Uptier Priming Debt definition
Uptier Priming Debt. Any Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction. For the avoidance of doubt, any Uptier Priming Debt must satisfy the requirements of the definition of one of “Collateral Obligation”, “Workout Loan” or “Restructured Obligation”.
Uptier Priming Debt. Any Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction. For the avoidance of doubt, any Uptier Priming Debt must satisfy the requirements of the definition of one of “Collateral Obligation” “Equity Security,” “Non-Qualified Workout Loan” or “Qualified Workout Loan” and will be treated as such for all purposes under this Indenture.
Uptier Priming Debt. Any Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction. For the avoidance of doubt, any Uptier Priming Debt must satisfy the requirements of the definition of one of “Collateral Obligation”, “Workout Loan” or “Restructured Loan”. “Uptier Priming Transaction”: Any transaction effected in connection with the bankruptcy related to, or the workout or restructuring of, a Collateral Obligation held by the Issuer, in which (x) new money priming debt is issued by the Obligor of such Collateral Obligation which will be senior in priority to all existing debt of such Obligor (including the Collateral Obligation held by the Issuer) (“Superpriority New Money Debt”) and/or (y) the current secured lenders (with respect to such Collateral Obligation) that participate in the Superpriority New Money Debt have the opportunity to exchange their current secured loans for priming debt (without any requirement to pay additional amounts, other than reasonable and customary expenses, e.g., transfer costs) that will be senior in priority to all other outstanding debt of such Obligor (including the Collateral Obligation held by the Issuer), other than Superpriority New Money Debt (“Rolled Senior Uptier Debt”). “▇▇▇▇▇▇▇ Rule”: Section 619 of the ▇▇▇▇-▇▇▇▇▇ Act and the related implementing regulations, as amended from time to time. “▇▇▇▇▇▇▇ Rule Obligation”: Any Collateral Obligation or Eligible Investment in respect of which the Issuer and the Collateral Manager have received an opinion of counsel of national reputation experienced in such matters that the Issuer’s ownership of such Collateral Obligation or Eligible Investment would cause the Issuer to be unable to qualify as a “loan securitization” under the ▇▇▇▇▇▇▇ Rule. No Underlying Document or Eligible Investment shall be a ▇▇▇▇▇▇▇ Rule Obligation until the day on which such opinion is received by the Collateral Manager. Notwithstanding receipt of such opinion with respect to a Senior Secured Loan, Second Lien Loan or Unsecured Loan, such Senior Secured Loan, Second Lien Loan or Unsecured Loan shall not be a ▇▇▇▇▇▇▇ Rule Obligation. “Warehouse Agreement”: TheMeans the amended and restated loan and servicing agreement, dated as of October 13, 2023, by and among the Issuer, as borrower, each of the other borrowers from time to time party thereto, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ BDC Inc., as servicer, Sumitomo Mitsui Banking Corporatio...
Examples of Uptier Priming Debt in a sentence
For the avoidance of doubt, any Uptier Priming Debt must satisfy the requirements of the definition of one of “Collateral Obligation”, “Workout Loan” or “Restructured Loan”.
More Definitions of Uptier Priming Debt
Uptier Priming Debt. Any Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction. For the avoidance of doubt, (i) the acquisition of any Uptier Priming Debt shall be subject to the terms of this Indenture, including the requirement that any such asset shall be required to qualify as a Collateral Obligation, Loss Mitigation Obligation or a Loss Mitigation Qualified Obligation, as applicable, (ii) to the extent that any such Uptier Priming Debt constitutes a Collateral Obligation, Loss Mitigation Obligation or a Loss Mitigation Qualified Obligation, such Uptier Priming Debt shall be subject to each of the requirements set forth in this Indenture with respect to such Collateral Obligation, Loss Mitigation Obligation or a Loss Mitigation Qualified Obligation, as applicable and (iii) if any such Superpriority New Money Debt does not satisfy the Additional Uptier Priming Debt Conditions, then such Superpriority New Money Debt shall not be treated as a Collateral Obligation for so long as such Superpriority New Money Debt fails to satisfy the Additional Uptier Priming Debt Conditions.
Uptier Priming Debt. Any Drop Down Asset, Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction; provided, (i) Uptier Priming Debt must be acquired by the Issuer in accordance with the Investment Criteria (other than, with respect to the requirement to meet the definition of “Collateral Obligation,” clauses (ii) and (xvi) thereof) and (ii) any Uptier Priming Debt shall be required to qualify as a Collateral Obligation (without giving effect to any carve-outs set forth in this definition) or a Restructuring Loan, as applicable.
Uptier Priming Debt means any Superpriority New Money Debt and any Rolled Senior Uptier Debt acquired by the Issuer resulting from, or received in connection with an Uptier Priming Transaction as identified by the Collateral Manager to the Trustee for one or more purpose