Participating Lender. The Borrower understands that, although the Revolving Note and the other Loan Documents name the Bank as the holder thereof, the Bank may from time to time sell one or more participation interests in the Revolving Loan to one or more other financial institutions. The Borrower agrees that, subject to the terms of the agreements of participation, each participating lender will be entitled to rely on the terms of this Agreement and the other Loan Documents as fully as if such participating lender had been named as the holder of the Revolving Note and the other Loan Documents.
Participating Lender. The Lender shall have the right, without prior notice to the Debtor or the approval of the Debtor, to designate one or more Participating Lenders and to grant to such Participating Lenders participations in the Receivable Loan Agreement and/or the Inventory Loan, on terms and conditions satisfactory to the Lender. In the event that the Lender so designates a Participating Lender and grants such Participating Lender a participation in any of such Loans, such Participating Lender shall communicate and deal only with the Lender in respect to such Participating Lender's interest in any of such Loans and the Collateral and the Debtor shall communicate and deal hereunder only with the Lender and not with any Participating Lender.
Participating Lender. Lender shall have the right, without prior notice to Borrower or the approval of Borrower, to designate one or more Participating Lenders and to grant to such Participating Lenders participations in the Loan, on terms and conditions satisfactory to Lender. Such Participating Lenders shall communicate and deal only with Lender in respect to such Participating Lenders' interests in the Loan, the Collateral and enforcement of remedies with respect to the Collateral and Borrower shall communicate and deal hereunder only with Lender and not with any Participating Lender. Borrower shall not be liable hereunder to make any payment to any Participating Lender; all of Borrower's Obligations hereunder shall run directly to Lender. Nothing in this Agreement shall restrict or limit any Participating Lender from assigning all or any part of the participations acquired by it in the Loan from Lender or from Lender replacing or causing the replacement of one or more Participating Lenders. Unless Lender provides thirty (30) days prior written notice to Borrower to the contrary, no Participating Lender shall have the right to consent to any request of Borrower made pursuant to this Agreement or any Loan Document, and Borrower shall be entitled to make any such consent requests solely to Lender.
Participating Lender. In the event the Lender shall determine at any time or from time to time to sell one or more participation interests in the Loan to one or more other financial institutions or other lenders, the Borrower agrees that, subject to the terms of the agreements of participation, each participating lender will be entitled to rely on the terms of this Agreement and the other Loan Documents as fully as if such participating lender had been named as the holder of the Note and a party to this Agreement and the other Loan Documents. Any costs or expenses incurred by the Lender in negotiating, preparing or entering into any such participation agreement shall be paid by the Lender.
Participating Lender. (a) is, and will at all times during the term of this Agreement remain, validly existing under the laws of the United States of America and duly authorized to enter into this Agreement; (b) has all requisite power to acquire and own the Participation Interest and to engage in the transactions contemplated hereby; and (c) has the full power, authority and legal right and has taken all necessary action to execute and deliver this Agreement. Participating Lender is a [describe state of formation of participating lender and type of entity], and is, and will at all times during the term of this Agreement remain, in good standing under the laws applicable to Participating Lender. Furthermore, Participating Lender is, to the extent necessary under any applicable law or regulation, duly authorized and qualified to transact any and all business contemplated by this Agreement (or is exempt from such qualification). Participating Lender possesses and shall continue to possess all requisite authority and power to conduct its business and to execute, deliver, and comply with its obligations under this Agreement.
Participating Lender. (1) For the purposes of this Agreement, a lender is a Participating Lender if-
(a) it is an institution that is regulated by a Regulator and operates in the Currency Union;
(b) it provides or intends to provide loans in the ordinary course of business to Qualifying Enterprises;
(c) it is approved by the Credit Guarantee Corporation in accordance with terms and conditions required in this Agreement; and
(d) it agrees to comply with the Credit Guarantee Scheme requirements.
(2) For the purposes of this Agreement, the following shall be prescribed in providing for the assessment of an application by a lender that wishes to become a Participating Lender -
(a) the contents ofthe application form for approval as a Participating Lender;
(b) the method for assessing the financial status, operations, management and lending policies of the lender by providing information to assess the following aspects of the conduct of its business -
(i) its strategic positioning, by reviewing its financial products, its role in providing financing to micro enterprises, small enterprises and medium enterprises, and the extent to which it targets or intends to target specific micro, small and medium enterprise markets;
(ii) its lending policies and procedures, by reviewing the extent to which its credit, security and recoveries policies and procedures, and its standard documentation and ancillary business services support access to loans by micro enterprises, small enterprises and medium enterprises; and
(iii) its additionality, by reviewing the manner in which it will use the Credit Guarantee Scheme to support lending over and above that currently being provided to micro enterprises, small enterprises and medium enterprises;
(c) the manner of notifying the decision relating to an application;
(d) the fees payable, if any, in relation to an application, which shall not exceed the amount prescribed by law.
(3) The Credit Guarantee Corporation may approve a lender as a Participating Lender under this Article if-
(a) the lender agrees in writing to comply with and be bound by the terms of the Credit Guarantee Scheme; and
(b) in the case of a Participating Lender who applies to continue to be a Participating Lender, the Credit Guarantee Corporation is satisfied that the Participating Lender has complied with the terms of the Credit Guarantee Scheme.
(4) The Credit Guarantee Corporation-
(a) may, as a term of the Credit Guarantee Scheme-
(i) vary the fee that may be imposed on Participat...
Participating Lender. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.12, 2.13 and 2.14 with respect to any Participant. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have the obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary in connection with a Tax audit or other inquiry to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the U.S. 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.
Participating Lender. COLLATERAL 3.1 Security 3.2 Undertakings Regarding Collateral 3.3 Financing Statements 3.4 Location of Collateral; Books and Records 3.5 Insurance of Collateral 3.6 Condemnation 3.7 Taxes Affecting Collateral 3.8 Discharge of Liens Affecting Collateral 3.9 Use of Resort 3.10 Other Timeshare Covenants 3.11 Protection of Collateral; Assessments; Reimbursement 3.12 Interest on Lender Paid Expenses 3.13 Lender Responsibility 3.14 Release of Lien on Unsold Inventory Lot/Timeshare Intervals
Participating Lender. 50 2.7 Commitment Fee........................................... 52 2.8 Right of First Refusal................................... 52
Participating Lender. 20 2.5 Fees........................................................... 20 2.6 Computation of Fees; Lawful Limits............................. 21 2.7
