d payable only in U.S. Dollars. 2. The terms of the obligation do not provide for such obligation to be converted or exchanged at any time into any Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. 3. The obligation (a) has a Moody's Rating (in

nts 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 Ratios). the Principal

would cause the Issuer or the Trustee to violate applicable U.S. margin regulations; (xiv) does not provide for conversion into or exchange for an Equity Security; (xv) if it is a PDC Security, is not deferring interest payments and, in the reasonable business judgment of the Investment Manager, no deferred

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 deferred and capitalized in

ject to Section 12.1(d), the Investment Manager, on behalf of the Issuer, may direct the Trustee to sell: (i) any Defaulted Obligation; (ii) any Equity Security; (iii) any Credit Risk Obligation; (iv) any Appreciated Obligation; and (v) any Collateral Obligation (other than an obligation being sold purs

(b) The terms of the obligation do not provide for such obligation to be converted or exchanged at any time into any Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. (c) The obligation (a) has a Moody's Rating (

d payable only in U.S. Dollars. 2. The terms of the obligation do not provide for such obligation to be converted or exchanged at any time into any Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. 3. The obligation (a) has a Moody's Rating (in

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 deferred and capitalized in

ject to Section 12.1(d), the Investment Manager, on behalf of the Issuer, may direct the Trustee to sell: (i) any Defaulted Obligation; (ii) any Equity Security; (iii) any Credit Risk Obligation; (iv) any Appreciated Obligation; and (v) any Collateral Obligation (other than an obligation being sold purs

nts 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 Ratios), the Principal

ll distributions, any deposit pursuant to Section 10.2(aXiii) and any net proceeds from the sale or other disposition of a Collateral Obligation or Equity Security received by the Trustee shall be promptly deposited into the applicable Collection Account subject to Sections 10.2(aXi) and (ii). (v) Subject to

alifying 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 within three years after becoming

S. Dollars. 9 EFTA00596141 (b) The terms of the obligation do not provide for such obligation to be converted or exchanged at any time into any Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. (c) The obligation (a) has a Moody's Rating (

l distributions, any deposit pursuant to Section I0.2(a)(iii) and any net proceeds from the sale or other disposition of a Collateral Obligation or Equity Security received by the Trustee shall be promptly deposited into the applicable Collection Account subject to Sections 10.2(a)(i) and (ii). (v) Subject to