Eligible Loan Asset definition

Eligible Loan Asset means, at any time, a Loan Asset in respect of which each of the representations and warranties contained in Section 4.02 and Schedule III hereto is true and correct.

Eligible Loan Asset means, as of any date of determination, a Loan Asset in respect of which each of the applicable criteria contained in Section 4.02 and Schedule II hereto is true and correct as of such date. In no event shall a Non-Levered Loan Asset be an Eligible Loan Asset hereunder.

Eligible Loan Asset at any time means a Loan Asset:

Examples of Eligible Loan Asset in a sentence

• For the avoidance of doubt, any inaccurate representation that a Loan Asset is an Eligible Loan Asset hereunder or under the Contribution Agreement shall not constitute an Event of Default if the Borrower complies with Section 2.07(e) hereunder and the Transferor complies with Section 6.1 of the Contribution Agreement (subject to the grace period set forth in such provisions); provided that any such Loan Asset will not be included in the calculation of the Borrowing Base during such grace period.

• It is understood and agreed that the obligation of the Seller to purchase the Loan Assets or substitute a Substitute Eligible Loan Asset for the Loan Assets which are affected by or related to such Seller Purchase Event is not intended to, and shall not, constitute a guaranty of the collectability or payment of any Loan Asset which is not collected, not paid or uncollectible on account of the insolvency, bankruptcy or financial inability to pay of the related Obligor.

• Each Loan Asset designated on any Servicing Report as an Eligible Loan Asset and each Loan Asset included as an Eligible Loan Asset in any calculation of Borrowing Base, Borrowing Base Deficiency in any Servicing Report is an Eligible Loan Asset.

• Each Eligible Loan Asset was originated without any fraud or material misrepresentation by the Seller or, to the best of the Seller’s knowledge, on the part of the Obligor.

• The Borrower shall not use the proceeds of any Advance other than to distribute such proceeds to the Transferor in connection with the contribution of an Eligible Loan Asset by the Transferor pursuant to the Contribution Agreement (so long as such distribution is permitted pursuant to Section 2.04).

More Definitions of Eligible Loan Asset

Eligible Loan Asset means, at any time, a Loan Asset that (i) is a First Lien Broadly Syndicated Loan Asset, First Lien Middle Market Loan Asset, Unitranche Loan Asset, Second Lien Broadly Syndicated Loan Asset or Second Lien Middle Market Loan Asset, and (ii) each of the representations and warranties contained in Section 4.02 hereto is true and correct and the standards set forth Schedule III are satisfied in full.

Eligible Loan Asset means, at any time, a Loan Asset which has been Pledged hereunder in respect of which each of the representations and warranties contained in Section 4.02 and Schedule II hereto is true and correct as of such time.

Eligible Loan Asset means, at any time, a Loan Asset that (i) is (x) a Broadly Syndicated Loan Asset (other than a Cov-Lite Loan Asset), Unitranche Loan Asset or First Lien Loan Asset, (y) a Cov-Lite Loan Asset with an Assigned Value of 90% or greater, or (z) a Second Lien Loan Asset that is a Floating Rate Loan Asset with an Assigned Value of 85% or greater, and (ii) each of the representations and warranties contained in Section 4.02 hereto is true and correct and the standards set forth Schedule III are satisfied in full.

Eligible Loan Asset means each Loan (A) with respect to which an Approval Notice has been executed by the Administrative Agent and (B) that satisfies each of the Eligibility Criteria set forth in Schedule III (unless the Administrative Agent in its sole discretion agrees to waive any such Eligibility Criteria with respect to such Loan).

Eligible Loan Asset means on any date of determination, a Senior Secured Loan, Second Lien Loan, DIP Loan, Mezzanine Loan, Secured Bond, Unitranche Loan, Hybrid Secured Bond or Unsecured Bond which satisfies each of the following requirements:

Eligible Loan Asset means, at any time, a Loan Asset that at such time satisfies each of the Loan Asset Eligibility Criteria.

Eligible Loan Asset as of any date of determination means a Loan Asset: