S&P Collateral Value definition

S&P Collateral Value. With respect to any Defaulted Obligation or Long Dated Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation or Long Dated Obligation, as applicable, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation or Long Dated Obligation, as applicable, as of the relevant Measurement Date.

S&P Collateral Value means in the case of any Collateral Debt Obligation which is a Defaulted Obligation the lower of:

S&P Collateral Value means, in the case of any Collateral Debt Obligation or Eligible Investment the lower of:

Examples of S&P Collateral Value in a sentence

• For any Defaulted Obligation, the lesser of the (i) S&P Collateral Value of such Defaulted Obligation and (ii) Moody’s Collateral Value of such Defaulted Obligation; provided that the Defaulted Obligation Balance will be zero if the Issuer has owned such Defaulted Obligation for more than three years after its default date.

• For any Defaulted Obligation, the lower of the S&P Collateral Value and the Fitch Collateral Value of such Defaulted Obligation; provided that the Defaulted Obligation Balance will be zero if the Issuer has owned such Defaulted Obligation for more than three years after its default date.

• An amount, as of any Determination Date, equal to the greater of (a) zero and (b)(i) the Collateral Principal Amount (provided, that the Principal Balance of any Defaulted Obligation shall be the lesser of its S&P Collateral Value or Moody's Collateral Value) less (ii) the Reinvestment Target Par Balance.

• As of any date of determination, the Collateral Principal Amount (calculated without including the Aggregate Principal Balance of any Defaulted Obligations) plus the S&P Collateral Value of all Defaulted Obligations that have been Defaulted Obligations for less than three years.

• For any Defaulted Obligation, the lesser of the (i) S&P Collateral Value of such Defaulted Obligation and (ii) Moody’sFitch Collateral Value of such Defaulted Obligation; provided that the Defaulted Obligation Balance will be zero iffor any Defaulted Obligation which the Issuer has owned such Defaulted Obligation for more than three years after its default dateduring which such Collateral Obligation was at all times a Defaulted Obligation.

More Definitions of S&P Collateral Value

S&P Collateral Value. With respect to any Defaulted Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation as of the relevant date of determination and (ii) the Market Value of such Defaulted Obligation as of the relevant date of determination.

S&P Collateral Value means with respect to any Defaulted Loan or PIKing Loan, the lesser of (i) the S&P Recovery Amount of such Defaulted Loan or PIKing Loan, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Loan or PIKing Loan, as of the relevant Measurement Date.

S&P Collateral Value means, as of any date of determination, with respect to any Defaulted Obligation and Deferred Interest Asset, (i) as of any date during the first 30 days in which the obligation is a Defaulted Obligation or a Deferred Interest Asset, the S&P Recovery Amount of such Defaulted Obligation or Deferred Interest Asset and (ii) as of any date after the first 30 days in which the obligation is a Defaulted Obligation or a Deferred Interest Asset, the lesser of (a) the S&P Recovery Amount of such Defaulted Obligation or Deferred Interest Asset, respectively, as of the relevant date of determination and (b) the Principal Balance of such Defaulted Obligation or such Deferred Interest Asset as of such date multiplied by the Current Market Value Percentage thereof as of the most recent Measurement Date.

S&P Collateral Value. With respect to any Defaulted Obligation, Deferring Obligation, Workout Loan, Long Dated Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation, Deferring Obligation, Workout Loan or Long Dated Obligation, respectively, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation, Deferring Obligation, Workout Loan or Long Dated Obligation, respectively, as of the relevant Measurement Date.

S&P Collateral Value means in the case of any Collateral Debt Security which is a Defaulted Security the lower of:

S&P Collateral Value. With respect to any Defaulted Obligation, Deferring Obligation or Restructuring Loan, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation, Deferring Obligation or Restructuring Loan, respectively, as of the relevant date of determination and (ii) the Market Value of such Defaulted Obligation, Deferring Obligation or Restructuring Loan, respectively, as of the relevant date of determination.

S&P Collateral Value means, as of any date of determination, with respect to any Defaulted Obligation and Deferred Interest Asset, the lesser of (a) the S&P Recovery Amount of such Defaulted Obligation or Deferred Interest Asset, respectively, as of the relevant date of determination and (b) the Principal Balance of such Defaulted Obligation or such DeferredInterest Asset as of such date multiplied by the Current Market Value Percentage thereof as of the most recent Measurement Date.