Middle Market Loan. Any Loan other than a Broadly Syndicated Loan.
Middle Market Loan means any Loan Asset that is not a Broadly Syndicated Loan.
Middle Market Loan. A Loan that (i) is not (and cannot by its terms become) subordinate in right of payment to any obligation of the related Obligor (except with respect to liquidation preferences, if any, for trade claims, working capital facilities, purchase money indebtedness, capitalized leases and other similar obligations in respect of certain specified pledged collateral, if any) in any bankruptcy, reorganization, insolvency, moratorium or liquidation proceedings, (ii) is secured by a pledge of collateral, which security interest is validly perfected and first priority under Applicable Law (subject to Liens permitted by the applicable Underlying Instruments that are reasonable and customary for similar loans, and Liens accorded priority by law in favor of the United States or any State or agency), and (iii) has a value of collateral, as determined in good faith by the Collateral Manager, securing such Loan which, together with other attributes of the related Obligor (including its enterprise value), equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding principal balances of all other loans of equal or higher seniority secured by the same collateral.
Examples of Middle Market Loan in a sentence
Xxxxx Title: President CIT ASSET MANAGEMENT CIT Middle Market Loan Trust III, as a Lender By: CIT Asset Management LLC By: /s/ Xxxxx X.
More Definitions of Middle Market Loan
Middle Market Loan. A Senior Secured Loan that is not an Upper Middle Market Loan.
Middle Market Loan means any Collateral Loan that meets the following criteria on any date of determination: (i) does not otherwise meet the definition of “Broadly Syndicated Loan”, (ii) is a First Lien Loan, First Lien Last Out Loan or a Second Lien Loan and (iii) is not a loan which is secured solely or primarily by the common stock of its Obligor or any of its Affiliates; provided that the limitation set forth in this clause (iii) shall not apply with respect to a Collateral Loan made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a Lien on its own property would (1) violate Law applicable to such subsidiary (whether the obligation secured is such Collateral Loan or any other similar type of indebtedness owing to third parties), (2) cause such subsidiary to suffer adverse economic consequences under capital adequacy, liquidity coverage or other similar rules or (3) result in material adverse tax consequences to such subsidiary or such parent in the form of a deemed dividend by such subsidiary to such parent entity for such tax purposes, in each case, so long as (x) such subsidiary does not have any indebtedness (other than current accounts payable in the ordinary course of business, capitalized leases or other similar indebtedness payable in the ordinary course of business) or the Related Documents limit the incurrence of indebtedness by such subsidiary and (y) the aggregate amount of all such indebtedness is not material relative to the aggregate value of the assets of such subsidiary.
Middle Market Loan means any Collateral Obligation that is not a Broadly Syndicated Loan.
Middle Market Loan means any Large Middle Market Loan or any Traditional Middle Market Loan.
Middle Market Loan. Any Loan that, as of the date of its acquisition by the Issuer, as reasonably determined by the Valuation Agent (i) does not have at least two dealer quotes on MarkIt Partners, or (ii) does not have a last twelve months EBITDA of at least USD 50,000,000. Monthly Period: Each period from, and including, the 15th calendar day of each calendar month (each, a Monthly Date) to, but excluding, the next following Monthly Date, except that (a) the initial Monthly Period will commence on, and include, the Closing Date and will end on, but exclude, the 15th day of June 2013 and (b) the final Monthly Period will end on, but exclude, the date on which the Notes are paid in full.
Middle Market Loan. A First Lien Loan that does not meet the criteria set forth in clauses (i)-(iii) of the definition of “Broadly Syndicated Loan”.
Middle Market Loan. Any Loan that is a Middle Market ABL Loan, Senior Secured Loan, Second Lien Loan or Subordinated Loan.