Credit Participation definition

Credit Participation means, in relation to a Lender, Bilateral Bank or Hedging Bank, the aggregate of:
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Credit Participation means, in relation to a Creditor, all amounts actually and contingently accrued to it under the HY Notes and the amount of its Commitment under the RCF, if any.
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Credit Participation means, in relation to each Secured Party and at any time, the aggregate of:
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Examples of Credit Participation in a sentence

  • No remedy herein conferred upon any Bank or the Agent or the holder of any Note or purchaser of any Letter of Credit Participation is intended to be exclusive of any other remedy and each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of law.

  • The Administrative Agent may deem and treat the payee of any Note or the purchaser of any Letter of Credit Participation as the absolute owner or purchaser thereof for all purposes hereof until it shall have been furnished in writing with a different name by such payee or by a subsequent holder, assignee or transferee.

  • The Agent may deem and treat the payee of any Note or the purchaser of any Letter of Credit Participation as the absolute owner or purchaser thereof for all purposes hereof until it shall have been furnished in writing with a different name by such payee or by a subsequent holder, assignee or transferee.

  • No remedy herein conferred upon any Lender or the Administrative Agent or the holder of any Note or purchaser of any Letter of Credit Participation is intended to be exclusive of any other remedy and each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of law.

  • The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Credit Agreement in accordance with a request of the Majority Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon the Banks and all future holders of the Revolving Credit Notes or of a Letter of Credit Participation.

  • The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Majority Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon the Banks and all future holders of the Revolving Credit Notes or of a Letter of Credit Participation.

  • No remedy herein conferred upon any Bank or the Agent or the holder of any Revolving Credit Note or purchaser of any Letter of Credit Participation is intended to be exclusive of any other remedy and each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of law.

  • The Agent may deem and treat the payee of any Revolving Credit Note or the purchaser of any Letter of Credit Participation as the absolute owner or purchaser thereof for all purposes hereof until it shall have been furnished in writing with a different name by such payee or by a subsequent holder, assignee or transferee.

  • Each payment of the Facility Fee and the Letter of Credit Participation Fee payable to the Lenders shall be promptly transmitted by the Administrative Agent in like funds as received to each Lender pro rata according to such Lender’s Commitment Amount or, if the Commitments shall have terminated or been terminated, according to the outstanding principal amount of such Lender’s Revolving Credit Loans.

  • No remedy herein conferred upon the Lenders or the Administrative Agent or the holder of any Note or purchaser of any Letter of Credit Participation is intended to be exclusive of any other remedy and each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or under any of the other Loan Documents or now or hereafter existing at law or in equity or by statute or any other provision of law.


More Definitions of Credit Participation

Credit Participation means Hedge Credit Participation, Independent Security Credit Participation, Pari Passu Credit Participation, Second Lien Credit Participation, Senior Subordinated Credit Participation or Super Senior Credit Participation as the context requires.
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Credit Participation means, in relation to the First Creditor, its aggregate commitments under the Zenith Facility Agreement and in relation to each Second Creditor, it aggregate commitments under the PXF Facility Agreement. "Creditor" means a First Creditor or a Second Creditor. "Debt" means the First Debt or the Second Debt. "Distributed Amounts" has the meaning given to that term in Clause 6.2.5 (Payments prior to enforcement). "Export Proceeds" means all proceeds paid or payable under the Sales Contract. "Exclusive First Security Agreement" means the security agreement listed in Schedule 2 (Security Agreements) as the exclusive first security agreement. "Exclusive Second Security Agreement" means the security agreement listed in Schedule 2 (Security Agreements) as the exclusive second security agreement. "FCPA" has the meaning given to that term in Clause 9.1.1 (Anti-corruption law, anti-bribery law representation). "Financial Quarter" means the period commencing on the day after one Quarter Date and ending on the next Quarter Date. "First Creditor" means Zenith Bank or its successor who shall accede to this Deed as a First Creditor. "First Debt" means all Liabilities payable or owing by the Company to a First Creditor secured under the First Security Agreements. "First Security" means any Security Interest described in the First Security Agreements, to the extent it relates to the Export Proceeds. "First Security Agreements" means the security agreements listed in Schedule 2 (Security Agreements) as the first security agreements. "Holding Company" means, in relation to a person, any other person in respect of which it is a Subsidiary. "Liability" means any present or future liability (actual or contingent) whether or not matured or liquidated, together with:
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Credit Participation means, on any date in relation to a Beneficiary Representative or Unrepresented Beneficiary, the NZD Equivalent (as determined by the Security Trustee) of the aggregate principal amount of its Outstandings (or, in the case of a Beneficiary Representative, the Outstandings of the Beneficiaries that it represents) on that date or, in the case of the Facility Agent as the Beneficiary Representative for the Lenders and the relevant decision relates to a waiver or consent request and no Event of Default is subsisting, the NZD Equivalent (as determined by the Security Trustee) of the aggregate amount of the Commitments of all Lenders under the Transaction Documents on that date as certified by the Facility Agent in a written statement provided to the Security Trustee in accordance with clause 17 (any such certificate to be conclusive for the purposes of this Deed in the absence of manifest error and the Security Trustee shall be entitled to rely on any such certificate, and shall not be liable or responsible to the Beneficiaries or any other person for so relying). For the purposes of this definition, the Outstandings of a Lender pertaining to Ancillary Liabilities shall only be counted for the purposes of decisions as to matters relating to the exercise (including, without limitation, whether or not to exercise and the method of exercise) of any Security Rights and shall be as certified to the Security Trustee by the Lender (or its Beneficiary Representative) in accordance with clause 17 provided that if the Ancillary Liabilities are negative, they shall be deemed to be zero;
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Credit Participation means, in relation to the First Creditor, its aggregate commitments under the Zenith Facility Agreement and in relation to each Second Creditor, it aggregate commitments under the PXF Facility Agreement.
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Credit Participation means the Super Senior Credit Participations, Pari Passu Credit Participations, the Second Lien Credit Participations and the Unsecured Credit Participations.
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Related to Credit Participation

