Monthly. On each Monthly Report Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower shall compile and provide to the Agents, the Portfolio Manager and the Lenders, a monthly report on a trade basis (each a “Monthly Report”), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for a calendar month shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf of the Borrower, shall deliver to the Portfolio Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt of each draft Monthly Report, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 3 contracts
Sources: Credit and Security Agreement (BlackRock Private Credit Fund), Credit and Security Agreement (BlackRock Private Credit Fund), Credit and Security Agreement (BlackRock Private Credit Fund)
Monthly. On each Monthly Report Date, the Borrower (or the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower its behalf) shall compile and provide (or cause to be compiled and provided) to DBRS, the Agents, the Portfolio Collateral Manager and the Lenders, a monthly report on a trade settlement basis (each a “"Monthly Report”"), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be was delivered in July 2022. The October 2012 and the final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for a calendar month Monthly Report Period shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar monthMonthly Report Period. Simultaneous with the delivery of each Monthly Report, the Borrower (or the Collateral Manager) shall provide a certificate to DBRS, the Lenders and the Agents certifying that no Default or Event of Default occurred during the Monthly Report Period covered by such Monthly Report or if any Default or Event of Default occurred during such Monthly Report Period, setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto. In addition, the Collateral Manager shall provide for inclusion in each Monthly Report a statement setting forth in reasonable detail each amendment, modification or waiver under any Related Document for each Collateral Obligation that became effective during the Monthly Report Period. Three Business Days prior to each Monthly Report Date, the Borrower (or the Collateral Agent, pursuant to Section 8.10 hereof, Agent on behalf of the Borrower, its behalf) shall deliver to the Portfolio Collateral Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalDate. Upon receipt of each draft Monthly Report, the Portfolio Collateral Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Collateral Manager with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Collateral Manager shall within 1 one Business Day request that the Independent Accountants a firm of independent certified public accountants of nationally recognized standing appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the records of the Collateral Agent’s records Agent to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the records of the Collateral Agent’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) shall direct records of the Collateral Agent to revise the Monthly Report and its records shall be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 2 contracts
Sources: Credit and Security Agreement (WhiteHorse Finance, Inc.), Credit and Security Agreement (WhiteHorse Finance, Inc.)
Monthly. On Not later than the 18th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than January, April, July and October in each year) and commencing in November 2025, the Issuer shall compile and make available (or cause to be compiled and made available) to the Rating Agency, the Collateral Agent pursuant to Section 8.10 hereofTrustee, the Loan Agent, the Collateral Manager, the Initial Purchaser, any Holder shown on behalf the Register of the Borrower shall compile any Debt and provide any beneficial owner of Debt who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Collateral Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “"Monthly Report”"). As used herein, determined as of the close of business on the related "Monthly Report Determination Date. The first Monthly Report shall " with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth 10th Business Day prior to the Final Maturity Date18th calendar day of such calendar month. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the aggregate outstanding principal balance of Collateral AgentObligations, pursuant to Section 8.10 hereof, on behalf the aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to the each such Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy existsObligation, the Collateral Agent and following information:
(A) The obligor thereon (including the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolvedissuer ticker, if any);
(B) The CUSIP, LoanX-ID (if any) or security identifier thereof;
(C) The Principal Balance thereof, the Portfolio Manager shall within 1 Business Day request outstanding principal balance thereof (in each case, other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)) and any unfunded commitment pertaining thereto;
(D) The percentage of the Independent Accountants appointed aggregate Collateral Principal Amount represented by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
Appears in 2 contracts
Sources: Indenture (Golub Capital Private Credit Fund), Indenture (Golub Capital Private Credit Fund)
Monthly. On each Monthly Report Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower shall compile and provide (or cause to be compiled and provided) to DBRS, the Agents, the Portfolio Investment Manager and the Lenders, a monthly report on a trade settlement basis (each a “Monthly Report”), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022May 2012 and shall be determined with respect to the Monthly Report Determination Date that is six Business Days prior to the Monthly Report Date in May 2012. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on with respect to the sixth Monthly Report Determination Date that is six Business Day Days prior to the Final Maturity Date. The Monthly Report for a calendar month shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar month. Simultaneous with the delivery of each Monthly Report, the Borrower (or the Investment Manager) shall provide a certificate certifying that no Default or Event of Default occurred during the period covered by such Monthly Report or if any Default or Event of Default occurred during such period, setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto. In addition, the Investment Manager shall provide for inclusion in each Monthly Report a statement setting forth in reasonable detail each amendment, modification or waiver under any Related Document for each Collateral Obligation that became effective during the one month period ending on the Monthly Report Determination Date for the immediately prior Monthly Report (or, in respect of the first Monthly Report, from the Original Closing Date). Three Business Days prior to each Monthly Report Date, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf of the Borrower, Borrower shall deliver to the Portfolio Investment Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalDate. Upon receipt of each draft Monthly Report, the Portfolio Investment Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Investment Manager with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Investment Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Investment Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Collateral Agent’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 2 contracts
Sources: Credit and Security Agreement (TPG Specialty Lending, Inc.), Revolving Credit and Security Agreement (TPG Specialty Lending, Inc.)
Monthly. On each Monthly Report Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower shall compile and provide to the Agents, the Portfolio Manager and the Lenders, a monthly report on a trade basis (each a “Monthly Report”), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for a calendar month shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf of the Borrower, shall deliver to the Portfolio Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt of each draft Monthly Report, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making 107 all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 1 contract
Sources: Credit and Security Agreement (BlackRock Private Credit Fund)
Monthly. On Not later than the 5th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly calendar month (other than any month for which a Distribution Report Dateis prepared and made available) and commencing in November 2020, the Issuer shall compile and make available (or cause to be compiled and made available) to the Rating Agency, the Collateral Agent pursuant to Section 8.10 hereofAgent, the Loan Agent, the Collateral Manager, the Initial Purchaser, any Holder shown on behalf the Register of the Borrower shall compile Debt and provide any beneficial owner of Debt who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth tenth Business Day prior to the Final Maturity Date5th calendar day of such calendar month. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the aggregate outstanding principal balance of Collateral AgentObligations, pursuant to Section 8.10 hereof, on behalf the aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to the each such Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy existsObligation, the Collateral Agent and following information:
(A) The obligor thereon (including the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolvedissuer ticker, if any);
(B) The CUSIP, LoanX-ID (if any) or security identifier thereof;
(C) The Principal Balance thereof, the Portfolio Manager shall within 1 Business Day request outstanding principal balance thereof (in each case, other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)) and any unfunded commitment pertaining thereto;
(D) The percentage of the Independent Accountants appointed aggregate Collateral Principal Amount represented by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
Appears in 1 contract
Sources: Indenture (GOLUB CAPITAL BDC, Inc.)
Monthly. On Not later than the 20th day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than a month in which a Payment Date occurs) and commencing in August 2025, the Issuer shall compile and make available (or cause to be compiled and made available) to each Rating Agency, the Collateral Agent pursuant to Section 8.10 hereofTrustee, the Loan Agent, the Collateral Manager, the Placement Agent, any Class A-1 Lender listed on behalf the Loan Register, each Holder listed on the Note Register and any beneficial owner of the Borrower shall compile and provide a Note who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the LendersCollateral Trustee, a monthly report on a trade date basis (except as otherwise expressly provided in this Indenture) (each such report a “"Monthly Report”"). As used herein, determined as of the close of business on the related "Monthly Report Determination Date. The first " with respect to any calendar month will be the tenth Business Day preceding the date the Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Dateis made available. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the close of business on the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to the each such Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy existsObligation, the following information:
(A) The obligor thereon (including the issuer ticker, if any);
(B) The CUSIP or security identifier thereof; ‑198‑
(C) The Principal Balance thereof (other than any accrued interest that was purchased with Principal Proceeds) and any unfunded commitment pertaining thereto;
(D) The percentage of the aggregate Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If Principal Amount represented by such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
Appears in 1 contract
Sources: Indenture and Security Agreement (PennantPark Floating Rate Capital Ltd.)
Monthly. On Not later than the eighth Business Day after the last day of each Monthly Report Datemonth (except for months preceding a month in which a Distribution Date occurs, in which case delivery shall occur in conjunction with delivery of the Note Valuation Report) commencing with the eighth Business Day after the last day of September 2005, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Issuer shall compile and provide to the Agentseach Rating Agency, the Portfolio Manager Trustee, the Collateral Manager, the Repository and each Transfer Agent and, upon written request therefor, any Holder of a Note shown on the LendersNote Register, the Hedge Counterparty, any Certifying Person and any Preferred Shareholder a monthly report on a trade basis (each a the “Monthly Report”). The Monthly Report shall contain the following information and instructions with respect to the Pledged Securities included in the Collateral, determined as of the close last day of business on such calendar month or, in the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for case of a calendar month shall contain in which a Distribution Date occurs, the information Determination Date relating to such Distribution Date:
(1) (x) the Aggregate Principal Balance of all Collateral Debt Securities, together with a calculation, in reasonable detail, of the sum of (A) the Aggregate Principal Balance of all Collateral Debt Securities (other than Defaulted Securities and Deferred Interest Collateral Debt Securities), plus (B) with respect to each Defaulted Security or Deferred Interest Collateral Debt Security, the Facility Calculation Amount of such Defaulted Security or Deferred Interest Collateral Debt Security and (y) the Aggregate Principal Balance of all Collateral Debt Securities on the Ramp-Up Completion Date;
(2) the Balance of all Eligible Investments and Cash in each of the Interest Collection Account, the Principal Collection Account, the Expense Account and the Collateral Obligations Interest Reserve Account;
(3) the nature, source and Eligible Investments included amount of any proceeds in the Collection Accounts, including Interest Proceeds, Principal Proceeds and Sale Proceeds, received since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(4) with respect to each Collateral set forth Debt Security and each Eligible Investment that is part of the Collateral, its Principal Balance, annual interest rate, Stated Maturity and issuer thereof;
(5) the identity of each Collateral Debt Security that was sold or disposed of pursuant to Section 12.1 indicating whether such Collateral Debt Security is a Defaulted Security, Credit Risk Security or Equity Security (as reported in Part 1 writing to the Issuer by the Collateral Manager) and whether such Collateral Debt Security was sold pursuant to Section 12.1(a)(i), (ii) or (iii) or Granted to the Trustee since the date of Schedule 2 heretodetermination of the most recent Monthly Report or, and shall be determined in the case of the first Monthly Report, since the Closing Date;
(6) the identity of each Collateral Debt Security that has become a Defaulted Security, Deferred Interest Collateral Debt Security, Credit Risk Security or Equity Security since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(7) the identity of each Collateral Debt Security, the related Real Estate Entity of which failed to satisfy any two of the three REIT/REOC Coverage Tests as of the date of determination of the last Monthly Report Determination Date or, in the case of the first Monthly Report, since the Ramp-Up Completion Date.
(8) the Aggregate Principal Balance of all Collateral Debt Securities that have a Stated Maturity later than the Stated Maturity of the Notes;
(9) the Aggregate Principal Balance of (A) all Fixed Rate Collateral Debt Securities, (B) all Floating Rate Collateral Debt Securities, (C) all Deemed Fixed Rate Collateral Debt Securities and (D) all Deemed Floating Rate Collateral Debt Securities;
(10) the Aggregate Principal Balance of all Trust Preferred Securities;
(11) the Aggregate Principal Balance of all Subordinated Notes;
(12) the Aggregate Principal Balance of all Senior Notes;
(13) the Aggregate Principal Balance of all CMBS;
(14) the Aggregate Principal Balance of all Collateral Debt Securities that provide for such calendar month. Three Business Days prior to each Monthly Report Dateperiodic payments of interest in Cash less frequently than quarterly;
(15) the Weighted Average Spread, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf Weighted Average Hybrid Coupon and the Weighted Average Coupon of the BorrowerCollateral Debt Securities;
(16) a calculation in reasonable detail necessary to determine compliance with each Coverage Test, shall deliver and, in the case of each Overcollateralization Test, a calculation of the Class A/B Overcollateralization Ratio, the Class C Overcollateralization Ratio, the Class D Overcollateralization Ratio, the Class E Overcollateralization Ratio, and the Class F Overcollateralization Ratio and, in the case of each Interest Coverage Test, a calculation of the Class A/B Interest Coverage Ratio, the Class C Interest Coverage Ratio, the Class D Interest Coverage Ratio, the Class E Interest Coverage Ratio and the Class F Interest Coverage Ratio;
(17) a calculation in reasonable detail necessary to determine compliance with the REIT/REOC Coverage Test;
(18) the occurrence of any REIT/REOC Trigger Event and the identity of the related Real Estate Entity and Collateral Debt Security;
(19) the respective percentage of the Net Outstanding Portfolio Collateral Balance for each aggregate amount referred to in clauses (7) through (14) above;
(20) calculation in reasonable detail necessary to determine compliance with the Standard & Poor’s CDO Monitor Test; and
(21) any changes to the Portfolio Manager a draft identity of the Monthly Report relating to such Monthly Report Date for review and approvalHedge Counterparty. Upon receipt of each draft Monthly Report, the Portfolio Manager Trustee (so long as it is not also acting as the Collateral Administrator) shall compare the information contained in such Monthly Report therein to the information contained in its records with respect to the Collateral and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Trustee with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent Trustee, the Issuer and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Trustee shall within 1 five Business Day request that Days cause the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 10.9 to review such draft Monthly Report and the Collateral AgentTrustee’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral AgentTrustee’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Trustee’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture. On or prior to the Ramp-Up Completion Date and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent together with each Monthly Report, the Issuer shall provide to S&P the Excel CDO Monitor Input File and, with respect to each Collateral Debt Security, the name of each obligor thereon, the CUSIP number thereof (if applicable) and the S&P Priority Category thereof.
Appears in 1 contract
Monthly. On Not later than the 25th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than January, April, July, and October in each year beginning in 2014) and commencing in August 2014, the Issuer shall compile and make available (or cause to be compiled and made available) to each Rating Agency, the Trustee, the Collateral Agent pursuant to Section 8.10 hereofManager, the Initial Purchaser, any Holder shown on behalf the Register of the Borrower shall compile a Note and provide any beneficial owner of a Note who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth tenth Business Day prior to the Final Maturity Date25th day of such calendar month. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the aggregate outstanding principal balance of Collateral AgentObligations, pursuant to Section 8.10 hereof, on behalf the aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to the each such Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy existsObligation, the Collateral Agent and following information:
(A) The obligor thereon (including the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolvedissuer ticker, if any);
(B) The CUSIP or security identifier thereof;
(C) The Principal Balance thereof, the Portfolio Manager shall within 1 Business Day request outstanding principal balance thereof (in each case, other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)) and any unfunded commitment pertaining thereto;
(D) The percentage of the Independent Accountants appointed aggregate Collateral Principal Amount represented by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
Appears in 1 contract
Sources: Indenture (Golub Capital BDC, Inc.)
Monthly. On each Monthly Report Date, the Borrower (or the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower its behalf) shall compile and provide (or cause to be compiled and provided) to DBRS, the Agents, the Portfolio Collateral Manager and the Lenders, a monthly report on a trade settlement basis (each a “Monthly Report”), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The October 2012 and the final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for a calendar month Monthly Report Period shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar monthMonthly Report Period. Simultaneous with the delivery of each Monthly Report, the Borrower (or the Collateral Manager) shall provide a certificate to DBRS, the Lenders and the Agents certifying that no Default or Event of Default occurred during the Monthly Report Period covered by such Monthly Report or if any Default or Event of Default occurred during such Monthly Report Period, setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto. In addition, the Collateral Manager shall provide for inclusion in each Monthly Report a statement setting forth in reasonable detail each amendment, modification or waiver under any Related Document for each Collateral Obligation that became effective during the Monthly Report Period. Three Business Days prior to each Monthly Report Date, the Borrower (or the Collateral Agent, pursuant to Section 8.10 hereof, Agent on behalf of the Borrower, its behalf) shall deliver to the Portfolio Collateral Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalDate. Upon receipt of each draft Monthly Report, the Portfolio Collateral Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Collateral Manager with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Collateral Manager shall within 1 one Business Day request that the Independent Accountants a firm of independent certified public accountants of nationally recognized standing appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the records of the Collateral Agent’s records Agent to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the records of the Collateral Agent’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) shall direct records of the Collateral Agent to revise the Monthly Report and its records shall be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (WhiteHorse Finance, LLC)
Monthly. On Not later than the 15th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than the calendar months in which a Payment Date occurs) and commencing in January 2024, the Issuer shall compile and make available (or cause to be compiled and made available) to the Rating Agency, the Trustee, the Collateral Agent pursuant to Section 8.10 hereofManager, the Initial Purchaser and each other Holder shown on behalf the Register and any beneficial owner of the Borrower shall compile and provide a Note who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “"Monthly Report”"). As used herein, determined as of the close of business on the related "Monthly Report Determination Date. The first " with respect to any calendar month will be the 10th Business Day preceding the date the Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Dateis made available. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the close of business on the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to each such Collateral Obligation, the Collateral and shallfollowing information:
(A) The obligor thereon (including the issuer ticker, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform any);
(B) The LoanX ID (to the information maintained extent available) and any other security identifier thereof;
(C) The Principal Balance thereof (other than any accrued interest that was purchased with Principal Proceeds) and any unfunded commitment pertaining thereto;
(D) The percentage of the aggregate Collateral Principal Amount represented by the Portfolio Manager with respect to the such Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
Appears in 1 contract
Sources: Indenture (MSD Investment Corp.)
Monthly. On Not later than the 15th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than February, May, August and November, in each year) and commencing in November 2025, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Issuer shall compile (or cause to be compiled) and provide give to the Agents, the Portfolio Collateral Manager and the LendersTrustee (who shall make available to each Rating Agency, the Placement Agent, any other Holder shown on the Registers for any Debt, any beneficial owner of any Debt who has delivered a Beneficial Ownership Certificate to the Trustee and the Investor Information Services by posting such report to its website), a monthly report on a trade date basis (each such report a “Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth second Business Day prior to the Final Maturity Dateof such calendar month. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Assets, based on information provided by the Collateral set forth in Part 1 of Schedule 2 heretoManager, and shall be determined as of the close of business on the Monthly Report Determination Date for such calendar month. Three Business Days :
(i) Aggregate Principal Balance of Collateral Obligations, the aggregate unfunded commitments of the Collateral Obligations, any capitalized interest on the Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of Collateral Obligations.
