S&P Weighted Average Rating Factor definition

S&P Weighted Average Rating Factor means the quotient equal to ‘A divided by B’, where: A = the sum of the products, for all Collateral Loans (excluding Defaulted Loans) of (i) the Principal Balance of the Collateral Loans and (ii) the S&P Rating Factor of the Collateral Loan; and B = the Aggregate Principal Balance of all Collateral Loans (excluding Defaulted Loans).

S&P Weighted Average Rating Factor. The number determined by: (a) summing the products of (i) the Principal Balance of each Collateral Obligation (excluding Defaulted Obligations and Equity Securities) multiplied by (ii) the S&P Rating Factor of such Collateral Obligation and (b) dividing such sum by the Principal Balance of all such Collateral Obligations.

S&P Weighted Average Rating Factor. As of any date of determination, the number equal to (A) the sum of the products, determined with respect to each Collateral Obligation with an S&P Rating of “CCC-” or higher, of (i) the S&P Rating Factor of such Collateral Obligation multiplied by (ii) the outstanding Principal Balance of such Collateral Obligation divided by (B) the aggregate outstanding Principal Balance on such date of all Collateral Obligations with an S&P Rating of “CCC-” or higher.

Examples of S&P Weighted Average Rating Factor in a sentence

• The value calculated by multiplying the Principal Balance for each S&P CLO Specified Asset by the absolute value of the difference between the S&P Rating Factor and the S&P Weighted Average Rating Factor, then summing the total for the portfolio, then dividing this result by the Aggregate Principal Balance of the S&P CLO Specified Assets.

• The S&P Weighted Average Rating Factor, the Default Rate Dispersion, the Obligor Diversity Measure, the Industry Diversity Measure, the Regional Diversity Measure and the S&P Weighted Average Life.

• The value calculated by multiplying the Principal Balance for each S&P CLO Specified Asset by the absolute value of the difference between the S&P Rating Factor for such S&P CLO Specified Asset and the S&P Weighted Average Rating Factor, then summing the total for the portfolio, then dividing this result by the Aggregate Principal Balance of the S&P CLO Specified Assets.

• Each of the S&P Default Rate Dispersion, S&P Weighted Average Rating Factor, S&P Industry Diversity Measure, S&P Obligor Diversity Measure, S&P Regional Diversity Measure and S&P Weighted Average Life.

• As of any date of determination, the number obtained by (a) summing the products for each Collateral Obligation (other than Defaulted Obligations) of (i) the absolute value of (x) the S&P Rating Factor of such Collateral Obligation minus(y) the S&P Weighted Average Rating Factor by (ii) the Principal Balance at such time of such Collateral Obligation and (b) dividing such sum by the Aggregate Principal Balance on such date of all Collateral Obligations (other than Defaulted Obligations).

More Definitions of S&P Weighted Average Rating Factor

S&P Weighted Average Rating Factor means, with respect to all Collateral Obligations with an S&P Rating of “CCC-” or higher, (A) the sum of the product of (i) the Principal Balance of each such Collateral Obligation and (ii) the S&P Rating Factor for such Collateral Obligation divided by (B) the aggregate principal balance for all such Collateral Obligations.

S&P Weighted Average Rating Factor. The meaning specified in Schedule 7.

S&P Weighted Average Rating Factor. The number determined by:

S&P Weighted Average Rating Factor means the value calculated by multiplying the Principal Balance for each S&P CLO Specified Asset by its S&P Global Ratings Factor, then summing the results of all S&P CLO Specified Assets, and then dividing this result by the Aggregate Principal Balance of the S&P CLO Specified Assets.

S&P Weighted Average Rating Factor. The quotient equal to ‘A divided by B’, where: A = the sum of the products, for all S&P CLO Specified Assets of (i) the principal balance of the Collateral Obligation and (ii) the S&P Rating Factor of the Collateral Obligation; and B = the Aggregate Principal Balance of all S&P CLO Specified Assets. “Sale”: The meaning specified in Section 5.17. “Sale Notice”: The meaning specified in Section 5.4. “Sale Proceeds”: All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII (or Article V, if applicable) less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator, the Loan Agent or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest and Principal Financed Capitalized Interest received in respect of such sale. “Scheduled Distribution”: With respect to any Collateral Obligation, each payment of principal and/or interest scheduled to be made by the related Obligor under the terms of such Collateral Obligation (determined in accordance with the assumptions specified in Section 1.3 hereof) after (a) in the case of the initial Collateral Obligations, the Closing Date or (b) in the case of Collateral Obligations added after the Closing Date, the related Cut-Off Date, as adjusted pursuant to the terms of the related Underlying Documents. “Second Lien Loan”: Any Loan or assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations) but which is subordinated (with respect to liquidation preferences with respect to pledged collateral) to a Senior Secured Loan of the Obligor; (b) is secured by a valid second-priority perfected security interest or lien in, to or on specified collateral (subject to customary exceptions for permitted Liens, including, without limitation, any tax liens) securing the Obligor’s obligations under the Second Lien Loan the value of which is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal or higher seniority secured by a lien or security interest in the same collateral and (...

S&P Weighted Average Rating Factor. As of any date of determination the number obtained by (a) summing the products for each Collateral Obligation (other than Defaulted Obligations) of (i) the outstanding principal balance on such date of such Collateral Obligation by (ii) the S&P Rating Factor of such Collateral Obligation and (b) dividing such sum by the aggregate outstanding principal balance on such date of all Collateral Obligations (other than Defaulted Obligations). "Sale": The meaning specified in Section 5.17(a) (Sale of Assets). "Sale Proceeds": All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with Article XII and the termination of any Hedge Agreement, in each case less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Collateral Trustee (other than amounts

S&P Weighted Average Rating Factor. The higher of the Xxxxx’x Weighted Average Rating Factor and the S&P Weighted Average Rating Factor shall be the Weighted Average Rating Factor of the Portfolio. Should either S&P or Xxxxx’x not assign a Public Rating for a Reference Obligation, the equivalent of the other rating agency’s Public Rating shall be substituted. If neither S&P nor Xxxxx’x assigned a Public Rating for a Reference Obligation, each such unrated Reference Obligation shall be deemed to have a Public Rating of “WR” by Xxxxx’x and a Public Rating of “NR” by S&P.