Revolving Reserve Required Amount definition

Revolving Reserve Required Amount has the meaning assigned to such term in Section 8.04.
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Revolving Reserve Required Amount shall equal the sum of (x) the Net Aggregate Exposure Amount, plus (y) the aggregate amount of funds needed to settle purchases of Loans which the Borrower committed, prior to the end of the Reinvestment Period, to acquire after the Commitment Termination Date. Subject to the terms of this Agreement, the Borrower may request a Borrowing prior to the Commitment Termination Date in an amount sufficient to fund the Revolving Reserve Required Amount. Neither the Collateral Agent nor the Intermediary shall be under any obligation to monitor or determine if the amounts in the Revolving Reserve Account are equal to or greater than the Revolving Reserve Required Amount. Funds in the Revolving Reserve Account will be available solely to cover drawdowns on the Delayed Drawdown Loans and Revolving Loans, provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Revolving Reserve Required Amount, the Borrower or the Collateral Manager on its behalf may by delivery of a certificate of a Responsible Officer to the Administrative Agent, remit such excess to the Collection Account. In addition, following the occurrence and during the continuance of an Event of Default, funds in the Revolving Reserve Account may be withdrawn by the Administrative Agent and deposited into the Collection Account.
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Revolving Reserve Required Amount has the meaning assigned to such term in
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Examples of Revolving Reserve Required Amount in a sentence

  • Prior to or immediately after the occurrence of the Commitment Termination Date (other than a Commitment Termination Date following the occurrence of an Insolvency Event with respect to the Borrower), the Borrower shall request a final Borrowing in an amount sufficient to fund the Revolving Reserve Required Amount.

  • Funds in the Revolving Reserve Account (other than earnings from Eligible Investments therein) will be available solely to cover drawdowns on the Delayed Drawdown Collateral Loans and Revolving Collateral Loans, provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Revolving Reserve Required Amount, the Borrower shall direct the Collateral Agent to and the Collateral Agent shall remit such excess to the applicable Principal Collection Subaccount.

  • Funds in the Revolving Reserve Account (other than earnings from Eligible Investments therein) will be available solely to cover drawdowns on the Delayed Drawdown Collateral Loans and Revolving Collateral Loans, provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Revolving Reserve Required Amount, the Borrower shall direct the Collateral Agent to and the Collateral Agent shall remit such excess to the Principal Collection Subaccount.

  • Prior to or immediately after the occurrence of the Commitment Termination Date (other than a Commitment Termination Date following the occurrence of an Insolvency Event with respect to the Borrower, the Parent or the Collateral Manager), the Borrower shall be deemed to have requested a final Borrowing in an amount sufficient to fund the Revolving Reserve Required Amount.

  • The Borrower shall at all times following the end of the Reinvestment Period, maintain an amount in the Revolving Reserve Account equal to and in no event less than the Revolving Reserve Required Amount.

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  • Subject to the terms of this Agreement, the Borrower may request a Borrowing prior to the Commitment Termination Date in an amount sufficient to fund the Revolving Reserve Required Amount.

  • Funds in the Revolving Reserve Account will be available solely to cover drawdowns on the Delayed Drawdown Loans and Revolving Loans, provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Revolving Reserve Required Amount, the Borrower or the Collateral Manager on its behalf may by delivery of a certificate of a Responsible Officer to the Administrative Agent, remit such excess to the Collection Account.


More Definitions of Revolving Reserve Required Amount

Revolving Reserve Required Amount has the meaning assigned to such term in Section 8.04. “Risk Factor Rating” means, with respect to any Loan (excluding any Real Estate Loan or any Specialty Finance Loan, which shall not be required to have a Risk Factor Rating), determined on the date of acquisition and on each Risk Factor Rating Trigger Date with respect to such Loan, the number set forth on Schedule 7 which corresponds to the “bond default rating” and estimated default frequency for the Obligor of such Loan obtained by inputting current data related to such
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Revolving Reserve Required Amount shall equal the sum of (x) the Net Aggregate Exposure Amount, plus (y) the aggregate amount of funds needed to settle purchases of Loans which the
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Revolving Reserve Required Amount shall equal the sum of (x) the Unfunded Exposure Equity Amount, plus (y) the aggregate amount of funds needed to settle purchases or originations of Loans which the Borrower committed, prior to the end of the Reinvestment Period, to acquire or originate after the Commitment Termination Date. Subject to the terms of this Agreement, the Borrower may request a Borrowing prior to the Commitment Termination Date in an amount sufficient to fund the Revolving Reserve Required Amount. Neither the Administrative Agent nor the Account Bank shall be under any obligation to monitor or determine if the amounts in the Revolving Reserve Account are equal to or greater than the Revolving Reserve Required Amount.
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Revolving Reserve Required Amount has the meaning set forth in Section 8.04. “S&P” means Standard & Poor’s Ratings Group, together with its successors.
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Related to Revolving Reserve Required Amount

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.