Common use of Participation Amounts Clause in Contracts

Participation Amounts. The Lender shall cause the applicable Loan Documents to reflect, in addition to other normal and customary loan provisions: (i) at least the Lender Share (as defined on Appendix A), the MSF Share, the MSF Grace Period (as defined on Appendix A), the fees, and other essential terms of the Loan, including those which are described on Appendix A (the “Summary of Terms”), and (ii) provisions specifying the term of the Loan, payment due dates, amortization schedule, the respective principal and interest components and application of the scheduled payments on each of the Lender Share and MSF Share. This Participation Agreement constitutes a sale by the Lender to the MSF of the percentage of ownership interest in the Loan and related security and documents in the amount referenced as the MSF Share in the Summary of Terms. It is not, however, an extension of credit by the MSF to the Lender. The MSF shall be considered for all purposes the legal and equitable owner of the MSF Share, and all security and documents relating to the MSF Share of the Loan. Subject to the terms and conditions of this Participation Agreement, including the MSF’s receipt of the Loan Documents as provided herein, the MSF will disburse the MSF Share to the Lender on or about the closing of the Loan Documents. No portion of the Loan shall be disbursed by the Lender to the Borrower without the Borrower’s full execution of all of the Loan Documents.

Participation Amounts. The Lender shall cause the applicable Loan Documents to reflect, in addition to other normal and customary loan provisions: (i) at least the Lender Share (as defined on Appendix A), the MSF Share, the MSF Grace Period (as defined on Appendix A), the fees, and other essential terms of the Loan, including those which are described on Appendix A (the “Summary of Terms”), and (ii) provisions specifying the term of the Loan, payment due dates, amortization schedule, the respective principal and interest components and application of the scheduled payments on each of the Lender Share and MSF Share. This Participation Agreement constitutes a sale by the Lender to the MSF of the percentage of ownership interest in the Loan and related security and documents in the amount referenced as the MSF Share in the Summary of Terms. It is not, however, an extension of credit by the MSF to the Lender. The MSF shall be considered for all purposes the legal and equitable owner of the MSF Share, and all security and documents relating to the MSF Share of the Loan. Subject to the terms and conditions of this Participation Agreement, including the MSF’s receipt of the Loan Documents as provided herein, the The MSF will disburse the MSF Share to the Lender on or about the closing of the Loan Documents. No portion of the Loan shall be disbursed by the Lender to the Borrower without the Borrower’s full execution of all of the Loan Documents.