Reinvestment of Principal Collections Sample Clauses
The Reinvestment of Principal Collections clause governs how principal amounts that are repaid or collected from underlying assets are handled, specifically allowing these funds to be used to acquire new assets or investments rather than being immediately distributed to investors. In practice, this means that when loans or receivables are paid off, the principal received can be reinvested into additional qualifying assets during a specified reinvestment period, thereby maintaining or growing the asset pool. This clause is essential for maximizing returns and operational efficiency, as it enables the ongoing deployment of capital and helps prevent idle cash from accumulating, which could otherwise reduce overall investment performance.
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Administrative Agent and the Lender Agents, prior to the end of the Revolving Period, the Servicer may, to the extent of any Principal Collections on deposit in the Principal Collection Subaccount:
(a) withdraw such funds for the purpose of reinvesting in additional Eligible Loan Assets to be Pledged hereunder; provided that the following conditions are satisfied:
(i) all conditions precedent set forth in Section 3.04 have been satisfied;
(ii) no Servicer Termination Event or Event of Default has occurred and is continuing, or would result from such withdrawal and reinvestment, and no Unmatured Event of Default or Borrowing Base Deficiency exists or would result from such withdrawal and reinvestment;
(iii) the representations and warranties contained in Sections 4.01, 4.02 and 4.03 hereof shall continue to be correct in all material respects, except to the extent relating to an earlier date;
(iv) the Servicer provides same day written notice to the Administrative Agent and the Collateral Agent by facsimile or email (to be received no later than 1:00 p.m. on such day) of the request to withdraw Principal Collections and the amount of such request;
(v) the notice required in clause (iv) above shall be accompanied by a Disbursement Request and a Borrowing Base Certificate, each executed by the Borrower and a Responsible Officer of the Servicer; and
(vi) the Collateral Agent provides to the Administrative Agent by facsimile (to be received no later than 1:30 p.m. on that same day) a statement reflecting the total amount on deposit as of the opening of business on such day in the Principal Collection Subaccount; or
(b) withdraw such funds for the purpose of making payments in respect of the Advances Outstanding at such time in accordance with and subject to the terms of Section 2.18. Upon the satisfaction of the applicable conditions set forth in this Section 2.20 (as certified by the Borrower to the Account Bank, Collateral Agent and the Administrative Agent), the Collateral Agent shall direct the Account Bank to release funds from the Principal Collection Subaccount to the Servicer, and the Account Bank shall release such funds as directed, in an amount not to exceed the lesser of (A) the amount requested by the Servicer and (B) the amount on deposit in the Principal Collection Subaccount on such day.
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Administrative Agent and the Lenders, prior to the end of the Revolving Period, the Borrower may, to the extent of any Principal Collections on deposit in the Collection Account:
(a) so long as no Event of Default, Unmatured Event of Default or Borrowing Base Deficiency shall have occurred or would result therefrom, withdraw such funds for the purpose of (i) reinvesting in additional Eligible Loan Assets to be Transferred hereunder or (ii) making payments in respect of the Advances Outstanding at such time in accordance with and subject to the terms of Section 2.17; or
(b) so long as no Event of Default, Unmatured Event of Default or Borrowing Base Deficiency shall have occurred or would result therefrom, withdraw and use such funds in any other manner in compliance with Applicable Law.
Reinvestment of Principal Collections. At any time prior to the Conversion Date (but not on or after the Conversion Date), the Collateral Manager on behalf of the Borrower may, with the prior written consent of the Administrative Agent, instruct the Custodian to withdraw Principal Collections from the Principal Collection Account and deposit such Principal Collections into the Trust Account for the purpose of acquiring additional Assets (each such reinvestment of Principal Collections, a “Reinvestment”), subject in each case to the following conditions:
(i) the Collateral Manager shall have delivered and the Administrative Agent shall have approved an Approval Request with respect to the Assets acquired pursuant to the Reinvestment pursuant to the terms of Section 2(b); and
(ii) the Collateral Manager shall have delivered to the Administrative Agent a certificate certifying that the conditions set forth in Sections 7(b)(vi) through (x) shall be satisfied as of the date of such Reinvestment.
