Collateral Quality Matrix definition

Collateral Quality Matrix means, for any date of determination, the row/column combination of the table set forth below in this definition that has been selected by the Collateral Manager (in accordance with the procedures described in the next two sentences) for use in determining the scores that are required to satisfy the Diversity Test, the Minimum Weighted Average Spread Test and the Moody's Weighted Average Rating Factor Test. The Collateral Manager may elect from time to time, subject to the terms hereof, to apply a different row/column combination of the table set forth below in the definition. In determining whether the criteria set forth in the Collateral Quality Matrix are satisfied, the Collateral Manager may interpolate linearly between any two adjacent rows and/or two adjacent columns, as applicable.

Collateral Quality Matrix. The matrix set forth on Annex VI.

Collateral Quality Matrix. The Collateral Quality Matrix set forth on Schedule III hereto. On or prior to the Closing Date, the Borrower (or the Collateral Manager on the Borrower’s behalf) must specify to the Administrative Agent (with a copy to the Collateral Custodian, the Collateral Administrator, the Rating Agency and the Lenders) the Grid Number to be in effect for purposes of calculations relating to the Collateral Quality Test. Thereafter, upon not less than two Business Days’ notice to the Administrative Agent (with a copy to the Collateral Custodian, the Collateral Administrator, the Rating Agency and the Lenders), the Borrower (or the Collateral Manager on the Borrower’s behalf) may specify a different Grid Number to be in effect for purposes of calculations relating to the Collateral Quality Matrix, provided that, after giving effect to such change, (a) the Advance Rate Test will be satisfied (or, if the Advance Rate Test was not satisfied immediately prior to giving effect to such change, the degree of compliance with the Advance Rate Test will be maintained or improved immediately after giving effect to such change) and (b)(i) each component of the Collateral Quality Test will be satisfied or (ii) if each component of the Collateral Quality Test was not satisfied for the Grid Number applicable immediately prior to such change and would not be satisfied by changing to any other Grid Number (or interpolating on a linear basis), the Grid Number selected by the Collateral Manager will be a Grid Number under which the extent of compliance with each component of the Collateral Quality Test is maintained or improved relative to the extent of compliance with applicable components of the Collateral Quality Test under the applicable Grid Number in use immediately prior to giving effect to such change. Notwithstanding the foregoing, only Grid Numbers 1 and 2 may be in effect prior to the Effective Date and may not be in effect thereafter.

Collateral Quality Matrix means the Collateral Quality Matrix set forth on Schedule E. On or prior to the Closing Date, the Collateral Manager shall specify to the Agents (with a copy to the Senior Lenders) the Applicable Row Level to be in effect initially. Thereafter, upon not less than 2 Business Days’ prior written notice to the Agents (with a copy to the Senior Lenders), the Borrower or the Collateral Manager may specify a different Applicable Row Level than the one in use at that time; provided that the Borrower demonstrates compliance with all columns in the table for the proposed Applicable Row Level on Schedule E and the Collateral Manager confirms, on a pro forma basis, that (i) the Concentration Limitations would be maintained or improved after giving effect to such proposed Applicable Row Level, (ii) each of the Collateral Quality Tests would be satisfied after giving effect to such proposed Applicable Row Level; (iii) the Coverage Tests would be satisfied after giving effect to such proposed Applicable Row Level; (iv) the Portfolio Advance Rate is less than or equal to the Maximum Advance Rate after giving effect to such proposed Applicable Row Level; and (v) no Commitment Shortfall would occur as a result of giving effect to such proposed Applicable Row Level.

Collateral Quality Matrix means the table set forth below. On or prior to the Closing Date, the Collateral Manager shall specify to the Agents (with a copy to DBRS and the Lenders) the Applicable Row Level to be in effect initially. Thereafter, upon not less than ten Business Days’ prior written notice to the Agents (with a copy to DBRS and the Lenders), the Borrower or the Collateral Manager may specify a different Applicable Row Level than the one in use at that time; provided that the Borrower demonstrates compliance with all columns in the table below for the proposed Applicable Row Level. 1 < 5 237.50% 250.00% 2 >=5 and <10 211.11% 222.22% 3 >= 10 190.00% 200.00%

Collateral Quality Matrix means the Collateral Quality Matrix set forth on Schedule D. As of the Closing Date, Grid Number 7 shall be in effect for purposes of calculations relating to the Collateral Quality Tests. Thereafter, upon not less than one Business Day's notice to the Agents (with a copy to each Rating Agency then rating any Class of Loans and the Lenders), the Borrower may specify a different Grid Number to be in effect for purposes of calculations relating to the Collateral Quality Matrix; provided that, after giving effect to such change, each of the Collateral Quality Tests will be satisfied; provided further that the Borrower will be limited in specifying a different Grid Number to 3 times in any fiscal quarter.

Collateral Quality Matrix. The chart set forth in Annex F used to determine which values are applicable for purposes of determining compliance with the Weighted Average Spread Test, the Diversity Score Test and the W▇▇▇ Test, as set forth in Section 6.12.