(iii) Collateral Principal Amount of Collateral Obligations.
(iv) A list of Collateral Obligations, including, with respect to each such Collateral Obligation, the following information:
(A) The obligor thereon (including the issuer ticker, if any);
(B) The number, identity, Bloomberg Loan ID, FIGI, ISIN, Loan/X, CUSIP or security identifier thereof (as applicable);
(C) The Principal Balance thereof (other than any accrued interest that was purchased with Principal Proceeds) and any unfunded commitment pertaining thereto;
(D) The percentage of the aggregate Collateral Principal Amount represented by such Collateral Obligation;
(E) (x) The related interest rate or spread (in the case of a Reference Rate Floor Obligation, calculated both with and without regard to the excess of any applicable specified “floor” rate per annum over the Reference Rate in effect for the current Interest Accrual Period), (y) if such Collateral Obligation is a Reference Rate Floor Obligation, the related Reference Rate floor and (z) the identity of any Collateral Obligation that is not a Reference Rate Floor Obligation and for which interest is calculated with respect to any index other than the Reference Rate;
(F) The stated maturity thereof;
(G) [Reserved];
(H) [Reserved];
(I) The country of Domicile;
(J) An indication as to whether each such Collateral Obligation is (1) a Senior Secured Loan, (2) a Second Lien Loan, (3) a Defaulted Obligation, (4) a Delayed Drawdown Collateral Obligation, (5) a Revolving Collateral Obligation, (6) a Participation Interest (indicating the related Selling Institution, if applicable, and its ratings by ▇▇▇▇▇’▇ or ▇▇▇▇▇), (7) a Permitted Deferrable Obligation, (8) a Fixed Rate Obligation, (9) a Current Pay Obligation, (10) a Discount Obligation, (11) a Discount Obligation purchased in the manner described in clause (y) of the proviso to the definition “Discount Obligation”, (12) a DIP Collateral Obligation, (13) a First-Lien Last-Out Loan, (14) a Cov-Lite Loan, (15) a Credit Improved Obligation, (16) a Credit Risk Obligation and (17) an S&P Cov-Lite Loan;
(K) With respect to each Collateral Obligation that is a Discount Obligation purchased in the manner described in clause (y) of the proviso to the definition “Discount Obligation”,
(I) the identity of the Collateral Obligation (including whether such Collateral Obligation was classified as a Discount Obligation at the time of its original purchase) the proceeds of whose sale are used to purchase the purchased Collateral Obligation;
(II) the purchase price (as a percentage of par) of the purchased Collateral Obligation and the sale price (as a percentage of par) of the Collateral Obligation the proceeds of whose sale are used to purchase the purchased Collateral Obligation; and
(III) the Aggregate Principal Balance of Collateral Obligations that have been excluded from the definition of “Discount Obligation” and relevant calculations indicating whether such amount is in compliance with the limitations described in clauses (i)(A) and (i)(B) of the proviso to the definition of “Discount Obligation;”
(L) The S&P Recovery Rate;
(M) The Fitch Rating Factor, if publicly available;
(N) The Fitch Recovery Rate, if publicly available (including the applicable Fitch recovery rating and Fitch recovery rate in accordance with the definition of “Fitch Recovery Rate”);
(O) The S&P Rating, unless such rating is based on a credit estimate or is a private or confidential rating from S&P;
(P) The most recently calculated EBITDA for the related Obligor (as provided by the Collateral Manager to the Trustee);
(Q) The Fitch Rating of such Collateral Obligation;
(R) The Fitch Industry Classification of each Collateral Obligation, if applicable; and
(S) The Fitch Rating Reporting Items.
(v) If the Monthly Report Determination Date occurs on or after the Effective Date, for each of the limitations and tests specified in the definitions of Concentration Limitations and Collateral Quality Test, (1) the result, (2) the related minimum or maximum test level and (3) if such Monthly Report Determination Date occurs on or prior to the last day of the Reinvestment Period, a determination as to whether such result satisfies the related test.
(vi) The calculation of each of the following:
(A) Each Interest Coverage Ratio (and setting forth the percentage required to satisfy each Interest Coverage Test); and
(B) Each Overcollateralization Ratio (and setting forth the percentage required to satisfy each Overcollateralization Ratio Test).
(vii) The calculation specified in Section 5.1(e).
(viii) The identity of each Defaulted Obligation, the S&P Collateral Value, the Fitch Collateral Value and Market Value of each such Defaulted Obligation and date of default thereof.
(ix) The identity of each Collateral Obligation with an S&P Rating of “CCC-” or below and, if the CCC Excess is greater than zero, the Market Value of each such Collateral Obligation.
(x) The identity of each Deferring Obligation, the S&P Collateral Value, the Fitch Collateral Value and Market Value of each Deferring Obligation, and the date on which interest was last paid in full in Cash thereon.
(xi) The identity of each Current Pay Obligation, the Market Value of each such Current Pay Obligation, and the percentage of the Collateral Principal Amount comprised of Current Pay Obligations.
(xii) The identity and principal amount of each Long Dated Obligation, Workout Loan, Restructured Obligation, and all other Equity Securities held by the Issuer.
(xiii) For each Monthly Report after the S&P CDO Monitor Formula Election Date, :
(A) The Default Rate Dispersion;
(B) The S&P Weighted Average Rating Factor;
(C) The S&P Obligor Diversity Measure;
(D) The S&P Industry Diversity Measure;
(E) The S&P Regional Diversity Measure; and
(F) The S&P Weighted Average Life.
(xiv) A copy of the notice provided by the Collateral Agent, Manager pursuant to Section 8.10 hereof12.2(b) hereof setting forth the details of any Trading Plan (including the proposed amendments and/or proposed investments identified by the Collateral Manager for acquisition or entry, on behalf as applicable, as part of such Trading Plan (which details shall be reported by providing a copy of the Borrower, shall deliver to notice from the Portfolio Collateral Manager on a draft dedicated page of the Monthly Report relating Report)).
(xv) The identity of each Collateral Obligation subject to a Maturity Amendment during the related calendar month and the details of any such Maturity Amendment (which details shall be reported on a dedicated page of the Monthly Report) and confirmation that not more than 7.5% of the Target Initial Par Amount consists of Collateral Obligations subject to a Credit Amendment that does not meet the requirement described in Section 7.20(a) (as provided by the Collateral Manager to the Trustee).
(A) On a dedicated page of the Monthly Report, a statement from the Issuer (or the Collateral Manager on its behalf) that the transaction is structured to comply with the U.S. Risk Retention Rules and the EU/UK Risk Retention Requirements, as disclosed in the Offering Circular, through (i) the retention by the EU/UK Retention Holder of the EU/UK Retention Interest (via its 100% ownership of all of the equity interests in the Depositor) and (ii) the retention by the Depositor of the U.S. Retention Interest.
(B) With respect to the EU/UK Retention Interest: (A) confirmation that the Collateral Administrator has received written confirmation from the EU/UK Retention Holder that (x) the Depositor and it (via its 100% ownership of all of the equity interests in the Depositor) continues to hold the EU/UK Retention Interest and (y) it has not sold, hedged or otherwise mitigated its credit risk under or associated with the EU/UK Retention Interest or the underlying portfolio of Collateral Obligations, except to the extent permitted in accordance with the EU/UK Risk Retention Requirements; (B) as calculated by the Collateral Manager, the calculation of 5% (or such lower amount if such lower amount is required or allowed under the EU Securitization Regulation and the UK Securitization Framework as a result of amendment, repeal or otherwise) of the EU/UK Retention Basis Amount as of the most recent Determination Date for the purposes of the Collateral Manager’s determination of whether an EU/UK Retention Deficiency has occurred; and (C) confirmation from the Collateral Manager as to whether, since the last Monthly Report Determination Date, an actual or potential EU/UK Retention Deficiency has prohibited the Collateral Manager from reinvesting in any Collateral Obligations.
(xvii) The balance of all Eligible Investments and cash in each of the Accounts.
(xviii) The name of the financial institution that holds each Account and the applicable ratings by the applicable Rating Agency required under Section 10.1 for such institution.
(xix) On a dedicated page of the Monthly Report, the amount of any Contributions received by the Issuer pursuant to Section 10.6 since the previous Monthly Report Determination Date.
(xx) With respect to the Closing Date Participation Interests, as provided by the Issuer or the Collateral Manager on its behalf:
(A) the identity of the underlying issuer, the related Selling Institution, the related facility name and the related loan identification;
(B) the expected timing of elevation;
(C) the principal amount of any unelevated Closing Date Participation Interests; and
(D) the reason, if any, for review any delay of elevation.
(i) The ratio of credit estimates and approval(ii) the ratio of private ratings.
