red by a valid lbw priority security interest in collateral. (b) by its terms is not subordinated to another obligation of the issuer and (c) in the Investmou Manager's commercially reasonable judgment (with such determination being made in good faith by the Investment Manager at the time of such loan's p

red by a valid lbw priority security interest in collateral. (b) by its terms is not subordinated to another obligation of the issuer and (c) in the Investmou Manager's commercially reasonable judgment (with such determination being made in good faith by the Investment Manager at the time of such loan's p