Class 2 Loan definition
Class 2 Loan means a Collateral Loan (a) that is not a Class 1 Loan and (b) the relevant Obligor of which has EBITDA of at least the Dollar Equivalent of $100,000,000 as calculated in accordance with the Related Documents and as most recently reported thereunder as of the date the Borrower acquires such Collateral Loan.
Class 2 Loan or “Class 3 Loan” or any component thereof defined therein (in each case, other than any administrative, non-material amendment agreed to by the Borrower and the Administrative Agent); (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period, in each case to the extent such amendment, modification, waiver or supplement relates to such Lender.
Class 2 Loan. “Class 2A Loan,” “Class 2B Loan,” “Class 3 Loan,” “Class 3A Loan” or “Class 3B Loan” or any component thereof defined therein (in each case, other than any administrative, non-material amendment agreed to by the Borrower and the Administrative Agent), (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period, in each case to the extent such amendment, modification, waiver or supplement relates to such Lender.
More Definitions of Class 2 Loan
Class 2 Loan. “Class 2A Loan,” “Class 2B Loan,” “Class 3 Loan,” “Class 3A Loan” or “Class 3B Loan,” “Class 4 Loan,” “Class 4A Loan,” “Class 4B Loan” or any component thereof defined therein (in each case, other than any administrative, non-material amendment agreed to by the Borrower and the Administrative Agent), (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period, in each case to the extent such amendment, modification, waiver or supplement relates to such Lender.
Class 2 Loan or “Class 3 Loan,”; (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period.
Class 2 Loan means any Portfolio Asset whose Obligor has an EBITDA less than U.S.$50,000,000 at the time of acquisition.
Class 2 Loan means a Collateral Loan (a) that is not a Broadly Syndicated Loan or is a Broadly Syndicated Loan but not a Class 1 Loan or (b) the relevant Obligor of which has an EBITDA of at least the Dollar Equivalent of $100,000,000 as calculated in accordance with the Related Documents as of the Trade Date of such Collateral Loan. “Class 2 Minimum OC Coverage Test” means a test that shall be satisfied if the Class 2 OC Ratio is equal to or greater than 100%. “Class 2 OC Ratio” means, as of any Business Day, (a) the Class 2 Borrowing Base, divided by (b) the sum of (x) the aggregate outstanding principal balance of the Class 2 Advances and (y) the Dollar Equivalent of the aggregate purchase price of all Class 2 Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 3” means, at any time, all Class 3 Loans at such time. “Class 3 Advance” means each Advance allocated to Class 3 pursuant to, and in accordance with, this Agreement. “Class 3 Borrowing Base” means, at any time, an amount equal to the sum of (i) the amounts in each Principal Collection Account, (ii) the product of (x) the Weighted Average Class 3 Advance Rate (excluding any Sale Settlement Pending Collateral from the calculation of the Weighted Average Class 3 Advance Rate) as of such date, (y) the Aggregate Class 3 Net Collateral Balance (excluding any Sale Settlement Pending Collateral from the calculation of the
Class 2 Loan means a Collateral Loan (a) that is not a Class 1 Loan and (b) the relevant Obligor of which has EBITDA of at least the Dollar Equivalent of $100,000,000 as calculated in accordance with the Related Documents and as most recently reported thereunder as of the date the Borrower acquires such Collateral Loan. “Class 2A” means, at any time, all Class 2A Loans at such time. “Class 2A Advance” means each Advance allocated to Class 2A pursuant to, and in accordance with, this Agreement. “Class 2A Borrowing Base” means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Subaccount, (ii) the Dollar Equivalent of the amounts in the Trust Account, (iii) the product of (x) the Weighted Average Class 2A Advance Rate (excluding the Sale Settlement Pending Collateral for the Class 2A Loans from the calculation of the Weighted Average Class 2A Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 2A Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral for the Class 2A Loans from the calculation of the Aggregate Class 2A Net Collateral Balance) and (iv) the Dollar
Class 2 Loan means a Collateral Loan (a) that is not a Class 1 Loan and (b) the relevant Obligor of which has EBITDA of at least the Dollar Equivalent of
Class 2 Loan. “Class 3 Loan,” “Class 4 Loan” or “Interest Coverage Ratio Test”; (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period. “GAAP” means generally accepted accounting principles in effect from time to time in the United States. “GBP Advance” means an Advance denominated in Pounds Sterling. “GICS Industry Classification” means the industry classifications set forth in Schedule 4 hereto, as such industry classifications shall be updated at the option of the Servicer if MSCI Inc. publishes revised industry classifications. The determination of which GICS Industry Classification to which an Obligor belongs shall be made in good faith by the Servicer. “Government Security” has the meaning specified in the definition of Deliver.