Examples of Adjusted Borrowing Value in a sentence
Each of the Purchaser and the Seller hereby agree that the fair market value of each Loan Sold hereunder as of the related Purchase Date shall not be less than the Adjusted Borrowing Value of such Loan on the related Purchase Date.
The Borrower shall not permit any of the three largest Eligible Loans (measured in terms of the Adjusted Borrowing Value of such Eligible Loan) included in the calculation of the Borrowing Base to be (i) First Lien Last Out Loans, (ii) Second Lien Loans or (iii) Loans for which the related Obligor has Permitted EBITDA of less than $15,000,000.
It is understood and agreed that consent of the Administrative Agent will not be required if (x) the Borrower is selling a Loan Asset to an Existing Gxxxx BDC CLO for proceeds in an amount at least equal to the Adjusted Borrowing Value and (y) at least $2,000,000 in Outstanding Balance of such Loan Asset remains in the Collateral Portfolio after such sale (unless waived by the Administrative Agent in its sole discretion).
The Borrower will not, except as otherwise permitted in the Servicing Agreement and in accordance with the Servicer Standard, extend, amend or otherwise modify the terms of any Loan (including the related Underlying Collateral), other than any Loan having an Adjusted Borrowing Value of zero.
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