Initial Participation definition

Initial Participation means, in respect of any Qualifying Insurer, the amount, expressed as a percentage, resulting from the initial calculation made in accordance with paragraph 3.3 of Schedule 2

Initial Participation means (a) in respect of each of the Savings Mortgage Receivables, on the Transfer Date, or, if applicable, (b) in respect of a switch from any type of Mortgage Loan into an Insurance Savings Mortgage Loan, the immediately succeeding CBC Payment Date following such switch, (i) an amount equal to the sum of the Savings Premia received by the relevant Savings Participant with accrued interest up to the first day of the calendar month in which the relevant Transfer Date falls; or (ii) in respect of Switch Mortgage Receivables with a Savings Alternative, amounts switched under the relevant Savings Investment Insurance Policies from investments into a deposit into the Savings Alternative during the month immediately preceding such CBC Payment Date;

Initial Participation. A participation interest, granted on or about the Closing Date by the Originator in all or a portion of an Eligible Loan held by the Originator as of such date, which shall be converted into a full assignment within 60 days following the Closing Date.

Examples of Initial Participation in a sentence

• The notice will include that the deadline for becoming an Initial Participating Subdivision is the Initial Participation Date.

• A Subdivision qualifies as an Initial Participating Subdivision if it meets the applicable requirements for becoming a Participating Subdivision set forth in Section VII.B or Section VII.C by the Initial Participation Date.

• Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall then be appended hereto as Exhibit L.

• Except for trials begun before the Initial Participation Date, a Litigating Subdivision or a Later Litigating Subdivision may not become a Participating Subdivision after the completion of opening statements in a trial of a legal action it brought that includes a Released Claim against a Released Entity.

• Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee shall agree to selection and removal processes for and the identity of the Settlement Fund Administrator, and a detailed description of the Settlement Fund Administrator’s duties and responsibilities, including a detailed mechanism for paying the Settlement Fund Administrator’s fees and costs, all of which shall be appended to the Agreement as Exhibit L.

• A Special District qualifies as an Initial Participating Special District if it meets the applicable requirements for becoming a Participating Special District by the Initial Participation Date.

• Prior to the Initial Participation Date, Xxxxxxx and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall be appended hereto as Exhibit L.

• A Special District that is not an Initial Participating Special District may become a Later Participating Special District by meeting the applicable requirements for becoming a Participating Special District after the Initial Participation Date and agreeing to be subject to the terms of any agreement reached by the applicable Settling State with Initial Participating Special Districts.

• A Subdivision qualifies as an Initial Participating Subdivision if it meets the applicable requirements for becoming a Participating Subdivision set forth in subsections VII.B or VII.C by the Initial Participation Date.

• This Exhibit L will be appended to the Agreement prior to the Initial Participation Date pursuant to subsection I.66.

More Definitions of Initial Participation

Initial Participation means each of the Initial Bank Savings Participation and the Initial Insurance Savings Participation.

Initial Participation means the amount (expressed as a percentage) of participation in this option identified for that Second Secured Lender in Schedule 1. ADDITIONAL PARTICIPATION means the amount (expressed as a percentage) of participation in this option transferred to that Second Secured Lender in accordance with this Agreement. - 13 - <Page> TRANSFERRED PARTICIPATION means the amount (expressed as a percentage) of participation in this option transferred by that Second Secured Lender to another person in accordance with this Agreement. 8.8 After a Second Secured Lender has given a Trigger Notice to the Option Holder (and the Share Option has been exercised as a result) that Second Secured Lender may no longer transfer its participation in this option to the extent so utilised. 8.9 Neither the Option Holder nor any Second Secured Lender shall be liable to any other Second Secured Lender for any cost, loss or liability suffered by that other Second Secured Lender as a result of giving any Trigger Notice or of any exercise of the Share Option, in each case, in accordance with this Agreement. 9

Initial Participation means the amount (expressed as a percentage) of participation in this option identified for that Second Secured Lender in Schedule 1.