Margin Deficit Event definition

Margin Deficit Event means the occurrence or existence of any of the following, as determined by Buyer in its sole discretion:

Margin Deficit Event shall exist, with respect to any Purchased Asset, if the Margin Deficit for such Purchased Asset is at least $250,000.

Margin Deficit Event means, the occurrence or existence of any of the following, as determined by Buyer in its sole discretion:

Examples of Margin Deficit Event in a sentence

• Seller shall, as soon as possible, but in no event later than two (2) Business Days after obtaining actual knowledge of such event, notify Purchaser of any Margin Deficit Event.

• No Margin Deficit Event shall exist, either immediately prior to or after giving effect to the requested Transaction.

• Palamé Email: ########@clns.com Re: Master Repurchase Agreement, dated as of June 19, 2018 (as amended, restated, supplemented, or otherwise modified and in effect from time to time, the “Master Repurchase Agreement”) by and between Goldman Sachs Bank USA (“Purchaser”) and CLNC Credit 6, LLC (“Seller”) Ladies and Gentlemen: Pursuant to Article 4(a) of the Master Repurchase Agreement, Purchaser hereby notifies Seller that a Margin Deficit Event has occurred as set forth below.

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• See “Case Post trial Procedures - Records Management” regarding the authentication of copies of records.

More Definitions of Margin Deficit Event

Margin Deficit Event means the occurrence or existence of any of the following, as determined by Purchaser in its sole discretion (except as set forth below), exercised in good faith:

Margin Deficit Event means the occurrence of the following event before the Maturity Date, as determined by the Calculation Agent: the excess of (A) the sum of (i) the market value of the Collateral and (ii) any Supplementary Collateral held by the Issuer on a particular day (such sum the “Collateral Market Value”) over (B) the mark-to-market value of the Swap Agreement (the “Swap MTM”) is less than 35 per cent. of the Outstanding Principal Amount.For the avoidance of doubt, the Collateral Market Value and the Swap MTM shall be determined by the Calculation Agent.

Margin Deficit Event means the occurrence of any of the following: (a) if, as of any Payment Date, the interest due and payable by the Underlying Borrowers with respect to all Underlying Loans, less any set up fees and ongoing expenses and fees payable by Borrower with respect to such Underlying Loans and any Borrower organizational expenses, is less than twice the amount of the Interest due with respect to the Loan by Borrower pursuant to this Loan Agreement as of such Payment Date or (b) with respect to any Underlying Loan, if upon the occurrence of a Write Down with respect to such Underlying Loan, the Allocated Loan Amount of such Underlying Loan divided by the unpaid principal balance of such Underlying Loan is greater than the Advance Rate (UPB) applicable to such Underlying Loan.

Margin Deficit Event shall exist, with respect to any Purchased Asset, if the Margin Amount for such Purchased Asset is less than the product of (a) 98% multiplied by (b) the Repurchase Price for such Purchased Asset.

Margin Deficit Event shall have the meaning set forth in the Fee Letter, which definition is incorporated herein by reference.

Margin Deficit Event shall exist (a) with respect to any Floating Rate Asset, if the Margin Deficit (with respect to any Foreign Purchased Asset, based on the Spot Rate with respect to the Applicable Currency as of the date of determination) with respect to such Purchased Asset is at least $250,000 or (b) with respect to any Fixed Rate Asset, if the Margin Deficit (with respect to any Foreign Purchased Asset, based on the Spot Rate with respect to the Applicable Currency as of the date of determination) with respect to such Purchased Asset is at least equal to the product of (i) 5% multiplied by (ii) the outstanding Purchase Price for such Purchased Asset.

Margin Deficit Event means the occurrence or existence of any of the following, as determined by Administrative Agent, on behalf of Xxxxxx, in its sole discretion: