Covered Debt means (a) at the date of this Replacement Capital Covenant and continuing to but not including the first Redesignation Date, the Initial Covered Debt and (b) thereafter, commencing with each Redesignation Date and continuing to but not including the next succeeding Redesignation Date, the Eligible Debt identified pursuant to Section 3(b) as the Covered Debt for such period.

Covered Debt means (i) at the date of this Replacement Capital Covenant and continuing to but not including the first Redesignation Date, the Initial Covered Debt and (ii) thereafter, commencing with each Redesignation Date and continuing to but not including the next succeeding Redesignation Date, the Eligible Debt identified pursuant to Section 3(b) as the Covered Debt for such period.

Covered Debt means any debt which is or may become payable in a Currency other than the Currency of the Recipient.

Examples of Covered Debt in a sentence

The Borrower will not permit the aggregate Value of the Portfolio Investments that are Cash or that can be converted to Cash in fewer than 20 Business Days without more than a 5% change in price to be less than 15% of the Covered Debt Amount for more than 30 consecutive Business Days during any period when the Adjusted Covered Debt is greater than 85% of the Adjusted Borrowing Base as determined in good faith by the Borrower.
The Borrower will not, nor will it permit any other Obligor to, make any payment or prepayment of the principal or any other amount owing in respect of any Capital Call Facility from the proceeds of the Collateral, except (a) regularly scheduled payments of principal and interest and (b) any other payment if (i) no Default or Event of Default shall have occurred and be continuing and (ii) the Covered Debt Amount does not exceed the Borrowing Base after giving effect to such payment.
Subject to the terms and conditions set forth herein, each Lender agrees to make Loans in Dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (ii) the aggregate Revolving Credit Exposure of all of the Lenders exceeding the Commitments, or (iii) the total Covered Debt Amount exceeding the Borrowing Base then in effect.

More Definitions of Covered Debt

Covered Debt means, collectively, (a) the Total Extensions of Credit, (b) the 5-Year Total Extensions of Credit, (c) Permitted Additional First Lien Debt and (d) Permitted First Lien Non-Loan Exposure.

Covered Debt has the meaning specified in the Replacement Capital Covenant.

Covered Debt has the meaning assigned to such term in the Replacement Capital Covenant.

Covered Debt means all outstanding SRF Bonds.

Covered Debt has the meaning set forth in the Proceeds Sharing Agreement.