Specified Loan Asset means “(a) a Relevant Loan Asset; and (b) a Relevant Loan Asset as defined in the English Assignment and Assumption Deed”;
Specified Loan Asset means (i) with respect to any Liquid Credit Loan Asset, any Eligible Loan Asset that satisfies the conditions set forth in “Specified Loan Asset (Liquid Credit)” as of the applicable Cut-Off Date and (ii) with respect to any Private Credit Loan Asset, any Eligible Loan Asset that satisfies the conditions set forth in “Specified Loan Asset (Private Credit)” as of the applicable Cut-Off Date.
Specified Loan Asset means any Loan Asset that meets the following criteria as of the applicable Cut-Off Date: Minimum EBITDA for the Relevant Test Period most recently ended prior to the applicable Cut-Off Date: $25,000,000 Senior Leverage Ratio for the Relevant Test Period most recently ended prior to the applicable Cut-Off Date is less than: 6.00:1.00 Minimum Cash Interest Coverage Ratio for the Relevant Test Period most recently ended prior to the applicable Cut-Off Date: 1.50:1.00
Examples of Specified Loan Asset in a sentence
The Administrative Agent shall have provided an Approval Notice to the Borrower for each of the Eligible Loan Assets (other than a Specified Loan Asset) identified in the applicable Loan Asset Schedule for inclusion in the Collateral on the applicable Advance Date.
More Definitions of Specified Loan Asset
Specified Loan Asset means any Eligible Loan Asset that satisfies the conditions set forth below as of the applicable Cut-Off Date: Asset Type: First Lien Loan Minimum EBITDA: 7,500,000 If EBITDA ≥ $10,000,000, Senior Leverage Ratio of less than: 6.00:1.00 If $7,500,000 ≤ EBITDA < $10,000,000, Senior Leverage Ratio of less than: 4.75:1.00 If EBITDA ≥ $10,000,000, Equity Cushion of greater than: 30% If $7,500,000 ≤ EBITDA < $10,000,000, Equity Cushion of greater than: 40% Maximum EBITDA Adjustments Percentage of less than: 30% Minimum Cash Interest Coverage Ratio: 2:00:1:00 Origination Date: after July 31, 2020
Specified Loan Asset means an Eligible Loan Asset that is a Private Credit Loan Asset and satisfies the following conditions as of the applicable Cut-Off Date: Maximum Obligor Limit 4%
Specified Loan Asset means any Eligible Loan Asset that is a Private Credit Loan Asset and that meets the following criteria as of the applicable Cut-Off Date: Loan Type: First Lien Loan or Unitranche Loan Minimum EBITDA: $40,000,000 Maximum EBITDA Adjustments Percentage of less than: 30.0% Origination Date: No more than twelve (12) months prior to the date such Loan Asset has been sold, contributed or transferred to the Borrower Senior Leverage Ratio of less than or equal to: 6.00:1.00 Minimum Cash Interest Coverage Ratio: 1.75:1.00 Equity Cushion of greater than: 40.0% Maximum Obligor Limit: 5% of Concentration Denominator Excluded Loan Assets: Broadly Syndicated Loans, PIK Loan Assets Minimum Purchase Price: 95.0% Industry Classification: Cannot be in a Specified Industry
Specified Loan Asset means any Eligible Loan Asset that meets the following criteria as of the applicable Cut-Off Date: |US-DOCS\148390876.14||
Specified Loan Asset means any Eligible Loan Asset that satisfies the conditions set forth below as of the applicable Cut-Off Date: Asset Type: First Lien Loan and Unitranche Loan Minimum EBITDA: $7,500,000 If EBITDA ≥ $10,000,000, Senior Leverage Ratio of less than: 6.00:1.00 If $7,500,000 ≤ EBITDA < $10,000,000, Senior Leverage Ratio of less than: 4.75:1.00 If EBITDA ≥ $10,000,000, Equity Cushion of greater than: 30% If $7,500,000 ≤ EBITDA < $10,000,000, Equity Cushion of greater than: 40% Maximum EBITDA Adjustments Percentage of less than: 30% Minimum Cash Interest Coverage Ratio: 2.001.75:1:00 Origination Date: No more than twelve (12) months prior to the date such Loan Asset has been sold, contributed or transferred to the Borrower Minimum Cash CouponSpread for PIK Loan Asset: 5% paid at least quarterly
Specified Loan Asset means any Eligible Loan Asset that satisfies the conditions set forth below as of the applicable Cut-Off Date: Asset Type: First Lien Loan, Unitranche Loan Minimum EBITDA: $25,000,000 Minimum EBITDA for Cov-Lite Loan Asset: $50,000,000 Total Leverage Ratio of less than: 6.00:1.00 Equity Cushion of greater than: 40% Maximum EBITDA Adjustments Percentage of less than: 30% Minimum Cash Interest Coverage Ratio: 1.75:1:00 Minimum Purchase Price: 95% Origination Date: No more than nine (9) months prior to the date such Loan Asset has been sold, contributed or transferred to the Borrower Excluded Loan Assets: Broadly Syndicated Loans, PIK Loan Assets, Loan Assets in any Specified Industry
Specified Loan Asset means any Loan Asset designated by the Servicer as a Specified Loan Asset and that qualifies as Broadly Syndicated Loan, as of the applicable Cut-Off Date, and such Loan Asset has a Specified Rating of “B-” or better (or the equivalent for such Approved Rating Agency).