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Lenders and Administrative Agent, prior to the end of the Revolving Period, the Servicer may, to the extent of any Principal Collections on deposit in the Principal Collection Account: (a) withdraw such funds for the purpose of reinvesting in additional Eligible Loan Assets to be Pledged hereunder; provided that the following conditions are satisfied: (i) all applicable conditions precedent set forth in Section 3.02 have been satisfied; (ii) (x) no Event of Default or Unmatured Event of Default has occurred (other than an Unmatured Event of Default consisting of a Borrowing Base Deficiency,
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Lender Agents and Administrative Agent, the Servicer may, to the extent of any Principal Collections on deposit in the Principal Collection Account:
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Lenders and Administrative Agent, prior to the end of the Reinvestment Period, the Collateral Manager may, to the extent of any Principal Collections on deposit in the Principal Collection Account: (a) withdraw such funds for the purpose of purchasing additional Eligible Collateral Assets to be Pledged hereunder (a “Purchase”); provided that the following conditions are satisfied: (i) all conditions set forth in Section 3.02 have been satisfied; (ii) the Collateral Manager provides same day (or earlier) written notice to the Administrative Agent and the Collateral Agent by email (to be received no later than 2:00 p.m. on such day) of the request to withdraw Principal Collections and the amount of such request; (iii) the notice required in clause (ii) above shall be accompanied by a Disbursement Request, and the Borrowing Base Certificate delivered pursuant to Section 3.02 shall give pro forma effect to the relevant disbursement and Purchase, each executed by the Borrower and a Responsible Officer of the Collateral Manager; or (b) withdraw such funds for the purpose of making payments in respect of the Advances outstanding at such time in accordance with and subject to the terms of Section 2.
Reinvestment of Principal Collections. At any time prior to the Conversion Date (but not after the Conversion Date), the Collateral Manager on behalf of the Borrower may, with the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed), instruct the Securities Intermediary to withdraw Principal Collections from the Principal Collection Account and deposit such Principal Collections into the Trust Account for the purpose of acquiring additional Assets (each such reinvestment of Principal Collections, a “Reinvestment”), subject in each case to the following conditions:
(i) the Collateral Manager shall have delivered and the Administrative Agent shall have approved an Approval Request with respect to the Assets acquired pursuant to the Reinvestment pursuant to the terms of Section 2(b);
(ii) the conditions set forth in Sections 7(b)(v) through (ix) shall be satisfied as of the date of such Reinvestment; and
(iii) no Non-Originated Asset shall be acquired unless, immediately following such Reinvestment, more than 50.0% of the Collateral Principal Amount consists of Retention Holder Originated Assets.
Reinvestment of Principal Collections. At any time prior to the Conversion Date (but not on or after the Conversion Date), the Collateral Manager on behalf of the Borrower Parties may, with the prior written consent of the Administrative Agent, instruct the Custodian to withdraw Principal Collections from any Principal Collection Account and deposit such Principal Collections into the applicable Trust Account for the purpose of acquiring additional Assets (each such reinvestment of Principal Collections, a “Reinvestment”), subject in each case to the following conditions:
(i) the Collateral Manager shall have delivered and the Administrative Agent shall have approved an Approval Request with respect to the Assets acquired pursuant to the Reinvestment pursuant to the terms of Section 2(b); and
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent, the Lenders and Administrative Agent, prior to the end of the Reinvestment Period, the Collateral Manager may, to the extent of any Principal Collections on deposit in the Principal Collection Account: (a) withdraw such funds for the purpose of purchasing additional Eligible Collateral Assets to be Pledged hereunder (a “Purchase”); provided that the following conditions are satisfied: (i) all conditions set forth in Section 3.02 have been satisfied; (ii) the Collateral Manager provides same day (or earlier) written notice to the Administrative Agent and the Collateral Agent by email (to be received no later than USActive 60058040.860058040.11 -90-
Reinvestment of Principal Collections. On the terms and conditions hereinafter set forth as certified in writing to the Collateral Agent and the Administrative Agent, prior to the end of the Revolving Period, the Borrower (or the Servicer on its behalf) may, to the extent of any Principal Collections on deposit in the Principal Collection Subaccount:
(a) direct the Collateral Agent to withdraw such funds for the purpose of reinvesting in additional Eligible Loan Assets to be Granted hereunder; provided that the following conditions are satisfied:
(i) all conditions precedent set forth in Section 3.02 and Section