Loan Class definition
Loan Class means a Class 1 Loan, a Class 2 Loan, a Class 3 Loan or a Class 4 Loan, as applicable.
Loan Class means a Class 1 Loan, a Class 2 Loan, a Class 3 Loan or a Class 4 Loan, as applicable. “Loan Sale Agreement” means that certain Loan Sale and Contribution Agreement, dated as of the Closing Date, by and between the Equityholder and the Borrower, as the same may be amended restated, supplemented or otherwise modified from time to time. “Loan Type” means a First Lien Loan, a First Lien Last Out Loan or a Second Lien Loan, as applicable. “Loan Value” means, with respect to each Collateral Loan, as of any date of determination and expressed as a percentage of the Principal Balance of such Collateral Loan, a percentage equal to: (a) (i)(x) for Collateral Loans originated by the Borrower or, with respect to the Collateral Loans set forth on Schedule 3 only, acquired by the Borrower within 60 days of origination, the purchase price of such Collateral Loan (with any such purchase price of at least 97.0% of par being deemed to have been acquired at par) and (y) for Collateral Loans acquired by the Borrower on or after the Closing Date and which are not covered by clause (x), the Servicer’s latest valuation for such Collateral Loan; or (ii) except in the case of a Qualified Broadly Syndicated Loan or a Qualified Direct Lending Loan, the price of such Collateral Loan as agreed between the Borrower, the Servicer and the Administrative Agent; it being understood that any Loan Value for a Collateral Loan that does not comply with either of the foregoing subclauses (i) or (ii) shall constitute a failure of such Collateral Loan to meet clause (l) of the definition of “Eligible Collateral Loan”; (b) if a Revaluation Event has occurred with respect to such Collateral Loan and such Collateral Loan is not a Defaulted Collateral Loan, (i) if such Collateral Loan is a Listed Collateral Loan as of such date, the lesser of (x) the Listed Value of such Collateral Loan as at such date and (y) the purchase price of such Collateral Loan (as determined pursuant to clause (a)(i) above); and (ii) if such Collateral Loan is not a Listed Collateral Loan as of such date, the value of such Collateral Loan determined in an Appraisal from an Approved Valuation Firm obtained by the Borrower (a “Borrower Valuation”) within 14 days of notice of such Revaluation Event, subject to the dispute and valuation process noted in the paragraphs below (it being understood that the Loan Value of such Collateral Loan in effect immediately prior to the occurrence of such Revaluation Event shall remain in pla...
Loan Class means a Class 1 Loan, a Class 2 Loan, a Class 3 Loan or a Class 4 Loan, as applicable. “Loan Sale Agreement” means that certain Loan Sale and Contribution Agreement, dated as of the Closing Date, by and between the Equityholder and the Borrower, as the same may be amended restated, supplemented or otherwise modified from time to time. “Loan Type” means a First Lien Loan, a First Lien Last Out Loan or a Second Lien Loan, as applicable.
Examples of Loan Class in a sentence
Voluntary prepayments of any Class of Term Loans permitted hereunder shall be applied in a manner determined at the discretion of the Borrower and specified in the notice of prepayment, subject to clause (b) above; provided that the Borrower may prepay Term Loans of any Term Loan Class pursuant to this Section 2.05 without any requirement to prepay Extended Loans that were converted or exchanged from such Term Loan Class.
More Definitions of Loan Class
Loan Class means a Class 1A Loan, a Class 1B Loan, a Class 2A Loan, a Class 2B Loan, a Class 3A Loan, a Class 3B Loan, a Class 4A Loan or a Class 4B Loan, as