Purchased Participation definition

Purchased Participation means each Participation made, issued, conveyed, sold, contributed or otherwise transferred to the Borrower by the Seller pursuant to the Master Purchase Agreement; provided, that upon any Release thereof or purchase by the Seller or any other Person, such Participation shall cease to be a Purchased Participation.
Sample 1
Purchased Participation means an Allied Participation required to be purchased by the Seller or Allied REIT, or a BMI Participation required to be purchased by BMI REIT, pursuant to Section 3.03.
Sample 1
Purchased Participation means an obligation of a Person arising from an asset-based loan, advance, or other extension of credit to such Person (i) in which Borrower holds a participation or (ii) with respect to which Borrower is a co-lender but not an agent.
Sample 1

Examples of Purchased Participation in a sentence

  • If at any time the Borrower shall take a security interest in any property of an Obligor or any other person to secure payment and performance of a Purchased Participation, the Borrower shall promptly assign such security interest to the Administrative Agent, for the benefit of the Secured Parties.

  • Upon any sale or other transfer or disposition of any Collateral that is expressly permitted pursuant to this Agreement or any other Transaction Document and upon any Purchased Participation becoming subject to a Release pursuant to the express terms hereof, the Security Interest in such Purchased Participation and the related Purchased Assets shall be automatically released.

  • Unless otherwise expressly agreed by Agent, Borrower covenants that it will take all action necessary to maintain the effectiveness of such filings so long as Borrower has any commitment to extend credit under such Portfolio Loans or Purchased Participations or any sum remains owing under such Portfolio Loan or Purchased Participation.

  • For the avoidance of doubt, any Eligible Security that is issued with respect to the Eligible Loans underlying a Purchased Participation Certificate shall, on the Conversion Date, replace the Purchased Participation Certificate and automatically become subject to the Transaction to which the Purchased Participation Certificate was subject.

  • Neither the execution and delivery of this Agreement or any other Transaction Document to which the Borrower is party, nor the consummation of the transactions contemplated hereby or thereby, nor compliance with the terms and conditions hereof or thereof, will result in the creation or imposition of any Lien on any Purchased Participation or other Purchased Assets except for Permitted Liens.

  • Servicer will not institute legal proceedings for collection against a Portfolio Company in respect of a Portfolio Loan, or consent to such action in respect of a Purchased Participation unless Servicer has determined, in its commercially reasonable judgment, that to do so is reasonably expected to enhance the likelihood of maximizing the amount recoverable in respect of such Portfolio Loan or Purchased Participation.

  • For the avoidance of doubt, any Eligible Security that is issued with respect to the Eligible Loans underlying a Purchased Participation Certificate shall, on the related Conversion Date, replace the Purchased Participation Certificate and automatically become subject to the Transaction to which the Purchased Participation Certificate was subject.

  • The parties hereto each acknowledge that Servicer, as Servicer under this Agreement, possesses only such rights with respect to the enforcement of rights and remedies with respect to the Loan Portfolio as have been transferred to Borrower with respect to the related Portfolio Loan, Purchased Participation, or Portfolio Loan Collateral included therein.

  • The Borrower shall direct the Seller to cause the Servicer to liquidate any such securities, investments or other property of any type (other than cash or cash equivalents) received as proceeds of or otherwise in connection with any Purchased Participation or other Collateral as quickly as reasonably possible and deposit the net cash proceeds therefrom into the Collection Account.

  • For the avoidance of doubt, nothing in this Section 11.6 shall grant Trustee, Agent, or any Lender any right of access to review of any legal files, credit analysis, or other documents and information specific only to a particular Portfolio Loan or Purchased Participation except with respect to the Loan Portfolio.


More Definitions of Purchased Participation

Purchased Participation means each Participation made, issued, conveyed, sold, contributed or otherwise transferred to the Borrower by the Seller pursuant to the Master Purchase Agreement; provided, that upon any Release thereof or purchase by the Seller or any other Person, such Participation shall cease to be a Purchased Participation. “Qualified Hedge Counterparty” means any Hedge Counterparty that is (i) a Lender, an Affiliate of a Lender or (ii) any other entity, which on the date of entering into any Hedge Agreement is (A) an interest rate swap dealer with a short term rating of at least A-2 from S&P and P-2 from Xxxxx’x and a long term rating of at least A- from S&P and A3 from Xxxxx’x; provided that, if no interest rate swap dealers meet such ratings as of a particular date, the parties shall agree to reasonable alternative ratings thresholds, and (B) solely with respect to any interest rate swap, has agreed to an ISDA/CSA which includes provisions approved in writing by the Administrative Agent, in its reasonable discretion, including but not limited to (x) no termination event in the event of a failure of Borrower (or, if applicable, GreenSky or the Seller on Borrower’s behalf) to post required margin under the credit support annex and (y) requirements to notify the Administrative Agent in the event of a failure of Borrower (or, if
Sample 1
Purchased Participation means an undivided participation interest in a Note Receivable, purchased by any Borrower from a Person pursuant to a Participation Agreement, to be approved by Secured Party in its sole discretion.
Sample 1

Related to Purchased Participation

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

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

  • Direct Loan Participation means a Loan in respect of which, pursuant to a participation agreement, the Issuer is capable of creating, or procuring the creation of, a contractual right in favour of a notional protection seller that provides such notional seller with recourse to the participation seller for a specified share in any payments due under the relevant Loan which are received by such participation seller, any such agreement to be entered into between (i) such notional seller and (ii) either (A) the Issuer (to the extent the Issuer was then a lender or a member of the relevant lending syndicate), or (B) a Qualifying Participation Seller (if any) (to the extent such Qualifying Participation Seller is then a lender or a member of the relevant lending syndicate);

  • 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:

  • 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.

  • Unit Participation means the ratio of the surface acreage of a specific tract in the unit area to the total surface acreage of the unit area as that total surface acreage is specified in paragraph one of the Plan for Unit Operations of this order.

  • Participations shall have the meaning set forth in Section 13.1 hereof.

  • Participation Facility means any facility in which the applicable party (or a Subsidiary of it) participates in the management (including all property held as trustee or in any other fiduciary capacity) and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

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

  • Participation means an interest in a Loan that is acquired indirectly by way of a participation from a selling institution.

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

  • Material Participation means involvement in the development and operation of the project on a basis which is regular, continuous, and substantial as defined in Code Section 42 and 469(h) of the regulations promulgated hereunder.

  • Participation Period has the meaning set forth in Section 4.2 hereof.

  • Participation Maximum shall have the meaning ascribed to such term in Section 4.12(a).

  • 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.

  • Applicable Participation Agreement Has the meaning specified in Section 5.01(b) of this Trust Supplement.

  • 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 Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

  • Participation Factor means a percentage to be determined in the reasonable discretion of the Issuer (billiges Ermessen) (§ 315 BGB) on the Strike Date on the basis of the volatility of the Underlying and the market conditions prevailing on such date and will be published in accordance with § 14 hereof. The indication for the Participation Factor based on the market conditions as of 15 November 2017 is 100% (in any case, it will not be below 80%).

  • 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.

  • Participation Rate means the rate of interest payable on the Loan to Participant by Administrative Agent-Servicer.

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

  • Identified Participating Lenders has the meaning set forth in Section 2.05(a)(v)(C)(3).

  • Participation Agreements as defined in this Trust Supplement are the "Note Purchase Agreements" referred to in the Basic Agreement.

  • Participation Quota means in relation to a Section, the decimal fraction allocated thereto in the Sectional Plan and which is calculated in terms of Section 32(1) of the Act.

  • Letter of Credit Participation shall have the meaning provided in Section 3.3(a).