Collateral Manager Standard definition
Collateral Manager Standard. The standard of care applicable to the Collateral Manager set forth in the Collateral Management Agreement.
Collateral Manager Standard. The meaning specified in Section 6.2(e).
Collateral Manager Standard. The meaning specified in the Collateral Management Agreement.
Examples of Collateral Manager Standard in a sentence
Except as may otherwise be expressly provided in this Agreement, the Collateral Manager will perform its obligations hereunder in accordance with the Collateral Manager Standard.
More Definitions of Collateral Manager Standard
Collateral Manager Standard means the standard of care set forth in Section 2(a).
Collateral Manager Standard means, with respect to any Collateral Obligations, to service and administer such Collateral Obligations on behalf of the Borrower for the benefit of the Secured Parties (including in respect of any exercise of discretion) with reasonable care (i) using a similar degree of care, skill and attention as it employs with respect to similar collateral that which the Collateral Manager exercises with respect to comparable assets and/or portfolios that such Person manages for itself and others having similar investment objectives and restrictions and (ii) to the extent not inconsistent with clause (i), the Collateral Manager’s customary standards, policies and procedures.
Collateral Manager Standard has the meaning assigned to such term in Section 11.02(d).
Collateral Manager Standard shall have the meaning set forth in Section 2(a).
Collateral Manager Standard. With respect to the servicing, management and administration, and exercising and enforcing its rights and remedies in respect of each Loan, and the Collateral taken as a whole, a standard requiring a degree of care, skill, prudence and diligence consistent with (i) the highest of (x) that which the Collateral Manager exercises for its own account; (y) that which the Collateral Manager exercises for the accounts of others; and (z) a manner which the Collateral Manager reasonably believes to be consistent with the reasonable and customary practices of similarly situated, institutional collateral managers similarly engaged, in each case, with respect to portfolios comprised of similar assets and subject to similar investment objectives and restrictions; and (ii) to the extent not inconsistent with the foregoing, the Collateral Manager’s customary standards, policies and procedures.
Collateral Manager Standard. The standard of care applicable to the Collateral Manager set forth in the Collateral Management Agreement. “Collateral Obligation”: A Senior Secured Loan (including, but not limited to, interests in middle market loans acquired by way of a purchase or assignment) or Participation Interest therein, a Second Lien Loan or Participation Interest therein, or a DIP Collateral Obligation or a Participation Interest therein, that as of the date of acquisition by the Issuer: (i) is Dollar denominated and is neither convertible by the Obligor thereof into, nor payable in, any other currency; (ii) is not (A) a Defaulted Obligation or (B) a Credit Risk Obligation; (iii) is not a lease; (iv) if it is a Deferrable Obligation, it is a Permitted Deferrable Obligation; (v) provides for a fixed amount of principal payable in Cash on scheduled payment dates and/or at maturity and does not by its terms provide for earlier amortization or prepayment at a price of less than par;
Collateral Manager Standard. The standard of care applicable to the Collateral Manager when performing services on behalf of the Issuer as set forth in the Collateral Management Agreement. "Collateral Obligation": An obligation pledged by the Issuer to the Collateral Trustee that is (A) a Senior Secured Loan, a First Lien Last Out Loan or a Second Lien Loan (in each case, including, but not limited to, interests in Middle-Market Loans or Broadly Syndicated Loans by way of a purchase or assignment), (B) a Permitted Obligation or (C) in the case of any Loan described in clauses (A) or (B), a Participation Interest therein that, in each case, as of the date of the commitment to purchase by the Issuer: (i) is U.S. Dollar denominated and is neither convertible by the issuer thereof into, nor payable in, any other currency; (ii) is not (a) a Defaulted Obligation or (b) a Credit Risk Obligation (in each case, unless such obligation is being acquired in connection with a Bankruptcy Exchange); (iii) is not a lease (including a finance lease); (iv) if it is a Deferrable Obligation, (a) is a Permitted Deferrable Obligation and (b) is not deferring or capitalizing the payment of current cash pay interest thereon, paying current cash pay interest "in kind" or otherwise have an interest "in kind" balance outstanding with respect to cash pay interest (in each case, unless such obligation is being acquired in connection with a Bankruptcy Exchange); (v) provides for a fixed amount of principal payable in Cash on scheduled payment dates and/or at maturity and does not by its terms provide for earlier amortization or prepayment at a price of less than par; (vi) does not constitute Margin Stock; (vii) is an obligation with respect to which the Issuer will receive payments due under the terms of such obligation and proceeds from disposing of such obligation free and clear of withholding tax, other than with respect to FATCA or withholding tax as to which the Obligor or issuer must make additional payments so that the net amount received by the Issuer after satisfaction of such tax is the amount due to the Issuer before the imposition of any withholding tax; provided that this clause (vii) shall not apply to any withholding tax imposed on (x) any amendment, waiver, consent or extension fees or (y) commitment fees and other similar fees associated with Revolving Collateral Obligations or Delayed Drawdown Collateral Obligations; (viii) has an S&P Rating; (ix) is not an obligation whose repayment is subject t...