| 摘要 |
A collateralized debt obligation is described having a subordinated revolver note. The revolver noteholder is committed providing funds to purchase additional assets to maintain the original principal value of the collateral. The amount of additional assets is determined at the end of each due period on the determination date. Funds to purchase the additional assets are received from the revolver noteholder, if required, on the payment date. The payment date follows the determination date by a predetermined period, preferably by five business days. The delay between the determination date and the payment date reduces the liquidity requirement of the revolver noteholder thereby increasing the marketability of the revolver note.
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