Class 3 Loan definition
Class 3 Loan means a Collateral Loan (a) that is not a Class 1 Loan or a Class 2 Loan and (b) the relevant Obligor of which has an EBITDA of at least the Dollar Equivalent of $50,000,000 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 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.
Class 3 Loan means a Collateral Loan (a) that is not a Class 1 Loan or a Class 2 Loan and (b) the relevant Obligor of which has an EBITDA of at least the Dollar Equivalent of $35,000,000 as calculated in accordance with the Related Documents and as most recently reported thereunder as of the date the Borrower acquires such Collateral Loan.
More Definitions of Class 3 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 3 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 a Class 2 Loan and (b) the relevant Obligor of which has an EBITDA of at least the Dollar Equivalent of $50,000,000 as calculated in accordance with the Related Documents as of the Trade Date of such Collateral Loan. “Class 3 Minimum OC Coverage Test” means a test that shall be satisfied if the Class 3 OC Ratio is equal to or greater than 100%. “Class 3 OC Ratio” means, as of any Business Day, (a) the Class 3 Borrowing Base, divided by (b) the sum of (x) the aggregate outstanding principal balance of the Class 3 Advances and (y) the Dollar Equivalent of the aggregate purchase price of all Class 3 Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 4” means, at any time, all Class 4 Loans at such time. “Class 4 Advance” means each Advance allocated to Class 4 pursuant to, and in accordance with, this Agreement. “Class 4 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 4 Advance Rate (excluding any Sale Settlement Pending Collateral from the calculation of the Weighted Average Class 4 Advance Rate) as of such date, (y) the Aggregate Class 4 Net Collateral Balance (excluding any Sale Settlement Pending Collateral from the calculation of the Aggregate Class 4 Net Collateral Balance) as of such date and (z) the Portfolio Advance Rate Adjustment as of such date, and (iii) the Dollar Equivalent of the aggregate sale price on any Sale Settlement Pending Collateral for the Class 4 Loans. “Class 4 Loan” means a Collateral Loan (a) that is not a Broadly Syndicated Loan, and (b) the relevant Obligor of which has an EBITDA of less than the Dollar Equivalent of $50,000,000 as calculated in accordance with the Related Documents as of the Trade Date of such Collateral Loan. “Class 4 Minimum OC Coverage Test” means a test that shall be satisfied if the Class 4 OC Ratio is equal to or greater than 100%. “Class 4 OC Ratio” means, as of any Business Day, (a) the Class 4 Borrowing Base, divided by (b) the sum of (x) the aggregate outstanding principal balance of the Class 4 Advances and (y) the Dollar Equivalent of the aggregate purchase price of all Class 4 Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class Minimu...
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.
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. “Governmental Authority” means, with respect to any Person, any nation or government, any supranational, state or other political or subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any body or entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or arbitrator, in each case, having jurisdiction or authority over such Person. “Governmental Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Governmental Authorities.
Class 3 Loan. “Class 4 Loan” or, “Class 5 Loan” or “Concentration Limitations” or any material 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 or (j) cause the direct or indirect subordination of any lien or claim securing the Obligations in connection with this Agreement.
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.