Maturity Amendments Sample Clauses
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer's behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager:
(A) the Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment or (B) if the Weighted Average Life Test was not satisfied immediately prior to giving effect to such Maturity Amendment, the level of compliance with the Weighted Average Life Test will be improved or maintained after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period; and
(ii) the following conditions are met: (A) the extended maturity date of such Collateral Obligation would not be later than two years beyond the earliest Stated Maturity of the Secured Debt and (B) after giving effect to such Maturity Amendment not more than 5.0% of the Collateral Principal Amount may consist of Collateral Obligations that have been subject to a Maturity Amendment and are Long-Dated Obligations solely due to such Maturity Amendment; provided, that, the Issuer may vote in favor of any Maturity Amendment that does not meet the requirement of clause (i) above if, as determined by the Collateral Manager, after giving effect to such Maturity Amendment, (I) not more than 10.0% of the Collateral Principal Amount will consist of Collateral Obligations subject to a Maturity Amendment that does not meet the requirement of clause (i) above and (II) the Collateral Principal Amount of Collateral Obligations subject to a Maturity Amendment that does not meet the requirement of clause (i) above, measured cumulatively from the Closing Date, is not more than 15.0% of the Target Initial Par Amount. Notwithstanding the foregoing, the Issuer may vote in favor of any Maturity Amendment that does not meet the requirements of clause (i) or (ii) above if (x) in the Collateral Manager's reasonable judgment, not voting in favor of such Maturity Amendment would have a material adverse effect on the Issuer, the Secured Debt or the Holders or (y) the Collateral Manager intends to sell the Collateral Obligation that is subject to such Maturity Amendment within 30 days after the effective date of such Maturity Amendment and the Collateral Manager reasonably believes that such sale will be completed prior to the end of such 30-day period. For the avoidance of doubt, if such sale is not completed prior to the end of such 30-day period, then such Collateral...
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer's behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager:
(A) the Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment or (B) if the Weighted Average Life Test was not satisfied immediately prior to giving effect to such Maturity Amendment, the level of compliance with the Weighted Average Life Test will be improved or maintained after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period and
(ii) the following conditions are met: (A) the extended maturity date of such Collateral Obligation would not be later than the earliest Stated Maturity of the Secured Notes and (B) after giving effect to such Maturity Amendment not more than 7.5% of the Collateral Principal Amount may consist of Collateral Obligations that have been subject to a Maturity Amendment with respect to which the Weighted Average Life Test was not satisfied after giving effect to such Maturity Amendment.
Maturity Amendments. During or after the Reinvestment Period, the Issuer (or the Collateral Manager on the Issuer’s behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager, after giving effect to such Maturity Amendment, (i) the stated maturity of the Collateral Obligation that is the subject of such Maturity Amendment is not later than the earliest Stated Maturity of the Secured Notes and (ii) either (a) the Weighted Average Life Test will be satisfied after giving effect to such amendment or (b) if the Weighted Average Life Test was not satisfied immediately prior to such amendment, (I) the level of compliance with the test will be maintained or improved and (II) the Aggregate Principal Balance of the new Collateral Obligations exchanged or deemed to be acquired through a Maturity Amendment since the Closing Date for which this clause (b) is applicable will not exceed 5.0% of the Reinvestment Target Par Balance; provided that this clause (ii) is not required to be satisfied if such amendment is being executed in connection with the restructuring of such Collateral Obligation as a result of the financial distress, or an actual or foreseeable default, bankruptcy or insolvency of the related obligor.
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer’s behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager:
Maturity Amendments. Neither the Issuer nor the Collateral Manager on behalf of the Issuer shall agree to any Maturity Amendment if, immediately following such Maturity Amendment, (i) more than 3.0% of the Collateral Principal Amount will consist of Long Dated Obligations (or, if more than 3.0% of the Collateral Principal Amount consisted of Long Dated Obligations immediately prior to such Maturity Amendment, the percentage of the Collateral Principal Amount consisting of Long Dated Obligations immediately following such Maturity Amendment is greater than the percentage of the Collateral Principal Amount consisting of Long Dated Obligations immediately prior to such Maturity Amendment) or (ii)(A) at any time during the Reinvestment Period, the Weighted Average Life Test would not be satisfied (or if the Weighted Average Life Test was not satisfied immediately prior to such Maturity Amendment, the level of compliance with the Weighted Average Life Test would not be maintained or improved immediately following such Maturity Amendment) or (B) at any time after the Reinvestment Period, the Weighted Average Life Test would not be satisfied.