(xxii) Such other information as each Rating Agency or the Collateral Manager may reasonably request and as may be reasonably available to the Collateral Administrator at no undue burden or expense. For each instance in which the Market Value is reported pursuant to the foregoing, the Monthly Report shall also indicate the manner in which such Market Value was determined and the source(s) (if applicable) used in such determination (as provided by the Collateral Manager to the Collateral Administrator). Upon receipt of each draft Monthly Report, the Portfolio Manager Trustee shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral Assets and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer (and the Issuer shall notify each Rating Agency), the Collateral Administrator and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Trustee with respect to the Collateral or whether such Monthly Report is approvedAssets. In the event that If any discrepancy exists, the Issuer, or the Collateral Agent and Manager on behalf of the Portfolio Manager Issuer, shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Trustee shall within 1 ten (10) Business Day Days notify the Collateral Manager who shall, on behalf of the Issuer, request that the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 10.10 review such draft Monthly Report and the Collateral AgentTrustee’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral AgentTrustee’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Trustee’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower Issuer to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 1 contract
Monthly. On each Monthly Report Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower shall compile and provide (or cause to be compiled and provided) to DBRS, the Agents, the Portfolio Investment Manager and the Lenders, a monthly report on a trade settlement basis (each a “Monthly Report”), determined as of the close of business on the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022May 2012 and shall be determined with respect to the Monthly Report Determination Date that is six Business Days prior to the Monthly Report Date in May 2012. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on with respect to the sixth Monthly Report Determination Date that is six Business Day Days prior to the Final Maturity Date. The Monthly Report for a calendar month shall contain the information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for such calendar month. Simultaneous with the delivery of each Monthly Report, the Borrower (or the Investment Manager) shall provide a certificate certifying that no Default or Event of Default occurred during the period covered by such Monthly Report or if any Default or Event of Default occurred during such period, setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto. In addition, the Investment Manager shall provide for inclusion in each Monthly Report a statement setting forth in reasonable detail each amendment, modification or waiver under any Related Document for each Collateral Obligation that became effective during the one month period ending on the Monthly Report Determination Date for the immediately prior Monthly Report (or, in respect of the first Monthly Report, from the Closing Date). Three Business Days prior to each Monthly Report Date, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf of the Borrower, Borrower shall deliver to the Portfolio Investment Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalDate. Upon receipt of each draft Monthly Report, the Portfolio Investment Manager shall compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Investment Manager with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Investment Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Investment Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Collateral Agent’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (TPG Specialty Lending, Inc.)
Monthly. On Not later than the eighth Business Day after the last day of each Monthly Report Datemonth (except for months preceding a month in which a Distribution Date occurs, in which case delivery shall occur in conjunction with delivery of the Note Valuation Report) commencing with the eighth Business Day after the last day of January 2006, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Issuer shall compile and provide to the Agentseach Rating Agency, the Portfolio Manager Trustee, the Collateral Manager, the Repository and each Transfer Agent and, upon written request therefor, any Holder of a Note shown on the LendersNote Register, the Hedge Counterparty, any Certifying Person and any Preferred Shareholder a monthly report on a trade basis (each a the “Monthly Report”). The Monthly Report shall contain the following information and instructions with respect to the Pledged Securities included in the Collateral, determined as of the close last day of business on such calendar month or, in the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for case of a calendar month shall contain in which a Distribution Date occurs, the information Determination Date relating to such Distribution Date:
(1) (x) the Aggregate Principal Balance of all Collateral Debt Securities, together with a calculation, in reasonable detail, of the sum of (A) the Aggregate Principal Balance of all Collateral Debt Securities (other than Defaulted Securities and Deferred Interest Collateral Debt Securities), plus (B) with respect to each Defaulted Security or Deferred Interest Collateral Debt Security, the Facility Calculation Amount of such Defaulted Security or Deferred Interest Collateral Debt Security and (y) the Aggregate Principal Balance of all Collateral Debt Securities on the Ramp-Up Completion Date;
(2) the Balance of all Eligible Investments and Cash in each of the Interest Collection Account, the Principal Collection Account, the Expense Account and the Collateral Obligations Interest Reserve Account;
(3) the nature, source and Eligible Investments included amount of any proceeds in the Collection Accounts, including Interest Proceeds, Principal Proceeds and Sale Proceeds, received since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(4) with respect to each Collateral set forth Debt Security and each Eligible Investment that is part of the Collateral, its Principal Balance, annual interest rate, Stated Maturity and issuer thereof;
(5) the identity of each Collateral Debt Security that was sold or disposed of pursuant to Section 12.1 indicating whether such Collateral Debt Security is a Defaulted Security, Credit Risk Security or Equity Security (as reported in Part 1 writing to the Issuer by the Collateral Manager) and whether such Collateral Debt Security was sold pursuant to Section 12.1(a)(i), (ii) or (iii) or Granted to the Trustee since the date of Schedule 2 heretodetermination of the most recent Monthly Report or, and shall be determined in the case of the first Monthly Report, since the Closing Date;
(6) the identity of each Collateral Debt Security that has become a Defaulted Security, Deferred Interest Collateral Debt Security, Credit Risk Security or Equity Security since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(7) the identity of each Collateral Debt Security, the related Real Estate Entity of which failed to satisfy any two of the three REIT/REOC Coverage Tests as of the date of determination of the last Monthly Report Determination Date or, in the case of the first Monthly Report, since the Ramp-Up Completion Date.
(8) the Aggregate Principal Balance of all Collateral Debt Securities that have a Stated Maturity later than the Stated Maturity of the Notes;
(9) the Aggregate Principal Balance of (A) all Fixed Rate Collateral Debt Securities, (B) all Floating Rate Collateral Debt Securities, (C) all Deemed Fixed Rate Collateral Debt Securities and (D) all Deemed Floating Rate Collateral Debt Securities;
(10) the Aggregate Principal Balance of all Trust Preferred Securities;
(11) the Aggregate Principal Balance of all Subordinated Notes;
(12) the Aggregate Principal Balance of all Primary Senior Notes and the Aggregate Principal Balance of all Secondary Senior Notes;
(13) the Aggregate Principal Balance of all CMBS;
(14) the Aggregate Principal Balance of all Collateral Debt Securities that provide for such calendar month. Three Business Days prior to each Monthly Report Dateperiodic payments of interest in Cash less frequently than quarterly;
(15) the Weighted Average Spread, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf Weighted Average Hybrid Coupon and the Weighted Average Coupon of the BorrowerCollateral Debt Securities;
(16) a calculation in reasonable detail necessary to determine compliance with each Coverage Test, shall deliver and, in the case of each Overcollateralization Test, a calculation of the Class A/B Overcollateralization Ratio, the Class C Overcollateralization Ratio, the Class D Overcollateralization Ratio and the Class E Overcollateralization Ratio and, in the case of each Interest Coverage Test, a calculation of the Class A/B Interest Coverage Ratio, the Class C Interest Coverage Ratio, the Class D Interest Coverage Ratio and the Class E Interest Coverage Ratio;
(17) a calculation in reasonable detail necessary to determine compliance with the REIT/REOC Coverage Test;
(18) the occurrence of any REIT/REOC Trigger Event and the identity of the related Real Estate Entity and Collateral Debt Security;
(19) the respective percentage of the Net Outstanding Portfolio Collateral Balance for each aggregate amount referred to in clauses (7) through (14) above;
(20) calculation in reasonable detail necessary to determine compliance with the Standard & Poor’s CDO Monitor Test; and
(21) any changes to the Portfolio Manager a draft identity of the Monthly Report relating to such Monthly Report Date for review and approvalHedge Counterparty. Upon receipt of each draft Monthly Report, the Portfolio Manager Trustee (so long as it is not also acting as the Collateral Administrator) shall compare the information contained in such Monthly Report therein to the information contained in its records with respect to the Collateral and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Trustee with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent Trustee, the Issuer and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Trustee shall within 1 five Business Day request that Days cause the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 10.9 to review such draft Monthly Report and the Collateral AgentTrustee’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral AgentTrustee’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Trustee’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture. On or prior to the Ramp-Up Completion Date and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent together with each Monthly Report, the Issuer shall provide to S&P the Excel CDO Monitor Input File and, with respect to each Collateral Debt Security, the name of each obligor thereon, the CUSIP number thereof (if applicable) and the S&P Priority Category thereof.
