Examples of Senior Participation Interest in a sentence

Without limiting the foregoing, all actions (including, without limitation, the filing of all financing statements or other similar instruments or documents under the UCC of all applicable jurisdictions and the giving of all notices that may be required under the laws of any applicable jurisdiction) required in order to perfect and protect the Borrower’s interest in the Senior Participation Interest with respect thereto as against any purchasers from, or creditors of, BWF have been duly taken.
Senior Participant will execute, deliver and issue to Senior Participant and Junior Participant and to any other holder of all or any portion of the Senior Participation Interest or Junior Participation Interest one (1) or more participation certificates (in substantially the form annexed hereto as Exhibit A and made a part hereof), evidencing the ownership of the Senior Participation Interest or Junior Participation Interest, as applicable.
BWF will transfer the Senior Participation Interest to the Borrower in accordance with the terms of the Participation Agreement, and the Borrower will acquire all legal and equitable title to such Senior Participation Interest free and clear of any Adverse Claims other than Permitted Liens or Permitted Real Estate Encumbrances.
The Borrower has collaterally assigned and pledged to the Lender all of the Borrower’s Senior Participation Interest in the Purchase and Sale Agreement pursuant to the Collateral Assignment of Participation Agreement.
The Senior Participation Interest has been transferred to the Borrower from BWF in accordance with the terms of the Participation Agreement, and the Borrower has thereby irrevocably acquired all legal and equitable title to such Senior Participation Interest free and clear of any Adverse Claims other than Permitted Liens or Permitted Real Estate Encumbrances and in accordance with the Purchase and Sale Agreement.

More Definitions of Senior Participation Interest

Senior Participation Interest means a senior or pari passu senior Participation Interest in a Mortgage Loan or a Mezzanine Loan and the related Mortgage Loan evidenced by a Participation Certificate; provided that, unless otherwise approved in writing by Purchaser in its sole discretion, any pari passu Senior Participation Interest is the controlling participation interest (but the holder thereof does not need to be the mortgagee of record or pledgee for the related equity interests so long as an agent thereof is the mortgagee of record, the pledgee or the holder of the related companion participation interest which is the mortgagee of record is a securitization issuer). A Senior Participation Interest shall not be junior to any other participation interest or Promissory Note secured directly or indirectly by the same Mortgaged Property (it being understood, for the avoidance of doubt, that a Senior Participation Interest in a Mezzanine Loan shall not be deemed junior to a Senior Participation Interest in the related Mortgage Loan to the extent that such Senior Participation Interests collectively are not junior to any other Promissory Note or Participation Interest secured directly or indirectly by the same Mortgaged Property).

Senior Participation Interest means a senior or pari passu senior participation interest in a Mortgage Loan or a combination of a Mortgage Loan and a related Mezzanine Loan (such Mortgage Loan or combination of Mortgage Loan and related Mezzanine Loan, a “Participated Loan”) that is either (i) the controlling participation interest in such Participated Loan or (ii) if approved by Purchaser in its sole and absolute discretion based on relevant facts and/or circumstances, a non-controlling participation interest in such Participated Loan, provided that, (A) the Participated Loan was previously a Purchased Asset and was included in a securitization and, if such securitization closes after the date hereof, for which Purchaser or an Affiliate of Purchaser acted as an underwriter or structuring agent (where such non-controlling Senior Participation Interest represents a portion of such Participated Loan that is not being included in such securitization); (B) control is required to be in the securitization to satisfy the reinvestment criteria for such securitization in connection with the inclusion of a portion of the Purchased Asset in such securitization; (C) the Maximum Purchase Price Percentage of the Purchased Asset as of the applicable Purchase Date may, in Purchaser’s sole and absolute discretion, be reduced in accordance with the Pricing Matrix and the related Confirmation; (D) any non-controlling Senior Participation Interest may only continue to be an Eligible Asset until the nine (9) months anniversary of such non-controlling Senior Participation Interest becoming a Purchased Asset; and (E) the aggregate outstanding Purchase Price with respect to non-controlling Senior Participation Interests does not at any time exceed 10% of the Maximum Facility Purchase Price; and (F) the Participated Loan was originated by an Affiliate of Guarantor or a Subsidiary thereof. A Senior Participation Interest shall not be junior to any other participation interest or Promissory Note secured directly or indirectly by the same Mortgaged Property (it being understood, for the avoidance of doubt, that a Senior Participation Interest in a Mezzanine Loan shall not be deemed junior to a Senior Participation Interest in the related Mortgage Loan as a result of the subordination of the Mezzanine Loan to the Mortgage Loan).

Senior Participation Interest means a senior Participation Interest. A Senior Participation Interest may include CLO Pari Passu Interests and CLO Future Funding Interests and shall not be junior to or pari passu with any other Participation Interest.

Senior Participation Interest means the “Senior Participation Interest” with respect to the Excluded Asset, as such term is defined in the Participation Agreement.

Senior Participation Interest shall have the meaning given such term in Section 3.01.

Senior Participation Interest. A participation interest or note interest in a Whole Loan which is (a) senior in rights, or (b) pari passu in rights, to all other participation interest or note interest created under the related Participation Interest Documents; provided, that, such Senior Participation Interest may be either controlling or non-controlling but may not be subordinate in its rights to any other Participation Xxxxxxxx. Xxxxxx Xxxxxxxxxx and Securities Xxxxxxxx (Xxxxx Xxxxx/CIM Real Estate) CHAR1\1716309v16

Senior Participation Interest means a senior or pari passu senior Participation Interest in a Mortgage Loan (which Participation Interest shall be paid in the same Applicable Currency as the related Mortgage Loan) or a Mezzanine Loan and the related Mortgage Loan evidenced by a Participation Certificate; provided that any pari passu Senior Participation Interest possesses at least 50% of the voting rights of the lenders of such Purchased Asset or any other percentage of the voting rights of such lenders provided that the applicable Seller has at least a blocking voting right on Material Decisions with respect to the Mortgage Loan which are subject to the lenders’ vote as per the related Purchased Asset Documents. A Senior Participation Interest shall not be junior to any other participation interest or Promissory Note secured directly or indirectly by the same Mortgaged Property (it being understood, for the avoidance of doubt, that a Senior Participation Interest in a Mezzanine Loan shall not be deemed junior to a Senior Participation Interest in the related Mortgage Loan to the extent that such Senior Participation Interests collectively are not junior to any other Promissory Note or Participation Interest secured directly or indirectly by the same Mortgaged Property).

Senior Participation Interest definition

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