| Other Permitted LC Facility Cap · Incurrence | Aggregate amount shall not exceed the remainder of $400,000,000 minus the LC Exposure under this Agreement | loose $400000bn vs incurrence median $560m (n=11) | source ↗ |
| Special Unsecured Indebtedness Cap · Incurrence | Aggregate amount shall not exceed $1,500,000,000; combined with Unsecured Shorter-Term Indebtedness shall not exceed $1,500,000,000 | loose $1.5bn vs incurrence median $560m (n=11) | source ↗ |
| Investments in Non-Subsidiary Guarantors · Negative Covenant | Borrowing Base after giving effect to Investment must be at least 110% of Covered Debt Amount, or Borrowing Base coverage not diminished | loose 110% vs negative covenant median 20% (n=79) | source ↗ |
| Covered Debt Amount vs. Borrowing Base · Financial | Covered Debt Amount shall not exceed the Borrowing Base then in effect | | source ↗ |
| Aggregate Covered Debt Amount vs. Aggregate Portfolio Balance · Financial | Aggregate Covered Debt Amount shall not exceed the Aggregate Portfolio Balance then in effect | | source ↗ |
| Applicable Margin - Term Benchmark / RFR · Pricing | 1.350% if Borrowing Base >= 1.60x LC Exposure; 1.450% if Borrowing Base < 1.60x LC Exposure | market 1.6x vs pricing median 2x (n=7) | source ↗ |
| Borrowing Base Deficiency Cure Period · Maintenance | Must be cured within 5 Business Days of Borrowing Base Certificate delivery, or within 30 Business Days under a feasible plan | | source ↗ |
| Participation Interest Inclusion Period · Portfolio | No Participation Interest may be included in the Borrowing Base for more than 90 days | | source ↗ |
| Commitment Fee Rate · Fees | 0.40% per annum on average daily unused Commitment from Third Amendment Effective Date | | source ↗ |
| Consolidated Asset Coverage Ratio · Financial | Not less than 150% at the last day of any fiscal quarter | tight 150% vs coverage median 25% (n=7) | source ↗ |
| Restricted Payments - Coverage Test · Restricted Payments | Covered Debt Amount shall not exceed 90% of Borrowing Base; Aggregate Covered Debt Amount shall not exceed 90% of Aggregate Portfolio Balance; no Default continuing | market 90% vs coverage median 25% (n=7) | source ↗ |
| Maximum Commitment Increase · Structural | Total Commitments of the Issuing Bank shall not exceed $400,000,000 | market $400m vs structural median $375m (n=29) | source ↗ |
| Secured Indebtedness Cap · Incurrence | Liens securing Indebtedness not exceeding $50,000,000 at any one time outstanding | tight $50m vs incurrence median $560m (n=11) | source ↗ |
| Other Indebtedness General Cap · Incurrence | Not to exceed $100,000,000 at any time outstanding | tight $100m vs incurrence median $560m (n=11) | source ↗ |
| Non-Performing Portfolio Investments Cap · Portfolio | Non-Performing Portfolio Investments shall not exceed 10%; Portfolio Investments that were Non-Performing at acquisition shall not exceed 5% of Aggregate Portfolio Balance | market 10% vs portfolio median 10% (n=6) | source ↗ |
| Non-US Portfolio Investments Cap · Portfolio | Portion attributable to Portfolio Investments outside specified countries shall not exceed 5% without Issuing Bank consent | tight 5% vs portfolio median 10% (n=6) | source ↗ |
| Non-Performing/Non-Cash Pay Portfolio Cap · Portfolio | Performing Non-Cash Pay High Yield, Performing Non-Cash Pay Mezzanine, Equity Interests and Non-Performing Portfolio Investments shall not exceed 15% of Aggregate Portfolio Balance | loose 15% vs portfolio median 10% (n=6) | source ↗ |
| Equity Interests Cap · Portfolio | Portion of Aggregate Portfolio Balance attributable to Equity Interests shall not exceed 10% | market 10% vs portfolio median 10% (n=6) | source ↗ |