Plan Asset Rule definition
Plan Asset Rule has the meaning assigned to such term in Section 4.01(m).
Plan Asset Rule has the meaning assigned to such term in Section 4.01(m). USActive 53861575.5 -38-
Plan Asset Rule has the meaning assigned to such term in Section 4.01(m). “Portfolio Advance Rate Adjustment” means, as of any date of determination, the percentage set forth on the table below corresponding to the highest Diversity Score then-applicable to the Collateral Loans: Less than 4 0% Greater than or equal to 4, but less than 6 50%40% Greater than or equal to 6, but less than 810 70%60% Greater than or equal to 810, but less than 1012 80% Greater than or equal to 10, but less than 12 90% Greater than or equal to 12 100%
Examples of Plan Asset Rule in a sentence
The Collateral is not deemed to be “plan assets” within the meaning of the Plan Asset Rule and is not subject to Similar Law.
It shall not take any action, or omit to take any action, that results in its underlying assets being deemed to constitute “plan assets” for purposes of the Plan Asset Rule or becoming subject to Similar Law or the Collateral being deemed to be “plan assets” for purposes of the Plan Asset Rule or becoming subject to Similar Law.
None of the assets of the Collateral Manager are deemed to constitute “plan assets” within the meaning of the Plan Asset Rule or are subject to Similar Law.
It shall not take any action, or omit to take any action, that results in its underlying assets being deemed to constitute “plan assets” for purposes of the Plan Asset Rule or becoming subject to Similar Law.
More Definitions of Plan Asset Rule
Plan Asset Rule has the meaning assigned to such term in Section 4.01(n). “Portfolio Advance Rate Adjustment” means, as of any date of determination, the percentage set forth on the table below corresponding to the highest Diversity Score then- applicable to the Collateral Loans: Diversity Score Advance Rate Adjustment Less than 4 ......................................................................................... 0% Greater than or equal to 4, but less than 6 ......................................... 60% Greater than or equal to 6, but less than 8 ......................................... 70% Greater than or equal to 8, but less than 10 ....................................... 90% Greater than or equal to 10 ................................................................ 100% “Post-Default Rate” means a rate per annum equal to the Interest Rate otherwise in effect pursuant to this Agreement plus 2.00% per annum. “Pounds Sterling” and “₤” means the lawful currency of the United Kingdom.
Plan Asset Rule has the meaning assigned to such term in Section 4.01(n). “Portfolio Advance Rate Adjustment” means, as of any date of determination, the percentage set forth on the table below corresponding to the highest Diversity Score then- applicable to the Collateral Loans: Diversity Score Advance Rate Adjustment Less than 4 ......................................................................................... 0% Greater than or equal to 4, but less than 6 .......................................... 60% Greater than or equal to 6, but less than 8 .......................................... 70% Greater than or equal to 8, but less than 10 ........................................ 90% Greater than or equal to 10 ................................................................. 100% “Post-Default Rate” means a rate per annum equal to the Interest Rate otherwise in effect pursuant to this Agreement plus 2.00% per annum. “Pounds Sterling” and “₤” means the lawful currency of the United Kingdom. “Pricing Source” means any of Loan Pricing Corporation, Mark-it Partners (formerly known as Loan X), Interactive Data Corporation, Bloomberg or another nationally recognized broker-dealer or nationally recognized quotation service mutually agreed from time to time by (a) the Administrative Agent and (b) the Equityholder or Servicer. “Prime Rate” means the rate of interest per annum last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve
Plan Asset Rule has the meaning specified in Section 4.01(n). “Portfolio Collateral” has the meaning assigned to such term in Section 15.01(b). “Portfolio Quality Test” means each of (i) the Weighted Average Spread Test, (ii) the Weighted Average Life Test, (iii) the Weighted Average Risk Factor Rating Test, (iv) the Weighted Average Senior Debt Ratio Test, (v) the Weighted Average TTM EBITDA Test, and (vi) the Weighted Average Total Debt Ratio Test and (vii) the Minimum Obligor Test. “Potential Collateral Manager Termination Event” means any event which, with the passage of time, the giving of notice, or both, would (if not cured or otherwise remedied during such time) constitute a Collateral Manager Termination Event. “Prime Rate” means the rate announced by KeyBank National Association from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by KeyBank National Association in connection with extensions of credit to debtors. KeyBank National Association may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. “Principal Balance” means, with respect to any Loan, as of any date of determination, the outstanding principal amount of such Loan (excluding any capitalized interest). “Principal Collection Subaccount” has the meaning specified in Section 8.02(a). “Principal Proceeds” means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including any Cash equity contributions (unless specified by the Collateral Manager to constitute Interest Proceeds in accordance with Section 10.05). “Priority of Payments” has the meaning specified in Section 9.01(a). “Private Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Persons (other than Governmental Authorities). “Proceeds” has, with reference to any asset or property, the meaning assigned to it under the UCC and, in any event, shall include, but not be limited to, any and all amounts from time to
Plan Asset Rule has the meaning specified in Section 4.01(n). “Portfolio Collateral” has the meaning assigned to such term in Section 15.01(b). “Portfolio Quality Test” means each of (i) the Weighted Average Spread Test, (ii) the Weighted Average Life Test, (iii) the Weighted Average Risk Factor Rating Test, (iv) the Weighted Average Senior Debt Ratio Test, (v) the Weighted Average TTM EBITDA Test, (vi) the Weighted Average Total Debt Ratio Test, (vii) the Weighted Average Loan to Enterprise Value Test, (viii) the Weighted Average Debt to TTM Recurring Revenue Test, and (ix) the Weighted Average Recurring Revenue Loan to Enterprise Value Test. “Potential Collateral Manager Termination Event” means any event which, with the passage of time, the giving of notice, or both, would (if not cured or otherwise remedied during such time) constitute a Collateral Manager Termination Event. “Pounds Sterling” means the lawful currency of the United Kingdom. “Prime Rate” means the rate announced by KeyBank National Association from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by KeyBank National Association in connection with extensions of credit to debtors. KeyBank National Association may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. “Principal Balance” means, with respect to any Loan, as of any date of determination, the Dollar Equivalent of the outstanding principal amount of such Loan (excluding any capitalized interest). “Principal Collection Subaccount” has the meaning specified in Section 8.02(a). “Principal Proceeds” means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any Cash equity contributions (unless specified by the Collateral Manager to constitute Interest Proceeds in accordance with Section 10.05).
Plan Asset Rule has the meaning assigned to such term in Section 4.01(m). “Portfolio Advance Rate Adjustment” means, as of any date of determination, the percentage set forth on the table below corresponding to the highest Diversity Score then-applicable to the Collateral Loans: