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 means a Participation acquired by the Borrower from the Equityholder on the Closing Date pursuant to the Master Participation Agreement.
Examples of Closing Date Participation Interest in a sentence
The Borrower acknowledges that all Collections received by it or its Affiliates with respect to the Collateral pledged hereunder are held and shall be held in trust for the benefit of the Administrative Agent, on behalf of the Secured Parties until deposited into the Collection Account in accordance with Section 6.16 or the Unfunded Exposure Account pursuant to Section 2.17, as applicable; provided that the foregoing shall not apply to any Closing Date Participation Interest until the elevation thereof.
More Definitions of Closing Date Participation Interest
Closing Date Participation Interest. With respect to each Collateral Obligation subject to transfer from the EU/UK Retention Holder to the Issuer pursuant to a 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 Participation Agreement. For the avoidance of doubt, each such Participation Interest shall, upon its respective Elevation Date, automatically terminate.
Closing Date Participation Interest has the meaning set forth in Section 2.01(c).
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. 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. Code: The U.S. Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder.
Closing Date Participation Interest. An undivided 100% participation interest granted by GCMF to the Originator in and to any Collateral Obligation which is assigned by the Originator to the Depositor and further assigned by the Depositor to the Issuer, pursuant to which the Issuer holds a Participation Interest as of the Closing Date; provided that, for the avoidance of doubt, upon the conversion of such Closing Date Participation Interest into a full assignment, such Collateral Obligation shall no longer be treated as a Closing Date Participation Interest for any purpose under the Transaction Documents.
Closing Date Participation Interest. An undivided 100% participation interest granted by OFS Funding to the OFS Parent, which participation interest has been assigned by OFS Parent to the Borrower, in and to each Loan identified on the schedule attached to the Closing Date Agreements and in which a Lien is granted therein by the Borrower to the Trustee. pursuant to this Agreement.