Octagon Investment Partners IX, Ltd. JPMorgan - Irish Stock Exchange
Octagon Investment Partners IX, Ltd. JPMorgan - Irish Stock Exchange
Octagon Investment Partners IX, Ltd. JPMorgan - Irish Stock Exchange
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
United States or any state thereof but located (or has a branch that is<br />
located) in the United States, and (ii) the credit risk profile of any<br />
Collateral Debt Obligation that is a certificate of beneficial interest in<br />
an equipment trust that has the general characteristics of a debt<br />
obligation and is treated as a debt obligation for U.S. federal income<br />
tax purposes (A) shall be substantially similar to the credit risk profile<br />
that would otherwise have existed had the instrument instead been a<br />
debt obligation, (B) the obligor or the obligation in respect thereof shall<br />
have an underlying Moody's rating and an underlying Standard &<br />
Poor's rating, and (C) the obligor in respect thereof shall be principally<br />
located in the United States; provided, further, that a Non-USD Debt<br />
Obligation may not be purchased by the Issuer unless a Currency<br />
Hedge with a notional amount equal to the outstanding principal<br />
amount of such Non-USD Debt Obligation is entered into by the Issuer<br />
at the direction of the Collateral Manager on or prior to the relevant<br />
settlement date.<br />
Notwithstanding the foregoing, the term Collateral Debt Obligation will<br />
not include:<br />
(i) any obligation that requires the Issuer to make additional or<br />
future advances (other than in the case of a Delayed Draw Term Loan,<br />
Revolving Credit Facility or Synthetic Security);<br />
(ii) any Eligible <strong>Investment</strong>s; and<br />
(iii) any Hedge Agreements.<br />
In addition, the term Collateral Debt Obligations shall include:<br />
(i) any Swap Collateral as to which the lien of the related<br />
Synthetic Security Counterparty has been released following the<br />
termination of a Synthetic Security; provided that such Swap Collateral<br />
satisfied the criteria for Collateral Debt Obligation at the time of the<br />
commitment to purchase; and<br />
(ii) a Deliverable Obligation that satisfies the criteria for inclusion<br />
as a Collateral Debt Obligation delivered to the Issuer pursuant to a<br />
Swap Agreement; provided that, in the event such Obligation does not<br />
qualify as a Collateral Debt Obligation, it shall be accepted by the<br />
Issuer and deemed to be an Equity Security.<br />
In order to ensure that the Issuer is not treated as engaged in a U.S.<br />
trade or business for U.S. federal income tax purposes, the Issuer and<br />
the Collateral Manager will observe certain additional restrictions and<br />
limitations on their activities and on the Collateral Debt Obligations<br />
that may be purchased. Accordingly, although a particular prospective<br />
investment may satisfy the definition of Collateral Debt Obligation, it<br />
may be ineligible for purchase by the Issuer and the Collateral Manager<br />
as a result of these limitations and restrictions.<br />
Coverage Tests and Reinvestment<br />
Overcollateralization Test: ................. The "Coverage Tests" will consist of the Interest Coverage Tests and<br />
the Overcollateralization Tests. The "Interest Coverage Tests" will<br />
consist of the Class A Interest Coverage Test, the Class B Interest<br />
Coverage Test and the Class C Interest Coverage Test. The<br />
"Overcollateralization Tests" will consist of the Class A<br />
8