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and the Investment Management Agreement, (ii) has demonstrated an ability to professionally and competently perform duties similar to those imposed upon the Collateral Manager or Investment Advisor, as applicable, under the Transaction Documents and the Investment Management Agreement, (iii) is legally qualified and has the capacity to assume the duties and obligations of the Collateral Manager or Investment Advisor, as applicable, under the Transaction Documents and the Investment Management Agreement, and (iv) immediately after the appointment of such party to assume the duties of the Collateral Manager or Investment Advisor, as applicable, under the Transaction Documents and the Investment Management Agreement, employs or utilizes such principal personnel that are necessary to perform the duties required under the Transaction Documents and the Investment Management Agreement, in each case, as reasonably determined the Administrative Agent. \u201cPermitted DDTL\u201d: With respect to 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