Common use of Workout Loans Clause in Contracts

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 (x) so long as, after giving effect to such application of Interest Proceeds, the Coverage Tests are satisfied and (y) 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. In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.

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)) so long as each Overcollateralization Ratio Test will be satisfied after acquisition of such Workout Loan; provided that (x) so long as, after giving effect to such application of Interest Proceeds, the Coverage Tests are satisfied and (y) no ofno Interest Proceeds will would not cause thewill be applied to acquire a Workout Loan if any non-payment or deferral of interest of onof 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. In each case, the Issuer’s acquisition of a Workout Loan will not be required to satisfy the Investment Criteria.