Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.
Adjusted Borrowing Value. For any Eligible Loan, on any date, an amount equal to the product of (a) the lower of (i) 100% and (ii) the Assigned Value for such Eligible Loan on such date, multiplied by (b) the Outstanding Balance of such Eligible Loan; provided that, the parties hereby agree that the Adjusted Borrowing Value of any Loan (or portion of such Loan) that is no longer an Eligible Loan shall be zero.
Adjusted Borrowing Value means for any Eligible Loan Asset as at any date of determination, an amount equal to the lower of (i) the Outstanding Principal Balance of such Loan Asset at such time, and (ii) the Assigned Value of such Loan Asset at such time multiplied by the Outstanding Principal Balance of such Loan Asset; provided that the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset shall be zero.
Examples of Adjusted Borrowing Value in a sentence
Notwithstanding anything to the contrary herein, the Borrower shall be permitted to distribute to the Equityholder (i) any Equity Security and (ii) any Collateral Asset that has an Adjusted Borrowing Value of zero if, after giving effect to such transfer, no Event of Default, Unmatured Event of Default or Borrowing Base Deficiency has occurred and is continuing or would result therefrom.
The Borrower will not, except as otherwise permitted in Section 6.04(a) and in accordance with the Collateral Manager Standard, extend, amend or otherwise modify the terms of any Collateral Asset (including the related Underlying Collateral), other than any Collateral Asset having an Adjusted Borrowing Value of zero.
More Definitions of Adjusted Borrowing Value
Adjusted Borrowing Value. For any Eligible Loan, on any date of determination, an amount equal to the lowest of (a) the Outstanding Balance of such Eligible Loan, (b) the Purchase Price multiplied by the funded principal balance of such Loan (exclusive of Accreted Interest), and (c) the Assigned Value for such Eligible Loan on such date multiplied by the funded principal balance of such Loan (exclusive of Accreted Interest); provided that, the parties hereby agree that the Adjusted Borrowing Value of any Loan that is not an Eligible Loan shall be zero.
Adjusted Borrowing Value means for any Loan Asset, for any date of determination, an amount equal to the lowest of: (i) the Outstanding Balance of such Loan Asset at such time, (ii) the Advance Date Assigned Value of such Loan Asset multiplied by the principal balance of such Loan Asset (exclusive of Accreted Interest), and (iii) the Assigned Value of such Loan Asset at such time multiplied by the principal balance of such Loan Asset (exclusive of Accreted Interest); provided that the parties hereby agree that the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset shall be zero.
Adjusted Borrowing Value. For any Loan, for any date of determination, an amount equal to the Assigned Value of such Loan at such time multiplied by the Dollar Equivalent of the Outstanding Balance of such Loan.
Adjusted Borrowing Value means for any Loan Asset, for any date of determination, (a) the Assigned Value of such Loan Asset at such time multiplied by (b) the Outstanding Balance of such Loan Asset (exclusive of Accreted Interest) minus (c) any Excess Concentration Amount for such Loan Asset; provided that the parties hereby agree that the Adjusted Borrowing Value of any Loan Asset (or, if applicable, any portion thereof representing the Excess Concentration Amount for such Loan Asset) that is no longer an Eligible Loan Asset shall be zero.
Adjusted Borrowing Value. For any Loan, for any date of determination, an amount equal to the Assigned Value of such Loan at such time multiplied by the Dollar Equivalent of the outstanding principal balance of such Loan (including compound or PIK Interest which has accrued and is unpaid at the time such Loan was acquired by the Borrower, but excluding any accrued or unpaid or PIK Interest accruing at any time thereafter).
Adjusted Borrowing Value means for any Loan, for any date of determination, an amount equal to the lowest of: (i) the OLB of such Loan at such time, (ii) the Assigned Value of such Loan on the date of its acquisition multiplied by the OLB of such Loan at such time and (iii) the Assigned Value of such Loan at such time multiplied by the OLB of such Loan at such time; provided that, the parties hereby agree that the Adjusted Borrowing Value of any Loan that is no longer an Eligible Loan shall be zero.
Adjusted Borrowing Value means, for any Eligible Collateral Loan as at any date of determination, an amount equal to the lower of (i) the Principal Balance of such Collateral Loan at such time, and (ii) the Assigned Value of such Collateral Loan at such time multiplied by the Principal Balance of such Collateral Loan; provided that the Adjusted Borrowing Value of any Collateral Loan that is no longer an Eligible Collateral Loan shall be zero.