Trading Gains. With respect to any Collateral Obligation which is repaid, prepaid, redeemed or sold, an amount equal to any excess of (a) the Principal Proceeds or the Sale Proceeds, as applicable, received in respect thereof over (b) an amount equal to the greater of (1) the principal balance thereof (where for such purpose “principal balance” shall be equal to the value assigned to such Collateral Obligation for purposes of determining the Collateral Principal Amount for purposes of the definition of EU/UK Retained Interest) and (2) the purchase price thereof (expressed as a percentage of par) multiplied by the principal balance (where for such purpose “principal balance” shall be equal to the value assigned to such Collateral Obligation for purposes of determining the Collateral Principal Amount for purposes of the definition of EU/UK Retained Interest), in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Collateral Obligation, any interest accrued but not paid thereon which has not been capitalized as principal and included in the sale price thereof.
Trading Gains means in respect of any Portfolio Collateral which is repaid, prepaid, redeemed or sold, the excess (if any) of (a) the Principal Proceeds received in respect thereof over (b) the purchase price thereof paid by or on behalf of the Issuer for such Portfolio Collateral, in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Portfolio Collateral, any interest accrued but not paid thereon.
Trading Gains. In respect of any Collateral Obligation which is repaid, prepaid, redeemed or sold, any excess of (a) the Principal Proceeds and Sale Proceeds received in respect thereof over (b) the greater of (1) the principal balance thereof (where for such purpose “principal balance” shall be determined as set out in the definition of Retention Basis Amount) and (2) an amount equal to the purchase price thereof (expressed as a percentage of par) multiplied by the principal balance (where for such purpose “principal balance” shall be determined as set out in the definition of Retention Basis Amount), in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Collateral Obligation, any interest accrued but not paid thereon which has not been capitalized as principal and included in the sale price thereof.
Examples of Trading Gains in a sentence
Such Trading Gains will then be distributed as Interest Proceeds if the reinvestment of such amount would, in the sole discretion of the Collateral Manager, cause (or would be likely to cause) a Retention Deficiency in accordance with the Priorities of Payment.
Such Trading Gains will then be distributed as Interest Proceeds in accordance with the Priorities of Payment.
As a result, such Trading Gains would not be available to be reinvested in Collateral Obligations and therefore the Aggregate Principal Balance of Collateral Obligations securing the Notes may be less than what would have otherwise been the case if such amounts had been reinvested in Collateral Obligations.
Such Trading Gains will then be distributed as Interest Proceeds if the reinvestment of such amount would, in the sole discretion of the Portfolio Manager, cause (or would be likely to cause) a Retention Deficiency in accordance with the Priorities of Payment.
Such Trading Gains will then be distributed as Interest Proceeds in accordance with the Priorities of Payments.
More Definitions of Trading Gains
Trading Gains. With respect to any Collateral Obligation which is repaid, prepaid, redeemed or sold, an amount equal to any excess of (a) the Principal Proceeds or the Sale Proceeds, as applicable, received in respect thereof over (b) an amount equal to the greater of (1) the principal balance thereof (where for such purpose “principal balance” shall be determined giving effect to clauses (a) through (c) of the definition of Retention Basis Amount) and (2) the purchase price thereof (expressed as a percentage of par) multiplied by the principal balance (where for such purpose “principal balance” shall be determined giving effect to clauses (a) through (c) of the definition of Retention Basis Amount), in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Collateral Obligation, any interest accrued but not paid thereon which has not been capitalized as principal and included in the sale price thereof.
Trading Gains means the net capital gains or ordinary income for federal income Tax purposes as a result of discretionary trading (including constructive sale transactions) by an Acquired Company in the secondary market (including privately negotiated transactions) with respect to stocks, derivatives, bonds, notes, debentures, mortgage loans, collateral loans and all other instruments of indebtedness or equity held by such Acquired Company in its general account; provided, that Trading Gains shall not include capital gains or ordinary income arising in respect of (a) any disposition of assets identified pursuant to Section 8.12 or Section 8.13, (b) any disposition of assets occurring in connection with a Seller’s Transaction, (c) any Approved Trades,
Trading Gains. In respect of any Collateral Obligation which is repaid, prepaid, redeemed or sold, any excess of (a) the Principal Proceeds or Sale Proceeds received in respect thereof over (b) the Principal Balance thereof (where for such purpose “Principal Balance” shall be determined as set out in the definition of “Retention Basis Amount”), in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Collateral Obligation, any interest accrued but not paid thereon which has not been capitalized as principal and included in the sale price thereof.
Trading Gains means the net capital gains or ordinary income for federal income Tax purposes as a result of discretionary trading (including constructive sale transactions) by an Acquired Company in the secondary market (including privately negotiated transactions) with respect to stocks, derivatives, bonds, notes, debentures, mortgage loans, collateral loans and all other instruments of indebtedness or equity held by such Acquired Company in its general account; provided, that Trading Gains shall not include capital gains or ordinary income arising in respect of (a) any disposition of assets identified pursuant to Section 8.12 or Section 8.13, (b) any disposition of assets occurring in connection with a Seller’s Transaction, (c) any Approved Trades, (d) any disposition in response to a tender or other pre-payments for any such stock, derivative, bond, note, debenture, mortgage loan, collateral loan or other instrument of indebtedness, (e) interests in any partnership or limited liability company treated as a partnership for federal income Tax purposes or any direct debt or equity co-investments related thereto (other than capital gains arising from the sale of such interests) and (f) derivatives held by such Acquired Company in its general account to hedge risks with respect to Separate Accounts, including the Gemini Hedge Agreements.
Trading Gains means, with respect to any Loan Asset which is repaid, prepaid, redeemed or sold, an amount equal to any excess of (a) the Principal Collections or proceeds of any sales, as applicable, received in respect thereof over (b) an amount equal to the greater of (1) the Outstanding Balance thereof and (2) the purchase price thereof (expressed as a percentage of par) multiplied by the Outstanding Balance, in each case net of (i) any expenses incurred by the Borrower in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Loan Asset, any interest accrued but not paid thereon which has not been capitalized as principal and included in the sale price thereof.
Trading Gains. The amount (if positive) equal to the clean sale price minus the clean purchase price upon the sale of a Collateral Debt Obligation (each expressed as a percentage of par) multiplied by the notional amount of such Collateral Debt Obligation at the time of sale. For the avoidance of doubt, Trading Gains will be applied to offset any Trading Losses. For purposes of this definition, a “clean” price with respect to a Collateral Debt Obligation means a price that does not include any accrued and unpaid interest on such Collateral Debt Obligation.
Trading Gains. In respect of any Collateral Obligation that is repaid, prepaid, redeemed or sold, any excess of (a) the Principal Proceeds received in respect thereof over (b) the greater of (1) the Principal Balance thereof (where for such purpose “Principal Balance” shall be determined as set out in the definition of Retention Basis Amount) and (2) an amount equal to the purchase price thereof (expressed as a percentage of par) multiplied by the Principal Balance (where for such purpose “Principal Balance” shall be determined as set out in the definition of Retention Basis Amount), in each case net of (i) any expenses incurred in connection with any repayment, prepayment, redemption or sale thereof, and (ii) in the case of a sale of such Collateral Obligation, any interest accrued but not paid thereon that has not been capitalized as principal and included in the sale price thereof.