Recurring Revenue Loan Covenant Flip Scheduled Date definition

Recurring Revenue Loan Covenant Flip Scheduled Date. With respect to any Recurring Revenue Loan, as of its date of acquisition by the Borrower, the scheduled date upon which the covenants for such Loan are to be replaced with traditional cash flow leverage lending covenants (such as those based on total leverage, senior leverage, and interest coverage) as specified in the original Underlying Instruments for such Loan.
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Recurring Revenue Loan Covenant Flip Scheduled Date. With respect to any Recurring Revenue Loan, as of its date of acquisition by the Borrower, the scheduled date upon which the covenants for such Loan are to be replaced with traditional cash flow leverage lending covenants (such as those based on total leverage, senior leverage, and interest coverage) as specified in the original Underlying Instruments for such Loan. “Recurring Revenue Loan Gross Leverage Ratio”: With respect to any Recurring Revenue Loan, the ratio for the related Obligor of (a) indebtedness to (b) Recurring Revenue, as calculated by the Borrower and Collateral Manager in good faith using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor as per the requirements of the related Underlying Instruments. “Recurring Revenue Reclassification Date”: The meaning specified in the definition of Recurring Revenue Loan. “Reinvestment Notice”: Each notice required to be delivered by the Borrower pursuant to Section 3.2(a) in respect of any reinvestment, in the form of Exhibit A-3. “Register”: The meaning specified in Section 12.16(b). USActive 37382726.2937382726.32 38
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Recurring Revenue Loan Covenant Flip Scheduled Date. With respect to any Recurring Revenue Loan, as of its date of acquisition by the Borrower, the scheduled date upon which the covenants for such Loan are to be replaced with traditional cash flow leverage lending covenants (such as those based on total leverage, senior leverage, and interest coverage) as specified in the original Underlying Instruments for such Loan. “Recurring Revenue Loan Deterioration Event”: With respect to a Recurring Revenue Loan, the occurrence of any of the following: (a) the Debt-to-Recurring Revenue Ratio for any Relevant Test Period (x) increases by 0.25x as compared to the Debt-to-Recurring Revenue Ratio calculated/reported on the date such Loan (i) was first acquired by the Borrower or (ii) if applicable, was most recently assigned a new Assigned Value by the Administrative Agent pursuant to a Value Adjustment Event and (y) is greater than 1.25x; (b) Recurring Revenue Loan Cash Liquidity Amount for any Relevant Test Period for such Recurring Revenue Loan (x) declines to less than or equal 80.0% of the amount calculated/reported on the date such Loan (i) was first acquired by the Borrower or (ii) if applicable, was most recently assigned a new Assigned Value by the Administrative Agent pursuant to a Value Adjustment Event or (y) the applicable Obligor of which lacks sufficient
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More Definitions of Recurring Revenue Loan Covenant Flip Scheduled Date

Recurring Revenue Loan Covenant Flip Scheduled Date means, with respect to any MRRL Asset, to the extent included in the Loan Agreement, as of its date of acquisition by the Borrower, the scheduled date upon which the covenants for such Loan Asset are to be replaced with traditional cash flow leverage lending covenants (such as those based on total leverage, senior leverage, and interest coverage) as specified in the original Loan Agreement for such Loan Asset.
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Related to Recurring Revenue Loan Covenant Flip Scheduled Date

  • Recurring Revenue Loan means an Eligible Loan Asset that is underwritten based on the Recurring Revenue of the Obligor, as determined by the Administrative Agent in its sole discretion after consultation with the Servicer and designated as such in the related Approval Notice.

  • Recurring Revenue With respect to any Recurring Revenue Loan, the meaning of “Recurring Revenue” or any comparable definition in the related Underlying Instruments relating to recurring maintenance or support revenues, subscription revenues, and recurring revenues attributable to software licensed or sold (excluding one-time license revenues) in the Underlying Instruments for such Loan.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Class A-1 Final Scheduled Payment Date means the Payment Date occurring in November 2022.

  • Scheduled Final Payment Date means, with respect to each Tranche of Securitization Bonds, the date when all interest and principal is scheduled to be paid with respect to that Tranche in accordance with the Expected Amortization Schedule, as specified in the Series Supplement. For the avoidance of doubt, the Scheduled Final Payment Date with respect to any Tranche shall be the last Scheduled Payment Date set forth in the Expected Amortization Schedule relating to such Tranche. The “last Scheduled Final Payment Date” means the Scheduled Final Payment Date of the latest maturing Tranche of Securitization Bonds.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Class B Final Scheduled Payment Date means the Payment Date occurring in June 2021.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • Final Scheduled Payment Date means the Class A-1 Final Scheduled Payment Date, the Class A-2a Final Scheduled Payment Date, the Class A-2b Final Scheduled Payment Date, the Class A-3 Final Scheduled Payment Date, the Class A-4 Final Scheduled Payment Date or the Class B Final Scheduled Payment Date, as the context requires.

  • Scheduled Payment Date means a date on which a payment or delivery is to be made under Section 2(a)(i) with respect to a Transaction.