Selling Institution definition

Selling Institution. The entity obligated to make payments to the Issuer under the terms of a Participation Interest.

Selling Institution means an entity obligated to make payments to the Borrower under the terms of a Participation Interest.

Selling Institution means an institution which satisfies the applicable Rating Requirement from whom a Participation is granted.

Examples of Selling Institution in a sentence

• As a result, the Issuer will assume the credit risk of both the borrower and the Selling Institution selling the Participation.

• The purchaser of an Assignment also typically succeeds to and becomes entitled to the benefit of any other rights of the Selling Institution in respect of the loan agreement including the right to the benefit of any security granted in respect of the loan interest transferred.

• The Issuer would, in such case, only be entitled to receive payments of principal and interest to the extent that the Selling Institution has received such payments from the borrower.

• As a result, the Issuer will generally not bear the credit risk of the Selling Institution and the insolvency of the Selling Institution should have no effect on the ability of the Issuer to continue to receive payment of principal or interest from the borrower.

• A Selling Institution voting in connection with a potential waiver of a restrictive covenant may have interests which are different from those of the Issuer and such Selling Institutions may not be required to consider the interest of the Issuer in connection with the exercise of its votes.

More Definitions of Selling Institution

Selling Institution means in respect of any Loan Asset which constitutes a participation interest, the Person which has granted or sold to the Borrower a participation interest in the loan or other extension of credit which is the subject of such Loan Asset.

Selling Institution means an institution from which a Participation is acquired.

Selling Institution means (other than in the case of an Assigned Participation Interest) an entity (including, but not limited to, the Transferor), which entity is obligated to make payments to the Borrower under the terms of a Participation Interest and which entity has a long-term debt rating of at least “A” (or the equivalent).

Selling Institution has the meaning given to such term in the Reference Obligation Indenture.

Selling Institution means the entity obligated to make payments to the Issuer under the terms of a Participation Interest.

Selling Institution. An institution from which the Originator acquires a Participation which it sells to the Seller or from which the Seller acquires a Participation, as applicable.

Selling Institution means an institution from which a Participation would be Acquired.