Participating Lenders Clause Samples
The Participating Lenders clause defines which lenders are involved in a particular loan or credit facility and outlines their rights and obligations in relation to the agreement. It typically specifies how decisions are made among the lenders, such as voting thresholds for amendments or waivers, and may detail the process for sharing payments or enforcing remedies. This clause ensures clarity and coordination among multiple lenders, preventing disputes and streamlining collective action in managing the loan.
Participating Lenders. Borrower agrees that Bank may, at its option, grant to one or more other financial institutions the right to participate in the loan advances described in this Agreement, provided however that Bank shall alone retain the right to amend, modify, waive, or enforce the provisions of this Agreement. If any Participating Lender shall at any time participate with Bank in making any loan advances hereunder, Borrower hereby grants to such Participating Lender (in addition to any other rights which such Participating Lender may have) both a continuing lien and security interest in any money, security and other personal property of Borrower which is in the possession of such Participating Lender, and an express, contractual right of setoff therein, for the benefit of all Participating Lender(s) and the Bank (such interests, rights and the proceeds thereof to be shared on a pro-rata basis by the Participating Lenders and Bank according to their respective outstanding balances). Bank may disclose to any Participating Lender, or any potential or prospective Participating Lender, any financial, credit or confidential information or documents of or concerning Borrower.
Participating Lenders. The Borrower understands that, although the Note names the Bank as the holder thereof, the Bank may sell a participation interest in the Loan to one or more other lenders, and 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 such Note and named in the other Loan Documents.
Participating Lenders. (1) CFS must be an "Eligible Lender" as defined in the Higher Education Act or must be acting through an eligible lender trustee that is an "Eligible Lender" as defined in the Higher Education Act. In order to deliver loans which are guaranteed by a Guarantor or the Secretary, CFO and/or CFSR I must previously have entered into an Agreement for Guarantee of Student Loans with the appropriate Guarantor and/or the Secretary;
(2) In order to participate as a lender an institution must enter into this Agreement which provides for the manner and terms of sale of Student Loans. CFS will be required to carry out such Agreement in accordance with procedures set forth in the Program Standards. Such procedures may be revised from time to time, but revisions will not affect the eligibility of any lender or the terms of sale of Student Loans as to any Agreement originated prior to and continuing at the time of revision by MOHELA. Two copies of the Agreement shall be signed and returned to MOHELA. MOHELA will execute both copies of the Agreement and return one executed copy to CFSR I.
(3) CFMS must submit a List of Officers of CFSR I (Schedule E) at the time this Agreement is executed.
Participating Lenders. The Borrowers and the Guarantors agree that although the Loan Documents name the Bank as the holder thereof, the Bank is authorized to sell participation interests in all or any portion of the Loan to other financial institutions (a “Participating Lender”) and the Borrowers and the Guarantors agree that, subject to the terms of the agreements of participation, each Participating Lender will be entitled to rely on the terms of the Loan Documents as if the Participating Lender had been named as an original party to the Loan Documents. Amended and Restated Loan Agreement
Participating Lenders. Borrower agrees that Lender may, at its option, grant to one or more of its affiliates or other financial institutions the right to participate in the loan advances described in this Agreement. If any participating lender shall at any time participate with Lender in making any loan advances hereunder, Borrower hereby grants to such participating lender (in addition to any other rights which such participating lender may have) both a continuing lien and security interest in any money, security and other personal property of Borrower which is in the possession of such participating lender, and an express, contractual right of setoff therein, for the benefit of all participating lender(s), the Lender and all other affiliates of Lender.
Participating Lenders. GRMH, the Borrowers and the Guarantor agree that although the Loan Documents name the Bank as the holder thereof, the Bank is authorized to sell participation interests in all or any portion of the Loan to other financial institutions (a “Participating Lender”) and GRMH, the Borrowers and the Guarantor agree that, subject to the terms of the agreements of participation, each Participating Lender will be entitled to rely on the terms of the Loan Documents as if the Participating Lender had been named as an original party to the Loan Documents.
Participating Lenders. On the terms and subject to the conditions set forth in this Agreement, the Company agrees to sell to the Participating Lenders, and each of the Participating Lenders agrees to purchase from the Company, Notes in the principal amounts equal to their respective First Loan Commitment Amounts, with a portion of such First Loan Commitment Amount to be funded at each of the First Closing and the Second Closing (as defined herein).
Participating Lenders. 1. Participating Lenders pay us a monthly subscription to host PaymentDriver® on their behalf and to receive leads through PaymentDriver®. Participating Lenders are not owned or operated by Dealertrack, and, except as described herein, are not otherwise affiliated with Dealertrack. Participating Lenders are not responsible for any of the content or information (or the accuracy thereof) displayed or transmitted to you via Dealertrack Sites or from third parties.
Participating Lenders. Debtor agrees that Lender may, at its option, grant to one or more other financial institutions the right to participate in the loan advances described in this Agreement; provided, however, that Lender shall alone retain the right to amend, modify, waive, or enforce the provisions of this Agreement. If any participating lender shall at any time participate with Lender in making any loan advances hereunder, Debtor hereby grants to such participating lender (in addition to any other rights which such participating lender may have) both a continuing lien and security interest in any money, security and other personal property of Debtor which is in the possession of such participating lender, and an express, contractual right of setoff therein, for the benefit of all participating lender(s) and Lender (such interests, rights and the proceeds thereof to be shared on a pro-rata basis by the participating lenders and Lender according to their respective outstanding balances). Subject to the provisions of Section 17 below, Lender may disclose to any participating lender, or any potential or prospective participating lender, any financial, credit or confidential information or documents of or concerning Debtor.
Participating Lenders. Lender may sell participations in any one or more of the Resort Advances, PROVIDED that the Person acquiring such participation is not a competitor of Bluegreen, as determined by Bluegreen in its reasonable discretion, and Lender continues to function as the effective administrative and collateral agent in respect of all such Resort Advances; all amounts payable by Bluegreen or any Eligible Bluegreen Subsidiary in respect of any Resort Advance shall be determined as if the Lender had not sold such participations. The Lender shall have the right to assign all or any portion of its rights in and to any Resort Loan to an Eligible Assignee (as such term is defined in the Warehouse Facility), PROVIDED that Lender and its affiliates agree to retain at all times not less than 30% of the Resort Advances under any such Resort Loan for its own account or an account of an affiliate of Lender and to otherwise function as the administrative and collateral agent in respect of all of such Resort Loans and PROVIDED that there shall be no more than 5 such Eligible Assignees at any one time. Any Eligible Assignee may assign its rights and delegate its obligations under any Resort Loan to any other Eligible Assignee, PROVIDED that such assigning Eligible Assignee shall first obtain the written consent of Lender. Except as provided in this Section 8.15, the Lender shall not, as between Bluegreen and the Lender, be relieved of any of its obligations hereunder as a result of any sale, assignment, transfer or negotiation of, or granting of participations in, all or any part of any Resort Loan. The Lender agrees to take and cause its affiliates to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or "secret" by Bluegreen or any Eligible Bluegreen Subsidiary and neither Lender nor any of its affiliates shall use any such information other than in connection with or in enforcement of this Agreement or any of the Resort Loan Documents