purchased with the proceeds of a sale of a Collateral Obligation that was not a Discount Obligation at the time of purchase will not be considered a Discount Obligation if such Collateral Obligation (a) together with all such Collateral Obligations excluded from the definition of Discount Obligations on or prior to the date of determination have a cumulative Aggregate Principal Balance of no more than $20 million, (b) has been purchased or committed to be purchased within five Business Days of such sale. (c) has been purchased at a purchase price of at least 65% and that was equal to or greater than the sale price of the sold Collateral Obligation. and (d) its rating (if any) from each Rating Agency is equal to or greater than such rating of the sold Collateral Obligation. For purposes of this definition. a Collateral Obligation. portions of which were purchased at different times and at different prices, will be treated as separate Collateral Obligations (i.e. such portions will not be treated as a single Collateral Obligation with a weighted average purchase price). "Dissolution Expenses": An amount certified by the Investment Manager as the sum of (i) the expenses reasonably likely to be incurred in connection with the discharge of the Indenture and the liquidation of the Collateral and dissolution of the Issuers and (ii) any accrued and unpaid Administrative Expenses. "Distressed Exchange Offer': An offer by the issuer of a Collateral Obligation to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one or more of its outstanding debt obligations for cash, or any combination thereof: provided that an offer by such issuer to exchange unregistered debt obligations for registered debt obligations shall not be considered a Distressed Exchange Offer. "Diversity Test": A test satisfied as of any Measurement Date if the Diversity Score equals or exceeds the applicable number in the columns entitled