Maximum LTV. The LTV Percentage shall at no time exceed the Maximum Advance Rate; provided, however, that no Event of Default shall be deemed to have occurred solely as a result of the LTV Percentage exceeding the Maximum Advance Rate unless and until Borrower fails to prepay the Loans (within ten (10) Business Days after the earlier of (a) the date on which Borrower has received written notice from Lender that the LTV Percentage exceeds the Maximum Advance Rate and (b) the date on which Borrower has obtained knowledge that the LTV Percentage exceeds the Maximum Advance Rate) in an aggregate principal amount sufficient to cause the LTV Percentage to be equal to or less than the Maximum Advance Rate.
Appears in 2 contracts
Sources: Term Loan and Revolving Line of Credit Agreement, Term Loan and Revolving Line of Credit Agreement (HarbourVest - Origami Structured Solutions L.P.)