Appears in 1 contract
Monthly. On each The Collateral Manager shall compile and provide (or cause to be compiled and provided) to the Collateral Administrator and the Administrative Agent a loan data file (the “Data File”) for the previous monthly period ending on the Monthly Report Determination Date (containing such information agreed upon by the Collateral Manager, the Collateral Administrator and the Administrative Agent). The Collateral Manager shall use reasonable commercial efforts to provide the Data File and designate the row of the Matrix and corresponding Matrix Inputs applicable to such Data File to the Collateral Administrator by no later than 12:00 noon at least ten (10) days prior to the Monthly Reporting Date. The Collateral Administrator shall, based on such Data File, such designated Matrix Inputs and the information contained in its collateral database, compile and provide (or cause to be compiled and provided) to the Collateral Manager a monthly report on a settlement basis (each, a “Monthly Report”) (containing such information agreed upon by the Collateral Agent, the Collateral Manager, the Collateral Administrator and the Administrative Agent). The Collateral Administrator shall use commercially reasonable efforts to provide such Monthly Report to the Collateral Manager by no later than 12:00 noon at least five (5) days prior to the Monthly Reporting Date. To the extent that the Maximum Advance Rate Test is not satisfied in any Monthly Report which is compiled and provided by the Collateral Administrator to the Collateral Manager, the Collateral Manager in consultation with the Collateral Administrator shall select a different row of the Matrix and corresponding combination of Matrix Inputs that, when used to calculate the Maximum Advance Rate Test, allow the Maximum Advance Rate Test to be satisfied. The Collateral Administrator shall then promptly provide the Collateral Manager with an updated Monthly Report calculated based on the new combination of Matrix Inputs applicable to the selected row of the Matrix. The Collateral Manager shall use commercially reasonable efforts to review and confirm the calculations made by the Collateral Administrator in any such Monthly Report within five (5) days of the receipt thereof. Upon receipt of such confirmation from the Collateral Manager and in any event by no later than the Monthly Reporting Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Administrator shall compile and provide to the Agents, the Portfolio Collateral Manager, the Backup Collateral Manager and the Lenders, a monthly report on a trade basis (each a “Lenders the Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on last day of the sixth Business Day prior to the Final Maturity Dateprevious calendar month. The Monthly Report delivered for a any calendar month shall contain the information with respect to the Facility and the Collateral Obligations Loans and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for applicable to such calendar monthMonthly Report. Three Business Days prior to Additionally, each Monthly Report Date, that is delivered on the Collateral Agent, first Monthly Reporting Date to occur after the delivery of the quarterly valuation statements for the BDC pursuant to Section 8.10 hereof, on behalf of 5.01(d)(iii) shall include a statement reporting the Borrower, shall deliver to assets (including cash) under management by the Portfolio Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalCollateral Manager. Upon receipt of each draft Monthly Report, the Portfolio The Collateral Manager shall compare the information contained in provide such Monthly Report to the information contained in its records with respect statement to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform Administrator to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error included in the Monthly Report or at least five (5) days prior to such Monthly Reporting Date. In addition, the Collateral Agent’s recordsManager shall provide together with each Data File a copy of each amendment, the Borrower (modification or the Portfolio Manager on its behalf) shall direct waiver under any Related Document for each Collateral Loan that constitutes a Material Modification, together with each other amendment, modification or waiver under any Related Document for each Collateral Loan that, in the Collateral Agent Manager’s reasonable judgment, are material in relation to revise the related Obligor, in each case that became effective during the one month period ending on the Monthly Report Determination Date for the immediately prior Monthly Report (or, in respect of the first Monthly Report, from the Closing Date) together with a listing of each Collateral Loan with respect to which one of the foregoing amendments, modifications or waivers is being provided. Provided that the Payment Date Reports are prepared and its records accordingly and, as so revised, shall be utilized in making all calculations delivered on a monthly basis pursuant to this Agreement and notice of any error in Section 8.06(b) below, the Collateral Administrator shall not be required to deliver a separate Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of for such report which may be accomplished by making a notation of such error in the subsequent Monthly Reportmonth.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (PennantPark Floating Rate Capital Ltd.)
Monthly. On Not later than two (2) Business Days prior to the 25th calendar day of each calendar month, beginning with November 2025 (other than January, April, July and October in each year) (such date, the “Monthly Report Reporting Date”), the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Manager shall compile and provide to the Agents, the Portfolio Manager Agents and the Lenders, a monthly report on a trade basis for the prior calendar month (each each, a “Monthly Report”) in accordance with this Section 8.07, which Monthly Report may be amended, modified or otherwise supplemented from time to time with the consent of the Collateral Manager, the Administrative Agent, the Collateral Administrator and the Collateral Agent. The Collateral Manager shall compile and provide (or cause to be provided) to the Collateral Agent, the Collateral Administrator and the Administrative Agent a loan data file (the “Data File”) in the form as agreed between the Administrative Agent and the Borrower on or prior to the Closing Date for the previous monthly period ending on the Monthly Report Determination Date (containing such information agreed upon by the Collateral Manager, the Collateral Administrator, the Collateral Agent and the Administrative Agent). The Collateral Manager shall provide (or cause to be provided) the Data File to the Collateral Administrator and the Collateral Agent at least six (6) Business Days prior to the Monthly Reporting Date and, with respect to a Payment Date Report, at least six (6) Business Days prior to the Payment Date. The Collateral Administrator shall use commercially reasonable efforts to review and, based solely on the Data File provided by the Borrower (or Collateral Manager on its behalf), determined re-calculate the calculations in clauses (i) through (xi) below made by the Collateral Manager in any such Monthly Report or Payment Date Report, as applicable, for such calendar month, within five (5) Business Days of the close receipt thereof and notify the Collateral Manager and the Administrative Agent in the event of business on any discrepancy between the related Collateral Administrator’s calculations and the Monthly Report and Payment Date Report. The Collateral Administrator shall re-calculate pursuant to the preceding sentence: (i) Aggregate Net Collateral Balance, (ii) Borrowing Base, (iii) Excess Concentration Amount, (iv) Maximum Available Amount, (v) the OC Ratio, (vi) the Minimum OC Coverage Test, (vii) the Interest Coverage Ratio Test, (viii) the Collateral Quality Test, (ix) for any Payment Date Report, completion of Priority of Payments pursuant to Section 9.01(a), (x) balances for each of the Covered Accounts and (xi) such other calculations as may be mutually agreed upon by the Collateral Administrator, the Collateral Manager and the Administrative Agent. Upon receipt of such notice reporting and showing discrepancies, if any, from the Collateral Administrator and in any event by no later than the Monthly Reporting Date, the Collateral Manager shall compile and provide (or cause to be compiled and provided) to the Agents and the Lenders the Monthly Report. As used herein, the “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month in which a Payment Date does not occur (or, if such day is not a Business Day, the next Business Day) will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on last day of the sixth Business Day immediately prior to the Final Maturity Datecalendar month. The Monthly Report for a calendar month shall contain the information with respect to the Facility and the Collateral Obligations Loans and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretothat is agreed to by the Collateral Manager, the Administrative Agent and the Collateral Administrator from time to time, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days prior In addition, the Borrower shall provide (or cause to be provided) in each Monthly Report Datea statement setting forth in reasonable detail each amendment, modification or waiver under any Related Document for each Collateral Loan that constitutes a Material Modification that became effective since the Collateral Agentimmediately preceding Monthly Report (or, pursuant to Section 8.10 hereof, on behalf in respect of the Borrowerfirst Monthly Report, from the Closing Date). The Borrower shall deliver also provide (or cause to the Portfolio Manager a draft be provided) in each Monthly Report, calculated as of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt of each draft Monthly ReportDetermination Date, the Portfolio Manager shall compare aggregate outstanding principal amount of the information contained in such Monthly Report to the information contained in its records with respect to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy existsAdvances, the Collateral Agent Foreign Currency Advance Amount, and any amounts by which (x) the Portfolio Manager shall attempt to resolve aggregate principal amount of the discrepancy. If such discrepancy cannot be promptly resolved, Advances exceeds the Portfolio Manager shall within 1 Business Day request that Maximum Facility Amount and (y) the Independent Accountants appointed by Foreign Currency Advance Amount exceeds the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly ReportNon-Dollar Sublimit.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Lord Abbett Private Credit Fund S)
Monthly. On Not later than the eighth Business Day after the last day of each Monthly Report Datemonth (except for months in which a Distribution Date occurs, in which case delivery shall occur in conjunction with delivery of the Note Valuation Report) commencing with the eighth Business Day after the last day of July 2005, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Issuer shall compile and provide to the Agentseach Rating Agency, the Portfolio Manager Trustee, the Collateral Manager, the Repository and each Transfer Agent and, upon written request therefor, any Holder of a Note shown on the LendersNote Register, the Hedge Counterparty, any Certifying Person and any Preferred Shareholder a monthly report on a trade basis (each a the “Monthly Report”). The Monthly Report shall contain the following information and instructions with respect to the Pledged Securities included in the Collateral, determined as of the close last day of business on such calendar month or, in the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for case of a calendar month shall contain in which a Distribution Date occurs, the information Determination Date relating to such Distribution Date:
(1) (x) the Aggregate Principal Balance of all Collateral Debt Securities, together with a calculation, in reasonable detail, of the sum of (A) the Aggregate Principal Balance of all Collateral Debt Securities (other than Defaulted Securities and Deferred Interest Collateral Debt Securities), plus (B) with respect to each Defaulted Security or Deferred Interest Collateral Debt Security, the Facility Calculation Amount of such Defaulted Security or Deferred Interest Collateral Debt Security and (y) the Aggregate Principal Balance of all Collateral Debt Securities on the Ramp-Up Completion Date;
