Traditional Middle Market Loan definition

Traditional Middle Market Loan means any Loan issued as part of a loan facility with an original loan size (including any first and second lien loans included in the facility) of $125,000,000 or less, including for purposes of this definition the maximum available amount of commitments under any Revolving Loans and Delayed Draw Term Loans.
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Traditional Middle Market Loan means a First Lien Loan that, as of any date of determination, is not a First Lien Broadly Syndicated Loan or a Unitranche Loan.
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Traditional Middle Market Loan means any Loan (other than a Broadly Syndicated Loan or a Large Middle Market Loan) that (i) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the Obligor in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (ii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens described in clause (b) (other than clause (v) thereof) of the definition of Permitted Liens), and (iii) a Borrower or the Collateral Manager determines in good faith that the value of the collateral securing such Loan (or the enterprise value of the underlying business) on or about the time of origination equals or exceeds the outstanding principal balance of such Loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by the same collateral.
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More Definitions of Traditional Middle Market Loan

Traditional Middle Market Loan means any Loan Asset (other than a Broadly Syndicated Loan or a Large Middle Market Loan) that (i) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the Obligor in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (ii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens described in clause (b) (other than clause (v) thereof) of the definition of Permitted Liens), and (iii) a Borrower or the Collateral Manager determines in good faith that the value of the collateral securing such Loan Asset (or the enterprise value of the underlying business) on or about the time of origination equals or exceeds the outstanding principal balance of such Loan Asset plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by the same collateral.
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Traditional Middle Market Loan. Any Loan Asset that (i) does not otherwise meet the definition of “Broadly Syndicated Loan” or “Large Middle Market Loan,” (ii) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the Obligor, in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (iii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable and customary for similar loans, and liens accorded priority by law in favor of the United States or any state or agency) and (iv) the Servicer determines in good faith that the value of the collateral securing the loan or the enterprise value of the related Obligor on or about the time of origination equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal seniority secured by the same collateral.
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Traditional Middle Market Loan. Any commercial loan that (i) meets the definition of “Broadly Syndicated Loan” other than with respect to clauses (i), (v), and (vi) of the definition thereof and (ii) does not meet the definition of “Large Middle Market Loan”.
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Traditional Middle Market Loan. A Loan that, as of the date the Borrower acquires such Loan, (i) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the related Obligor (except with respect to liquidation preferences, if any, for trade claims, working capital facilities, purchase money indebtedness, capitalized leases and other similar obligations in respect of certain specified pledged collateral, if any) in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (ii) is secured by a validly perfected and first priority Lien under Applicable Law (subject to Liens permitted by the applicable Underlying Instrument as of the date of the related Approval Notice and Xxxxx accorded priority by law in favor of the United States or any State or agency), and (iii) has a value of collateral, as determined in good faith by the Servicer, securing such Loan which, together with other attributes of the related Obligor (including its enterprise value), equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding principal balances of all other loans of equal or higher seniority secured by the same collateral; provided that a First Lien Last Out Loan shall not constitute a Traditional Middle Market Loan unless the Administrative Agent, in its sole discretion, designates a Loan that would otherwise constitute a First Lien Last Out Loan as a Traditional Middle Market Loan; provided, further, that if such Loan meets the definition of “Broadly Syndicated Loan”, such Loan will have the designation set forth on the related Approval Notice.
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Traditional Middle Market Loan means any First Lien Loan with respect to which the TTM EBITDA of the related Obligor is equal to or greater than $25,000,000 but less than $50,000,000.
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Traditional Middle Market Loan. A Loan that, as of the date the Borrower acquires such Loan, (i) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the related Obligor (except with respect to liquidation preferences, if any, for trade claims, working capital facilities, purchase money indebtedness, capitalized leases and other similar obligations in respect of certain specified pledged collateral, if any) in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (ii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens permitted by the applicable Underlying Instruments as of the date of the related Approval Notice and Liens accorded priority by law in favor of the United States or any State or agency), and (iii) has a value of collateral, as determined in good faith by the Collateral Manager, securing such Loan which, together with other attributes of the related Obligor (including its enterprise value), equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding principal balances of all other loans of equal or higher seniority secured by the same collateral.
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Related to Traditional Middle Market Loan

  • Large group market means the health insurance market under which individuals obtain health

  • Competitive Local Exchange Carrier (CLEC) means a telephone company certificated by the Commission to provide local Exchange Service within AT&T-21STATE’s franchised area.

