Common use of Clean-Up Call Redemption Clause in Contracts

Clean-Up Call Redemption. (a) The Debt is redeemable (or, in the case of the Class A-2 Loans and the Class B Loans, prepayable) at the option of the Issuer acting at the direction of the Collateral Manager (which direction shall (x) be given so as to be received by the Issuer and the Collateral Trustee not later than 10 days prior to the proposed Clean-up Call Redemption Date and (y) include the Clean-up Call Redemption Date and the Redemption Prices of the Secured Debt to be redeemed or prepaid, as applicable, and, in the case of the Subordinated Notes, an estimate of the Redemption Price), in whole but not in part (a “Clean-up Call Redemption”), at the applicable Redemption Price, on any Business Day selected by the Collateral Manager (such Business Day, the “Clean-up Call Redemption Date”) which occurs on or after the Payment Date on which the Aggregate Principal Balance of the Collateral Obligations and Eligible Investments is less than or equal to 15% of the Target Initial Par Amount. In such event a notice of redemption shall be given not later than five Business Days prior to the applicable Clean-up Call Redemption Date, to each Holder of Debt, at such Holder’s address in the Register or the Loan Register, as applicable, and, as specified in Section 14.3 (

Appears in 1 contract

Sources: Indenture and Security Agreement (Varagon Capital Corp)

Clean-Up Call Redemption. (a) The Debt is redeemable (or, in the case of the Class A-2 Loans and the Class B A-1 Loans, prepayable) at the option of the Issuer Applicable Issuer(s) acting at the direction of the Collateral Manager (which direction shall (x) be given so as to be received by the Issuer and the Collateral Trustee not later than 10 ten days prior to the proposed Clean-up Call Redemption Date and (y) include the Clean-up Call Redemption Date and the Redemption Prices of the Secured Debt to be redeemed or (or, in the case of the Class A-1 Loans, prepaid, as applicable, ) and, in the case of the Subordinated Notes, an estimate of the Redemption Price), in whole but not in part (a "Clean-up Call Redemption"), at the applicable Redemption Price, on any Business Day Payment Date selected by the Collateral Manager (such Business DayPayment Date, the "Clean-up Call Redemption Date") which occurs on or after the Payment Date on which the Aggregate Principal Balance of the Collateral Obligations and Eligible Investments is less than or equal to 1520% of the Target Initial Par Amount. Amount In such event a notice of redemption (or, in the case of the Class A-1 Loans, prepayment) shall be given by first class mail, postage prepaid, mailed not later than five (5) Business Days prior to the applicable Clean-up Call Redemption Date, to each Holder of Debt, at such Holder’s 's address in the Register or the Loan Register, as applicable, and, as specified in Section 14.3 (

Appears in 1 contract

Sources: Indenture (Barings Private Credit Corp)

Clean-Up Call Redemption. (a) The Debt is Notes are redeemable (or, in the case of the Class A-2 Loans and the Class B Loans, prepayable) at the option of the Issuer Applicable Issuer(s) acting at the direction of the Collateral Manager (which direction shall (x) be given so as to be received by the Issuer and the Collateral Trustee not later than 10 ten days prior to the proposed Clean-up Call Redemption Date and (y) include the Clean-up Call Redemption Date and the Redemption Prices of the Secured Debt Notes to be redeemed or prepaid, as applicable, and, in the case of the Subordinated Notes, an estimate of the Redemption Price), in whole but not in part (a "Clean-up Call Redemption"), at the applicable Redemption Price, on any Business Day Payment Date selected by the Collateral Manager (such Business DayPayment Date, the "Clean-up Call Redemption Date") which occurs on or after the Payment Date on which the Aggregate Principal Balance of the Collateral Obligations and Eligible Investments is less than or equal to 1520% of the Target Initial Par Amount. Amount In such event a notice of redemption shall be given by first class mail, postage prepaid, mailed not later than five (5) Business Days prior to the applicable Clean-up Call Redemption Date, to each Holder of DebtNotes, at such Holder’s 's address in the Register or the Loan Register, as applicable, and, as specified in Section 14.3 (

Appears in 1 contract

Sources: Indenture (Barings Private Credit Corp)

Clean-Up Call Redemption. (a) The Debt is redeemable (or, in the case of the Class A-2 Loans and the Class B Loans, prepayable) at the option of the Issuer Applicable Issuer(s) acting at the direction of the Collateral Manager (which direction shall (x) be given so as to be received by the Issuer and the Collateral Trustee not later than 10 ten days prior to the proposed Clean-up Clean‑up Call Redemption Date and (y) include the Clean-up Clean‑up Call Redemption Date and the Redemption Prices of the Secured Debt to be redeemed or (or, in the case of the Class A-2 Loans, prepaid, as applicable, ) and, in the case of the Subordinated Notes, an estimate of the Redemption Price), in whole but not in part (a “Clean-up Clean‑up Call Redemption”), at the applicable Redemption Price, on any Business Day Payment Date selected by the Collateral Manager (such Business DayPayment Date, the “Clean-up Clean‑up Call Redemption Date”) which occurs on or after the Payment Date on which the Aggregate Principal Balance of the Collateral Obligations and Eligible Investments is less than or equal to 1520% of the Target Initial Par Amount. In such event a notice of redemption (or, in the case of the Class A-2 Loans, prepayment) shall be given by first class mail, postage prepaid, mailed not later than five (5) Business Days prior to the applicable Clean-up Clean‑up Call Redemption Date, to each Holder of Debt, at such Holder’s address in the Register or the Loan Register, as applicable, and, as specified in Section 14.3 (

Appears in 1 contract

Sources: Indenture (Barings Private Credit Corp)