Illegal Activity
none
Blackmail
none
Date
2011
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:41
Summary
This document section details the rules governing the sale of collateral obligations by the Investment Manager on behalf of the Issuer, including restrictions on discretionary sales and requirements for handling defaulted obligations and equity securities. It also outlines the process for transferring collateral obligations to a tax subsidiary.
Metadata
- Subject
- ARTICLE XII SALE OF COLLATERAL OBLIGATIONS; SUBSTITUTION
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0072206
- Date
- 2011
Relationships 3
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Investment Manager | business | Issuer | The Investment Manager acts on behalf of the Issuer. |
| Investment Manager | business | Trustee | The Investment Manager directs the Trustee to sell collateral obligations. |
| Issuer | business | Tax Subsidiary | The Issuer transfers ownership of Collateral Obligations to a Tax Subsidiary. |
Notable Quotes 2
"Discretionary Sale Percentage" shall mean, in the case of (a) the calendar year in which the Effective Date occurs, the percentage calculated by multiplying 20% by a ratio, the numerator of which is the number of partial and full calendar months in such year after the Effective Date and the denominator of which is 12, and (b) in each calendar year thereafter, 20%.
On behalf of the Issuer, the Investment Manager will, without regard to whether an Event of Default has occurred, use commercially reasonable efforts to sell: (A) each Defaulted Obligation within 36 months of the date on which it became a Defaulted Obligation; and (B) each Equity Security or Pledged Collateral Obligation that constitutes Margin Stock not later than 45 days after the later of (x) the date of the Issuer's acquisition thereof or (y) the date such Equity Security or Pledged Collateral Obligation became Margin Stock
Financial Information
Amounts:20%
Assets:
- Defaulted Obligation
- Equity Security
- Credit Risk Obligation
- Appreciated Obligation
- Collateral Obligation
- Equity Workout Security
- Pledged Collateral Obligation
- Margin Stock
Transactions:
- Sale of Collateral Obligations
- Reinvestment of proceeds from sale of Collateral Obligations
- Transfer of ownership of Collateral Obligations to a Tax Subsidiary
Raw Analysis JSON
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Themes
Financial transactions/money flowLegal matters/litigationBusiness dealings
Organizations 5
IssuerInvestment ManagerTrusteeTax SubsidiaryLNG IM CLO 2011-1
Locations 1
United States
Text Analysis
- Tone
- Professional
- Purpose
- To define the conditions under which the Investment Manager can sell Collateral Obligations and reinvest the proceeds, and to outline the requirements for handling Defaulted Obligations, Equity Securities, and transfers to a Tax Subsidiary.
- Significance
- This section outlines the rules and restrictions regarding the sale and reinvestment of collateral obligations, which is a key aspect of managing the CLO.
File Info
- File Name
- EFTA01376241.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:41:11.906025
- DOJ Source
- View on DOJ