Closing Date Participation Interest. The participation interests acquired by the Issuer pursuant to the Loan Sale Agreements on the Closing Date.
Closing Date Participation Interest means an undivided 100% participation interest granted by 405 II Loan Funding LLC to the Borrower in and to each Collateral Loan identified on the schedule attached to the Closing Date Participation Agreement and in which a Lien is granted therein by the Borrower to the Collateral Agent pursuant to this Agreement.
Closing Date Participation Interest. With respect to each Collateral Obligation subject to transfer from the EU/UK Retention Holder to the Issuer pursuant to the Master Transfer Agreement and in respect of which title to the underlying loan obligation will not be owned by the Issuer as of the Closing Date, an undivided 100% Participation Interest granted by the EU/UK Retention Holder to the Issuer pursuant to the Master Transfer Agreement. For the avoidance of doubt, each such Participation Interest shall, upon its respective Elevation Date, automatically terminate.
Examples of Closing Date Participation Interest in a sentence
For the avoidance of doubt, the failure to elevate any Closing Date Participation Interest will not result or be deemed to result in a Default or Event of Default under this Indenture or any other Transaction Document.
The Buyer shall be responsible for any expenses of administering each Closing Date Participation Interest prior to its Elevation.
With respect to any Defaulted Obligation or Closing Date Participation Interest, the lesser of (i) the S&P Recovery Amount of such Collateral Obligation, as of the relevant Measurement Date and (ii) the Market Value of such Collateral Obligation, as of the relevant Measurement Date.
If any such Closing Date Participation Interest is not elevated to an assignment on or before the 120th day following the Closing Date, such Closing Date Participation Interest shall be deemed to be a Participation Interest for all purposes hereunder until otherwise assigned.
The entity obligated to make payments to the Issuer under the terms of a Participation Interest (other than a Closing Date Participation Interest).
More Definitions of Closing Date Participation Interest
Closing Date Participation Interest has the meaning set forth in Section 2.01(c).
Closing Date Participation Interest means a Participation Interest in a Closing Date Collateral Asset purchased by the Borrower under the Master Participation Agreement.
Closing Date Participation Interest means a participation interest in a loan that satisfies each of the following criteria: (a) such participation is included in the Collateral within ten (10) Business Days of the Closing Date, (b) such participation would constitute a Loan Asset were it acquired directly, (c) the seller of such participation is a lender on the underlying loan, (d) the aggregate participation in the loan granted by such participation seller to all participants (including the Borrower) does not exceed the principal amount or commitment with respect to which such participation seller is a lender under such loan, (e) such participation does not grant, in the aggregate, to the participant in such participation a greater interest than the selling participation seller holds in the loan or commitment that is the subject of the participation, (f) the entire purchase price for such participation is paid in full (without the benefit of financing from the participation seller, other than any capital contribution deemed made in connection therewith) at the time of the participant’s acquisition, (g) the participation provides the participant with all of the economic benefit and risk of the whole or part of the loan or commitment that is the subject of the loan participation, (h) such participation is documented under the Purchase and Sale Agreement, (i) such participation is not a sub-participation interest in any loan and (j) such participation shall be elevated to a full assignment within sixty (60) calendar days (or such longer period of time as may be agreed to by the Administrative Agent in its sole discretion).
Closing Date Participation Interest. Each Collateral Obligation held by the Issuer in the form of a Participation Interest granted pursuant to the Master Transfer Agreement or the Master Participation Agreement. For the avoidance of doubt, each such Participation Interest shall, upon its respective Elevation Date, automatically terminate.
Closing Date Participation Interest. A Participation Interest granted by the Equityholder to the Borrower in and to each Loan identified on Schedule IV hereto and on which a Lien is granted therein by a Borrower to the Administrative Agent pursuant to this Agreement. 11 USActive 60440347.7 “Code”: The Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated or issued thereunder. “Collateral”: All of the Borrower’s right, title and interest in, to and under (in each case, whether now owned or existing, or hereafter acquired or arising) all accounts (as defined in the UCC), General Intangibles, Instruments and Investment Property and any and all other property of any type or nature owned by it, including but not limited to: (a) all Loans, Permitted Investments and Equity Securities, all payments thereon or with respect thereto and all contracts to purchase, commitment letters, confirmations and due bills relating to any Loans, Permitted Investments or Equity Securities; (b) the Accounts and all Cash and Financial Assets credited thereto and all income from the investment of funds therein; (c) all Transaction Documents to which the Borrower is a party; (d) all funds; and (e) all accounts, accessions, profits, income benefits, proceeds, substitutions and replacements, whether voluntary or involuntary, of and to any of the property of the Borrower described in the preceding clauses. “Collateral Account”: A Securities Account created and maintained on the books and records of the Collateral Custodian entitled “Collateral Account” in the name of the Borrower and subject to the Lien of the Administrative Agent for the benefit of the Secured Parties. “Collateral Custodian”: Western Alliance Trust Company, N.A., not in its individual capacity, but solely as Collateral Custodian, its successor in interest pursuant to Section 7.3 or such Person as shall have been appointed Collateral Custodian pursuant to Section 7.5. “Collateral Custodian Fee”: The fees, expenses and indemnities set forth as such in the Collateral Custodian Fee Letter and as provided for in this Agreement or any other Transaction Document. “Collateral Custodian Fee Letter”: The fee schedule provided by the Collateral Custodian and acknowledged by the Collateral Manager. “Collateral Custodian Termination Notice”: The meaning specified in Section 7.5. “Collateral Manager”: The meaning specified in the Preamble. “Collateral Manager Default”: The occurrence of any one or more of the following: (a) the Col...
Closing Date Participation Interest. A Participation Interest granted by the Fund to the Borrower in and to each Loan identified on Schedule VI hereto and in which a Lien is granted therein by the Borrower to the Administrative Agent pursuant to this Agreement.
Closing Date Participation Interest. A Participation Interest granted or sold by the Sole Shareholder to the Issuer on the Closing Date pursuant to the Master Participation and Assignment Agreement; provided that each such Participation Interest shall cease to constitute a "Closing Date Participation Interest" for the purposes of this Indenture or any other Transaction Document on the earlier of (a) its Elevation Date, and (b) the 45th day following the Closing Date.