Sub-participant Register Sample Clauses
The Sub-participant Register clause establishes a formal record of all sub-participants involved in a financial transaction or agreement. This register typically lists the names, contact details, and participation interests of each sub-participant, and is maintained by the primary lender or agent. By keeping an up-to-date and accurate register, the clause ensures transparency regarding who holds interests in the underlying obligations, which helps prevent disputes and facilitates communication among parties.
Sub-participant Register. In the case of a sub-participation (or any other agreement or arrangement having an economic effect substantially similar to a sub-participation) (in each case, other than any non-voting derivatives (which are not participations) which would otherwise be caught by the definition of “sub-participation”), the person granting the sub-participation (or similar right) shall, acting solely for these purposes as non-fiduciary agent for the Borrower, maintain a register (a “Sub-Participant Register”) on which it enters the name and address of each sub-participant (or person holding the similar right) and the Commitment and obligations (including principal and stated interest) in which each sub-participant (or other person) has an interest or obligation.
Sub-participant Register. (a) In the case of a sub-participation (or any other agreement or arrangement having an economic effect substantially similar to a sub-participation) (in each case, other than any non-voting derivatives (which are not participations) which would otherwise be caught by the definition of “sub-participation”), the person granting the subparticipation (or similar right) shall, acting solely for these purposes as non-fiduciary agent for the Borrower, maintain a register (a “Sub-Participant Register”) on which it enters the name and address of each sub-participant (or person holding the similar right) and the Commitment and obligations (including principal and stated interest) in which each subparticipant (or other person) has an interest or obligation.
(b) Notwithstanding anything to the contrary hereunder, including without limitation Clause 34 (Calculations and Certificates), the entries in the Sub-Participant Register shall be conclusive absent manifest error, and such person maintaining the Sub-Participant Register shall treat each person whose name is recorded in the Sub-Participant Register as the owner of such subparticipation (or similar right) for all purposes of a Finance Document notwithstanding any notice to the contrary.
(c) Without prejudice to the other provisions of this Clause 27, no Lender shall have any obligation to disclose all or any portion of the Sub-Participant Register to any person (including the identity of any sub-participant or any information relating to a sub-participant’s interest in any Loans, Commitments or other obligations under any Finance Documents) except to the extent that such disclosure to a tax authority is necessary to establish that such Loan, Commitment or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations or is otherwise required thereunder.
Sub-participant Register. Each Lender that sells a sub-participation in a Loan or other obligation under a Finance Document 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 sub-participant and the principal amounts (and stated interest) of each sub-participant's interest in such Loans or other obligations (for the purposes of this provision, the "Participant Register"); provided that no such Lender shall have any obligation to disclose all or any portion of a Participant Register (including the identity of any sub-participant or any information relating to a sub-participant's interest in any Commitments, Loans or other obligations under any Finance Document) to any person, except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form within the meaning of Section 5f.103-1(c) and Proposed Section 1.163-5(b) of the US Treasury Regulations (or, in each case, any amended or successor version). 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 sub-participation for all purposes of the Finance Documents notwithstanding any notice to the contrary.
Sub-participant Register. Each Lender that sells or grants a sub-participation in the Loan shall, acting for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each sub-participant and the principal amount of each sub-participant’s interest in the Loan from time to time (the “Sub-participant Register”), provided that no Lender shall have any obligation to disclose any portion of the Sub-participant Register to any person except to the extent that such disclosure is necessary to establish that such sub-participation is in registered form under section 5f.103-1(c) of the US Treasury Regulations, in which case it shall be disclosed within 10 Business Days of a reasonable request to do so. The entries in the Sub-participant Register shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the Sub-participant Register as the owner of its sub-participation for all purposes of this Agreement notwithstanding any notice to the contrary.