Step-Up Costs definition
Step-Up Costs means all claims received by a Party A Entity from any party who purchases a Reference Obligation from such Party A Entity pursuant to any deletion of such Reference Obligation from the Portfolio effected under any provision of this Confirmation and that arise in connection with the Step-Up Provisions of the LSTA Purchase and Sale Documentation or similar provisions of the LMA Purchase and Sale Documentation related to the transfer of a Reference Obligation in each case to the extent that, at the relevant time at which the relevant Party A Entity sells the relevant Reference Obligation, the relevant Reference Obligation trades as a Distressed Loan or to the extent that Party B shall have directed Party A or the relevant Party A Entity to document such sale by way of distressed documents rather than par documents.