Successor Collateral Manager definition
Successor Collateral Manager has the meaning assigned to such term in Section 14.08(a).
Successor Collateral Manager. Defined in Section 6.12(a).
Successor Collateral Manager means a replacement Collateral Manager appointed in the manner and to the extent provided in the Collateral Management Agreement. “Syndicated Collateral Obligation” means any Collateral Obligation that (i) is Acquired by the Borrower at a price (calculated as of the date of acquisition or commitment to acquire by the Borrower) equal to or greater than 85.0% (expressed as a percentage of par of the related Collateral Obligation Notional Amount but excluding any accrued interest) and, (ii) (a) at the time of determination, (1) is a broadly syndicated commercial loan; (2) is secured by a pledge of collateral, which security interest is validly perfected and is a First Lien Collateral Obligation or a Second Lien Collateral Obligation; (3) has a collateral value or enterprise value securing such Loan Obligation (as determined in good faith by the Collateral Manager on or about the time of origination) that is equal to or in excess of (i) the outstanding principal balance of such Loan Obligation plus (ii) all other loans of equal or higher seniority secured by the same collateral; (4) has a senior facility size of $200,000,000 or greater and has an EBITDA for the prior twelve (12) calendar months of $50,000,000 or greater (af ter giving pro forma ef fect to any acquisition in connection therewith); (5) is rated by either S&P or ▇▇▇▇▇’▇ (or the obligor is rated by S&P or ▇▇▇▇▇’▇) at the time of Acquisition by the Borrower; and (6) has a LoanX liquidity score of 1-4 at the time of Acquisition; or (b) is designated as a Syndicated Collateral Obligation on Appendix C-2 on the Closing Date or is otherwise deemed to be a Syndicated Collateral Obligation by the Administrative Agent, in each case determined as of the Closing Date (or the date of Acquisition if later) by the Administrative Agent, provided that if a Collateral Obligation otherwise qualifies on its date of Acquisition as Syndicated Collateral Obligation except for prong (4) above later becomes in compliance with prong (4), the Administrative Agent, at the written request of the Collateral Manager, may reclassify such Collateral Obligation as
Examples of Successor Collateral Manager in a sentence
No such resignation shall become effective until a Successor Collateral Manager shall have assumed the responsibilities and obligations of the Collateral Manager in accordance with Section 11.09.
The indemnification obligations of the Successor Collateral Manager, upon becoming a Successor Collateral Manager, are expressly limited to those arising on account of its failure to act in good faith and with reasonable care under the circumstances.
More Definitions of Successor Collateral Manager
Successor Collateral Manager means a Collateral Manager appointed to replace the Collateral Manager pursuant to the provisions of this Agreement and which has the Dutch regulatory capacity to render cross border securities services into The Netherlands.
Successor Collateral Manager. Dock Street Capital Management LLC ▇▇▇-▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Westport, CT 06880 Phone: (▇▇▇) ▇▇▇-▇▇▇▇ Fax: (▇▇▇) ▇▇▇-▇▇▇▇ Attn: ▇▇▇▇▇ ▇▇▇▇▇▇
Successor Collateral Manager has the meaning assigned to such term in Section 11.09(a). “Taxes” has the meaning assigned to such term in Section 16.03(a). “Term Loan” hasand “Term Loans” have the meaningmeanings assigned to such termterms in Section 2.01. “Term SOFR” means for any calculation with respect to the Term LoanLoans determined by reference to the Term SOFR Reference Rate, the Term SOFR Reference Rate on the day (such day, the “Lookback Day”) that is one SOFR Business Day prior to the first day of each calendar month (and rounded in accordance with the Administrative Agent’s customary practice), as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Lookback Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the
Successor Collateral Manager has the meaning assigned to such term in Section 11.09(a). “Taxes” has the meaning assigned to such term in Section 16.03(a). “Tax Jurisdiction” means any of the Netherlands Antilles, Bermuda, the Cayman Islands, the British Virgin Islands, the Channel Islands, Jersey, the Isle of Man or the Bahamas; provided, in the case of an Obligor organized or incorporated in a Tax Jurisdiction, that in the Collateral Manager’s good faith estimate, a substantial portion of the assets, revenues or operations supporting the related Collateral Loan are directly or through subsidiaries located in, or are obligations of (i) Obligors organized or incorporated in the United States or Canada or (ii) Approved Foreign Obligors (other than those that constitute Tax Jurisdictions). “Term SOFR” means, for the applicable corresponding tenor,has the meaning provided in the definition of “Adjusted Term SOFR Rate.” “Term SOFR Administrator” means CBA (or a successor administrator of the Term SOFR Reference Rate, as selected by the Administrative Agent in its reasonable discretion). “Term SOFR Index Adjustment” means a percentage equal to (a) for a Tranche Period of one month, 0.11448%; and (b) for a Tranche Period of three months, 0.26161%. “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR that
Successor Collateral Manager has the meaning assigned to such term in Section 14.08(a). “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any taxing Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
Successor Collateral Manager has the meaning assigned to it in Section 14.07. “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “Term SOFR” means, for any calculation with respect to an Advance (other than an Advance bearing interest at the Base Rate), the Term SOFR Reference Rate for a tenor of three months on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to (a) with respect to the Interest Accrual Period in which the applicable Borrowing Date occurs, such Borrowing Date and (b) for each subsequent Interest Accrual Period, the commencement of such Interest Accrual Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; provided, further, that if Term SOFR determined as provided above (including pursuant to the proviso above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor. “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR. “Third Amendment Effective Date” means the effective date of Amendment No. 3 to this Agreement, such date being November 23, 2020. “Tranche Size” means, in respect of any Collateral Loan, the aggregate principal amount of all of the borrowing facilities available to the Obligor under the terms of the relevant Underlying Loan Agr...