Participated Loans Sample Clauses

Participated Loans. (a) In connection with the initial Conveyance on the Effective Date of certain Effective Date Participations, and in connection with any conveyance of certain Participation Interests thereafter on any Subsequent Conveyance Date, the Transferor and the Transferee shall use commercially reasonable efforts to cause the relevant participation to be elevated to an assignment pursuant to the provisions of Section 2.4(c). Such elevation is referred to herein as the “Elevation” with respect to any Participated Loan, and the date of any such Elevation is referred to herein as the related “Elevation Date”. With respect to each Participated Loan, on each Conveyance Date, the Transferor hereby assigns, transfers and grants to the Transferee, without recourse (except to the extent specifically provided herein) and the Transferee hereby acquires from the Transferor, a 100% undivided participation interest in such Collateral Obligation, which interest shall include, to the extent permitted to be transferred under the terms governing such Collateral Obligation and under Applicable Law, all claims, causes of action and any other right of the Transferor (in its capacity as a lender under any credit documentation executed and delivered in connection with a Collateral Obligation), whether known or unknown, against any obligor or any of its affiliates, agents, representatives, contractors, advisors or other Person arising under or in connection with such documentation or that is in any way based on or related to any of the foregoing or the loan transactions governed thereby, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations transferred pursuant to this Agreement, in each case, for settlement of Conveyance on the applicable Conveyance Date upon the terms and subject to the conditions set forth in this Agreement. For the avoidance of doubt, the Transferor and the Transferee agree that the tenor, interest rate and other terms of each Participated Loan shall be coextensive with those of the underlying Collateral Obligation. (b) The Transferor agrees that, until the Elevation of each Participated Loan has been completed, it shall exercise the same duty of care in the administration and enforcement of each such Participated Loan that it would exercise if it held the Participated Loans solely for its own account, but in any event, no less than a commercially reasonable standard o...
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Participated Loans. The Seller acknowledges that its sale of the Participated Loans to the Purchaser is irrevocable, except to the extent otherwise provided under the Transaction Documents.
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Participated Loans. Any Participated Loan included in the Collateral (other than a Qualified Participated Loan) shall be converted to a full assignment within 60 days following the Closing Date.
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Participated Loans. Buyer hereby agrees to assume the role of lead lender for any Loan in which a portion of the Loan was participated to one or more other entities and in which Seller was the lead lender as of the Loan Sale Closing Date. Buyer hereby agrees to accept any such Participated Loan subject to all participants’ right, title and interest in such Participated Loan. In the event any Loan purchased is a Participated Loan, whether or not Seller was the lead lender as of the Loan Sale Closing Date, Buyer agrees to, within 30 days after the Loan Sale Closing Date, notify all participants that Buyer has purchased the participation interest of the Failed Bank.
Sample 1
Participated Loans. Xxxxx agrees to assume the role of lead lender for any Loan in which a portion of the Loan was participated to one or more other entities and in which Seller was the lead lender as of the Closing Date. Xxxxx agrees to accept any such Participated Loan subject to all of the participants’ right, title, and interest in such Participated Loan. In the event that any Loan purchased is a Participated Loan, whether or not Seller was the lead lender as of the Closing Date, Xxxxx agrees to, within 30 days after the Closing Date, notify all participants that Xxxxx has purchased the participation interest of the Failed Bank.
Sample 1

Related to Participated Loans

  • Loans (a) Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in accordance with their applicable Commitments; provided, however, that the failure of any Lender to make any Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to make any Loan required to be made by such other Lender). The Loans comprising any Borrowing shall be in an aggregate principal amount that is an integral multiple of $100,000 and not less than $500,000. (b) Subject to Sections 2.08 and 2.14, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request pursuant to Section 2.03. Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than five Eurodollar Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings. (c) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds to such account in New York City as the Administrative Agent may designate not later than 1:00 p.m., New York City time, and the Administrative Agent shall promptly credit the amounts so received to an account designated by the Borrower in the applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met, return the amounts so received to the respective Lenders. (d) Unless the Administrative Agent shall have received notice from a Lender prior to the date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If the Administrative Agent shall have so made funds available then, to the extent that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower to but excluding the date such amount is repaid to the Administrative Agent at (i) in the case of the Borrower, a rate per annum equal to the interest rate applicable at the time to the Loans comprising such Borrowing and (ii) in the case of such Lender, a rate determined by the Administrative Agent to represent its cost of overnight or short-term funds (which determination shall be conclusive absent manifest error). If such Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Loan as part of such Borrowing for purposes of this Agreement.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

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