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer’s behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager:
(A) the Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment or (B) if the Weighted Average Life Test was not satisfied immediately prior to giving effect to such Maturity Amendment, the level of compliance with the Weighted Average Life Test will be improved or maintained after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period and
(ii) the extended maturity date of such Collateral Obligation would not be later than two years beyond the earliest Stated Maturity of the Notes. For the avoidance of doubt, after giving effect to such Maturity Amendment, (i) the Collateral Obligation that is the subject of such Maturity Amendment must satisfy the definition of Collateral Obligation (other than clause (xvi) thereof) and (ii) the limitation set forth in clause (xx) of the definition of Concentration Limitations must be satisfied.
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer’s behalf) shall be authorized to consent to any amendment, waiver or other modification to any Collateral Obligation, including any amendment, waiver or modification that would extend the stated maturity date thereof (a “Maturity Amendment”); provided, that neither the Issuer nor the Collateral Manager on the Issuer’s behalf may agree to any Maturity Amendment (other than a Workout Loan) unless, as determined by the Collateral Manager after giving effect to any Trading Plan then in effect, (a) the Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment and (b) the stated maturity of the Collateral Obligation that is the subject of such Maturity Amendment is not later than the earliest Stated Maturity of the Debt; provided further that clause (a) in the preceding proviso shall not apply if the Issuer (or the Collateral Manager on the Issuer’s behalf) did not consent to such Maturity Amendment; provided, further, that the aggregate outstanding principal balance of all Collateral Obligations that have been subject to Maturity Amendments and are not required to comply with clause (a) in the second preceding proviso as a result of the preceding proviso at any time from the Closing Date to such date will not exceed 7.5% of the Target Initial Par Amount.
Maturity Amendments. During and after the Reinvestment Period, the Issuer (or the Collateral Manager on the Issuer's behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager, (i) (A) the Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment or (B) if the Weighted Average Life Test was not satisfied immediately prior to giving effect to such Maturity Amendment and such Maturity Amendment becomes effective during the Reinvestment Period, the level of compliance with the Weighted Average Life Test will be improved or maintained after giving effect to such Maturity Amendment, in either case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period and (ii) after giving effect to such Maturity Amendment, the stated maturity of the Collateral Obligation that is the subject of such Maturity Amendment is not later than the Stated Maturity of the Secured Notes. For the avoidance of doubt, after giving effect to such Maturity Amendment, the Collateral Obligation that is the subject of such Maturity Amendment must satisfy the definition of Collateral Obligation.
Maturity Amendments. The Investment Manager may direct the Trustee at any time without restriction to sell any Collateral Obligation that becomes subject to a proposed Maturity Amendment; provided the Investment Manager either would not be permitted to, or would not elect to, recommend that the Issuer enter into such Maturity Amendment pursuant to the Standard of Care or any provision of this Indenture or the Investment Management Agreement.
Maturity Amendments. The Issuer (or the Collateral Manager on the Issuer’s behalf) may not vote in favor of a Maturity Amendment unless, as determined by the Collateral Manager:
(A) the Maximum Weighted Average Life Test will be satisfied after giving effect to such Maturity Amendment or (B) solely during the Reinvestment Period, if the Maximum Weighted Average Life Test was not satisfied immediately prior to giving effect to such Maturity Amendment, the level of compliance with the Maximum Weighted Average Life Test will be improved or maintained after giving effect to such Maturity Amendment, in each case after giving effect to any Trading Plan in effect during the applicable Trading Plan Period; provided that in the case of a Maturity Amendment in connection with an insolvency, bankruptcy, reorganization, debt restructuring or workout of the Obligor thereof, up to 10.0% of the Total Capitalization of the applicable Portfolio may consist of Collateral Obligations that do not satisfy this clause (i) after giving effect to the related Maturity Amendment; and
(ii) the following conditions are met: (1) the extended maturity date of such Collateral Obligation would not be later than two years beyond the earliest Stated Maturity of any Class of Obligations and (2) after giving effect to such Maturity Amendment not more than 5.0% of the Total Capitalization of the applicable Portfolio may consist of Long Dated Obligations. For the avoidance of doubt, after giving effect to such Maturity Amendment, the Collateral Obligation that is the subject of such Maturity Amendment must satisfy the definition of “Collateral Obligation” other than clause (iv) of the definition thereof.