Collateral Debt Security definition

Collateral Debt Security means any debt obligation or debt security purchased by or on behalf of the Issuer from time to time (or if the context so requires, to be purchased by or on behalf of the Issuer) each of which satisfies the Eligibility Criteria (in the case of a Synthetic Security, to the extent required to do so). Securities which are to constitute Collateral Debt Securities in respect of which the Issuer has entered into a binding commitment to purchase but which have not yet settled shall be included as Collateral Debt Securities in the calculation of the Portfolio Profile Tests and the Target Date Rating Requirements at any time as if such purchase had been completed. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Collateral Manager on behalf of the Issuer was entered into a binding commitment to purchase it, shall not cause such security to cease to constitute a Collateral Debt Security. References to Collateral Debt Securities shall not include Eligible Investments, Collateral Enhancement Securities or Defaulted Equity Securities.

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Collateral Debt Security and “Collateral Debt Securities”: Any loan, security or other obligation (other than Eligible Investments) owned by the Issuer (including those acquired after the Closing Date) that complied with the Eligibility Criteria at the time the Issuer entered into the commitment to acquire such loan, security or obligation.

Collateral Debt Security means any Asset Backed Security or any Structured Finance Security.

Examples of Collateral Debt Security in a sentence

The security interest of the Trustee shall nevertheless come into existence and continue in the Collateral Debt Security, Equity Security or Eligible Investment so acquired, including all rights of the Issuer in and to any contracts related to and proceeds of such Collateral Debt Security, Equity Security or Eligible Investment.
In the absence of any instruction from the Collateral Manager, the Trustee shall not engage in any vote or take any action with respect to such a Collateral Debt Security.
In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Collateral Debt Security (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Collateral Manager.
The Trustee shall (i) deliver any agreements and other documents in its possession relating to such Pledged Collateral Debt Security and (ii) if applicable, duly assign each such agreement and other document, in each case, to the broker or purchaser designated in such Issuer Order.
For purposes of the Par Value Ratio, any Collateral Debt Security that has sustained an implied reduction of Principal Balance due to an appraisal reduction will not be considered a Defaulted Security solely due to such implied reduction.

More Definitions of Collateral Debt Security

Collateral Debt Security means certain Trust Preferred Securities, CMBS, Subordinated Notes, and Senior Notes issued by Collateral Debt Securities Issuers purchased or otherwise acquired by the Issuer, including, without limitation, the Trust Preferred Securities, the Subordinated Notes, the Senior Notes and the CMBS identified on the Closing Date on the Schedule of Collateral Debt Securities and, at the time of purchase thereof by the Issuer, satisfy the Collateral Debt Security Criteria and the Eligibility Criteria.

Collateral Debt Security means an item of Collateral which satisfies the Eligibility Criteria specified in Section 12.2.

Collateral Debt Security means a Loan; provided that in no event will Collateral Debt Securities include:

Collateral Debt Security has the meaning assigned to such term in Annex B attached hereto.

Collateral Debt Security means any Asset Backed Security which, at the time of the Issuer entering into a binding commitment to acquire such obligation, satisfies the Eligibility Criteria, in each case denominated in

Collateral Debt Security means a debt security, Structured Finance Security or CDS Asset that meets the following standards as of the date of the Issuer’s commitment to purchase:

Collateral Debt Security means on and following the acquisition thereof, any Bank Loan, Mezzanine Loan, Second Lien Loan, CLO Securities, Special Debt Security or Synthetic Security including any Participation purchased or acquired by the Issuer or the Collateral Manager on behalf of the Issuer from time to time pursuant to the Collateral Management Agreement which at the time of purchase or acquisition satisfied paragraphs (a) and (b) of the Eligibility Criteria (if acquired during the Ramp-Up Period) and the Reinvestment Criteria (if acquired during the Reinvestment Period) and the Reinvestment Criteria and the Additional Reinvestment Criteria (if acquired after the Reinvestment Period) (provided that, solely for the purpose of the grant of any security interest to the Trustee for the benefit of the Secured Parties pursuant to the Trust Deed and the Euroclear Pledge Agreement and all the rights thereunder, Collateral Debt Securities shall mean all Bank Loans, Mezzanine Loans, Second Lien Loans, CLO Securities, Special Debt Securities, Synthetic Securities and Participations and all other securities, loans or other obligations, instruments or investments, regardless of whether such securities, loans or other obligations, instruments or investments satisfied the Eligibility Criteria, the Reinvestment Criteria or the Additional Reinvestment Criteria at the time of purchase or acquisition or at any time after their purchase or acquisition except that they shall not consist of Dutch Ineligible Securities). References to Collateral Debt Securities shall not include Eligible Investments, Collateral Enhancement Securities or Defaulted Equity Securities.