; nor (ii) contain a cross-default provision to a financing facility of the obligor that requires the obligor to comply with a maintenance covenant (including one that may apply only upon the funding of such other loan or financing facility); except that if such loan is pari passu with another loan of the obligor that would not be a covenant lite loan under the criteria in this clause, such loan shall be deemed not to be a covenant lite loan. For purposes of this clause, the term pari passu means treated equally and without preference. (D) Equity The term equity means the most junior class of securities issued by the collateralized loan obligation (excluding any non-economic security such as the issuer’s common stock) and any additional class(es) of securities junior to the collateralized loan obligation’s debt securities. (E) Manager The term manager means an investment manager that is responsible for managing a collateralized loan obligation under the collateralized loan obligation’s governing transaction documents. (F) Open market collateralized loan obligation The term open market collateralized loan obligation means a collateralized loan obligation— (i) whose assets consist predominantly of senior, secured syndicated loans acquired by such collateralized loan obligation directly from the sellers thereof in an open market transaction or from another collateralized loan obligation and of temporary investments; (ii) that is managed by a manager; and (iii) that is not a balance sheet collateralized loan obligation. (G) Open market transaction The term open market transaction means— (i) either an initial loan syndication transaction or a secondary market transaction in which a seller offers senior, secured syndicated loans to prospective purchasers in the loan market on market terms on an arm’s length basis, which prospective purchasers include, but are not limited to, entities that are not affiliated with the seller