“First Lien First Out Bank Loan” means a First Lien Bank Loan with a ratio of first lien debt to EBITDA (other than if such loan is a Recurring Revenue Loan) that exceeds 5.25 to 1.00, and where the underlying borrower does not also have a Second Lien Bank Loan outstanding.
“First Lien First OutUnitranche Bank Loan” means a First Lien Bank Loan with a ratio of first lien debt to EBITDA (other than if such loan is a Recurring Revenue Loan) that exceeds 5.25 to 25:1.00, and where the underlying borrower does not also have a Second Lien Bank Loan outstanding.
“First Lien First OutUnitranche Bank Loan” means a First Lien Bank Loan with a ratio of first lien debt (net of any cash and cash equivalents solely to the extent such amounts are netted from debt in the debt to EBITDA (other than ifcalculation in the underlying documentation for such loan is a Recurring RevenueFirst Lien Bank Loan) to EBITDA that exceeds 5.25 to 25:1.00, and where the underlying borrower does not also have a Second Lien Bank Loan outstanding.
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