Pending Rating DIP Collateral Obligation definition

Pending Rating DIP Collateral Obligation. A DIP Collateral Obligation that is newly issued and does not have an S&P Rating as of the date on which the Issuer commits to acquire such obligation, and with respect to which the Collateral Manager reasonably expects such Collateral Obligation will have an S&P Rating within 90 days of such date. For purposes of all calculations to be made under this Indenture, a Pending Rating DIP Collateral Obligation will be deemed to have an S&P Rating not to exceed "B-", as determined by the Collateral Manager in its commercially reasonable discretion until such time as it has an S&P Rating so long as the Collateral Manager reasonably expects such DIP Collateral Obligation will have such S&P Rating within 90 days of acquisition of such DIP Collateral Obligation. From and after the date occurring 90 days after such date of acquisition, such Collateral Obligation shall no longer be a Pending Rating DIP Collateral Obligation.
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Pending Rating DIP Collateral Obligation. A DIP Collateral Obligation that does not have an S&P Rating as of the date on which the Issuer commits to acquire such obligation, and with respect to which the Collateral Manager reasonably expects such Collateral Obligation will have an S&P Rating within 90 days of such date. For purposes of all calculations to be made under this Indenture, a Pending Rating DIP Collateral Obligation will be treated, (A) if the Collateral Manager reasonably believes it will have an S&P Rating no lower than “B-”, (x) as if it has an S&P Rating of “B-” for a period of 90 calendar days after classification as a Pending Rating DIP Collateral Obligation and (y) as if it has an S&P Rating of “CCC-” beginning 91 calendar days after classification as a Pending Rating DIP Collateral Obligation or (B) if the Collateral Manager reasonably believes it will have an S&P Rating lower than “B-”, as if it has an S&P Rating of “CCC-”, in each case described in the foregoing clauses (A) and (B) until such time as it has an S&P Rating.
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Pending Rating DIP Collateral Obligation. A DIP Collateral Obligation that does not have an S&P Rating as of the date on which the Issuer commits to acquire such obligation, and with respect to which the Collateral Manager reasonably expects such Collateral Obligation will have an S&P Rating within 90 days of such date. For purposes of all calculations to be made under this Indenture, a Pending Rating DIP Collateral Obligation will be deemed to have an S&P Rating as determined by the Collateral Manager in its commercially reasonable discretion until such time as it has an S&P Rating so long as the Collateral Manager reasonably expects such DIP Collateral Obligation will have such S&P Rating within 90 days of acquisition of such DIP Collateral Obligation.
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Examples of Pending Rating DIP Collateral Obligation in a sentence

  • A loan (including any Pending Rating DIP Collateral Obligation) made to a debtor-in-possession pursuant to Section 364 of the U.S. Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the U.S. Bankruptcy Code and fully secured by senior liens.

  • For purposes of all calculations to be made under this Indenture, a Pending Rating DIP Collateral Obligation will be deemed to have an S&P Rating not to exceed "B-", as determined by the Collateral Manager in its commercially reasonable discretion until such time as it has an S&P Rating so long as the Collateral Manager reasonably expects such DIP Collateral Obligation will have such S&P Rating within 90 days of acquisition of such DIP Collateral Obligation.

  • From and after the date occurring 90 days after such date of acquisition, such Collateral Obligation shall no longer be a Pending Rating DIP Collateral Obligation.

  • If a Pending Rating DIP Collateral Obligation does not have an S&P Rating or Moody’s Rating within 90 days of issuance of such Pending Rating DIP Collateral Obligation, it shall cease to be a Pending Rating DIP Collateral Obligation (and shall therefore not qualify as a Collateral Obligation unless and until it receives such rating).

  • A Loan (including a Pending Rating DIP Collateral Obligation) made to a debtor in possession pursuant to Section 364 of the Bankruptcy Code orany other applicable bankruptcy law having the priority allowed by Section 364(c) of the Bankruptcy Code, Section 364(d) of the Bankruptcy Code or any other applicable bankruptcy law and fully secured by senior liens.


More Definitions of Pending Rating DIP Collateral Obligation

Pending Rating DIP Collateral Obligation means a DIP Collateral Obligation that does not have an S&P Rating, a Fitch Rating or a Moody's Rating, as applicable, as of the date on which the Issuer commits to acquire such obligation, and with respect to which the Collateral Manager reasonably expects such Collateral Obligation will have an S&P Rating, a Fitch Rating or Moody's Rating, as applicable, within 90 days of such date. Until such time as such Collateral Obligation has an S&P Rating, a Fitch Rating and/or a Moody's Rating, as applicable, the S&P Rating, Fitch Rating or Moody's Rating, as applicable, of a Pending Rating DIP Collateral Obligation for purposes of all calculations to be made under this Indenture shall be a rating that the Collateral Manager in its commercially reasonable judgment expects to be assigned by S&P, Fitch or Moody's, as applicable; provided that, from and after the date occurring 90 days after such
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Related to Pending Rating DIP Collateral Obligation

  • Collateral Obligation means a Loan owned by the Borrower, excluding the Retained Interest thereon.

  • Delayed Drawdown Collateral Obligation A Collateral Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Documents relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid by the borrower thereunder; but any such Collateral Obligation will be a Delayed Drawdown Collateral Obligation only until all commitments by the Issuer to make advances to the borrower expire or are terminated or are reduced to zero.

  • Schedule of Collateral Obligations means the list or lists of Collateral Obligations attached to each Asset Approval Request and each Reinvestment Request. Each such schedule shall identify the assets that will become Collateral Obligations, shall set forth such information with respect to each such Collateral Obligation as the Borrower or the Facility Agent may reasonably require and shall supplement any such schedules attached to previously-delivered Asset Approval Requests and Reinvestment Requests.

  • General obligation bonds means, collectively, the Limited Tax General Obligation Bonds and the Unlimited Tax General Obligation Bonds.

  • General obligation bond means a Bond, the payment of principal of and interest on which is a General Obligation of the Authority.

  • Final Cash Collateral Order means the Final Order (I) Authorizing Use of Cash Collateral, (II) Granting Adequate Protection, (III) Modifying the Automatic Stay to Permit Implementation, and (IV) Granting Related Relief [Docket No. 988] entered by the Bankruptcy Court on March 25, 2015, including all stipulations related thereto.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Encumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Cash Collateral Order means the First Cash Collateral Order, as extended and modified by subsequent orders of the Bankruptcy Court [ECF Nos. 2402, 2726, 3207, 3480, 5580, 6128, 7378, 8081, 8467, 8671, 8958, 9112].

  • Unencumbered Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes, an amount equal to the product of

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Refinancing Effective Date shall have the meaning assigned to such term in Section 2.21(j).

  • Liquidity Obligations means all principal, interest, fees and other amounts owing to the Liquidity Providers under the Liquidity Facilities, Section 8.1 of the Participation Agreements or the Fee Letters.

  • Class A-1 Maturity Date means [ ] (or, if such day is not a Business Day, the next preceding Business Day).

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Additional Refinancing Lender has the meaning set forth in Section 2.15(a).

  • Class A-2 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Original Subordinated Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Cash Collateral Orders means, collectively, the Interim Cash Collateral Order and the Final Cash Collateral Order.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Class B Maturity Date means the January 2040 Distribution Date.

  • Non-Ratable Loan and “Non-Ratable Loans” have the meanings specified in Section 1.2(h).

  • Principal Obligations means, as of any date of determination, the sum of (a) the aggregate outstanding principal amount of the Loans as of such date plus (b) the aggregate Letter of Credit Liability as of such date.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.