Security Interest Failure. Any Lender fails for any reason to have a perfected security interest in any Collateral in accordance with the terms of the Security Agreement (provided that it will not be an Event of Default if such failure is a result of any action or inaction by (i) the Collateral Administrator and such failure is remedied within three (3) days after notice or (ii) the Administrative Agent); or
Appears in 2 contracts
Sources: Credit Agreement (Barings BDC, Inc.), Credit Agreement (Barings BDC, Inc.)
Security Interest Failure. Any Lender fails for any reason to have a perfected security interest in any Collateral in accordance with the terms of the Security Agreement (provided that it will not be an Event of Default if such failure is a result of any action or inaction by (i) the Collateral Administrator and such failure is remedied within three (3) days Business Days after notice or (ii) the Administrative Agent); or
Appears in 1 contract
Sources: Credit Agreement (Highland Floating Rate Opportunities Fund)