  • Letter of Credit Participation shall have the meaning provided in Section 3.3(a).

  • Direct Loan Participation means a Loan in respect of which, pursuant to a participation agreement, the Issuer is capable of creating, or procuring the creation of, a contractual right in favour of a notional protection seller that provides such notional seller with recourse to the participation seller for a specified share in any payments due under the relevant Loan which are received by such participation seller, any such agreement to be entered into between (i) such notional seller and (ii) either (A) the Issuer (to the extent the Issuer was then a lender or a member of the relevant lending syndicate), or (B) a Qualifying Participation Seller (if any) (to the extent such Qualifying Participation Seller is then a lender or a member of the relevant lending syndicate);

  • Unit Participation means the ratio of the surface acreage of a specific tract in the unit area to the total surface acreage of the unit area as that total surface acreage is specified in paragraph one of the Plan for Unit Operations of this order.

  • L/C Participation shall have the meaning provided in Section 3.3(a).

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

  • Participation Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

  • Participations shall have the meaning set forth in Section 13.1 hereof.

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrowers on the assumption that each Lender has made its portion of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.02(d) of the Credit Agreement and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrowers or made available to the Administrative Agent by any such Lender, (b) with respect to any Swingline Lender, the aggregate amount, if any, of participations in respect of any outstanding Swingline Loan that shall not have been funded by the Revolving Credit Lenders in accordance with Section 2.22(e) of the Credit Agreement and (c) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C Disbursement that shall not have been funded by the Revolving Credit Lenders in accordance with Sections 2.23(d) and 2.02(f) of the Credit Agreement.

  • Active participation means an ongoing process of good faith negotiation between the state licensing agency and the Indiana elected committee of licensed managers to achieve joint planning of:

  • Participation Interest means the purchase by a Lender of a participation interest in Letters of Credit as provided in Section 2.2 and in Swingline Loans as provided in Section 2.3.

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

  • Material Participation means involvement in the development and operation of the project on a basis which is regular, continuous, and substantial as defined in Code Section 42 and 469(h) of the regulations promulgated hereunder.

  • Participation Facility means any facility in which the applicable party (or a Subsidiary of it) participates in the management (including all property held as trustee or in any other fiduciary capacity) and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Swing Line Loan Participation Certificate a certificate in substantially the form of Exhibit I.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • LC means Letter of Credit

  • Participation Date means the date the individual becomes a qualified participant in Tier 2 as determined under section 701a(1)(b).

  • Committed Lender means, as to any Lender Group, each of the financial institutions listed on Schedule I as a “Committed Lender” for such Lender Group, together with its respective successors and permitted assigns.

  • Swingline Participation Amount as defined in Section 2.7(c).

  • L/C Participants means, with respect to any Letter of Credit, the collective reference to all the Revolving Credit Lenders other than the applicable Issuing Lender.

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • LC Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.