Common use of Eligibility of Collateral Clause in Contracts

Eligibility of Collateral. The Borrower has conducted such due diligence and other review as it considered necessary with respect to the Loans set forth on the Loan List. As of the Effective Date and each Funding Date, (i) the Loan List and the information contained in each Funding Notice delivered pursuant to Section 2.2, is an accurate and complete listing of all Loans included in the Collateral as of the related Funding Date and the information contained therein with respect to the identity of such Loans and the amounts owing thereunder is true, correct and complete as of the related Funding Date in all material respects, (ii) each such Loan included in the Borrowing Base is an Eligible Loan, (iii) each Loan included in the Collateral is free and clear of any Lien of any Person (other than Permitted Liens described in clause (a), clause (d) or clause (f) of the definition of “Permitted Liens”) and in compliance with all Applicable Laws and (iv) with respect to each Loan included in the Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the transfer of an ownership interest or security interest in such Collateral to the Administrative Agent as agent for the benefit of the Secured Parties have been duly obtained, effected or given and are in full force and effect.

Appears in 2 contracts

Sources: Loan, Security and Collateral Management Agreement (Phillip Street Middle Market Lending Fund LLC), Loan, Security and Collateral Management Agreement (Phillip Street Middle Market Lending Fund LLC)

Eligibility of Collateral. The Borrower has conducted such due diligence and other review as it considered necessary with respect to the Loans set forth on the Loan List. As of the Effective Date and each Funding Date, (i) the The Loan List Tape and the information contained in each Funding Borrowing Notice or each Repayment Notice, as applicable, delivered pursuant to Section 2.2Sections 2.2 or 2.3, as applicable, is an accurate and complete listing in all material respects of all Loans included in the Collateral as of the related Funding Date and the information contained therein with respect to the identity of such Loans Collateral and the amounts owing thereunder is true, correct and complete as of the related Funding Date in all material respectsDate, (ii) each such Loan designated on any Borrowing Base Certificate as an Eligible Loan and each Loan included as an Eligible Loan in the any calculation of Borrowing Base is an Eligible Loan, (iii) each Loan included in the such item of Collateral is free and clear of any Lien of any Person (other than Permitted Liens described in clause (a), clause (d) or clause (f) of the definition of “Permitted Liens) and in compliance with all Applicable Laws Law and (iv) with respect to each Loan included in the such item of Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the transfer pledge of an ownership interest or a security interest in such Collateral to the Administrative Agent as agent Collateral Agent, for the benefit of the Secured Parties have been duly obtained, effected or given and are in full force and effect.

Appears in 2 contracts

Sources: Loan and Servicing Agreement (Franklin BSP Lending Corp), Loan and Servicing Agreement (Business Development Corp of America)

Eligibility of Collateral. The Borrower has conducted such due diligence and other review as it considered necessary with respect to the Loans set forth on the Loan List. As of the Effective Closing Date and each Funding Date, (i) the Loan List and the information contained in each Funding Notice delivered pursuant to Section 2.2, is an accurate and complete listing of all Loans included in the Collateral as of the related Funding Date and the information contained therein with respect to the identity of such Loans and the amounts owing thereunder is true, correct and complete as of the related Funding Date in all material respectsDate, (ii) each such Loan included in the Borrowing Base is an Eligible Loan, (iii) each Loan included in the Collateral is free and clear of any Lien of any Person (other than Permitted Liens described in clause (a), clause (d) or clause (fd) of the definition of Permitted Liens) and in compliance with all Applicable Laws and (iv) with respect [Investcorp] Loan and Security Agreement to each Loan included in the Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the transfer of an ownership interest or security interest in such Collateral to the Administrative Agent as agent for the benefit of the Secured Parties have been duly obtained, effected or given and are in full force and effect.

Appears in 1 contract

Sources: Loan, Security and Investment Management Agreement (Investcorp Credit Management BDC, Inc.)

Eligibility of Collateral. The Borrower has conducted such due diligence and other review as it considered necessary with respect to the Loans set forth on the Loan List. As of the Effective Date and each Funding Date, (i) the Loan List and the information contained in each Funding Notice delivered pursuant to Section 2.2, is an accurate and complete listing of all Loans included in the Collateral as of the related Funding Date and the information contained therein with respect to the identity of such Loans and the amounts owing thereunder is true, correct and complete as of the related Funding Date in all material respectsDate, (ii) each such Loan included in the Borrowing Base is an Eligible Loan, (iii) each Loan included in the Collateral is free and clear of [Willow Tree BDC] Amended and Restated Loan, Security and Collateral Management Agreement #506694681 any Lien of any Person (other than Permitted Liens described in clause (a), clause (d) or clause (f) of the definition of “Permitted Liens) and in compliance with all Applicable Laws in all material respects and (iv) with respect to each Loan included in the Collateral, all consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the transfer of an ownership interest or the security interest in such Collateral to the Administrative Agent as agent for the benefit of the Secured Parties have been duly obtained, effected or given and are in full force and effect.

Appears in 1 contract

Sources: Loan, Security and Collateral Management Agreement (Willow Tree Capital Corp)

Eligibility of Collateral. The Borrower has conducted such due diligence and other review as it considered necessary with respect to the Loans set forth on the Loan ListSchedule III. As of the Amendment and Restatement Effective Date and each Funding DateDate thereafter, (i) the Loan List and the information contained in each Funding Notice delivered pursuant to Section 2.2, is an accurate and complete listing in all material respects of all Loans included in the Collateral as of the related Funding Date and the information contained therein with respect to the identity of such Loans and the amounts owing thereunder is true, correct and complete in all material respects as of the related Funding Date in all material respectsDate, (ii) each such Loan included in the Borrowing Base is an Eligible Loan, (iii) each Loan included in the Collateral is free and clear of any Lien of any Person (other than Permitted Liens described in clause (a), clause (d) or clause (f) of the definition of “Permitted Liens) and in compliance with all Applicable Laws in all material respects and (iv) with respect to each Loan included in the Collateral, all material consents, licenses, approvals or authorizations of or registrations or declarations of any Governmental Authority or any Person required to be obtained, effected or given by the Borrower in connection with the transfer of an ownership interest or security interest in such Collateral to the Administrative Agent as agent for the benefit of the Secured Parties have been duly obtained, effected or given and are in full force and effect.

Appears in 1 contract

Sources: Loan and Security Agreement (New Mountain Finance Corp)