Participation Pool definition
Examples of Participation Pool in a sentence
As of the Effective Date, the Assignees shall succeed to all of the rights and assume all of the obligations of the Assignors under the Loan Documents for all of the Loans in the Participation Pool, but only to the extent of the Assignees' Participation Interest.
Each of the Assignees agrees that it will perform, in accordance with the terms of the Loan Documents for all of the Loans in the Participation Pool, all of the obligations that are required to be performed by it as a lender thereunder.
After giving effect to the assignment and assumption set forth herein, on the Effective Date, the respective Participation Interests of the Assignors and the Assignees in all of the Loans in the Participation Pool shall be as set forth on Exhibit "B" hereto.
Any interest, fees and other payments payable to the Assignors with respect to the Loans in the Participation Pool that have accrued up to the Effective Date with respect to the Assignees' Participation Interest shall be for the account of the respective Assignors.
Mortgage shall hold, for the benefit of the Assignees, in its possession at its principal office, executed originals of all of the Loan Documents for each Loan in the Participation Pool, and shall deliver conformed copies of each thereof to ▇▇▇▇▇ Financial for the benefit of the Assignees.
The effectiveness of this Agreement is conditioned upon (a) the execution and delivery of this Agreement by the Lead Lenders and the Lenders, (b) the execution, delivery and effectiveness of the Loan Assignments and the Loan Documents by the Lead Lenders, and (c) the payment of the Participation Interest by Lenders to the Lead Lenders, which payment shall be made by Lenders to Lead Lenders as Loans are funded in the Participation Pool.
It is the intent of the parties hereto that, as of the Effective Date, the Assignors shall relinquish all of their rights and be released from all of their obligations under the Loan Documents for all of the Loans in the Participation Pool to the extent that such rights have been assigned to, and such obligations have been assumed by, the Assignees pursuant to the terms hereof.
Each of the Assignors agrees to provide to ▇▇▇▇▇ Financial, for the benefit of the Assignees, upon reasonable request but in no event more frequently than once a month, a statement of all payments received in respect of the Loans in the Participation Pool.
Artist Profit Participation Pool The 60% of the Net Profits and 18% of Sponsorship Proceeds.
The Writer’s Share is 22.5% of the Artist Profit Participation Pool.