Participation Interest Account definition

Participation Interest Account means an account to be designated in writing from time to time by the Initial Lender to the Borrower.
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Participation Interest Account means the “Sub-Participation Interest Account” held by the Participation Agent on behalf and for the benefit of the Pass-Through Trust pursuant to Article IV of the Participation Agreement.
Sample 1
Participation Interest Account means the account established by the Lender pursuant to Section 2 hereof.
Sample 1

Examples of Participation Interest Account in a sentence

  • Upon any Default of Borrower under the Closing Documents that causes the Department’s Participation Interest to be subordinated pursuant to Section 9, any funds in the Participation Interest Account shall be immediately returned to the Department.

  • If the Lender receives, collects or applies only a partial interest payment with respect to a Revolving Line of Credit, the Lender will deposit into the Participation Interest Account an amount equal to the amount due the Department under the preceding sentence times a fraction, the numerator of which is the amount then received, collected or applied by the Lender from the Borrower and the denominator of which is the total amount then due by the Borrower to the Lender.

  • If the Lender receives, collects or applies a full interest payment with respect to a Revolving Line of Credit, the Lender will deposit into the Participation Interest Account an amount equal to the Department's pro rata share of such payment at a rate equal to the Department Rate.

  • Each Participation Interest Account shall accrue interest at the rate of interest set forth in the Acceptance Letter.

  • Arbitration shall be conducted in the City of Stamford, Connecticut in accordance with the rules of the American Arbitration Association then in effect and shall be conducted by a panel of three (3) arbitrators.

  • Upon termination of a Revolving Line of Credit, either by its terms, the Borrower’s election upon payment in full, or the Lender for cause, the Lender shall remit all funds in the corresponding Participation Interest Account to the Department in accordance with Section 6.1.

  • Upon the Department's approval to purchase its Participation in the Revolving Line of Credit, it shall deposit into the Participation Interest Account funds in an amount equal to its full Participation Amount.

  • If the Lender receives, collects or applies a principal payment or prepayment with respect to a Revolving Line of Credit that is not terminated, the Lender will deposit into the Participation Interest Account an amount equal to the Department's pro rata share of such amount.

  • If the Lender receives, collects or applies a principal payment with respect to a terminated, terminating or matured Revolving Line of Credit, the Lender will deposit into the Participation Interest Account the Department's pro rata share of such amount.

  • The Lender shall establish in the name of the Department an interest bearing account for each Revolving Line of Credit approved by the Department (the "Participation Interest Account").


More Definitions of Participation Interest Account

Participation Interest Account. The trust account established by the Participation Agent pursuant to Section 4.01(a) of the Participation Agreement.
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Related to Participation Interest Account

  • 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.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

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

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

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

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

  • Swing Line Participation Amount as defined in Section 2.7.

  • Participation Amount as defined in Section 3.4(b).

  • Capitalized Interest Account The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Participation Fee means the amount payable by the Participant to the Council for the right to participate in the Hong Kong Pavilion at the Exhibition, as specified in Section I of the Application Form.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

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

  • Funding Percentage means with respect to any Payment Date, the percentage derived from the fraction the numerator of which is the Pre-Funded Amount and the denominator of which is the sum of the aggregate Principal Balance of Receivables transferred to the Trust and the Pre-Funded Amount, in each case, as of the last day of the related Collection Period.

  • Participation Percentages means the percentage of the total actual project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the percentage of the total actual project costs that will be contributed by the Recipient. Both of the percentages are identified in Appendix D. In the event that the total actual project costs exceed the estimated project costs identified in Appendix D, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Participation Percentage means the rounded percentage of the total actual Project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the rounded percentage of the total actual Project costs that will be contributed by the Recipient. Both percentages are identified in Appendix B. If the total actual Project costs exceed the estimated Project costs identified in Appendix B, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Principal Accumulation Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Accumulation Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • 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.

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

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Spread Account Percentage means, (i) 0% if the Quarterly Excess Spread Percentage on such Payment Date is greater than or equal to 5.00%, (ii) 2.00% if the Quarterly Excess Spread Percentage on such Payment Date is less than 5.00% and greater than or equal to 4.50%, (iii) 2.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 4.50% and greater than or equal to 4.00%, (iv) 3.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 4.00% and greater than or equal to 3.50%, (v) 4.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 3.50% and greater than or equal to 3.00%, (vi) 5.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 3.00% and greater than or equal to 2.50%, (vii) 6.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 2.50% and greater than or equal to 1.50%, (viii) 7.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 1.50% and greater than or equal to 0.50% and (ix) 8.50% if the Quarterly Excess Spread Percentage on such Payment Date is less than 0.50%.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Credit Account is modified to read “Grant Account”.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).