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llateral Obligation: provided, fiirther. that Collateral Obligations constituting no more than 5% of the Collateral Principal Amount may be given an S&P Rating based on this subelause (C) (after giving effect to the addition of the relevant Collateral Obligation. if applicable): provided that if (i) the r

Obligation, together with all information reasonably required by S&P to perform such credit estimate. Notwithstanding the foregoing, in the case of a Collateral Obligation that is a (A) DIP Loan• the S&P Rating shall be (1) the rating assigned thereto by S&P if the rating is public, (2) the rating assigned by S&P if t

ligor or its guarantor is rated by S&P or Moody's, then the Collateral Manager may apply to S&P for a S&P credit rating estimate, which will be its S&P Rating provided that pending such application the S&P Rating of such Collateral Obligation will be deemed to be "CCC+" if the Collateral Manager reasonabl

Obligation, together with all information reasonably required by S&P to perform such credit estimate. Notwithstanding the foregoing, in the case of a Collateral Obligation that is (A) a DIP Loan, the S&P Rating shall be (1) the rating assigned thereto by S&P if the rating is public, (2) the rating assigned by S&P if t

llateral Obligation: provided, fiirther. that Collateral Obligations constituting no more than 5% of the Collateral Principal Amount may be given an S&P Rating based on this subelause (C) (after giving effect to the addition of the relevant Collateral Obligation. if applicable): provided that if (i) the r

Obligation, together with all information reasonably required by S&P to perform such credit estimate. Notwithstanding the foregoing, in the case of a Collateral Obligation that is a (A) DIP Loan• the S&P Rating shall be (1) the rating assigned thereto by S&P if the rating is public, (2) the rating assigned by S&P if t