Common use of Certain Duties of Trustee Related to Delayed Payment of Proceeds Clause in Contracts

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv), shall take such action as the Loan Obligation Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Manager requests a release of an Asset in connection with any such action under the Loan Obligation Management Agreement, such release shall be subject to Section 10.12 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Collateral Administrator provides the Trustee shall with notice that a payment with respect to any item of Collateral has not have been received a Scheduled Distributionon its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to y) the Trustee has received notice from the Collateral Manager that it is taking action in accordance with Section 10.2(a)respect of such payment, the Trustee shall request the issuer of or obligor on such item of such AssetCollateral, the trustee under the related Underlying Instrument or the paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of any Collateral and/or delivers an additional Portfolio Asset in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.6 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any additional Portfolio Asset or other Collateral received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral. The foregoing shall not preclude any other exercise of any right or remedy by the Issuer with respect to any default or event of default arising under a Portfolio Asset.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing or electronically and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such reasonable action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation or a Substitute Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation or Substitute Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets. Reasonably promptly after receipt thereof, the Trustee will notify and provide to the Collateral Manager on behalf of the Issuer a copy of any documents, financial reports, legal opinions or any other information including, without limitation, any notices, reports, requests for waiver, consent requests or any other requests or communications relating to the Assets or any Obligor or to actions affecting the Assets or any Obligor. Upon reasonable request by the Collateral Manager, the Trustee further agrees to provide to the Collateral Manager from time to time, on a timely basis, any information in its possession relating to the Collateral Obligations, the Equity Securities and the Eligible Investments as requested so as to enable the Collateral Manager to perform its duties hereunder or under the Collateral Management Agreement.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing or electronically and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such reasonable action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall determines based upon the information contained in the Monthly Report or information received from the Collateral Administrator that it has not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) ), after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Reference Instrument or paying agent Paying Agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of subclause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager shall reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.6 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall determines based upon the information contained in the Monthly Report or information received from the Collateral Administrator that it has not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Investment Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) ), after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Reference Instrument or paying agent Paying Agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of subclause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Investment Manager shall reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Investment Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Investment Management Agreement, such release shall be subject to Section 10.12 10.6 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets. Reasonably promptly after receipt thereof, the Trustee shall notify and provide to the Collateral Manager on behalf of the Issuer a copy of any documents, financial reports, legal opinions or any other information including, without limitation, any notices, reports, requests for waiver, consent requests or any other requests or communications relating to the Assets or any Obligor or to actions affecting the Assets or any Obligor. Upon reasonable request by the Collateral Manager, the Trustee further agrees to provide to the Collateral Manager from time to time, on a timely basis, any information in its possession relating to the Collateral Obligations, the Equity Securities and the Eligible Investments as requested so as to enable the Collateral Manager to perform its duties hereunder or under the Collateral Management Agreement.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing or electronically and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such reasonable action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an Additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any Additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation or a Substitute Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.6 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation or Substitute Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.11 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets. Reasonably promptly after receipt thereof, the Trustee will notify and provide to the Collateral Manager on behalf of the Issuer a copy of any documents, financial reports, legal opinions or any other information including, without limitation, any notices, reports, requests for waiver, consent requests or any other requests or communications relating to the Assets or any Obligor or to actions affecting the Assets or any Obligor. Upon reasonable request by the Collateral Manager, the Trustee further agrees to provide to the Collateral Manager from time to time, on a timely basis, any information in its possession relating to the Collateral Obligations, the Equity Securities and the Eligible Investments as requested so as to enable the Collateral Manager to perform its duties hereunder or under the Collateral Management Agreement.