S&P Weighted Average Rating Factor definition

S&P Weighted Average Rating Factor. The number determined by (a) summing the products of (i) the Principal Balance of each Collateral Obligation (excluding Defaulted Obligations and Equity Securities) multiplied by (ii) the S&P Rating Factor of such Collateral Obligation; and (b) dividing such sum by the Principal Balance of all such Collateral Obligations.

S&P Weighted Average Rating Factor. The meaning specified in Schedule 7.

S&P Weighted Average Rating Factor. As of any date of determination, the number equal to (A) the sum of the products, determined with respect to each Collateral Obligation with an S&P Rating of “CCC-” or higher, of (i) the S&P Rating Factor of such Collateral Obligation multiplied by (ii) the outstanding Principal Balance of such Collateral Obligation divided by (B) the aggregate outstanding Principal Balance on such date of all Collateral Obligations with an S&P Rating of “CCC-” or higher.

S&P Weighted Average Rating Factor means, with respect to all Collateral Obligations with an S&P Rating of “CCC-” or higher, (A) the sum of the product of (i) the Principal Balance of each such Collateral Obligation and (ii) the S&P Rating Factor for such Collateral Obligation divided by (B) the aggregate principal balance for all such Collateral Obligations.

S&P Weighted Average Rating Factor means the value calculated by multiplying the Principal Balance for each S&P CLO Specified Asset by its S&P Global Ratings Factor, then summing the results of all S&P CLO Specified Assets, and then dividing this result by the Aggregate Principal Balance of the S&P CLO Specified Assets.

S&P Weighted Average Rating Factor. The quotient equal to ‘A divided by B’, where: A = the sum of the products, for all Collateral Obligations (excluding Defaulted Obligations) of (i) the Principal Balance of the Collateral Obligation and (ii) the S&P Rating Factor of the Collateral Obligation; and B = the Aggregate Principal Balance of all Collateral Obligations (excluding Defaulted Obligations).

S&P Weighted Average Rating Factor. The number determined by:

S&P Weighted Average Rating Factor. The quotient equal to ‘A divided by B’, where: A = the sum of the products, for all S&P CLO Specified Assets of (i) the principal balance of the Collateral Obligation and (ii) the S&P Rating Factor of the Collateral Obligation; and B = the Aggregate Principal Balance of all S&P CLO Specified Assets. “Sale”: The meaning specified in Section 5.17. “Sale Notice”: The meaning specified in Section 5.4. “Sale Proceeds”: All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII (or Article V, if applicable) less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator, the Loan Agent or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest and Principal Financed Capitalized Interest received in respect of such sale. “Scheduled Distribution”: With respect to any Collateral Obligation, each payment of principal and/or interest scheduled to be made by the related Obligor under the terms of such Collateral Obligation (determined in accordance with the assumptions specified in Section 1.3 hereof) after (a) in the case of the initial Collateral Obligations, the Closing Date or (b) in the case of Collateral Obligations added after the Closing Date, the related Cut-Off Date, as adjusted pursuant to the terms of the related Underlying Documents. “Second Lien Loan”: Any Loan or assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations) but which is subordinated (with respect to liquidation preferences with respect to pledged collateral) to a Senior Secured Loan of the Obligor; (b) is secured by a valid second-priority perfected security interest or lien in, to or on specified collateral (subject to customary exceptions for permitted Liens, including, without limitation, any tax liens) securing the Obligor’s obligations under the Second Lien Loan the value of which is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal or higher seniority secured by a lien or security interest in the same collateral and (...

S&P Weighted Average Rating Factor means the quotient equal to 'A divided by B', where: A = the sum of the products, for all Collateral Loans (excluding Defaulted Loans) of (i) the Principal Balance of the Collateral Loans and (ii) the S&P Rating Factor of the Collateral Loan; and B = the Aggregate Principal Balance of all Collateral Loans (excluding Defaulted Loans). "Specified Change" means any amendment, consent, modification or waiver of, or supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity, (b) unless the Collateral Quality Tests, the Senior Advance Rate Test and the Overcollateralization Ratio Test are each satisfied, or if not satisfied, maintained or improved, in each case after giving effect thereto, reduces or forgives the principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (c) reduces the rate of interest payable on a Collateral Loan below a rate of (i) 4.00% per annum in the case of a Fixed Rate Obligation and (ii) SOFR (or other applicable benchmark rate) plus 2.50% per annum in the case of a Floating Rate Obligation, (d) postpones the Due Date of any Scheduled Distribution in respect of a Collateral Loan, unless the Maximum Weighted Average Life Test is satisfied after giving effect to such change, (e) subordinates (in right of payment, with respect to liquidation