{"component": "clause", "props": {"groups": [{"samples": [{"hash": "fkEbtgCdKnP", "uri": "/contracts/fkEbtgCdKnP#participants", "label": "Credit and Security Agreement (Hc2 Holdings, Inc.)", "score": 29.9226551056, "published": true}, {"hash": "5gJ2B24vYG5", "uri": "/contracts/5gJ2B24vYG5#participants", "label": "Credit and Security Agreement (Smartheat Inc.)", "score": 23.5817928314, "published": true}, {"hash": "3gvqcHm91vj", "uri": "/contracts/3gvqcHm91vj#participants", "label": "Credit and Security Agreement (2nd Swing Inc)", "score": 21.0, "published": true}], "snippet": "The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.", "snippet_links": [{"key": "the-lender", "type": "clause", "offset": [0, 10]}, {"key": "not-partners-or-joint-venturers", "type": "clause", "offset": [45, 76]}, {"key": "responsibility-for", "type": "clause", "offset": [125, 143]}, {"key": "act-or-omission", "type": "definition", "offset": [160, 175]}, {"key": "rights-and-powers", "type": "clause", "offset": [208, 225]}, {"key": "lender-may", "type": "definition", "offset": [258, 268]}, {"key": "successors-or-assigns", "type": "definition", "offset": [334, 355]}], "size": 139, "hash": "6576a9613cc967f662f8e5423b5dbceb", "id": 1}, {"samples": [{"hash": "ahdk2Dhaz6z", "uri": "/contracts/ahdk2Dhaz6z#participants", "label": "Credit Agreement (Umh Properties, Inc.)", "score": 37.3559206023, "published": true}, {"hash": "kqXGmItbv5V", "uri": "/contracts/kqXGmItbv5V#participants", "label": "Credit Agreement (Necessity Retail REIT, Inc.)", "score": 34.3524971008, "published": true}, {"hash": "jOJ3asSAFHT", "uri": "/contracts/jOJ3asSAFHT#participants", "label": "Credit Agreement (Umh Properties, Inc.)", "score": 33.8514709473, "published": true}], "snippet": "Each Lender shall have the right at its own cost to grant participations (to be evidenced by one or more agreements or certificates of participation) in the Loans made and Reimbursement Obligations and/or Commitments held by such Lender at any time and from time to time to one or more other Persons; provided that no such participation shall relieve any Lender of any of its obligations under this Agreement, and, provided, further that no such participant shall have any rights under this Agreement except as provided in this Section 12.11, and the Administrative Agent shall have no obligation or responsibility to such participant. Any agreement pursuant to which such participation is granted shall provide that the granting Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower under this Agreement and the other Loan Documents including, without limitation, the right to approve any amendment, modification or waiver of any provision of the Loan Documents, except that such agreement may provide that such Lender will not agree to any modification, amendment or waiver of the Loan Documents that would reduce the amount of or postpone any fixed date for payment of any Obligation in which such participant has an interest. Any party to which such a participation has been granted shall have the benefits of Section 1.11 and Section 10.3", "snippet_links": [{"key": "each-lender", "type": "clause", "offset": [0, 11]}, {"key": "the-right", "type": "clause", "offset": [23, 32]}, {"key": "own-cost", "type": "clause", "offset": [40, 48]}, {"key": "certificates-of-participation", "type": "definition", "offset": [119, 148]}, {"key": "the-loans", "type": "clause", "offset": [153, 162]}, {"key": "reimbursement-obligations", "type": "clause", "offset": [172, 197]}, {"key": "at-any-time", "type": "clause", "offset": [237, 248]}, {"key": "from-time-to-time", "type": "clause", "offset": [253, 270]}, {"key": "other-persons", "type": "definition", "offset": [286, 299]}, {"key": "provided-that", "type": "definition", "offset": [301, 314]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [376, 408]}, {"key": "participant-shall", "type": "definition", "offset": [446, 463]}, {"key": "rights-under-this-agreement", "type": "clause", "offset": [473, 500]}, {"key": "except-as-provided-in", "type": "clause", "offset": [501, 522]}, {"key": "agent-shall", "type": "definition", "offset": [566, 577]}, {"key": "no-obligation", "type": "clause", "offset": [583, 596]}, {"key": "pursuant-to", "type": "definition", "offset": [650, 661]}, {"key": "granting-lender", "type": "definition", "offset": [721, 736]}, {"key": "right-and-responsibility", "type": "clause", "offset": [759, 783]}, {"key": "obligations-of-the-borrower", "type": "definition", "offset": [799, 826]}, {"key": "agreement-and-the-other-loan-documents", "type": "clause", "offset": [838, 876]}, {"key": "without-limitation", "type": "clause", "offset": [888, 