(2) the Balance of all Eligible Investments and Cash in each of the Interest Collection Account, the Principal Collection Account, the Expense Account and the Collateral Obligations Interest Reserve Account;
(3) the nature, source and Eligible Investments included amount of any proceeds in the Collateral set forth in Part 1 Collection Accounts, including Interest Proceeds, Principal Proceeds and Sale Proceeds, received since the date of Schedule 2 hereto, and shall be determined as determination of the last Monthly Report Determination Date for such calendar month. Three Business Days prior or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(4) with respect to each Monthly Report DateCollateral Debt Security and each Eligible Investment that is part of the Collateral, its Principal Balance, annual interest rate, Stated Maturity and issuer thereof;
(5) the identity of each Collateral Agent, Debt Security that was sold or disposed of pursuant to Section 8.10 hereof12.1 indicating whether such Collateral Debt Security is a Defaulted Security, on behalf Credit Risk Security or Equity Security (as reported in writing to the Issuer by the Collateral Manager) and whether such Collateral Debt Security was sold pursuant to Section 12.1(a)(i), (ii) or (iii) or Granted to the Trustee since the date of determination of the Borrowermost recent Monthly Report or, shall deliver in the case of the first Monthly Report, since the Closing Date;
(6) the identity of each Collateral Debt Security that has become a Defaulted Security, Deferred Interest Collateral Debt Security, Credit Risk Security or Equity Security since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(7) the Aggregate Principal Balance of all Collateral Debt Securities that have a Stated Maturity later than the Stated Maturity of the Notes;
(8) the Aggregate Principal Balance of (A) all Fixed Rate Collateral Debt Securities, (B) all Floating Rate Collateral Debt Securities, (C) all Deemed Fixed Rate Collateral Debt Securities and (D) all Deemed Floating Rate Collateral Debt Securities;
(9) the Aggregate Principal Balance of all Trust Preferred Securities;
(10) the Aggregate Principal Balance of all Subordinated Notes;
(11) the Aggregate Principal Balance of all Senior Notes;
(12) the Aggregate Principal Balance of all CMBS;
(13) the Aggregate Principal Balance of all Collateral Debt Securities that provide for periodic payments of interest in Cash less frequently than quarterly;
(14) the Weighted Average Spread, the Weighted Average Hybrid Coupon and the Weighted Average Coupon of the Collateral Debt Securities;
(15) a calculation in reasonable detail necessary to determine compliance with each Coverage Test, and, in the case of each Overcollateralization Test, a calculation of the Class A/B Overcollateralization Ratio, the Class C/D Overcollateralization Ratio, and the Class E Overcollateralization Ratio, and, in the case of each Interest Coverage Test, a calculation of the Class A/B Interest Coverage Ratio, the Class C/D Interest Coverage Ratio and the Class E Interest Coverage Ratio;
(16) the respective percentage of the Net Outstanding Portfolio Collateral Balance for each aggregate amount referred to in clauses (7) through (14) above;
(17) calculation in reasonable detail necessary to determine compliance with the Standard & Poor’s CDO Monitor Test; and
(18) any changes to the Portfolio Manager a draft identity of the Monthly Report relating to such Monthly Report Date for review and approvalHedge Counterparty. Upon receipt of each draft Monthly Report, the Portfolio Manager Trustee (so long as it is not also acting as the Collateral Administrator) shall compare the information contained in such Monthly Report therein to the information contained in its records with respect to the Collateral and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Trustee with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent Trustee, the Issuer and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Trustee shall within 1 five Business Day request that Days cause the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 10.9 to review such draft Monthly Report and the Collateral AgentTrustee’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral AgentTrustee’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Trustee’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture. On or prior to the Ramp-Up Completion Date and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent together with each Monthly Report, the Issuer shall provide to S&P the Excel CDO Monitor Input File and, with respect to each Collateral Debt Security, the name of each obligor thereon, the CUSIP number thereof (if applicable) and the S&P Priority Category thereof.
Appears in 1 contract
Monthly. On Not later than the eighth Business Day after the last day of each Monthly Report Datemonth (except for months preceding a month in which a Distribution Date occurs, in which case delivery shall occur in conjunction with delivery of the Note Valuation Report) commencing with the eighth Business Day after the last day of April 2006, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Issuer shall compile and provide to the Agentseach Rating Agency, the Portfolio Manager Trustee, the Collateral Manager, the Repository and each Transfer Agent and, upon written request therefor, any Holder of a Note shown on the LendersNote Register, the Hedge Counterparty, any Certifying Person and any Preferred Shareholder a monthly report on a trade basis (each a the “Monthly Report”). The Monthly Report shall contain the following information and instructions with respect to the Pledged Securities included in the Collateral, determined as of the close last day of business on such calendar month or, in the related Monthly Report Determination Date. The first Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Date. The Monthly Report for case of a calendar month shall contain in which a Distribution Date occurs, the information Determination Date relating to such Distribution Date:
(1) (x) the Aggregate Principal Balance of all Collateral Debt Securities, together with a calculation, in reasonable detail, of the sum of (A) the Aggregate Principal Balance of all Collateral Debt Securities (other than Defaulted Securities and Deferred Interest Collateral Debt Securities), plus (B) with respect to each Defaulted Security or Deferred Interest Collateral Debt Security, the Facility Calculation Amount of such Defaulted Security or Deferred Interest Collateral Debt Security and (y) the Aggregate Principal Balance of all Collateral Debt Securities on the Ramp-Up Completion Date;
(2) the Balance of all Eligible Investments and Cash in each of the Interest Collection Account, the Principal Collection Account, the Expense Account and the Collateral Obligations Interest Reserve Account;
(3) the nature, source and Eligible Investments included amount of any proceeds in the Collection Accounts, including Interest Proceeds, Principal Proceeds and Sale Proceeds, received since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(4) with respect to each Collateral set forth Debt Security and each Eligible Investment that is part of the Collateral, its Principal Balance, annual interest rate, Stated Maturity and issuer thereof;
(5) the identity of each Collateral Debt Security that was sold or disposed of pursuant to Section 12.1 indicating whether such Collateral Debt Security is a Defaulted Security, Credit Risk Security or Equity Security (as reported in Part 1 writing to the Issuer by the Collateral Manager) and whether such Collateral Debt Security was sold pursuant to Section 12.1(a)(i), (ii) or (iii) or Granted to the Trustee since the date of Schedule 2 heretodetermination of the most recent Monthly Report or, and shall be determined in the case of the first Monthly Report, since the Closing Date;
(6) the identity of each Collateral Debt Security that has become a Defaulted Security, Deferred Interest Collateral Debt Security, Credit Risk Security or Equity Security since the date of determination of the last Monthly Report or, in the case of the first Monthly Report, since the Ramp-Up Completion Date;
(7) the identity of each Collateral Debt Security, the related Real Estate Entity of which failed to satisfy any two of the three REIT/REOC Coverage Tests as of the date of determination of the last Monthly Report Determination Date or, in the case of the first Monthly Report, since the Ramp-Up Completion Date.
(8) the Aggregate Principal Balance of all Collateral Debt Securities that have a Stated Maturity later than the Stated Maturity of the Notes;
(9) the Aggregate Principal Balance of (A) all Fixed Rate Collateral Debt Securities, (B) all Floating Rate Collateral Debt Securities, (C) all Deemed Fixed Rate Collateral Debt Securities and (D) all Deemed Floating Rate Collateral Debt Securities;
(10) the Aggregate Principal Balance of all Trust Preferred Securities;
(11) the Aggregate Principal Balance of all Subordinated Notes;
(12) the Aggregate Principal Balance of all Primary Senior Notes and the Aggregate Principal Balance of all Secondary Senior Notes;
(13) the Aggregate Principal Balance of all CMBS;
(14) the Aggregate Principal Balance of all Collateral Debt Securities that provide for such calendar month. Three Business Days prior to each Monthly Report Dateperiodic payments of interest in Cash less frequently than quarterly;
(15) the Weighted Average Spread, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf Weighted Average Hybrid Coupon and the Weighted Average Coupon of the BorrowerCollateral Debt Securities;
(16) a calculation in reasonable detail necessary to determine compliance with each Coverage Test, shall deliver and, in the case of each Overcollateralization Test, a calculation of the Class A/B Overcollateralization Ratio, the Class C Overcollateralization Ratio, the Class D Overcollateralization Ratio and the Class E Overcollateralization Ratio and, in the case of each Interest Coverage Test, a calculation of the Class A/B Interest Coverage Ratio, the Class C Interest Coverage Ratio, the Class D Interest Coverage Ratio and the Class E Interest Coverage Ratio;
(17) a calculation in reasonable detail necessary to determine compliance with the REIT/REOC Coverage Test;
(18) the occurrence of any REIT/REOC Trigger Event and the identity of the related Real Estate Entity and Collateral Debt Security;
(19) the respective percentage of the Net Outstanding Portfolio Collateral Balance for each aggregate amount referred to in clauses (7) through (14) above;
(20) calculation in reasonable detail necessary to determine compliance with the Standard & Poor’s CDO Monitor Test; and
(21) any changes to the Portfolio Manager a draft identity of the Monthly Report relating to such Monthly Report Date for review and approvalHedge Counterparty. Upon receipt of each draft Monthly Report, the Portfolio Manager Trustee (so long as it is not also acting as the Collateral Administrator) shall compare the information contained in such Monthly Report therein to the information contained in its records with respect to the Collateral and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Trustee with respect to the Collateral or whether such Monthly Report is approvedCollateral. In the event that any discrepancy exists, the Collateral Agent Trustee, the Issuer and the Portfolio Collateral Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Trustee shall within 1 five Business Day request that Days cause the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 10.9 to review such draft Monthly Report and the Collateral AgentTrustee’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral AgentTrustee’s records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Trustee’s records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture. On or prior to the Ramp-Up Completion Date and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent together with each Monthly Report, the Issuer shall provide to S&P the Excel CDO Monitor Input File and, with respect to each Collateral Debt Security, the name of each obligor thereon, the CUSIP number thereof (if applicable) and the S&P Priority Category thereof.
