Specified Loan definition
Specified Loan. (a) Each Loan that is not an Eligible Loan, (b) the portion of any Loan that is included in the Excess Concentration Amount or (c) each Loan the Assigned Value of which is less than 100%.
Specified Loan means, either (a) a commercial loan (other than a Recurring Revenue Loan or Second Lien Loan) that is senior and secured by a pledge of collateral of the obligor and has a Total Net Leverage Ratio greater than 6.0x or Effective LTV greater than 60% as of the Relevant Test Period most recently ended prior to the related Cut-Off Date, or (b) a FILO Loan.
Specified Loan as defined in subsection 2.7(d).
Examples of Specified Loan in a sentence
Each Qualified ECP Guarantor intends that this Article VI constitute, and this Article VI shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each Specified Loan Party for all purposes of Section la(18)(A)(v)(II) of the Commodity Exchange Act.
More Definitions of Specified Loan
Specified Loan means a Loan that is originated (1) to an individual who is, at the time of origination of the Loan, a Colorado resident, (2) through a Program, and (3) with an APR, as determined under the Truth in Lending Act, 15 U.S.C. §§ 1601-1667f, and its implementing Regulation Z, 12 C.F.R. § 1026.22, at the time of origination that exceeds the maximum finance charge permitted under the UCCC for a supervised loan, C.R.S. § 5-2-201(2).
Specified Loan. A Loan that is designated by the Administrative Agent as a “Specified Loan” on the related Approval Notice.
Specified Loan means, a First Lien Loan, a First Out Loan or FILO Loan that (i) for any Collateral Obligation in any S&P Industry Classification (other than a Specified Industry Loan), has a Senior Net Leverage Ratio greater than 6.5x or an Effective LTV greater than 62.5%, in each case, as of the Relevant Test Period most recently ended prior to the related Cut-Off Date, and (b) for any Collateral Obligation that is a Specified Industry Loan, has a Senior Net Leverage Ratio greater than 7.5x or an Effective LTV greater than 62.5%, in each case, as of the Relevant Test Period most recently ended prior to the related Cut-Off Date.
Specified Loan means any Eligible Loan Asset that is a First Lien Loan Asset included in the Collateral Portfolio that has the following Senior Net Leverage Ratio, Total Net Leverage Ratio and EBITDA set forth below (during the Relevant Test Period) as of the applicable Cut-Off Date, provided that, in no event shall (i) a Large Middle Market Loan Asset that does not contain a Maintenance Covenant or (ii) a Specified Loan Asset that becomes an Approved Loan (pursuant to clause (b) of the definition thereof), in each case, be considered a Specified Loan: Grid I Loan 5.25x 6.25x $ 75,000,000 Grid II Loan 5.25x 6.00x $ 20,000,000
Specified Loan means a Broadly Syndicated Loan Asset or any Eligible Loan Asset that is a First Lien Loan Asset included in the Collateral Portfolio that has the following Senior Net Leverage Ratio, Total Net Leverage Ratio and EBITDA set forth below (during the Relevant Test Period) as of the applicable Cut-Off Date, provided that, in no event shall a Large Middle Market Loan Asset that does not contain a Maintenance Covenant be considered a Specified Loan: Grid I Loan 4.50x 6.00x $75,000,000 Grid II Loan 4.50x 6.00x $30,000,000 Grid III Loan 6.25x 6.25x $50,000,000
Specified Loan means, subject to the satisfaction of the Escrow Conditions, a single Loan borrowed by the Company and funding solely into escrow pursuant to Section 3.01(d) of the Agreement. For the avoidance of doubt, the Specified Loan may not include any issuance of a Letter of Credit or give rise to any LC Exposure.
Specified Loan means with respect to any Loan Schedule, the Loan made in respect of such Loan Schedule.