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.
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.
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.
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.
Participated Loans. US-DOCS\148129643.6
Participated Loans. (i) On any date after the Required Holding Period has expired for a Loan, such Loan may be designated to become a “Participated Loan” hereunder upon the delivery by Servicer (on behalf of a Purchaser) to Lender of a Loan Designation Notice, which Loan Designation Notice shall designate (A) the identity of the Purchaser of the Economic Participation in such Loan, (B) the Loan regarding which an Economic Participation will be sold to such Purchaser, (C) the proposed Sale Date for such Economic Participation, (D) the proposed Cutoff Date for such proposed sale, and (E) the approximate Purchase Price for such proposed sale. Except as set forth in Section 2.12(b)(ii) below, any such Loan Designation Notice shall be delivered to Lender not less than one (1) Business Day prior to the proposed Sale Date.
