Workout Loans. Notwithstanding the foregoing, the Issuer may acquire a Workout Loan at any time during or after the Reinvestment Period from Interest Proceeds (including Contributions designated as Interest Proceeds); provided that no Interest Proceeds will be applied to acquire a Workout Loan if any non-payment or deferral of interest of any Class of Secured Notes is expected to occur on the immediately succeeding Payment Date on a pro forma basis, as determined by the Collateral Manager in its commercially reasonable judgment and provided further that not more than 10% of the Collateral Principal Amount may consist of Workout Loans at any time. In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.
Appears in 3 contracts
Sources: Indenture (Blue Owl Technology Finance Corp.), Indenture and Security Agreement (Blue Owl Technology Finance Corp. II), Indenture and Security Agreement (Blue Owl Technology Income Corp.)
Workout Loans. Notwithstanding the foregoing, the Issuer may acquire a Workout Loan at any time during or after the Reinvestment Period from Interest Proceeds (including Contributions designated as Interest Proceeds); provided that no Interest Proceeds will be applied to acquire a Workout Loan if any non-payment or deferral of interest of any Class of Secured Notes Debt is expected to occur on the immediately succeeding Payment Date on a pro forma basis, as determined by the Collateral Manager in its commercially reasonable judgment and provided further that not more than 10% of the Collateral Principal Amount may consist of Workout Loans at any timetimejudgement. In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.
Appears in 1 contract
Sources: First Supplemental Indenture (Blue Owl Technology Finance Corp.)
Workout Loans. Notwithstanding the foregoing, the Issuer may acquire a Workout Loan at any time during or after the Reinvestment Period from Interest Proceeds (including Contributions designated as Interest Proceeds); provided that no Interest Proceeds will be applied to acquire a Workout Loan if any non-payment or deferral of interest of any Class of Secured Notes Debt is expected to occur on the immediately succeeding Payment Date on a pro forma basis, as determined by the Collateral Manager in its commercially reasonable judgment and provided further that not more than 10% of the Collateral Principal Amount may consist of Workout Loans at any time. In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.
Appears in 1 contract
Sources: Indenture and Security Agreement (Blue Owl Technology Finance Corp. II)