Initial Collateral Obligations. Each Loan owned by the Borrower on the initial Borrowing Date complies with the criteria set forth in the definition of “Collateral Obligation”.
Initial Collateral Obligations. Each loan, debt obligation, or Participation Interest owned by the Borrower on the Closing Date complies with the criteria set forth in the definition of “Collateral Obligation”.
Initial Collateral Obligations. Each loan or debt obligation sold and/or contributed by the Collateral Manager to the Borrower on or before the Closing Date complies with the criteria set forth in the definition of “Collateral Obligation”.
