Purchased Accrued Interest definition

Purchased Accrued Interest means, with respect to any Due Period, all payments of interest and proceeds of sale received and other Principal Proceeds received during such Due Period in relation to any Collateral Debt Obligation, in each case, to the extent that such amounts represent accrued interest in respect of such Collateral Debt Obligation (including, in respect of a Mezzanine Obligation, any accrued interest which, as at the time of purchase, had been capitalised and added to the principal amount of such Mezzanine Obligation in accordance with its terms), which was purchased at the time of acquisition thereof with Principal Proceeds and/or amounts paid out of the Unused Proceeds Account.

Purchased Accrued Interest means, with respect to any Payment Date, all payments of interest received or amounts collected that are attributable to interest received during the related Due Period on the Collateral Debt Obligations and Eligible Investments to the extent such payments or amounts constitute accrued interest purchased with Collateral Principal Collections.

Purchased Accrued Interest means, with respect to any Due Period, all payments of interest and proceeds of sale received during such Due Period in relation to any Collateral Debt Obligation, in each case, to the extent that such amounts represent accrued interest in respect of such Collateral Debt Obligation (including, in respect of a Mezzanine Obligation, any accrued interest which, as at the time of purchase had been capitalised and added to the principal amount of such Mezzanine Obligation in accordance with its terms), which was purchased at the time of acquisition thereof with Principal Proceeds, for the avoidance of doubt, excluding any such accrued interest that is paid for out of the subscription proceeds of the Notes on the Closing Date or is owed to the Initial Purchaser as part of the Financed Amount, details of which are notified to the Issuer, the Initial Purchaser and the Collateral Administrator by the Investment Manager on or prior to the Closing Date.

Examples of Purchased Accrued Interest in a sentence

• Interest accrued on an item of Portfolio Collateral at the time of sale or other disposition to the extent paid to the Issuer as part of the sale or other disposition price of such item of Portfolio Collateral after deducting amounts representing Purchased Accrued Interest of such item of Portfolio Collateral.

• Accrued interest may be treated as Collateral Disposition Proceeds (y) to the extent necessary to pay for the principal amount of or accrued interest on Substitute Portfolio Collateral if the item of sold Portfolio Collateral paid interest before, and in the same Due Period as, the date of sale or (z) to the extent such amounts are Purchased Accrued Interest treated as Collateral Principal Collections hereunder.

• Notwithstanding the foregoing, the Principal Balance of each Collateral Debt Obligation will include any applicable Purchased Accrued Interest unless the Principal Balance is deemed to be zero as set forth above.

• All amounts representing (i) proceeds from the sale or other disposition of any Collateral Debt Obligation (including Purchased Accrued Interest but excluding any accrued interest purchased with Interest Proceeds) or any Equity Security and (ii) any proceeds of the foregoing, including from the sale of Eligible Investments purchased with any proceeds described in clause (i) above (including any accrued interest thereon).

• The Loan is backed by 6,304,600 warrants of Farallon with an expiry date of November 17, 2008 (the “Expiry Date”).

More Definitions of Purchased Accrued Interest

Purchased Accrued Interest means, with respect to any Transaction as to which the related Reference Obligation is a Bond, unpaid interest on such Reference Obligation accrued to the Obligation Settlement Date for such Transaction.

Purchased Accrued Interest means, with respect to any Due Period, all payments of interest and proceeds of sale received during such Due Period in relation to any Collateral Debt Obligation, in each case, to the extent that such amounts represent accrued interest in respect of such Collateral Debt Obligation which was purchased at the time of acquisition thereof with Principal Proceeds and/or monies standing to the credit of the Unused Proceeds Account, for the avoidance of doubt, excluding any such accrued interest that is paid for out of the subscription proceeds of the Notes on the Closing Date, details of which are notified to the Issuer, the Initial Purchaser and the Collateral Administrator by the Portfolio Manager on or prior to the Closing Date.

Purchased Accrued Interest means, with respect to any Due Period, all payments of interest and proceeds of sale received during such Due Period in relation to any Underlying Asset, in each case, to the extent that such amounts represent accrued interest in respect of such Underlying Asset (including any accrued interest which, as at the time of purchase had been capitalised and added to the principal amount of such Underlying Asset in accordance with its terms), which was purchased at the time of acquisition thereof with Principal Proceeds but, for the avoidance of doubt, excluding any such accrued interest that is paid for out of the subscription proceeds of the Notes on the Issue Date;

Purchased Accrued Interest means with respect to any Payment Period, all payments of interest received during such Payment Period on the Portfolio Collateral to the extent such payments constitute proceeds from accrued interest purchased with Principal Proceeds.

Purchased Accrued Interest means, determined with respect to each Collateral Debt Security at any time constituting part of the Warehouse Portfolio, the aggregate amount of interest accrued on such Collateral Debt Security, plus, if such Collateral Debt Security is a Delayed Drawdown Security, the aggregate amount of commitment fee (if any) accrued on the Unfunded Amount thereof, in accordance with its terms to the extent accrued with respect to the period prior to the settlement date for the purchase of such Collateral Debt Security by the Borrower and included in the Gross Purchase Price therefor.

Purchased Accrued Interest means all payments of interest received, or amounts collected that are attributable to interest received on Collateral Interests and Eligible Investments, to the extent such payments or amounts constitute accrued interest purchased with Collateral Principal Collections except for interest accrued on Collateral Interests prior to the Closing Date.

Purchased Accrued Interest means with respect to any Payment Period, all payments of interest received during such Payment Period on the Portfolio Collateral and Eligible Investments to the extent such payments constitute proceeds from accrued interest purchased with Principal Proceeds and/or the proceeds from the issuance of the Notes.