Common use of Calculation Procedures Clause in Contracts

Calculation Procedures. (a) Except as expressly provided herein, for purposes of calculating compliance with any test under this Agreement in connection with the acquisition or disposition of a Loan Asset or Permitted Investment, the trade date (and not the settlement date) with respect to any such Loan Asset or Permitted Investment under consideration for acquisition or disposition shall be used to determine whether such acquisition or disposition is permitted hereunder; provided that (i) for purposes of Section 2.01(a), (x) no asset shall be included in the Borrowing Base as an Eligible Loan Asset to the extent the settlement date has not occurred and (y) all Advances requested to be made on any Advance Date plus the balance of all unfunded Advances to be made in connection with the Borrower’s purchase of previously requested (and approved, if applicable) Eligible Loan Assets will be treated as having been made and (ii) any Loan Asset that has not settled within 45 days of the related trade date shall have an Assigned Value of zero until such settlement occurs. (b) Except as expressly set forth herein and subject to the proviso in clause (a) above, for purposes of calculating the Concentration Limits, the trade date (and not the settlement date) with respect to each Loan Asset shall be used for such calculation. (c) All determinations of the Concentration Limits shall be determined in good faith by the Servicer subject to the ability of the Administrative Agent to object to such determination. In the event the Administrative Agent objects to such calculation, the Administrative Agent and the Servicer shall work in good faith to determine the Concentration Limits.