Balance Sheet CLO definition

Balance Sheet CLO means, with respect to any Lender, any Person (other than a natural person) that is (i) established for the purpose of making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in order to allow such Lender to manage its balance sheet or regulatory or the ordinary course of its business and its economic capital and (ii) administered or managed by such Lender or an Affiliate of such Lender.
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Balance Sheet CLO has the meaning set forth in Section 9.04(b).
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Balance Sheet CLO means a CLO whose assets consist predominantly of loans originated and transferred to the CLO by one or more of its affiliates other than in (i) open market transactions or (ii) in transactions permitted in paragraph (c)(3)(ii) or (iii) of this section, and the assets and liabilities of such CLO are, immediately after issuance of its ABS interests3 in a securitization transaction, included under generally accepted accounting principles in the consolidated balance sheet of one or more of its affiliates.
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Examples of Balance Sheet CLO in a sentence

  • In a Balance Sheet CLO, a financial institution, such as a bank or an insurance company, has a portfolio of loans that the financial institution securitizes.

  • Our comments apply solely to Traditional CLOs and not to Balance Sheet CLOs or any other collateralized debt obligation transaction, for reasons set forth below.Balance Sheet CLOA Balance Sheet CLO is a securitization of credit exposure to corporate entities, predominantly loans to companies.

  • The proposal and related arguments set forth below do not apply to Balance Sheet CLOs. Unlike Open Market CLOs, Balance Sheet CLOs are organized or initiated by an entity that also originates syndicated loans, portions of which are among the assets owned by the Balance Sheet CLO.


More Definitions of Balance Sheet CLO

Balance Sheet CLO have the following meanings:
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Balance Sheet CLO means a CLO where the issuer (or its affiliates) securitizes middle market or broadly syndicated loans off of its balance sheet into a special purpose vehicle.
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Related to Balance Sheet CLO

  • Balance Sheet Date has the meaning set forth in Section 3.06.

  • Interim Balance Sheet Date has the meaning set forth in Section 3.06.

  • Company Balance Sheet has the meaning set forth in Section 3.04(e).

  • Interim Balance Sheet as defined in Section 3.4.

  • Balance Sheet has the meaning set forth in Section 3.06.

  • Company Balance Sheet Date has the meaning set forth in Section 3.10.

  • Off-Balance Sheet Liabilities of any Person shall mean (i) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person.

  • Latest Balance Sheet has the meaning set forth in Section 3.4(a).

  • Closing Balance Sheet has the meaning set forth in Section 2.4(a).

  • Pro Forma Balance Sheet as defined in Section 4.1(a).