Common use of Settlement Date Basis Clause in Contracts

Settlement Date Basis. For purposes of this Agreement, all determinations of whether an investment is to be included as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will not be treated as a Portfolio Investment until such purchase has settled, and any Portfolio Investment which has been sold will not be excluded as a Portfolio Investment until such sale has settled); provided that once an investment is included as a Portfolio Investment, solely for valuation purposes, Portfolio Investments may be valued on a traded date basis to the extent required to comply with existing valuation policies and procedures of the Borrower or External Managers; provided, further, that no such investment shall be included as a Portfolio Investment to the extent it has not been paid for in full.

Settlement Date Basis. For purposes of this Agreement, all determinations of whether an investment is to be included as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will not be treated as a Portfolio Investment until such purchase has settled, settled and any Portfolio Investment which has been sold will not be excluded as a Portfolio Investment until such sale has settled); provided that once an investment is included as a Portfolio Investment, solely for valuation purposes, Portfolio Investments may be valued on a traded date basis to the extent required to comply with existing valuation policies and procedures of the Borrower or External Managers; provided, further, that no such investment 126 Revolving Credit and Term Loan Agreement shall be included as a Portfolio Investment to the extent it has not been paid for in full.