906]}, {"key": "right-to-approve", "type": "clause", "offset": [912, 928]}, {"key": "any-amendment", "type": "definition", "offset": [929, 942]}, {"key": "modification-or-waiver", "type": "clause", "offset": [944, 966]}, {"key": "the-loan-documents", "type": "clause", "offset": [987, 1005]}, {"key": "agree-to", "type": "clause", "offset": [1072, 1080]}, {"key": "waiver-of-the", "type": "clause", "offset": [1112, 1125]}, {"key": "payment-of", "type": "definition", "offset": [1204, 1214]}, {"key": "has-an-interest", "type": "definition", "offset": [1256, 1271]}, {"key": "benefits-of", "type": "clause", "offset": [1345, 1356]}, {"key": "section-103", "type": "clause", "offset": [1374, 1386]}], "size": 100, "hash": "776a952d1ab2705632a084b68f1bbf2b", "id": 2}, {"samples": [{"hash": "kNUkMcphiTw", "uri": "/contracts/kNUkMcphiTw#participants", "label": "Credit Agreement (Investors Real Estate Trust)", "score": 30.7084197998, "published": true}, {"hash": "bQBPGFqiSbS", "uri": "/contracts/bQBPGFqiSbS#participants", "label": "Credit Agreement (Investors Real Estate Trust)", "score": 29.6789875031, "published": true}, {"hash": "iSFtmyp2SOC", "uri": "/contracts/iSFtmyp2SOC#participants", "label": "Credit Agreement (Investors Real Estate Trust)", "score": 28.1950721741, "published": true}], "snippet": "Each Lender shall have the right at its own cost to grant participations (to be evidenced by one or more agreements or certificates of participation) in the Loans made and Reimbursement Obligations and/or Commitments held by such Lender at any time and from time to time to one or more other Persons; provided that no such participation shall relieve any Lender of any of its obligations under this Agreement, and, provided, further that no such participant shall have any rights under this Agreement except as provided in this Section 12.11, and the Administrative Agent shall have no obligation or responsibility to such participant. Any agreement pursuant to which such participation is granted shall provide that the granting Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower under this Agreement and the other Loan Documents including, without limitation, the right to approve any amendment, modification or waiver of any provision of the Loan Documents, except that such agreement may provide that such Lender will not agree to any modification, amendment or waiver of the Loan Documents that would reduce the amount of or postpone any fixed date for payment of any Obligation in which such participant has an interest. Any party to which such a participation has been granted shall have the benefits of Section 1.11, Section 10.3, and Section 12.1 hereof (subject to the requirements and limitations therein, including the requirements under Section 12.1(g) (it being understood that the documentation required under Section 12.1(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such participant (A) agrees to be subject to the provisions of Section 12.1(g) as if it were an assignee under Section 12.12(a); and (B) shall not be entitled to receive any greater payment under Sections 10.3 or 12.1, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the participant acquired the applicable participation. The Borrower and each Guarantor authorizes each Lender to disclose to any participant or prospective participant under this Section 12.11 any financial or other information pertaining to each Guarantor, the Borrower or any Subsidiary, provided that such participant or prospective participant shall be subject to the provisions of Section 12.25.", "snippet_links": [{"key": "each-lender", "type": "clause", "offset": [0, 11]}, {"key": "the-right", "type": "clause", "offset": [23, 32]}, {"key": "own-cost", "type": "clause", "offset": [40, 48]}, {"key": "certificates-of-participation", "type": "definition", "offset": [119, 148]}, {"key": "the-loans", "type": "clause", "offset": [153, 162]}, {"key": "reimbursement-obligations", "type": "clause", "offset": [172, 197]}, {"key": "at-any-time", "type": "clause", "offset": [237, 248]}, {"key": "from-time-to-time", "type": "clause", "offset": [253, 270]}, {"key": "other-persons", "type": "definition", "offset": [286, 299]}, {"key": "provided-that", "type": "definition", "offset": [301, 314]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [376, 408]}, {"key": "participant-shall", "type": "definition", "offset": [446, 463]}, {"key": "rights-under-this-agreement", "type": "clause", "offset": [473, 500]}, {"key": "except-as-provided-in", "type": "clause", "offset": [501, 522]}, {"key": "section-121", "type": "clause", "offset": [528, 540]}, {"key": "agent-shall", "type": "definition", "offset": [566, 