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(d), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.10 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(d), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.13 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Portfolio Manager in writing or electronically (if an e-mail address is provided) and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such reasonable action as the Loan Obligation Portfolio Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Portfolio Manager requests a release of a Pledged Obligation and/or delivers an Asset additional Collateral Obligation in connection with any such action under the Loan Obligation Portfolio Management AgreementAgreement or under this Indenture, such release shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled DistributionDistribution expected to be received by the Trustee or by the Trustee from the CDO Servicer on the expected remittance date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.15 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation or a Substitute Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.5 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation or Substitute Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Portfolio Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trusteeshall, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(d), shall take such action as the Loan Obligation Portfolio Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Portfolio Manager requests a release of a Pledged Obligation and/or delivers an Asset additional Collateral Obligation in connection with any such action under the Loan Obligation Portfolio Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such AssetCollateral, the trustee under the related Underlying Instrument Loan Document or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset Collateral in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.13 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Collateral received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of a Pledged Obligation and/or delivers an Asset additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or this Indenture, such release and/or substitution shall be subject to Section 10.12 10.8 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Portfolio Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Portfolio Manager (on behalf of the Issuer), request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Portfolio Manager reasonably (on behalf of the Issuer) shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Portfolio Manager (on behalf of the Issuer) requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Portfolio Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.7 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall receives notice from the Collateral Manager or the Collateral Administrator that a payment has not have been received a Scheduled Distributionwith respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing or electronically and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager shall reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of a Pledged Obligation and/or delivers an Asset additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.7 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation or a Substitute Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release and/or substitution shall be subject to Section 10.12 10.9 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation or Substitute Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets. Reasonably promptly after receipt thereof, the Trustee will notify and provide to the Collateral Manager on behalf of the Issuer a copy of any documents, financial reports, legal opinions or any other information including, without limitation, any notices, reports, requests for waiver, consent requests or any other requests or communications relating to the Assets or any Obligor or to actions affecting the Assets or any Obligor. Upon reasonable request by the Collateral Manager, the Trustee further agrees to provide to the Collateral Manager from time to time, on a timely basis, any information in its possession relating to the Collateral Obligations, the Equity Securities and the Eligible Investments as requested so as to enable the Collateral Manager to perform its duties hereunder or under the Collateral Management Agreement.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(d), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall 164 be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.10 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset in connection with any such action under the Loan Obligation Management Agreementthis Indenture, such release shall be subject to Section 10.12 and Article 12 10.9 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets. Reasonably promptly after receipt thereof, the Trustee will notify and provide to the Collateral Manager on behalf of the Issuer a copy of any documents, financial reports, legal opinions or any other information including, without limitation, any notices, reports, requests for waiver, consent requests or any other requests or communications relating to the Assets or any Obligor or to actions affecting the Assets or any Obligor. Upon reasonable request by the Collateral Manager or the Collateral Administrator, the Trustee further agrees to provide to the Collateral Manager from time to time, on a timely basis, any information in its possession relating to the Collateral Obligations, the Equity Securities and the Eligible Investments as requested so as to enable the Collateral Manager to perform its duties hereunder, under the Collateral Administration Agreement or under the Collateral Management Agreement.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall has not have received a Scheduled Distributionpayment with respect to any Pledged Interest on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three (3) Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, Issuer in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Interest, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three (3) Business Days after the date of such request; provided, however, that the Collateral Manager shall simultaneously receive a copy of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Interest in connection with any such action under the Loan Obligation Collateral Management Agreement, such release shall be subject to Section 10.12 10.6 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Interest received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and Section 10.2(a) and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Manager Master Servicer (or, with respect to any Collateral Interest that is a Specially Serviced Collateral Interest, the Special Servicer) in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, Trustee (or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a)), the Trustee Master Servicer or Special Servicer, as applicable, shall request the obligor of such Asset, the trustee under the related Underlying Instrument or the paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv), shall take such action as the Loan Obligation Manager Master Servicer (or, with respect to any Collateral Interest that is a Specially Serviced Collateral Interest, the Special Servicer) reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Manager Master Servicer or Special Servicer, as applicable, requests a release of an Asset in connection with any such action under the Loan Obligation Management Servicing Agreement, such release shall be subject to Section 10.12 10.11 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of a Pledged Obligation and/or delivers an Asset additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or this Indenture, such release and/or substitution shall be subject to Section 10.12 10.7 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall determines based upon the information contained in the Monthly Report or information received from the Collateral Administrator