  • Approved Stock Exchange means the New York Stock Exchange, NASDAQ or such other stock exchange in the United States of America, the United Kingdom or Hong Kong as is approved in writing by the Facility Agent or, in each case, any successor thereto.

  • Small group market means the health insurance market under which individuals obtain health

  • Competitive Local Exchange Carrier (CLEC) means any company or person authorized to provide local exchange services in competition with an ILEC.

  • Multi-Exchange Index , if applicable, means each Reference Item specified under the heading "Underlying" in the Product Terms to be a Multi-Exchange Index.

  • Stock Market means a market, or other place at which, or a facility by means of which—

  • Mid-Market Swap Rate means for any Reset Period the mean of the bid and offered rates for the fixed leg payable with a frequency equivalent to the frequency with which scheduled interest payments are payable on the Notes during the relevant Reset Period (calculated on the day count basis customary for fixed rate payments in the Relevant Currency as determined by the Calculation Agent) of a fixed-for-floating interest rate swap transaction in the Relevant Currency which transaction (i) has a term equal to the relevant Reset Period and commencing on the relevant Reset Date, (ii) is in an amount that is representative for a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the Mid-Swap Floating Leg Benchmark Rate for the Mid-Swap Maturity (calculated on the day count basis customary for floating rate payments in the Relevant Currency as determined by the Calculation Agent);

  • Peak Market Activity means a measure of exposure for which credit is required, involving peak exposures in rolling three-week periods over a year timeframe, with two semi-annual reset points, pursuant to provisions of Tariff, Attachment Q, section V.A. Peak Market Activity shall exclude FTR Net Activity, Virtual Transactions Net Activity, and Export Transactions Net Activity. Peak Season:

  • Stock Exchange The Stock Exchange of Hong Kong Limited

  • Applicable Market Value has the meaning specified in Section 5.1.

  • the London Stock Exchange means London Stock Exchange plc;

  • Day-ahead Scheduling Reserves Market means the schedule of commitments for the purchase or sale of Day-ahead Scheduling Reserves developed by the Office of the Interconnection as a result of the offers and specifications submitted in accordance with Operating Agreement, Schedule 1, section 1.10 and the parallel provisions of Tariff, Attachment K-Appendix.

  • Recognised Investment Exchange means a recognised investment exchange as defined by section 285 of the Financial Services and Markets Xxx 0000;

  • Eligible Market means The New York Stock Exchange, the NYSE Amex, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the Principal Market.

  • Open Market Sale Agreement is a service mark of Xxxxxxxxx LLC

  • Relevant Stock Exchange for the Fund means the primary exchange or quotation system on which shares (or other applicable securities) of the Fund are traded, as determined by the Calculation Agent.

  • Liquid Market means a market for a financial instrument or a class of financial instruments, where there are ready and willing buyers and sellers on a continuous basis, assessed in accordance with the following criteria, taking into consideration the specific market structures of the particular financial instrument or of the particular class of financial instruments:

  • London Stock Exchange means London Stock Exchange plc;

  • Alternative Stock Exchange means at any time, in the case of the Ordinary Shares, if they are not at that time listed and traded on the ASX, the principal stock exchange or securities market on which the Ordinary Shares are then listed or quoted or dealt in;

  • Day-Ahead Market has the meaning set forth in the CAISO Tariff.

  • Secondary Market Transaction has the meaning set forth in Section 5.5.

  • Primary Market means on any of (a) the American Stock Exchange, (b) New York Stock Exchange, (c) the Nasdaq Global Select Market, (d) the Nasdaq Global Market, (e) the Nasdaq Capital Market, or (e) the Over-the-Counter Bulletin Board (“OTCBB”)

  • Pink OTC Markets means the OTC Markets Group Inc. electronic inter-dealer quotation system, including OTCQX, OTCQB and OTC Pink.

  • Mid-Market Swap Rate Quotation means a quotation (expressed as a percentage rate per annum) for the relevant Mid-Market Swap Rate;

  • Nasdaq Stock Market means The Nasdaq Stock Market, Inc.