FRONTED PARTICIPATION definition

FRONTED PARTICIPATION means an additional participation in an LC assumed by one Bank instead of another Bank as a result of the application of Clause 7.4 (Fronting of LCs).
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Related to FRONTED PARTICIPATION

  • L/C 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);

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

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