that it has not have received a Scheduled Distributionpayment with respect to any Pledged Obligation on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Investment Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) ), after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor issuer of such AssetPledged Obligation, the trustee under the related Underlying Reference Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of subclause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Investment Manager shall reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Investment Manager requests a release of an Asset a Pledged Obligation in connection with any such action under the Loan Obligation Investment Management Agreement, such release shall be subject to Section 10.12 10.6 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management AgreementAgreement or under this Indenture, such release shall be subject to Section 10.12 10.5 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument Document or a paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset in connection with any such action under the Loan Obligation Management Agreementthis Indenture, such release shall be subject to Section 10.12 and Article 12 10.10 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.such

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distributionpayment with respect to any Pledged Security on its Due Date and has actual knowledge that such payment was due to be made on such Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and and, (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or unless the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a10.03(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a10.03(a), or unless otherwise directed by the Collateral Manager in connection with any Pledged Security as to which the Collateral Manager is taking action under the Collateral Management Agreement, the Trustee shall request the obligor issuer of such AssetPledged Security, the trustee under the related Underlying Instrument Instruments, or the paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv6.01(c)(iv), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset a Pledged Security and/or delivers a Substitute Collateral Debt Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.03 and Article 12 of this IndentureXII, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset Pledged Security received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 6.12 and such payment shall not be deemed part of the AssetsCollateral.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month If the Trustee shall not have received a Scheduled Distributionpayment with respect to any Asset on its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or (y) the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall shall, not later than the Business Day immediately following the last day of such period and in any case upon request by the Collateral Manager, request the obligor issuer of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event not later than three Business Days after the date of such request. In the event that If such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that If the Issuer or the Loan Obligation Collateral Manager requests a release of an Asset and/or delivers an additional Collateral Obligation in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.7 and Article 12 XII of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset or any additional Collateral Obligation received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Collateral Administrator provides the Trustee shall with notice that a payment with respect to any item of Collateral has not have been received a Scheduled Distributionon its Due Date, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Collateral Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period or notice requirement for such payment, if longerany) after such notice (x) such payment shall have been received by the Trustee, Trustee or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to y) the Trustee has received notice from the Collateral Manager that it is taking action in accordance with Section 10.2(a)respect of such payment, the Trustee shall request the issuer of or obligor on such item of such AssetCollateral, the trustee under the related Underlying Instrument or the paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business Days after the date of such request, to the extent doing so would not violate any relevant insolvency or other applicable law. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of clause (iv) of Section 6.1(d)(iv6.1(c), shall take such action as the Loan Obligation Collateral Manager reasonably shall direct in writingdirect. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Collateral Manager requests a release of any Collateral and/or delivers an additional Portfolio Asset in connection with any such action under the Loan Obligation Collateral Management Agreement, such release and/or substitution shall be subject to Section 10.12 10.6 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any additional Portfolio Asset or other Collateral received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the AssetsCollateral. The foregoing shall not preclude any other exercise of any right or remedy by the Issuer with respect to any default or event of default arising under a Portfolio Asset.

Certain Duties of Trustee Related to Delayed Payment of Proceeds. In the event that in any month the Trustee shall not have received a Scheduled Distribution, (a) the Trustee shall promptly notify the Issuer and the Loan Obligation Manager in writing and (b) unless within three Business Days (or the end of the applicable grace period for such payment, if longer) after such notice such payment shall have been received by the Trustee, or the Issuer, in its absolute discretion (but only to the extent permitted by Section 10.2(a)), shall have made provision for such payment satisfactory to the Trustee in accordance with Section 10.2(a), the Trustee shall request the obligor of such Asset, the trustee under the related Underlying Instrument or paying agent designated by either of them, as the case may be, to make such payment as soon as practicable after such request but in no event later than three Business 111 Days after the date of such request. In the event that such payment is not made within such time period, the Trustee, subject to the provisions of Section 6.1(d)(iv), shall take such action as the Loan Obligation Manager reasonably shall direct in writing. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture. In the event that the Issuer or the Loan Obligation Manager requests a release of an Asset in connection with any such action under the Loan Obligation Management Agreement, such release shall be subject to Section 10.12 and Article 12 of this Indenture, as the case may be. Notwithstanding any other provision hereof, the Trustee shall deliver to the Issuer or its designee any payment with respect to any Asset received after the Due Date thereof to the extent the Issuer previously made provisions for such payment satisfactory to the Trustee in accordance with this Section 6.13 and such payment shall not be deemed part of the Assets.