Eligible Participation Certificate definition

Eligible Participation Certificate means a Participation Certificate (i) that represents a 100% beneficial interest in a pool of Eligible Loans that are Early Purchase Program Loans (together with all related Servicing Rights), (ii) that is sufficient for Seller to issue and Xxxxxx Xxx to guarantee the Related Security in the amount and with the terms described in the related Takeout Commitment, and (iii) as to which the Takeout Price set forth in the related Takeout Commitment is for an amount that is not less than the outstanding Repurchase Price for such Participation Certificate.
Eligible Participation Certificate means a Participation Certificate (i) that represents a 100% beneficial interest in a pool of Eligible Loans that are Early Purchase Program Loans (together with all related Servicing Rights), (ii) that is sufficient for Seller to issue and Xxxxxx Xxx to guarantee, or for Seller to sell and Xxxxxx Mae or Xxxxxxx Mac to issue, the Related Security in the amount and with the terms described in the related Takeout Commitment, and (iii) as to which the Takeout Price set forth in the related Takeout Commitment is for an amount that is not less than the outstanding Repurchase Price for such Participation Certificate.
Eligible Participation Certificate. A Participation Certificate that meets the eligibility criteria set forth in the Transactions Terms Letter.

More Definitions of Eligible Participation Certificate

Eligible Participation Certificate means a Participation ---------------------------------- Certificate which satisfies the eligibility characteristics set forth on Schedule 4 hereto on and as of the applicable Funding Date and which continues to satisfy such eligibility characteristics at all times thereafter while such Participation Certificate is included in the Borrowing Base.
Eligible Participation Certificate means a Participation Certificate that satisfies the applicable representations and warranties set forth on Schedule 2 with respect thereto at all times.

Related to Eligible Participation Certificate

  • Participation Certificate means the original participation certificate, if any, that was executed and delivered in connection with a Participation Interest.

  • Option Certificate means the certificate, substantially in the form set out as Schedule “A” hereto, evidencing an Option;

  • Participation Agreement means, with respect to each Indenture, the "Participation Agreement" referred to therein.

  • Effective date of participation means July 1, 1968, except with

  • Participation Interest means the Extension of Credit by a Lender by way of a purchase of a participation in Letters of Credit or LOC Obligations as provided in Section 2.2 or in any Loans as provided in Section 3.8.

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

  • Participating Financial Institution means a Financial Institution that has been approved by the Authority to enroll Qualified Loans in the Program and has agreed to all terms and conditions set forth in the Law and this Article and as may be required by any applicable federal law providing matching funding.

  • 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:

  • Completion Certificate means the certificate to be issued by the Engineer-in- Charge when the work/s have been completed to his satisfaction as per terms of the contract.

  • Exemption Certificate is defined in clause (e) of Section 4.6.

  • Occupation Certificate means any occupation certificate as referred to in s 6.4 of the Act in respect of the Development Consent;

  • registration certificate means the certificate of registration or other documents in lieu thereof establishing that the Goods supplied under the Contract are registered for use in the Purchaser’s country in accordance with the applicable law.