oan is any Unfunded Commitments that have not been irrevocably reduced with respect to such Revolving Loan: provided that: (i) for all purposes, the Principal Balance of any Equity Security and any exchanged Equity Security win be deemed zero; (ii) for all purposes (other than calculating Overcollateralization R

ate, the "S&P Recovery Amount" for any Collateral Obligation of a given category will be the product of (x) the applicable S&P Recovery Rate and (y) the Principal Balance of such Collateral Obligation. "Sale Proceeds": All proceeds (excluding accred interest included in the Interest Proceeds) received with respect t

faulted Obligation until such time as interest and principal, as applicable, are received when due with respect to such Collateral Obligation; (b) the Principal Balance of any Equity Security will be deemed to be zero; (c) the Principal Balance of any PIK Security and any Partial P1K Security will not include defe

March 2017 0.75 June 2017 0.50 September 2017 0.25 "Weighted Average Moody's Rating Factor": The sum of the products obtained by multiplying the Principal Balance of each Pledged Collateral Obligation (other than Defaulted Obligations and Equity Securities) by its Moody's Rating Factor, dividing such sum by th

urposes of determinations of the Principal Balance of any Collateral Obligation pursuant to this clause (d), if more than one subclause would apply. the Principal Balance of such Collateral Obligation will be the lowest value determined under such applicable subclauses: (e) the Principal Balance of a Credit Facility

Current Pay Obligation and "CCC-". "S&P Weighted Average Recovery• Rate": The number obtained by (i) summing the products obtained by multiplying the Principal Balance of each Collateral Obligation (other than a Defaulted Obligation) by its respective S&P Recovery Rate. (ii) dividing such sum by the Aggregate Princ

ate, the "S&P Recovery Amount" for any Collateral Obligation of a given category will be the product of (x) the applicable S&P Recovery Rate and (y) the Principal Balance of such Collateral Obligation. "Sale Proceeds": All proceeds (excluding accred interest included in the Interest Proceeds) received with respect t

d on the Moody's Rating Schedule. "Moody's Weighted Average Recovery Rate": The number obtained by (i) summing the products obtained by multiplying the Principal Balance of each Pledged Collateral Obligation (other than a Defaulted Obligation) by its respective Moody's Recovery Rate, (ii) dividing such sum by the Ag

faulted Obligation until such time as interest and principal, as applicable, are received when due with respect to such Collateral Obligation; (b) the Principal Balance of any Equity Security will be deemed to be zero; (c) the Principal Balance of any PIK Security and any Partial P1K Security will not include defe

March 2017 0.75 June 2017 0.50 September 2017 0.25 "Weighted Average Moody's Rating Factor": The sum of the products obtained by multiplying the Principal Balance of each Pledged Collateral Obligation (other than Defaulted Obligations and Equity Securities) by its Moody's Rating Factor, dividing such sum by th

dy's": Moody's Investors Service. "Moody's Weighted Average Recovery Rate": The number obtained by (i) summing the products obtained by multiplying the Principal Balance of each Collateral Obligation (other than a Defaulted Obligation) by its respective Moody's Recovery Rate. (ii) dividing such sum by the Aggregate P

g Loan any Unfunded Commitments that have not been irrevocably reduced with respect to such Revolving Loan; provided that: (i) for all purposes, the Principal Balance of any Equity Security and any exchanged Equity Security will be deemed zero; (ii) for all purposes (other than calculating Overcollateralization

Equity Securities and, with respect to any Revolving Loans, the principal balance of both the funded and unfunded portions shall be reported; (ii) the Principal Balance of all Eligible Investments and Cash in each of the Accounts; (iii) the nature, source and amount of any proceeds in the Collection Account and i

he Trustee to purchase additional Collateral Obligations with the proceeds of such sales that have an Aggregate Principal Balance at least equal to the Principal Balance of such Collateral Obligation sold; and (C) The ratings by Moody's on any Class A Notes are not one or more rating subcategories, and the ratings

with Sale Proceeds of a Credit Improved Obligation, the Aggregate Principal Balance of such additional Collateral Obligations is at least equal to the Principal Balance of such sold Collateral Obligation. (c) On any date following the Reinvestment Period, provided that no Event of Default has occurred and is cont

ntage and determined separately for each of the Senior Facility and the Mezzanine Facility, obtained by summing the products obtained by multiplying the Principal Balance (excluding purchased accrued interest) of each Collateral Obligation by its DBRS Recovery Rate, dividing such sum by the aggregate Principal Balance

withdrawn with respect to such qualifying Revolving Collateral Obligation or Delayed Drawdown Collateral Obligation: provided that for all purposes the Principal Balance of (1) any Equity Security or interest-only strip shall be deemed to be zero, and (2) any Defaulted Obligation that is not sold or terminated withi

igation that is a Defaulted Obligation or a Deferring Obligation, an amount equal to the product of (a) the applicable Moody's Recovery Rate and (b) the Principal Balance of such Collateral Obligation.] ]"Moody's Recovery Rate": Wth respect to any Collateral Obligation, as of any Measurement Date, the recovery rate

Equity Securities and, with respect to any Revolving Loans, the principal balance of both the funded and unfunded portions shall be reported; (ii) the Principal Balance of all Eligible Investments and Cash in each of the Accounts; (iii) the nature, source and amount of any proceeds in the Collection Account and i