Senior Secured Loans definition

Senior Secured Loans means all Senior Secured Loans, collectively.

Senior Secured Loans shall have the meaning given to such term in the Investment Agreement.

Senior Secured Loans means senior secured loans that are secured by a first lien or a second lien on some or all of the obligor’s assets, including, without limitation, traditional senior secured loans and any related Revolving Credit Loan or delayed draw loan as well as loans provided pursuant to unitranche credit facilities which are secured by a first lien on some or all of the obligor’s assets.

Examples of Senior Secured Loans in a sentence

• The Senior Secured Loans within a CLO are limited to Senior Secured Loans which meet specified credit and diversity criteria and are subject to concentration limitations in order to create an investment portfolio that is broadly assorted across different Senior Secured Loans, borrowers, and industries, with limitations on non-U.S. borrowers.

• For purposes of calculating the Collateral Quality Test, DIP Collateral Obligations will be treated as having an S&P Recovery Rate equal to the S&P Recovery Rate for Senior Secured Loans.

• Our investments may take the form of the purchase of Senior Secured Loans (either in the primary or secondary markets) or through investments in entities that in turn own a pool of Senior Secured Loans.

• We may invest in Senior Secured Loans directly or any security issued by a type of pool of Senior Secured Loans known as a Collateralized Loan Obligation (“CLO”) to implement our investment objective but have invested primarily in the equity and junior debt tranches of CLOs. We refer to such investments, together with direct investments in Senior Secured Loans, collectively as “Target Securities.” Structurally, CLOs are entities that are formed to manage a portfolio of Senior Secured Loans.

• The typical underlying borrowers for Senior Secured Loans are U.S.-based privately-held and publicly-held companies across a wide range of industries and sectors.Our principal office is located at 10 East 40th Street, 42nd Floor, New York, New York 10016 and our telephone number is (212) 448-0702.

More Definitions of Senior Secured Loans

Senior Secured Loans means a Collateral Loan (i) that is not subordinated in right of payment by its terms (including by operation of a payment waterfall in the Related Documents) to indebtedness of the Obligor for borrowed money (other than with respect to liquidation, capitalized leases, other similar obligations, or is a Split Lien Transaction) and the Lien of which is not contractually subordinated to any other secured obligation of the Obligor secured by all or a portion of the collateral securing such Collateral Loan; (ii) is secured by a valid and perfected first priority Lien on, subject to customary exceptions, substantially all of the Obligor’s assets constituting Related Property for the Collateral Loan, subject to any “permitted liens” as defined in the applicable Related Documents for such Collateral Loan or such comparable definition if “permitted liens” is not defined therein, so long as such definition is reasonable and customary; (iii) as of the date such Collateral Loan is initially included in the Collateral, has a Loan-to-Value Ratio not greater than 65% and with respect to which the Obligor Net Leverage Ratio is less than 4.5 to 1.0; and (iv) that is not secured solely or primarily by the common stock or other equity interests of its Obligor or any of its Affiliates.

Senior Secured Loans credit facilities which are secured by a first lien on some or all of the applicable issuer’s assets.

Senior Secured Loans the loans made pursuant to the Senior Secured Loan Agreement.

Senior Secured Loans means a Loan (or participation therein) that is a senior secured obligation as determined by the Servicer in its reasonable business judgment, provided that:

Senior Secured Loans means “Loans” as defined in the Senior Secured Credit Facilities.

Senior Secured Loans means Opco’s Senior Secured Loans extended pursuant to the Credit Agreement.

Senior Secured Loans collectively means the Term Loans and the Revolving Loans.