Appears in 1 contract
Monthly. On each The Collateral Manager shall compile and provide (or cause to be compiled and provided) to the Collateral Administrator and the Administrative Agent a loan data file (the “Data File”) for the previous monthly period ending on the Monthly Report Determination Date (containing such information agreed upon by the Collateral Manager, the Collateral Administrator and the Administrative Agent). The Collateral Manager shall use reasonable commercial efforts to provide the Data File and designate the row of the Matrix and corresponding Matrix Inputs applicable to such Data File to the Collateral Administrator by no later than 12:00 noon at least ten (10) days prior to the Monthly Reporting Date. The Collateral Administrator shall, based on such Data File, such designated Matrix Inputs and the information contained in its collateral database, compile and provide (or cause to be compiled and provided) to the Collateral Manager a monthly report on a settlement basis (each, a “Monthly Report”) (containing such information agreed upon by the Collateral Agent, the Collateral Manager, the Collateral Administrator and the Administrative Agent). The Collateral Administrator shall use commercially reasonable efforts to provide such Monthly Report to the Collateral Manager by no later than 12:00 noon at least five (5) days prior to the Monthly Reporting Date. To the extent that the Maximum Advance Rate Test is not satisfied in any Monthly Report which is compiled and provided by the Collateral Administrator to the Collateral Manager, the Collateral Manager in consultation with the Collateral Administrator shall select a different row of the Matrix and corresponding combination of Matrix Inputs that, when used to calculate the Maximum Advance Rate Test, allow the Maximum Advance Rate Test to be satisfied. The Collateral Administrator shall then promptly provide the Collateral Manager with an updated Monthly Report calculated based on the new combination of Matrix Inputs applicable to the selected row of the Matrix. The Collateral Manager shall use commercially reasonable efforts to review and confirm the calculations made by the Collateral Administrator in any such Monthly Report within five (5) days of the receipt thereof. Upon receipt of such confirmation from the Collateral Manager and in any event by no later than the Monthly Reporting Date, the Collateral Agent pursuant to Section 8.10 hereof, on behalf of the Borrower Administrator shall compile and provide to the Agents, the Portfolio Collateral Manager, the Backup Collateral Manager and the Lenders, a monthly report on a trade basis (each a “Lenders the Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first Monthly Report shall ” with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on last day of the sixth Business Day prior to the Final Maturity Dateprevious calendar month. The Monthly Report delivered for a any calendar month shall contain the information with respect to the Facility and the Collateral Obligations Loans and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 hereto, and shall be determined as of the Monthly Report Determination Date for applicable to such calendar monthMonthly Report. Three Business Days prior to Additionally, each Monthly Report Date, that is delivered on the Collateral Agent, first Monthly Reporting Date to occur after the delivery of the quarterly valuation statements for the BDC pursuant to Section 8.10 hereof, on behalf of 5.01(d)(iii) shall include a statement reporting the Borrower, shall deliver to assets (including cash) under management by the Portfolio Manager a draft of the Monthly Report relating to such Monthly Report Date for review and approvalCollateral Manager. Upon receipt of each draft Monthly Report, the Portfolio The Collateral Manager shall compare the information contained in provide such Monthly Report to the information contained in its records with respect statement to the Collateral and shall, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform Administrator to the information maintained by the Portfolio Manager with respect to the Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error included in the Monthly Report or at least five (5) days prior to such Monthly Reporting Date. In addition, the Collateral Agent’s recordsManager shall provide together with each Data File a copy of each amendment, the Borrower (modification or the Portfolio Manager on its behalf) shall direct waiver under any Related Document for each Collateral Loan that constitutes a Material Modification, together with each other amendment, modification or waiver under any Related Document for each Collateral Loan that, in the Collateral Agent Manager’s reasonable judgment, are material in relation to revise the related Obligor, in each case that became effective during the one month period ending on the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in Determination Date for the immediately prior Monthly Report shall be sent as soon as practicable by (or, in respect of the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent first Monthly Report, from the Closing Date) together with a listing of each Collateral Loan with respect to which one of the foregoing amendments, modifications or waivers is being provided.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (PennantPark Floating Rate Capital Ltd.)
Monthly. On Not later than the 20th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than the calendar months in which a Payment Date occurs) and commencing in February 2020, the Issuer shall compile and make available (or cause to be compiled and made available) to the Rating Agency, the Trustee, the Collateral Agent pursuant to Section 8.10 hereofManager, the Initial Purchaser and each other Holder shown on behalf the Register and any beneficial owner of the Borrower shall compile and provide a Note who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “Monthly Report”). As used herein, determined as of the close of business on the related “Monthly Report Determination Date. The first ” with respect to any calendar month will be the 10th Business Day preceding the date the Monthly Report shall be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth Business Day prior to the Final Maturity Dateis made available. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the close of business on the Monthly Report Determination Date for such calendar month. Three Business Days prior to each Monthly Report Date:
(i) Aggregate Principal Balance of Collateral Obligations, the Collateral Agent, pursuant to Section 8.10 hereof, on behalf aggregate unfunded commitments of the BorrowerCollateral Obligations, shall deliver to any capitalized interest on the Portfolio Manager a draft Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of the Monthly Report relating to such Monthly Report Date for review and approval. Upon receipt Collateral Obligations.
(iii) Collateral Principal Amount of each draft Monthly ReportCollateral Obligations.
(iv) A list of Collateral Obligations, the Portfolio Manager shall compare the information contained in such Monthly Report to the information contained in its records including, with respect to each such Collateral Obligation, the Collateral and shallfollowing information:
(A) The obligor thereon (including the issuer ticker, within two Business Days after receipt of such draft Monthly Report, notify the Borrower and the Collateral Agent if the information contained in the draft Monthly Report does not conform any);
(B) The LoanX ID (to the information maintained extent available) and any other security identifier thereof;
(C) The Principal Balance thereof (other than any accrued interest that was purchased with Principal Proceeds) and any unfunded commitment pertaining thereto;
(D) The percentage of the aggregate Collateral Principal Amount represented by the Portfolio Manager with respect to the such Collateral or whether such Monthly Report is approved. In the event that any discrepancy exists, the Collateral Agent and the Portfolio Manager shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager shall within 1 Business Day request that the Independent Accountants appointed by the Borrower pursuant to Section 8.08 review such draft Monthly Report and the Collateral Agent’s records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s records, the Borrower (or the Portfolio Manager on its behalf) shall direct the Collateral Agent to revise the Monthly Report and its records accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.Obligation;
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Sources: Indenture and Security Agreement (Owl Rock Capital Corp)
Monthly. On Not later than the 18th calendar day (or, if such day is not a Business Day, on the next succeeding Business Day) of each Monthly Report Datecalendar month (other than January, April, July and October in each year) and commencing in February 2023, the Issuer shall compile and make available (or cause to be compiled and made available) to the Rating Agency, the Collateral Agent pursuant to Section 8.10 hereofTrustee, the Loan Agent, the Collateral Manager, the Placement Agents, any Holder shown on behalf the Register of the Borrower shall compile any Debt and provide any beneficial owner of Debt who has delivered a Beneficial Ownership Certificate to the Agents, the Portfolio Manager and the Lenders, Collateral Trustee a monthly report on a trade settlement date basis (except as otherwise expressly provided in this Indenture) (each such report a “"Monthly Report”"). As used herein, determined as of the close of business on the related "Monthly Report Determination Date. The first Monthly Report shall " with respect to any calendar month will be delivered in July 2022. The final Monthly Report shall be delivered on the Final Maturity Date and shall be determined on the sixth tenth Business Day prior to the Final Maturity Date18th calendar day of such calendar month. The Monthly Report for a calendar month shall contain the following information with respect to the Facility and the Collateral Obligations and Eligible Investments included in the Collateral set forth in Part 1 of Schedule 2 heretoAssets, and shall be determined as of the Monthly Report Determination Date for such calendar month. Three Business Days :
(i) Aggregate Principal Balance of Collateral Obligations, the aggregate outstanding principal balance of Collateral Obligations, the aggregate unfunded commitments of the Collateral Obligations, any capitalized interest on the Collateral Obligations and Eligible Investments representing Principal Proceeds.
(ii) Adjusted Collateral Principal Amount of Collateral Obligations.
(iii) Collateral Principal Amount of Collateral Obligations.
