Concentration Denominator means (a) during the Ramp-Up Period only, the greater of (i) the Target Portfolio Amount and (ii) the sum of the Adjusted Borrowing Values of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount, and (b) thereafter, the sum of the Adjusted Borrowing Values of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount.
Concentration Denominator means the higher of (a) the Target Portfolio Amount and (b) an amount equal to the sum of the Adjusted Borrowing Values of all Eligible Loan Assets included as part of the Collateral on such date.
Concentration Denominator means, on any date of determination (a) during the Ramp-Up Period, the applicable Target Portfolio Amount and (b) thereafter, the aggregate Outstanding Balance of all Eligible Loan Assets in the Collateral Portfolio on such date, plus amounts on deposit in the Principal Collection Account; provided that the Concentration Denominator, with respect to (i) clause (h) set forth in the definition of “Concentration Limitations,” shall not include Second Lien Loans and (ii) clauses (h), (i) and (k) set forth in the definition of “Concentration Limitations,” shall not include Qualified Loans.
Examples of Concentration Denominator in a sentence
For purposes of each of the foregoing percentages, the numerator shall be the aggregate Outstanding Balance of all Eligible Loan Assets in the Collateral Portfolio that are included in the specific category for such Concentration Limitation as of the relevant date of determination and the denominator shall be the applicable Concentration Denominator.
More Definitions of Concentration Denominator
Concentration Denominator means (x) during the Ramp-Up Period, $417,000,000 and (y) after the end of the Ramp-Up Period, the sum of (1) the Aggregate Principal Balance of the Eligible Collateral Assets owned (and, solely in relation to a proposed purchase of an Eligible Collateral Asset, proposed to be owned) by the Borrower and (2) the Principal Proceeds and Eligible Investments made with Principal Proceeds on deposit in the Principal Collection Account as of such date, and in each case in accordance with the procedures set forth in Section 1.04; provided that, for purposes of calculating the Concentration Denominator, the Principal Balance of any Collateral Asset denominated in an Eligible Currency other than Dollars shall be calculated using the Applicable Conversion Rate as of the applicable Acquisition Date unless such Applicable Conversion Rate as of the applicable Acquisition Date varies by more than 2% from the then-current Applicable Conversion Rate, in which case, the then-current Applicable Conversion Rate shall be used.
Concentration Denominator means, as of any date of determination, (a) during the Ramp-Up Period only, the greater of (i) the Target Portfolio Amount and (ii) the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Account, plus amounts on deposit in the Unfunded Exposure Account, and (b) thereafter, the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Account, plus amounts on deposit in the Unfunded Exposure Account.
Concentration Denominator means the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount.
Concentration Denominator means (a) during the Ramp-Up Period only, the greater of (i) the Target Portfolio Amount and (ii) the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount, plus amounts on deposit in the Unfunded Exposure Account, and (b) thereafter, the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount, plus amounts on deposit in the Unfunded Exposure Account.
Concentration Denominator. As of any date of determination, the Aggregate Principal Balance of the Eligible Portfolio Assets owned by the Borrower; provided that any time prior to the Ramp-Up Period Endnine-month anniversary of the Closing Date, the Concentration Denominator shall be deemed to be the quotient of the Maximum Facility Amount divided by the Maximum Advance Rate.
Concentration Denominator means (a) during the Ramp-Up Period only, the greater of (i) the Target Portfolio Amount and (ii) the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount (including Permitted Investments), plus amounts on deposit in the Unfunded Exposure Account (including Permitted Investments), and (b) thereafter, the sum of the Outstanding Balances of all Eligible Loan Assets included as part of the Collateral on such date, plus amounts on deposit in the Principal Collection Subaccount (including Permitted Investments), plus amounts on deposit in the Unfunded Exposure Account (including Permitted Investments).
Concentration Denominator means (x) during the Fourth Amendment Ramp-Up Period, $750,000,0001,150,000,000 and (y) after the end of the Fourth Amendment Ramp-Up Period, the sum of (1) the Aggregate Principal Balance of the Eligible Collateral Assets owned (and, solely in relation to a proposed purchase of an Eligible Collateral Asset, proposed to be owned) by the Borrower and (2) the Principal Proceeds and Eligible Investments made with Principal Proceeds on deposit in the Principal Collection Account as of such date, and in each case in accordance with the procedures set forth in Section 1.04; provided that, for purposes of calculating the Concentration Denominator, the Principal Balance of any Collateral Asset denominated in an Eligible Currency other than Dollars shall be calculated using the Applicable Conversion Rate as of the applicable Acquisition Date unless such Applicable Conversion Rate as of the applicable Acquisition Date varies by more than 2% from the then-current Applicable Conversion Rate, in which case, the then-current Applicable Conversion Rate shall be used.