577]}, {"key": "no-obligation", "type": "clause", "offset": [583, 596]}, {"key": "granting-lender", "type": "definition", "offset": [721, 736]}, {"key": "right-and-responsibility", "type": "clause", "offset": [759, 783]}, {"key": "obligations-of-the-borrower", "type": "definition", "offset": [799, 826]}, {"key": "agreement-and-the-other-loan-documents", "type": "clause", "offset": [838, 876]}, {"key": "without-limitation", "type": "clause", "offset": [888, 906]}, {"key": "right-to-approve", "type": "clause", "offset": [912, 928]}, {"key": "any-amendment", "type": "definition", "offset": [929, 942]}, {"key": "modification-or-waiver", "type": "clause", "offset": [944, 966]}, {"key": "the-loan-documents", "type": "clause", "offset": [987, 1005]}, {"key": "agree-to", "type": "clause", "offset": [1072, 1080]}, {"key": "waiver-of-the", "type": "clause", "offset": [1112, 1125]}, {"key": "payment-of", "type": "definition", "offset": [1204, 1214]}, {"key": "has-an-interest", "type": "definition", "offset": [1256, 1271]}, {"key": "benefits-of", "type": "clause", "offset": [1345, 1356]}, {"key": "section-103", "type": "clause", "offset": [1371, 1383]}, {"key": "requirements-and-limitations", "type": "clause", "offset": [1425, 1453]}, {"key": "documentation-required", "type": "definition", "offset": [1542, 1564]}, {"key": "participating-lender", "type": "clause", "offset": [1613, 1633]}, {"key": "to-the-same-extent", "type": "definition", "offset": [1636, 1654]}, {"key": "a-lender", "type": "definition", "offset": [1669, 1677]}, {"key": "pursuant-to-paragraph", "type": "clause", "offset": [1722, 1743]}, {"key": "agrees-to", "type": "clause", "offset": [1800, 1809]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [1824, 1849]}, {"key": "to-receive", "type": "definition", "offset": [1938, 1948]}, {"key": "with-respect-to", "type": "clause", "offset": [1998, 2013]}, {"key": "except-to-the-extent", "type": "clause", "offset": [2100, 2120]}, {"key": "entitlement-to", "type": "clause", "offset": [2126, 2140]}, {"key": "change-in-law", "type": "clause", "offset": [2182, 2195]}, {"key": "the-participant", "type": "clause", "offset": [2214, 2229]}, {"key": "the-applicable", "type": "clause", "offset": [2239, 2253]}, {"key": "to-disclose", "type": "definition", "offset": [2324, 2335]}, {"key": "prospective-participant", "type": "definition", "offset": [2358, 2381]}, {"key": "other-information", "type": "definition", "offset": [2424, 2441]}, {"key": "pertaining-to", "type": "definition", "offset": [2442, 2455]}], "size": 57, "hash": "f5ebc2936db93422b473297ad28143d9", "id": 3}, {"samples": [{"hash": "k5YGc8bMHxf", "uri": "/contracts/k5YGc8bMHxf#participants", "label": "Credit Agreement (AlTi Global, Inc.)", "score": 35.143737793, "published": true}, {"hash": "ft9pILPdRdS", "uri": "/contracts/ft9pILPdRdS#participants", "label": "Credit Agreement (AlTi Global, Inc.)", "score": 35.143737793, "published": true}, {"hash": "kJdpdri2HSN", "uri": "/contracts/kJdpdri2HSN#participants", "label": "Senior Secured Credit Facility (Alvarium Tiedemann Holdings, Inc.)", "score": 34.0212173462, "published": true}], "snippet": "Any Lender may at any time, without the consent of, or notice to, Borrower or Administrative Agent, sell participations to any Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, or Borrower or any of Borrower\u2019s Affiliates or Subsidiaries) (each, a \u201cParticipant\u201d) in all or a portion of such Lender\u2019s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender\u2019s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) Borrower, Administrative Agent, the L/C Issuers and Lenders shall continue to deal solely and directly with such Lender in connection with such Lender\u2019s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 9.6 with respect to any payments made by such Lender to its Participant(s). Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the proviso of Section 11.11 that affects such Participant. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 agrees that each Participant shall be entitled to the benefits of Sections 3.1 through 3.4 and 3.6 (subject to the requirements and limitations therein) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant Section 11.10; provided that such Participant (A) agrees to be subject to the provisions of Section 2.15 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 3.1, 3.2 or 3.6, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019s request and expense, to use reasonable efforts to cooperate with Borrower to effectuate the provisions of Section 2.15 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.14 as though it were a Lender; provided that such Participant agrees to be subject to Section 11.5 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant\u2019s interest in the Loans or other obligations under the Loan Documents (the \u201cParticipant Register\u201d); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant\u2019s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.", "snippet_links": [{"key": "lender-may", "type": "definition", "offset": [4, 14]}, {"key": "at-any-time", "type": "clause", "offset": [15, 26]}, {"key": "administrative-agent", "type": "clause", "offset": [78, 98]}, {"key": "any-person", "type": "definition", "offset": [123, 133]}, {"key": "natural-person", "type": "clause", "offset": [148, 162]}, {"key": "holding-company", "type": "definition", "offset": [169, 184]}, {"key": "investment-vehicle", "type": "definition", "offset": [186, 204]}, {"key": "owned-and-operated", "type": "definition", "offset": [222, 240]}, {"key": "primary-benefit", "type": "clause", "offset": [249, 264]}, {"key": "a-portion", "type": "definition", "offset": [382, 391]}, {"key": "the-loans", "type": "clause", "offset": [509, 518]}, {"key": "provided-that", "type": "definition", "offset": [533, 546]}, 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{"key": "each-participant", "type": "clause", "offset": [24, 40]}], "size": 23, "hash": "fd95bfa7ae17fd274e0c75c9cb3a2049", "id": 5}, {"samples": [{"hash": "exVUZG6afdl", "uri": "/contracts/exVUZG6afdl#participants", "label": "Software Value Added Reseller Services Master Price Agreement", "score": 26.1171550751, "published": true}, {"hash": "dTqzl7txU5N", "uri": "/contracts/dTqzl7txU5N#participants", "label": "Software Value Added Reseller Services Master Price Agreement", "score": 25.6299037933, "published": true}, {"hash": "58ibVpD9hFj", "uri": "/contracts/58ibVpD9hFj#participants", "label": "Software Value Added Reseller Services Master Price Agreement", "score": 25.6299037933, "published": true}], "snippet": "a. Contractor may not deliver Products under this Master Agreement until a Participating Addendum acceptable to the Participating State and Contractor is executed. The NASPO ValuePoint Master Agreement Terms and Conditions are applicable to any Order by a Participating State (and other Purchasing Entities covered by their Participating Addendum), except to the extent altered, modified, supplemented or amended by a Participating Addendum. By way of illustration and not limitation, this authority may apply to unique delivery and invoicing requirements, confidentiality requirements, defaults on Orders, governing law and venue relating to Orders by a Participating State, indemnification, and insurance requirements. Statutory or constitutional requirements relating to availability of funds may require specific language in some Participating Addenda in order to comply with applicable law. The expectation is that these alterations, modifications, supplements, or amendments will be addressed in the Participating Addendum or, with the consent of the Purchasing Entity and Contractor, may be included in the ordering document (e.g. purchase order or contract) used by the Purchasing Entity to place the Order.\nb. Use of specific NASPO ValuePoint cooperative Master Agreements by state agencies, political subdivisions and other Participating Entities (including cooperatives) authorized by individual state\u2019s statutes to use state contracts are subject to the approval of the respective State Chief Procurement Official. Issues of interpretation and eligibility for participation are solely within the authority of the respective State Chief Procurement Official.\nc. Obligations under this Master Agreement are limited to those Participating Entities who have signed a Participating Addendum and Purchasing Entities within the scope of those Participating Addenda. Financial obligations of Participating States are limited to the orders placed by the departments or other state agencies and institutions having available funds. Participating States incur no financial obligations on behalf of political subdivisions. Contractor shall email a fully executed PDF copy of each Participating Addendum to PA@wsca- \u2587\u2587\u2587\u2587\u2587.\u2587\u2587\u2587 to support documentation of participation and posting in appropriate data bases.\n\u2587. \u2587\u2587\u2587\u2587\u2587 Cooperative Purchasing Organization LLC, doing business as NASPO ValuePoint, is not a party to the Master Agreement. It is a nonprofit cooperative purchasing organization assisting states in administering the NASPO cooperative purchasing program for state government departments, institutions, agencies and political subdivisions (e.g., colleges, school districts, counties, cities, etc.) for all 50 states, the District of Columbia and the territories of the United States.