Deferring Security means a Collateral Obligation (other than a Defaulted Obligation) that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon for the shorter of two consecutive accrual periods or one year, which deferred capitalised interest has not, as of the date of determination, been paid in cash.
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Assets that have a Xxxxx’x Rating of at least “Baa3,” for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Assets that have a Xxxxx’x Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in cash; provided, however, that such Deferrable Security will cease to be a Deferring Security at such time as it (a) ceases to defer or capitalize the payment of interest, (b) pays in cash all accrued and unpaid interest accrued since the time of purchase and (c) commences payment of all current interest in cash.
Deferring Security means a PIK Security that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon: (a) with respect to Collateral Debt Obligations that have a Moody’s Rating of at least “Baa3”, for the shorter of two consecutive accrual periods or one year; and (b) with respect to Collateral Debt Obligations that have a Moody’s Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalised interest has not, as of the date of determination, been paid in cash.
Examples of Deferring Security in a sentence
Collateral Obligation included in the CCC Excess or the Caa Excess will be the Market Value of such Collateral Obligation; provided further that the Investment Criteria Adjusted Balance for any Collateral Obligation that satisfies more than one of the definitions of Deferring Security or Discount Obligation or is included in the CCC Excess or the Caa Excess will be the lowest amount determined pursuant to clauses (i), (ii) and (iii) above.
Collateral Obligation included in the CCC/Caa Excess will be the Market Value of such Collateral Obligation; provided, further, that the Investment Criteria Adjusted Balance for any Collateral Obligation that satisfies more than one of the definitions of Deferring Security or Discount Obligation or is included in the CCC/Caa Excess will be the lowest amount determined pursuant to clauses (a), (b) and (c) above.
Downloaded By: 10.3.97.143 At: 09:03 07 Jul 2023; For: 9781351262804, chapter34, 10.4324/9781351262804-34 ReferencesAhmed, M.
Collateral Obligation included in the CCC/Caa Excess will be the Market Value of such Collateral Obligation; provided further, that the Investment Criteria Adjusted Balance for any Collateral Obligation that satisfies more than one of the definitions of Deferring Security or Discount Obligation or is included in the CCC/Caa Excess will be the lowest amount determined pursuant to clauses (i),(ii) and (iii) above.
Collateral Obligation included in the CCC/Caa Excess will be the Market Value of such Collateral Obligation; provided further that the Investment Criteria Adjusted Balance for any Collateral Obligation that satisfies more than one of the definitions of Deferring Security or Discount Obligation or is included in the CCC/Caa Excess will be the lowest amount determined pursuant to clauses (i), (ii) and (iii) above.
More Definitions of Deferring Security
Deferring Security means a PIK Security that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon:
Deferring Security means a Collateral Obligation, which by its terms permits the deferral of payment of accrued and unpaid interest, that is deferring the payment of interest due thereon and has been so deferring for the shorter of (i) one payment period of such Collateral Obligation, and (ii) six months, in each case after such interest would otherwise have been payable; provided that, if at any time after such Collateral Obligation becomes a Deferring Security, if all amounts so deferred have been repaid, it shall no longer be a Deferring Security.
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Assets that have a Moody’s Rating of at least “Baa3,” for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Assets that have a Moody’s Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in cash; provided, however, that such Deferrable Security will cease to be a Deferring Security at such time as it (a) ceases to defer or capitalize the payment of interest, (b) pays in cash all accrued and unpaid interest accrued since the time of purchase and (c) commences payment of all current interest in cash.
Deferring Security means a Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon for the shorter of (i) one payment period of such Deferrable Security, and (ii) six months, in each case after such interest would otherwise have been payable; provided, that if at any time after such Collateral Obligation becomes a Deferring Security, if all amounts so deferred have been repaid in cash, it shall no longer be a Deferring Security.
Deferring Security means a Collateral Obligation (other than a Defaulted Obligation) that is deferring the payment of the current cash interest due thereon and has been so deferring the payment of such interest due thereon:
Deferring Security. A Deferrable Security that is not a Defaulted Loan and is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Collateral Loans that have a Xxxxx’x Rating of at least “Baa3”, for more than six consecutive months, and (ii) with respect to Collateral Loans that have a Xxxxx’x Rating of “Ba1” or below, for more than three consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in Cash.
Deferring Security. Any Deferrable Security that is deferring the payment of interest due thereon and has been so deferring the payment of interest due thereon (i) with respect to Collateral Obligations that have a Xxxxx’x Rating of at least “Baa3,” for the shorter of two consecutive accrual periods or one year, and (ii) with respect to Collateral Obligations that have a Xxxxx’x Rating of “Ba1” or below, for the shorter of one accrual period or six consecutive months, which deferred capitalized interest has not, as of the date of determination, been paid in Cash. “Delayed Drawdown Collateral Obligation”: A Collateral Obligation that (a) requires the Issuer to make one or more future advances to the borrower under the Underlying Instruments relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit the re-borrowing of any amount previously repaid by the borrower thereunder; but any such Collateral Obligation will be a Delayed Drawdown Collateral Obligation only until all commitments by the Issuer to make advances to the borrower expire or are terminated or are reduced to zero; provided that Revolving Collateral Obligations are not Delayed Drawdown Collateral Obligations. “Deliver,” “Delivered” or “Delivery”: The taking of the following steps: (a) in the case of each Certificated Security or Instrument (other than a Clearing Corporation Security, or a Certificated Security or an Instrument evidencing debt underlying a Participation Interest), (i) causing the delivery of such Certificated Security or Instrument to the Custodian registered in the name of the Custodian or its affiliated nominee or endorsed to the Custodian or in blank; (ii) causing the Custodian to continuously identify on its books and records that such Certificated Security or Instrument is credited to the relevant Account; and (iii) causing the Custodian to maintain continuous possession of such Certificated Security or Instrument; (b) in the case of each Uncertificated Security (other than a Clearing Corporation Security), (i) causing such Uncertificated Security to be continuously registered on the books of the issuer thereof to the Custodian; and (ii) causing the Custodian to indicate continuously on its books and records that such Clearing Corporation Security is credited to the applicable Account; (c) in the case of each Clearing Corporation Security, (i) causing the relevant Clearing Corporation to credit such Clearing Corporation Se...