Portfolio Acquisition and Disposition Requirements. With respect to any acquisition (whether by purchase or substitution) or disposition of a Collateral Obligation, each of the following conditions: (a) such Collateral Obligation, if being acquired by the Issuer, is an Eligible Asset; (b) such Collateral Obligation is being acquired or disposed of in accordance with the terms and conditions set forth in this Indenture; (c) the acquisition or disposition of such Collateral Obligation does not result in a reduction or withdrawal of the then-current rating issued by Moody’s on any class of Notes then Outstanding; (d) such Collateral Obligation is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes; and (e) so long as any Offered Notes remain outstanding, the Issuer will not purchase any Collateral Obligation that is not an Affiliate Originated Collateral Obligation or a Retention Holder Seasoned Collateral Obligation unless at such time, and after taking into account any such proposed acquisition, the EU Acquisition Test is met.
Portfolio Acquisition and Disposition Requirements. With respect to any acquisition (whether by purchase or substitution) or disposition of a Loan, each of the following conditions: (a) such Loan, if being acquired by the Borrower, is an “eligible asset” as defined in Rule 3a-7; (b) such Loan is being acquired or disposed of in accordance with the terms and conditions set forth in this Agreement; (c) the acquisition or disposition of such Loan does not result in a reduction or withdrawal of the then-current rating issued by any nationally recognized statistical rating organization on any rated, fixed-income security issued by the Borrower (if any); and (d) such Loan is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes; provided that, at any time, the Borrower may elect by written notice to the Administrative Agent to cease compliance with Rule 3a-7 and rely on another exemption from being an investment company under the 1940 Act, in which case the Portfolio Acquisition and Disposition Requirements will no longer be applicable under this Agreement at such tine as such notice is given and such other exemption then applies to the Borrower.
Portfolio Acquisition and Disposition Requirements means, with respect to any acquisition (whether by purchase or substitution) or disposition of a Loan, each of the following conditions: (a) such Loan, if being acquired by the Issuer, is an Eligible Loan; (b) such Loan is being acquired or disposed of in accordance with the terms and conditions set forth in this Agreement; (c) the acquisition or disposition of such Loan does not result in a reduction or withdrawal of the then-current rating issued by any Rating Agency on any class of Notes then outstanding; and (d) such Loan is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes.
Examples of Portfolio Acquisition and Disposition Requirements in a sentence
The Collateral Manager and the Issuer hereby agree that each substitution of Collateral Obligations will be undertaken in accordance with the Portfolio Acquisition and Disposition Requirements.
On any date during the Reinvestment Period, the Collateral Manager on behalf of the Issuer may, subject to the other requirements in this Indenture and compliance with the Portfolio Acquisition and Disposition Requirements, direct the Trustee to invest Principal Proceeds, amounts on deposit in the Ramp-Up Account, Principal Financed Accrued Interest and Principal Financed Capitalized Interest, and the Trustee shall invest such Principal Proceeds and other amounts in accordance with such direction.
Any acquisition of any Collateral Obligation must satisfy the Portfolio Acquisition and Disposition Requirements.
The Collateral Manager and the Issuer hereby agree that each repurchase of Collateral Obligations will be undertaken in accordance with the Portfolio Acquisition and Disposition Requirements.
There can be no assurance, however, that compliance with those requirements, including with respect to the Portfolio Acquisition and Disposition Requirements, will be adequate in order for the Issuer to avail itself of Rule 3a-7.
More Definitions of Portfolio Acquisition and Disposition Requirements
Portfolio Acquisition and Disposition Requirements. With respect to any acquisition (whether by purchase or substitution) or disposition of a Collateral Obligation, each of the following conditions, which shall be certified to in writing in the form of Exhibit H or Exhibit I hereto (as applicable) by the Collateral Manager on behalf of the Issuer to the Trustee: (a) such Collateral Obligation, if being acquired by the Issuer, is an Eligible Asset; (b) such Collateral Obligation is being acquired or disposed of in accordance with the terms and conditions set forth herein; (c) the acquisition or disposition of such Collateral Obligation does not result in a reduction or withdrawal of the then-current rating issued by any Rating Agency on the Secured Notes then Outstanding; and (d) such Collateral Obligation is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes.
Portfolio Acquisition and Disposition Requirements. With respect to any acquisition (whether by purchase or substitution) or disposition of a Collateral Obligation, each of the following conditions: (a) such Collateral Obligation, if being acquired by the Issuer, is an Eligible Asset; (b) such Collateral Obligation is being acquired or disposed of in accordance with the terms and conditions set forth in this Indenture; (c) the acquisition or disposition of such Collateral Obligation does not result in a reduction or withdrawal of the then-current rating issued by any Rating Agency on any class of Notes then Outstanding; and (d) such Collateral Obligation is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes; provided that at any time, the Issuer (or the Collateral Manager on its behalf) may elect to rely solely on the exemption from the 1940 Act provided by Section 3(c)(7) by written notice thereof to the Trustee in which case, at all times thereafter, there will be no Portfolio Acquisition and Disposition Requirements, and all references to such requirements in this Indenture and in the other Transaction Documents shall no longer be in effect.
Portfolio Acquisition and Disposition Requirements means the satisfaction of the following criteria with respect to the purchase or substitution of a Loan:
Portfolio Acquisition and Disposition Requirements means, with respect to any acquisition or disposition of a Loan, each of the following conditions: (a) such Loan, if being acquired by the Issuer, is an Eligible Loan; (b) such Loan is being acquired or disposed of in accordance with the terms and conditions set forth in this Agreement; (c) the acquisition or disposition of such Loan does not result in a reduction or withdrawal of the then-current rating issued by any Rating Agency on any Class of Notes then Outstanding; and (d) such Loan is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes.
Portfolio Acquisition and Disposition Requirements. The meaning specified in Section 12.3(e).
Portfolio Acquisition and Disposition Requirements. With respect to any acquisition or disposition of a Loan, each of the following conditions: (a) such Loan, if being acquired by the Borrower, is an Eligible Loan; (b) such Loan is being acquired or disposed of in accordance with the terms and conditions set forth in this Agreement; and (c) such Loan is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes.
Portfolio Acquisition and Disposition Requirements. With respect to any acquisition (whether by purchase or substitution) or disposition of any Collateral Debt Obligation by the Issuer, each of the following conditions: (a) such Collateral Debt Obligation, if being acquired by the Issuer, qualifies as an Eligible Asset; (b) such Collateral Debt Obligation is being acquired or disposed of in accordance with the terms and conditions set forth herein; and (c) such Collateral Debt Obligation is not being acquired or disposed of for the primary purpose of recognizing gains or decreasing losses resulting from market value changes.