the action (or inaction) of the Calculation Agent, the Collateral Custodian, the Administrative Agent or a Lender. "Material Modification" means any amendment or waiver of, or modification or supplement to, or termination, cancellation or release of, a Loan Agreement for a Portfolio Asset or for the Underlying Loan Obligation for a Portfolio Asset, as applicable, executed or effected on or after the applicable Cut‐ Off Date that: (a) forgives, excuses, reduces, waives or modifies such Loan Agreement or the related loan documents in a manner which would reduce the outstanding principal amount of the amount due thereunder, reduce the interest rate by greater than 0.50%, calculated on an aggregate basis after the applicable Cut‐Off Date, or reduce the amount of any prepayment premium or fees payable thereunder; (b) extends the scheduled date for payment of principal, interest, fees or other amounts payable under such Loan Agreement or the related loan documents beyond six months from the original scheduled date for each Loan Asset; (c) extends the scheduled date of expiration or termination of any commitment to make Delayed Draws with respect to such Loan Asset; (d) increases the Borrower's commitment to m...

Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing, (ii) LTV as of such date exceeds the Applicable LTV Trigger, (iii) the Borrower is unable to maintain an issuer rating or credit facility rating with respect to the credit facility evidenced by this Agreement at least equal to an investment grade rating (BBB- or higher, or the equivalent) for a period of ninety (90) days, or (iv) any Determination Date that occurs on or after twelve months prior to the Stated Maturity Date.

Market Trigger Event means, as at any date of determination, any of the following events shall have occurred: (a) the LTV exceeds 65%, (b) at any time on or after the date which is 18 months after the Closing Date, there are fewer than 50 Distinct Obligors with respect to all Performing Loan Assets, (c) at any time on or after the date which is 18 months prior to the Stated Maturity Date, the aggregate outstanding principal amount of Advances advanced to the Borrower hereunder is greater than zero, or (d) a Rating Event has occurred and a Rating Event Cure has not occurred.

Market Trigger Event means, as of any date of determination, (i) an Event of Default has occurred and is continuing, (ii) an LTV Trigger Event has occurred and is continuing, (iii) the Debt Service Coverage Ratio (commencing with the period ending September 30, 2021) as of such date is less than 3.0:1.0, (iv) [reserved], (v) a Material Investment Event or a Material Modification has occurred and is continuing, (vi) the Eligible Portfolio Assets consist of less than six (6) separate General Partnership Investments or the aggregate Investment Value of all Eligible Portfolio Assets is less than $300,000,000, or (vii) the occurrence of a Ratings Event. USActive 58800445.158806140.10 -24- SK 28388 0001 10656366 v3