S&P Additional Current Pay Criteria definition

S&P Additional Current Pay Criteria means criteria satisfied with respect to any Underlying Asset (other than a DIP Loan) if either (i)(A) the issuer of such Underlying Asset has made a Distressed Exchange Offer and such Underlying Asset is subject to the Distressed Exchange Offer or ranks equal to or higher in priority than the obligation subject to the Distressed Exchange Offer, (B) in the case of a Distressed Exchange Offer that is a repurchase of debt for Cash, the repurchased debt will be extinguished and (C) the Issuer does not hold any obligation of the issuer making the Distressed Exchange Offer that ranks lower in priority than the obligation subject to the Distressed Exchange Offer, or (ii) such Underlying Asset has a Current Market Value of at least 80% of its par value.
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S&P Additional Current Pay Criteria. Criteria satisfied with respect to any Collateral Obligation (other than a DIP Collateral Obligation) if either (i) the issuer of such Collateral Obligation has made an S&P Distressed Exchange Offer and the Collateral Obligation is already held by the Issuer and is subject to the S&P Distressed Exchange Offer or ranks equal to or higher in priority than the obligation subject to the S&P Distressed Exchange Offer, or (ii) such Collateral Obligation has a Market Value (determined solely for the purposes of this clause (ii), without taking into consideration clause (iii) of the definition of the term “Market Value”) of at least 80% of its par value.
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S&P Additional Current Pay Criteria. Criteria satisfied with respect to any Collateral Obligation (other than a DIP Loan) if either (i)(A) the issuer of such Collateral Obligation has made a Distressed Exchange Offer with respect to such Collateral Obligation or such Collateral Obligation ranks equal to or higher in priority than another obligation of such issuer that is subject to a distressed exchange offer by such issuer, (B) in the case of a Distressed Exchange Offer that is a repurchase of debt for cash, the repurchased debt will be extinguished and (C) the Issuer does not hold any obligation of the issuer making the Distressed Exchange Offer that ranks lower in priority than the obligation subject to the Distressed Exchange Offer, or (ii) such Collateral Debt Obligation has a Market Value of at least 80% of its par value.”
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More Definitions of S&P Additional Current Pay Criteria

S&P Additional Current Pay Criteria means criteria satisfied with respect to any Collateral Obligation (other than a DIP Collateral Obligation) if either (i) the issuer of such Collateral Obligation has made a Distressed Exchange Offer and the Collateral Obligation is already held by the Issuer and is subject to the Distressed Exchange Offer and ranks equal to or higher in priority than the obligation subject to the Distressed Exchange Offer, or (ii) such Collateral Obligation has a Market Value of at least 80% of its par value.
Sample 1
S&P Additional Current Pay Criteria. Criteria satisfied with respect to any Collateral Obligation (other than a DIP Collateral Obligation) if (i) the issuer of such Collateral Obligation has made an S&P Distressed Exchange Offer and the Collateral Obligation is already held by the Issuer and the Collateral Obligation ranks equal to or higher in priority than the obligation subject to the S&P Distressed Exchange Offer and (ii) (x) the S&P Rating of such Collateral Obligation is at least “CCC+” (and if “CCC+”, not on watch for downgrade) such Collateral Obligation has a Market Value of at least 80% of its par value or (y) such Collateral Obligation has a Market Value of at least 85% (without taking into consideration clause (E) of the definition of the term “Market Value”).
Sample 1
S&P Additional Current Pay Criteria. Criteria satisfied with respect to any Collateral Obligation (other than a DIP Collateral Obligation) if either (i) the issuer of such Collateral Obligation has made an S&P Distressed Exchange Offer and the Collateral Obligation is already held by the Issuer and is subject to the S&P Distressed Exchange Offer or ranks equal to or higher in priority than the obligation subject to the S&P Distressed Exchange Offer, or (ii) such Collateral Obligation has a Market Value of at least 80% of its par value.
Sample 1

Related to S&P Additional Current Pay Criteria

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Incremental Term Loan has the meaning set forth in Section 2.14(b).

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Eligible advance means an advance made before August 19, 1993.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Incremental Term Lender means a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term Loan.