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
To the extent the Collateral Manager, as agent of the Collateral Custodian and the Borrower, holds any Collateral, the Collateral Manager shall do so in accordance with the Collateral Manager Standard as such standard applies to Collateral Managers acting as custodial agent.
Except as may otherwise be expressly provided in this Agreement or the Credit 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. 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 (including a finance 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; (vi) does not constitute Margin Stock; (vii) gives rise only to payments that are not subject to withholding tax, other than withholding tax imposed on commitment fees and other similar fees, withholding imposed pursuant to FATCA and withholding tax as to which the Obligor must make additional
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. With respect to the servicing, management and administration 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 same care, skill, prudence and diligence with which the Collateral Manager services and administers loans for its own account or for the account of others, (ii) the customary and usual servicing practices that a prudent loan investor or lender would use in servicing assets of the nature and character of the Loans for its own account; and (iii) to the extent not inconsistent with the foregoing, the Collateral Manager’s customary standards, policies and procedures.