Net Aggregate Exposure Amount definition
Net Aggregate Exposure Amount means the excess (if any) of (i) the aggregate Unfunded Amount on such date over (ii) the sum of (x) amounts on deposit in the Future Funding Reserve Account on such date and (y) amounts on deposit in the Collection Account on such date, including Eligible Investments, representing Principal Proceeds.
Net Aggregate Exposure Amount. The excess of the aggregate of the Exposure Amounts of the Revolving Collateral Obligations and Delayed Drawdown Collateral Obligations over the amount of Principal Proceeds in the Revolver Funding Account.
Net Aggregate Exposure Amount means, at any time, the excess (if any) of (x) the Dollar Equivalent of the aggregate unfunded amounts in respect of all Revolving Collateral Loans and Delayed Drawdown Collateral Loans at such time over (y) the Dollar Equivalent of the aggregate amount on deposit in the Revolving Reserve Account at such time.
Examples of Net Aggregate Exposure Amount in a sentence
The Borrower will ensure that the Net Aggregate Exposure Amount is not greater than zero at the time that the Borrower (or a Subsidiary Guarantor) enters into any commitment to purchase or originate a Loan Asset.
As of any date of determination, any amounts on deposit in the Unfunded Reserve Account that exceed (i) the Unfunded Reserve Required Amount prior to the end of the Reinvestment Period and (ii) the Net Aggregate Exposure Amount following the end of the Reinvestment Period, in each case, shall be transferred into the Principal Collection Account as Principal Collections.
On the Commitment Termination Date and at all times thereafter, the “Revolving Reserve Required Amount” shall equal the sum of (x) the Net Aggregate Exposure Amount, plus (y) the aggregate amount of funds needed to settle purchases of Loans which the Borrower committed, prior to the end of the Reinvestment Period, to acquire after the Commitment Termination Date.
In the event that the Net Aggregate Exposure Amount is greater than zero, the Borrower shall promptly request Advances as and to the extent permitted hereunder, or otherwise use commercially reasonable efforts, to cause the Net Aggregate Exposure Amount to not exceed zero.
More Definitions of Net Aggregate Exposure Amount
Net Aggregate Exposure Amount means, at any time, the sum of (a) the product of (i) the Unfunded Amount of each Eligible Collateral Loan (other than Defaulted Collateral Loans and Haircut Collateral Loans) and (ii) 1 minus the Advance Rate related to such Collateral Loan plus (b) the product of (i) the Unfunded Amount of each Haircut Collateral Loan (other than Defaulted Collateral Loans) and (ii) 1 minus the Recovery Rate related to such Haircut Collateral Loan plus (c) the Unfunded Amount of each Defaulted Collateral Loan and Ineligible Collateral Loan.
Net Aggregate Exposure Amount. At any time, with respect to all Revolving Collateral Obligations and Delayed Drawdown Collateral Obligations, the excess (if any) of (a) the aggregate of such Exposure Amounts at such time over (b) the amount standing to the credit of the Exposure Funding Account.
Net Aggregate Exposure Amount means, at any time, the excess (if any) of (x) the Dollar Equivalent of the aggregate unfunded amounts in respect of all Revolving Loans and Delayed Drawdown Loans at such time over (y) the aggregate amount on deposit in the Revolving Reserve Account at such time. “Non-Cash Paying PIK Loan” means, at any time, a PIK Loan that is deferring all of the cash interest that is due at such time. “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all affected Lenders in accordance with the terms of Section 16.01 and (b) has been approved by the Required Lenders. “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. “Noteless Loan” means a Loan with respect to which the Related Documents either (i) do not require the Obligor to execute and deliver a promissory note to evidence the indebtedness created under such Loan or (ii) require execution and delivery of such a promissory note only upon the request of any holder of the indebtedness created under such Loan, and as to which the Borrower has not requested a promissory note from the related Obligor. “Notice of Borrowing” has the meaning assigned to such term in Section 2.02. “Notice of Prepayment” has the meaning assigned to such term in Section 2.05. “Obligations” means all indebtedness, whether absolute, fixed or contingent, at any time or from time to time owing by the Borrower to any Secured Party or any Affected Person under or in connection with this Agreement, the Collateral Agent, Document Custodian, Collateral Administrator and Intermediary Fee Letter or any other Facility Document, including, without
Net Aggregate Exposure Amount. (a) during the Reinvestment Period, the excess (if any) of (i) the aggregate Unfunded Amount on such date over (ii) the sum of (x) amounts on deposit in the Revolver Funding Account on such date and (y) amounts on deposit in the Collection Account on such date, including Eligible Investments, representing Principal Proceeds, and (b) after the Reinvestment Period, the excess (if any) of (i) the aggregate Unfunded Amount on such date over (ii) amounts on deposit in the Revolver Funding Account on such date.
Net Aggregate Exposure Amount means, at any time, the sum of (a) the product of (i) the Unfunded Amount of each Eligible Collateral Loan (other than Defaulted Collateral Loans and Haircut Collateral Loans) and (ii) 1 minus the Advance Rate related to such Collateral Loan plus (b) the product of (i) the Unfunded Amount of each Haircut Collateral Loan (other than Defaulted Collateral Loans) and
Net Aggregate Exposure Amount means, as of any date, the excess of the aggregate of the Exposure Amounts on such date of the Revolving Debt Obligations and Delayed Funding Debt Obligations over the amount of Principal Proceeds standing to the credit of the Class A-2R Future Funding Reserve Account on such date.
Net Aggregate Exposure Amount means, at any time, the excess (if any) of (a) the aggregate amount of unfunded commitment amounts in respect of all Delayed Draw Collateral Asset and Revolving Collateral Assets at such time (other than Delayed Draw Collateral Asset and Revolving Collateral Assets which are no longer required to be funded due to a default or similar condition and the related unfunded commitment is terminated) over (b) the aggregate amount on deposit in the Unfunded Reserve Account at such time converting all amounts not in Dollars to Dollars at the Applicable Exchange Rate. “Noteless Loan” means a Collateral Asset with respect to which the Underlying Instruments (i) do not require the Obligor to execute and deliver a promissory note to evidence the indebtedness created under such Collateral Asset or (ii) require any holder of the indebtedness created under such Collateral Asset to affirmatively request a promissory note from the related Obligor. “Notice and Request for Consent to Lien Release Dividend” has the meaning assigned to that term in Section 2.07(g)(i). “Notice of Borrowing” means an irrevocable written notice of borrowing from the Borrower to the Administrative Agent and each Lender in the form of Exhibit E. “Notice of Exclusive Control” means a Notice of Exclusive Control or other similar notice as defined and described in the Securities Account Control Agreement delivered by the Collateral Agent to the Securities Intermediary. “Notice of Reduction” means a notice of (a) any reduction of the Advances outstanding pursuant to Section 2.16(a), in the form of Exhibit F or (b) any termination of this Agreement pursuant to Section 2.16(b), in the form of Exhibit G. “Obligations” means all present and future indebtedness and other liabilities and obligations (howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, or due or to become due) of the Borrower to the Lenders, the Administrative Agent, the Account Bank, the Collateral Agent or the Collateral Custodian arising under this Agreement and/or any other Transaction Document and shall include, without limitation, all liability for principal of and interest on the Advances, fees, indemnifications and other amounts due or to become due by the Borrower to the Lenders, the Administrative Agent, the Collateral Agent, the Collateral Custodian and the Account Bank under this Agreement and/or any other Transaction Document and costs and expenses payable by the Borrower to the Lenders, th...