Asset Value Adjustment Event definition
Asset Value Adjustment Event means, with respect to any Collateral Asset, each occurrence of one or more of the following:
Asset Value Adjustment Event means, with respect to any Collateral Loan (other than a Broadly Syndicated Loan), each occurrence of one or more of the following:
Asset Value Adjustment Event means, with respect to any Collateral Asset, the occurrence of any one or more of the following events (which, for the avoidance of doubt, may occur more than once) after the related Addition Cut-Off Date: (i) (a) for Rated Collateral Assets (including Rated Collateral Assets which are Priced Loans or Senior Secured Bonds), a Rating Agency providing a Rating for such Collateral Asset has downgraded such Rating from the Rating in effect on the Addition Cut-Off Date and to a rating below “B-” (in the case of S&P or Fitch) or “B3” (in the case of ▇▇▇▇▇’▇), as applicable, or other equivalent rating level from another Rating Agency (it being understood that each downgrade shall be deemed to be a separate Asset Value Adjustment Event), or (b) for any Collateral Asset, the Updated Asset Value of such Collateral Asset reflected on the books and records of the Collateral Manager as of any Updated Asset Value Determination Date has declined by 15.0% or more below the USActive 60058040.860058040.11 -8-
Examples of Asset Value Adjustment Event in a sentence
The Collateral Manager shall make appropriate personnel available to the Administrative Agent to discuss matters relating to the Collateral Portfolio as the Administrative Agent may reasonably request, including in respect of Collateral Assets that have been subject to an Asset Value Adjustment Event.
More Definitions of Asset Value Adjustment Event
Asset Value Adjustment Event means, with respect to any Collateral Asset, the occurrence of any one or more of the following events (which, for the avoidance of doubt, may occur more than once) after the related Addition Cut-Off Date: (i) (a) for Rated Collateral Assets (including Rated Collateral Assets which are Priced Loans or Senior Secured Bonds), a Rating Agency providing a Rating for such Collateral Asset has downgraded such Rating from the Rating in effect on the Addition Cut-Off Date and to a rating below “B-” (in the case of S&P or Fitch) or “B3” (in the case of ▇▇▇▇▇’▇), as applicable, or other equivalent rating level from another Rating Agency (it being understood that each downgrade shall be deemed to be a separate Asset Value Adjustment Event), or (b) for any Collateral Asset, the Updated Asset Value of such Collateral Asset reflected on the books and records of the Collateral Manager as of any Updated Asset Value Determination Date has declined by 15.0% or more below the Updated Asset Value of such Collateral Asset as of the immediately prior Updated Asset Value Determination Date; (ii) there is a default as to all or any portion of one or more payments of principal and/or interest (i) with respect to such Collateral Asset (giving effect to any grace period applicable thereto but in no event exceeding five (5) Business Days past the applicable due date) or (ii) under any other debt obligation of the Obligor which is senior or pari passu in right of payment to such Collateral Asset
Asset Value Adjustment Event. With respect to any Loan, the occurrence of any of the following: