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
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The foregoing descriptions are summary in nature. For a fuller<br />
description of such tests, see "Security for the Notes—The Coverage<br />
Tests and Collateral Quality Tests."<br />
Portfolio Profile Test:.............................. The following requirements (subject to the paragraphs of this definition<br />
following clause (ff) below) will apply to the acquisition of Collateral<br />
Debt Obligations (the "Portfolio Profile Test"):<br />
(a) Not less than 92.5% of the Principal Collateral Value will<br />
consist of Floating Rate Collateral Debt Obligations;<br />
(b) Not less than 87.5% of the Principal Collateral Value will<br />
consist of First Lien Loans, Participation interests therein or Synthetic<br />
Securities based on or referencing First Lien Loans;<br />
(c) Not more than 7.5% of the Principal Collateral Value will<br />
consist of Fixed Rate Collateral Debt Obligations;<br />
(d) Not more than 5.0% of the Principal Collateral Value will<br />
consist of senior unsecured loans;<br />
(e) Not more than 5.0% of the Principal Collateral Value will<br />
consist of Second Lien Loans;<br />
(f) Not more than 7.5% of the Principal Collateral Value will<br />
consist of high-yield debt securities;<br />
(g) The aggregate of the Principal Balances of high-yield debt<br />
securities with a Moody's Rating of "Ba3" or higher issued or<br />
guaranteed by a single obligor will not be more than U.S.$2,000,000,<br />
except that the aggregate of the Principal Balances of high-yield debt<br />
securities with a Moody's Rating of "Ba3" or higher issued or<br />
guaranteed by each of three obligors may each be up to<br />
U.S.$4,000,000;<br />
(h) The aggregate of the Principal Balances of high-yield debt<br />
securities with a Moody's Rating of "B1" or lower issued or guaranteed<br />
by a single obligor will not be more than U.S.$1,000,000;<br />
(i) The aggregate of the Principal Balances of high-yield debt<br />
securities with a right to payment that is senior subordinated or more<br />
junior will not be more than U.S.$10,000,000;<br />
(j) Not more than 5.0% of the Principal Collateral Value will<br />
consist of Non-USD Debt Obligations;<br />
(k) Collectively, not more than 12.5% of the Principal Collateral<br />
Value will consist of (i) Second Lien Loans, (ii) senior unsecured loans<br />
and (iii) high-yield debt securities;<br />
(l) Not more than 5.0% of the Principal Collateral Value will<br />
consist of DIP Loans;<br />
(m) Not more than 10.0% of the Principal Collateral Value will<br />
consist of Delayed Draw Term Loans or Revolving Credit Facilities;<br />
(n) Not more than 5.0% of the Principal Collateral Value will<br />
consist of PIK Securities;<br />
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