(iv) A list of Collateral Obligations, including, with respect to each such Collateral Obligation, the following information:
(A) The obligor thereon (including the issuer ticker, if any);
(B) The CUSIP, LoanX-ID (if any) or security identifier thereof;
(C) The Principal Balance thereof, the outstanding principal balance thereof (in each case, other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)) and any unfunded commitment pertaining thereto;
(D) The percentage of the aggregate Collateral Principal Amount represented by such Collateral Obligation;
(E) The related interest rate or spread (in the case of a Floating Rate Floor Obligation, calculated both with and without regard to the applicable specified "floor" rate per annum), (y) if such Collateral Obligation is a Floating Rate Floor Obligation, the related reference rate "floor" and (z) the identity of any Collateral Obligation that is not a Floating Rate Floor Obligation and for which interest is calculated with respect to any index other than the Benchmark;
(F) The stated maturity thereof;
(G) The related S&P Industry Classification;
(H) The S&P Rating;
(I) The country of Domicile;
(J) An indication as to whether each such Collateral Obligation is (1) a Senior Secured Loan, (2) a Second Lien Loan, (3) a Defaulted Obligation, (4) a Delayed Drawdown Collateral Obligation, (5) a Revolving Collateral Obligation, (6) a Participation Interest (indicating the related Selling Institution, if applicable, and its ratings by the Rating Agency), (7) a Permitted Deferrable Obligation, (8) a Fixed Rate Obligation, (9) a Current Pay Obligation, (10) a DIP Collateral Obligation, (11) a Discount Obligation, (12) a Discount Obligation purchased in the manner described in clause (y) of the proviso to the definition "Discount Obligation", (13) a Cov-Lite Loan, (14) a First-Lien Last-Out Loan, (15) a Long-Dated Obligation, (16) a Broadly Syndicated Loan or, if not a Broadly Syndicated Loan, a Middle Market Loan, (17) a Permitted Non-Loan Asset or (18) a Permitted Collateral Obligation;
(K) With respect to each Collateral Obligation that is a Discount Obligation purchased in the manner described in clause (y) of the proviso to the definition "Discount Obligation";
(I) the identity of the Collateral Obligation (including whether such Collateral Obligation was classified as a Discount Obligation at the time of its original purchase) the proceeds of whose sale are used to purchase the purchased Collateral Obligation;
(II) the purchase price (as a percentage of par) of the purchased Collateral Obligation and the sale price (as a percentage of par) of the Collateral Obligation the proceeds of whose sale are used to purchase the purchased Collateral Obligation; and
(III) the Aggregate Principal Balance of Collateral Obligations that have been excluded from the definition of "Discount Obligation" and relevant calculations indicating whether such amount is in compliance with the limitations described in clauses (z)(A) and (z)(B) of the proviso to the definition of "Discount Obligation."
(L) The Principal Balance of each Cov-Lite Loan and the Aggregate Principal Balance of all Cov-Lite Loans;
(M) The S&P Recovery Rate;
(N) The date of the credit estimate of such Collateral Obligation; and
(O) The S&P Rating Reporting Items.
(v) If the Monthly Report Determination Date occurs on or after the Effective Date and prior to the last day of the Reinvestment Period, for each Monthly Report Dateof the limitations and tests specified in the definitions of Concentration Limitations and Collateral Quality Tests, (1) the result (including, during any S&P CDO Formula Election Period, calculation of each of the S&P CDO Monitor Benchmarks), (2) the related minimum or maximum test level and (3) a determination as to whether such result satisfies the related test.
(vi) The calculation of each of the following:
(A) Each Interest Coverage Ratio (and setting forth the percentage required to satisfy each Interest Coverage Test);
(B) Each Overcollateralization Ratio (and setting forth the percentage required to satisfy each Overcollateralization Ratio Test);
(C) The Weighted Average Coupon; and
(D) The Weighted Average Floating Spread.
(vii) The calculation specified in Section 5.1(g).
(viii) For each Account, a schedule showing the beginning balance, each credit or debit specifying the nature, source and amount, and the ending balance.
(ix) A schedule showing for each of the following the beginning balance, the amount of Interest Proceeds received from the date of determination of the immediately preceding Monthly Report, and the ending balance for the current Measurement Date:
(A) Interest Proceeds from Collateral AgentObligations; and
(B) Interest Proceeds from Eligible Investments.
(x) Purchases, payments, and sales:
(A) The identity, Principal Balance and outstanding principal balance (in each case other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)), unfunded commitment (if any), capitalized interest (if any), Principal Proceeds and Interest Proceeds received, and date for each Collateral Obligation that was released for sale or disposition pursuant to Section 8.10 hereof12.1 since the last Monthly Report Determination Date and whether such Collateral Obligation was a Credit Risk Obligation or a Credit Improved Obligation, and whether the sale of such Collateral Obligation was a discretionary sale and;
(B) The identity, Principal Balance and outstanding principal balance (in each case other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)), unfunded commitment (if any), Principal Proceeds and Interest Proceeds received, and date for each Collateral Obligation that was substituted or repurchased pursuant to Section 12.3 since the last Monthly Report Determination Date, all as reported to the Collateral Trustee by the Collateral Manager at the time of such repurchase or substitution; and
(C) The identity, Principal Balance and outstanding principal balance (in each case other than any accrued interest that was purchased with Principal Proceeds (but excluding any capitalized interest)), unfunded commitment (if any), capitalized interest (if any) and Principal Proceeds and Interest Proceeds expended to acquire each Collateral Obligation acquired pursuant to Section 12.2 since the last Monthly Report Determination Date.
(xi) The identity of each Defaulted Obligation, the S&P Collateral Value and the Market Value of each such Defaulted Obligation and date of default thereof.
(xii) The identity of each Collateral Obligation with an S&P Rating of "CCC+" or below and the Market Value of each such Collateral Obligation.
(xiii) The identity of each Deferring Obligation, the S&P Collateral Value and the Market Value of each Deferring Obligation, and the date on which interest was last paid in full in Cash thereon.
(xiv) The identity of each Current Pay Obligation, the Market Value of each such Current Pay Obligation, and the percentage of the Collateral Principal Amount comprised of Current Pay Obligations.
(xv) The percentage of the Collateral Principal Amount comprised of Broadly Syndicated Loans (which percentage shall be reflected on the summary page of the Monthly Report).
(xvi) A copy of the notice provided by the Collateral Manager pursuant to Section 12.2(b) hereof setting forth the details of any Trading Plan (including, the proposed amendments and/or proposed investments identified by the Collateral Manager for acquisition or entry, as applicable, as part of such Trading Plan (which details shall be reported on a dedicated page of the Monthly Report)) and the occurrence of the event, if any, described in clause (iv) of the proviso to Section 12.2(b).
(xvii) Based solely on the confirmation given by the Issuer, or the Collateral Manager on behalf of the BorrowerIssuer, shall deliver to the Portfolio Collateral Administrator and the Collateral Trustee (for the benefit of the Holders), on which the Collateral Administrator and the Collateral Trustee and the Loan Agent may conclusively rely, a statement as to whether the E.U./U.K. Retention Provider has confirmed it is in compliance with the requirements set forth in paragraph 1 of the Risk Retention Letter.
(xviii) The S&P Equivalent Weighted Average Rating Factor and S&P Equivalent Diversity Score.
(xix) For each Account, (i) the name of the financial institution that holds such Account; and (ii) the applicable ratings by S&P required under Section 10.1(a) for such institution.
(xx) Notice of any Exception that became effective since the last Monthly Report Determination Date, as provided by the Collateral Manager.
(xxi) Such other information as the Rating Agency or the Collateral Manager a draft of may reasonably request. For each instance in which the Market Value is reported pursuant to the foregoing, the Monthly Report relating to shall also indicate the manner in which such Monthly Report Date for review Market Value was determined and approvalthe source(s) (if applicable) used in such determination, as provided by the Collateral Manager. Upon receipt of each draft Monthly Report, the Portfolio Manager shall Collateral Trustee shall, if not the same Person as the Collateral Administrator, compare the information contained in such Monthly Report to the information contained in its records with respect to the Collateral Assets and shall, within two three Business Days after receipt of such draft Monthly Report, notify the Borrower Issuer, the Collateral Administrator, the Rating Agency and the Collateral Agent Manager if the information contained in the draft Monthly Report does not conform to the information maintained by the Portfolio Manager Collateral Trustee with respect to the Collateral or whether such Monthly Report is approvedAssets. In the event that If any discrepancy exists, the Collateral Agent Administrator and the Portfolio Issuer, or the Collateral Manager on behalf of the Issuer, shall attempt to resolve the discrepancy. If such discrepancy cannot be promptly resolved, the Portfolio Manager Collateral Trustee shall within 1 ten (10) Business Day Days notify the Collateral Manager who shall, on behalf of the Issuer, request that the Independent Accountants accountants appointed by the Borrower Issuer pursuant to Section 8.08 review 10.9 perform agreed upon procedures on such draft Monthly Report and the Collateral Agent’s Trustee's records to determine the cause of such discrepancy. If such review reveals an error in the Monthly Report or the Collateral Agent’s Trustee's records, the Borrower (Monthly Report or the Portfolio Manager on its behalf) Collateral Trustee's records shall direct the Collateral Agent to revise the Monthly Report and its records be revised accordingly and, as so revised, shall be utilized in making all calculations pursuant to this Agreement Indenture and notice of any error in the Monthly Report shall be sent as soon as practicable by the Borrower Issuer to all recipients of such report which may be accomplished by making a notation of such error in the subsequent Monthly Report.
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