structured loan definition
structured loan means a structure involving subordinated credit claims;
structured loan means a Loan (which may be documented in legal form consistent with either a loan or a security) which arises from an extension of credit to an Obligor (including SPE Obligors), in connection with which the cash flows, priority of payment provisions, determinations of credit enhancement levels, performance triggers and legal opinions are consistent with those for issuances of asset backed loans or asset backed securities, as applicable, involving similar underlying pools of assets with similar characteristics as the specified pool of assets collateralizing such Structured Loan.
structured loan. Any subordinated debt, including any subordinated certificate, issued by the Borrower or any Affiliate of the Borrower in connection with any Term Takeout, which subordinated debt or certificate is issued or sold to, or acquired by, the Lender or any of its Affiliates in connection with the closing of such Term Takeout; provided; however, that such subordinated note or certificate shall only constitute a Structured Loan for purposes hereof if (i) the Lender or an Affiliate of the Lender has approved such subordinated debt or certificate (including its terms and conditions) in writing and as a "Structured Loan", (ii) the net proceeds of such Term Takeout, after paying all issuance costs related to such Term Takeout are not sufficient to pay all amounts hereunder and under the Receivables Funding Agreement due in connection with such Term Takeout and (iii) the interest rate on such Structured Loan is at least equal to the Minimum Structured Loan Interest Rate.