Participation Interests definition

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

Participation Interests means the limited liability company, general or limited partnership interests in Owner, any other option entity or any Contributing Entity, as applicable and, to the extent a limited liability company, general or limited partnership interests are held by an agent for the benefit of participants, the beneficial ownership of such interests.

Participation Interests means participations representing undivided interests in a pool of assets primarily consisting of receivables in revolving credit card accounts or other revolving credit accounts owned by an Account Owner or any Affiliate thereof and collections thereon.

Examples of Participation Interests in a sentence

• The obligations of the Lenders hereunder to make Revolving Loans and to fund or purchase Participation Interests are several and not joint.

• Disclosure on Participation Interests has been removed from the prospectuses and replaced with the following.

• Upon any change in the Revolving Commitments pursuant to Section 10.06, there shall be an automatic adjustment to the Participation Interests in all outstanding Letters of Credit and all L/C Obligations to reflect the adjusted Revolving Commitments of the assigning and assignee Lenders or of all Lenders having Revolving Commitments, as the case may be.

• With respect to the purchase and sale of Participation Interests, Transferor and Transferee shall occupy the relationship of buyer and seller of a property interest.

• The sale of the Participation Interests by Transferor to Transferee pursuant to this Agreement shall be and is without recourse of any nature.

More Definitions of Participation Interests

Participation Interests means the participation interest of each Bank in (a) any Swing Line Loan, as provided in Section 2.7(b), (b) Letters of Credit, as provided in Section 2.8(a) and (b), and (c) Loans of other Banks, as provided in Section 4.5.

Participation Interests means, with respect to an Underlying Mortgage Loan, all of the economic, beneficial and equitable ownership interests (together with the related Servicing Rights) therein pursuant to the Participation Agreement.

Participation Interests means undivided pro-rata participation interests in Non-Portfolio Loans.

Participation Interests means Revolving Participation Interests or Credit-Linked Participations, individually or collectively as the context may require.

Participation Interests is defined in SECTION 2.8(b).

Participation Interests means a participation interest purchased by a Revolving Lender in LOC Obligations as provided in Section 2.2(c) and in Swingline Loans as provided in Section 2.3.

Participation Interests means the participation interests held at the date of this Agreement by the Sellers, which together constitute a 10% (ten per cent) participation interest in the charter capital of the Company;