S&P Collateral Value definition

S&P Collateral Value means in the case of any Collateral Debt Obligation which is a Defaulted Obligation the lower of:

S&P Collateral Value. With respect to any Defaulted Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation as of the relevant date of determination and (ii) the Market Value of such Defaulted Obligation as of the relevant date of determination.

S&P Collateral Value means, in the case of any Collateral Debt Obligation or Eligible Investment the lower of:

S&P Collateral Value means with respect to any Defaulted Loan or PIKing Loan, the lesser of (i) the S&P Recovery Amount of such Defaulted Loan or PIKing Loan, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Loan or PIKing Loan, as of the relevant Measurement Date.

S&P Collateral Value. With respect to any Defaulted Obligation, Deferring Obligation, Workout Loan, Long Dated Obligation, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation, Deferring Obligation, Workout Loan or Long Dated Obligation, respectively, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation, Deferring Obligation, Workout Loan or Long Dated Obligation, respectively, as of the relevant Measurement Date.

S&P Collateral Value means, as of any date of determination, with respect to any Defaulted Obligation and Deferred Interest Asset, (i) as of any date during the first 30 days in which the obligation is a Defaulted Obligation or a Deferred Interest Asset, the S&P Recovery Amount of such Defaulted Obligation or Deferred Interest Asset and (ii) as of any date after the first 30 days in which the obligation is a Defaulted Obligation or a Deferred Interest Asset, the lesser of (a) the S&P Recovery Amount of such Defaulted Obligation or Deferred Interest Asset, respectively, as of the relevant date of determination and (b) the Principal Balance of such Defaulted Obligation or such Deferred Interest Asset as of such date multiplied by the Current Market Value Percentage thereof as of the most recent Measurement Date.

S&P Collateral Value means in the case of any Collateral Debt Security which is a Defaulted Security the lower of:

S&P Collateral Value means with respect to any asset, the lower of (i) the Principal Balance thereof multiplied by the applicable S&P Recovery Rate thereof as of the relevant Measurement Date and (ii) the Market Value thereof as of the relevant Measurement Date.

S&P Collateral Value. On any date of determination, with respect to any Defaulted Obligation or Deferring Security, the lesser of (i) the S&P Recovery Amount of such Defaulted Obligation or Deferring Security, respectively, as of such date and (ii) the Market Value of such Defaulted Obligation or Deferring Security, respectively, as of such date.