Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing or (ii) LTV as of such date exceeds the Applicable LTV Trigger.
Market Trigger Event means any instance of the 20-day VWAP falling below the Floor on its principal Trading Market.
Market Trigger Event means, as of any date of determination, (a) any Event of Default has occurred and is continuing, or (b) the LTV as of such date exceeds the Maximum Quarterly LTV Percentage then applicable (such Market Trigger Event, set forth in this clause (b), the “LTV Trigger Event”).
Examples of Market Trigger Event in a sentence
The Borrower acknowledges that such reduction may cause a Market Trigger Event.
If the Availability Period has been suspended as provided in this Section 2.01, the Availability Period shall be reinstated once the Administrative Agent (acting at the written direction of the Majority Lenders), in its reasonable discretion, waives the Event of Default or Market Trigger Event which gave rise to such suspension in accordance with Section 11.01 or the Event of Default or a Market Trigger Event which gave rise to such suspension no longer exists.
More Definitions of Market Trigger Event
Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing, (ii) LTV as of such date exceeds the Applicable LTV Trigger or (iii) any Determination Date that occurs on or after twelve months prior to the Stated Maturity Date. "Material Adverse Effect" means a material adverse effect on (a) the business, financial condition, operations, liabilities (actual or contingent), performance or properties of the Borrower, (b) the validity or enforceability of this Agreement or any other Transaction Document or the validity or enforceability of the Portfolio Assets generally or any material portion of the Portfolio Assets, (c) the rights and remedies of the Collateral Custodian, the Calculation Agent, the Administrative Agent, any Lender or any other Secured Parties with respect to matters arising under this Agreement or any other Transaction Document, (d) the ability of the Borrower to perform its obligations under this Agreement or any other Transaction Document or (e) the existence, perfection, priority or enforceability of the Administrative Agent's or the other Secured Parties' Lien on the Collateral; provided that, there shall be no Material Adverse Effect to the Borrower to the extent such Material Adverse Effect arises from the action (or inaction) of the Calculation Agent, the Collateral Custodian, the Administrative Agent or a Lender. "Material Modification" means any amendment or waiver of, or modification or supplement to, or termination, cancellation or release of, a Loan Agreement for a Portfolio Asset or for the Underlying Loan Obligation for a Portfolio Asset, as applicable, executed or effected on or after the applicable Cut‐ Off Date that: (a) forgives, excuses, reduces, waives or modifies such Loan Agreement or the related loan documents in a manner which would reduce the outstanding principal amount of the amount due thereunder, reduce the interest rate by greater than 0.50%, calculated on an aggregate basis after the applicable Cut‐Off Date, or reduce the amount of any prepayment premium or fees payable thereunder; (b) extends the scheduled date for payment of principal, interest, fees or other amounts payable under such Loan Agreement or the related loan documents beyond six months from the original scheduled date for each Loan Asset; (c) extends the scheduled date of expiration or termination of any commitment to make Delayed Draws with respect to such Loan Asset; (d) increases the Borrower's commitment to m...
Market Trigger Event means that the Calculation Agent has determined that the secondary mid price of the Notes (expressed as a percentage of the Specified Denomination) and published on the source specified in the applicable Final Terms (the “Market Trigger Event Source”) has fallen below a percentage specified in the applicable Final Terms (the ‘Market Trigger Event Percentage”) and is continuing for a period of five (or such other number of days as specified in the applicable Final Terms) consecutive Business Days (as defined in “General Terms and Conditions of the Notes Part 2 - Repack Notes Specific Provisions”).
Market Trigger Event means, as of any date of determination, either (a) the Portfolio LTV as of such date exceeds 60%, (b) subsequent to the Availability Period, there are Eligible Loan Assets (for which no Underlying Obligor Default has occurred and is continuing) in the Collateral Portfolio which, collectively, have fewer than ten (10) separate and distinct Obligors at such time, (c) such date is on or after the date occurring 18 months prior to the Scheduled Maturity Date or (d) a Ratings Event has occurred and is continuing as of such date. Once a Market Trigger Event has occurred, it is deemed to be continuing until (i) in the case of a Market Trigger Event specified in clause (a) above, the Portfolio LTV, as of a date of determination occurring after such Market Trigger Event, is less than or equal to 60%, (ii) in the case of a Market Trigger Event specified in clause (b) above, as of a date of determination occurring after such Market Trigger Event when there are Eligible Loan Assets (for which no Underlying Obligor Default has occurred and is continuing) in the Collateral Portfolio which, collectively, have ten (10) or more separate and distinct Obligors at such time and (iii) in the case of clause (d) above, upon the occurrence of a Ratings Event Cure. A Market Trigger Event specified in clause (c) above shall be incapable of being cured.
Market Trigger Event means, as of any date of determination, (i) an Event of Default has occurred and is continuing, (ii) an LTV Trigger Event has occurred and is continuing, (iii) the Debt Service Coverage Ratio (commencing with the period ending September 30, 2021) as of such date is less than 3.0:1.0, (iv) [reserved], (v) a Material Investment Event or a Material Modification has occurred and is continuing, (vi) the Eligible Portfolio Assets consist of less than six (6) separate General Partnership Investments or the aggregate Investment Value of all Eligible Portfolio Assets is less than $300,000,000, or (vii) the occurrence of a Ratings Event. USActive 58800445.158806140.10 -24- SK 28388 0001 10656366 v3
Market Trigger Event means, at any date of determination, that the LTV as of such date exceeds the Maximum Monthly LTV Percentage.
Market Trigger Event means, as of any date of determination, either (a) the Portfolio LTV as of such date exceeds the Maximum LTV Percentage then applicable or (b) despite using its commercially reasonable efforts, the Borrower is unable to deliver either the preliminary feedback or the final rating levels described in Section 5.01(g) or to restore the rating from the NRSRO that previously rated the facility evidenced by this Agreement, in each case within the timeframes set forth in Section 5.01(g) therefor. Once a Market Trigger Event has occurred, it is deemed to be continuing until (i) in the case of a Market Trigger Event specified in clause (a) above, the Portfolio LTV, as of a date of determination occurring after such Market Trigger Event, (A) if such date is during the Availability Period, is less than or equal to 80% and (B) if such date is after the end of the Availability Period, is less than or equal to the Maximum LTV Percentage for such date and (ii) in the case of a Market Trigger Event specified in clause (b) above, the Borrower has caused an NRSRO to provide an equivalent rating of BBB-, BBB(low) or Baa3 or higher on the credit facility evidenced by this Agreement (and has provided the Initial Lender with a copy of all rating letters issued to the Borrower in connection therewith).
Market Trigger Event means, as at any date of determination, (i) any Event of Default has occurred and is continuing, (ii) LTV as of such date exceeds the Applicable LTV Trigger, (iii) the Borrower is unable to maintain an issuer rating or credit facility rating with respect to the credit facility evidenced by this Agreement at least equal to an investment grade rating (BBB- or higher, or the equivalent) for a period of ninety (90) days, or (iv) any Determination Date that occurs on or after twelve months prior to the Stated Maturity Date.