ITC Downside Case definition
ITC Downside Case means a scenario in which a 30% reduction in fair market value occurs in the first month that a Subject Fund is included in the Available Borrowing Base and the Aggregate Advance Model is adjusted to calculate the Net Cash Flows distributable to the Managing Member(s) of such Subject Fund in light of such reduction in fair market value and any applicable Cash Sweep Event (as defined in Appendix 7). For avoidance of doubt, the amounts set forth in this clause (ii) are indicative subject to final determination by the Administrative Agent at the time such Subject Fund is included in the Available Borrowing Base;
ITC Downside Case means a scenario in which a 30% reduction in fair market value occurs in the first month that a Subject Fund is included in the Available Borrowing Base and the Aggregate Advance Model is adjusted to calculate the Net Cash Flows distributable to the Managing Member(s) of such Subject Fund in light of such reduction in fair market value and any applicable Cash Sweep Event (as defined in Appendix 7).
ITC Downside Case means a scenario in which a ***. *** Confidential treatment has been requested for the portions marked by “***”. The confidential redacted portions have been omitted and filed separately with the Commission Loan Agreement — Appendices
More Definitions of ITC Downside Case
ITC Downside Case means a scenario in which a 30% reduction in fair market value occurs in the first month that a Subject Fund is included in the Available Borrowing Base and the Aggregate Advance Model is adjusted to calculate the Net Cash Flows distributable to the Managing Member(s) of such Subject Fund in light of such reduction in fair market value and any applicable Cash Sweep Event (as defined in Appendix 7). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. For avoidance of doubt, the amounts set forth in this clause (ii) are indicative subject to final determination by the Administrative Agent at the time such Subject Fund is included in the Available Borrowing Base;
ITC Downside Case means a scenario in which the following are assumed to occur (i) [***] and (ii) any affiliate of Vivint Solar Parent that owes an indemnity payment to the Investor(s) in such Subject Fund relating to such reduction defaults on such payment, and the Advance Model is adjusted to calculate the Net Cash Flows distributable to the Managing Member of such Subject Fund in light of such assumptions and any applicable Cash-Sweep Event; provided that in the event Borrower has obtained ITC Insurance, then the Advance Model prepared for the ITC Downside Case shall assume that the expected insurance proceeds from such policy are paid to Borrower.
ITC Downside Case means a scenario in which the following are assumed to occur (i) *** and (ii) any affiliate of Vivint Solar Parent that owes an indemnity payment to the Investor(s) in such Subject Fund relating to such reduction defaults on such payment, and the Advance Model is adjusted to calculate the Net Cash Flows distributable to the Managing Member of such Subject Fund in light of such assumptions and any applicable Cash-Sweep Event; provided that, with respect to any Tax Loss Fund, in the event a Loan Party has obtained a Tax Loss Policy for such Subject Fund, then the Advance Model prepared for the ITC Downside Case shall assume that the expected insurance proceeds from such policy are paid to such Loan Party.