\ne. State Participating Addenda or other Participating Addenda shall not be construed to amend the terms of this Master Agreement between the Lead State and Contractor.\nf. 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6}, {"samples": [{"hash": "kQuJosVKUPf", "uri": "/contracts/kQuJosVKUPf#participants", "label": "Unsecured Credit Agreement (Empire District Electric Co)", "score": 21.0711841583, "published": true}, {"hash": "lz5nahflHoK", "uri": "/contracts/lz5nahflHoK#participants", "label": "Unsecured Credit Agreement (Empire District Electric Co)", "score": 21.0, "published": true}, {"hash": "aaXJqFUd1Cw", "uri": "/contracts/aaXJqFUd1Cw#participants", "label": "Unsecured Credit Agreement (Empire District Electric Co)", "score": 21.0, "published": true}], "snippet": "Each Bank shall have the right at its own cost to grant participations (to be evidenced by one or more agreements or certificates of participation) in the Loans made and Commitments held by such Bank at any time and from time to time to other financial institutions; provided that (a) no such participation shall relieve any Bank of any of its obligations under this Agreement (b) no such participant shall have any direct rights under this Agreement except as provided in this Section 11.16, and the Agent shall not have any obligation or responsibility to such participant. Any agreement pursuant to which such participation is granted, except with respect to a participation in which a participant is an Affiliate of a Bank, shall provide that the granting Bank shall retain the sole right and responsibility to enforce the obligations of the Company under this Agreement and the other Loan Documents including, without limitation, the right to approve any amendment, modification or waiver of any provision of the Loan Documents, except that such agreement may provide that such Bank will not agree to any modification, amendment or waiver of the Loan Documents that would reduce the amount of or postpone any fixed date for payment of any obligation in which such participant has an interest. Any party to which such a participation has been granted shall have the benefits of Section 9.3 and Section 9.4 hereof, up to an amount not exceeding the amount that would otherwise have been payable to the Bank who sold the participation interest to such party. Subject to the provisions of Section 11.19 hereof, the Company authorizes each Bank to disclose to any participant or prospective participant under this Section 11.16 any financial or other information pertaining to the Company. 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Any agreement pursuant to which such participation is granted shall provide that the granting Lender shall retain the sole right and responsibility to enforce the obligations of the Borrower under this Agreement and the other Loan Documents including, without limitation, the right to approve any amendment, modification or waiver of any provision of the Loan Documents, except that such agreement may provide that such Lender will not agree to any modification, amendment or waiver of the Loan Documents that would reduce the amount of or postpone any fixed date for payment of any Obligation in which such participant has an interest. 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"also_ask": ["What criteria determine who qualifies as a 'Participant' under this clause?", "How can the definition of 'Participants' be strategically narrowed or broadened during negotiations?", "What are the legal risks if 'Participants' are not clearly defined or are over-inclusive?", "How does this clause compare to standard industry definitions of 'Participants'?", "What evidence is required to prove or challenge someone's status as a 'Participant' in court?"], "drafting_tip": "Clearly identify all participants to avoid ambiguity, specify eligibility criteria to ensure enforceability, and define participant rights and obligations to prevent disputes.", "explanation": "The \"Participants\" clause defines who is considered a party to the agreement or activity governed by the contract. It typically lists or describes the individuals, organizations, or entities that are involved, specifying their roles or capacities. For example, it may clarify whether subcontractors, affiliates, or third parties are included as participants. This clause ensures clarity about who is bound by the contract's terms and helps prevent disputes over the rights and obligations of those involved."}, "json": true, "cursor": ""}}