Examples of Senior Participation Interest in a sentence

Column will initially retain an 80% senior participation interest in such loans (a "Senior Participation Interest" and, together with the Junior Participation Interest, the "Participation Interests").
With respect to each Senior Participation Interest and any one of the Pari Passu Participation Interests in a single Mortgage Loan, the applicable Seller is the record mortgagee of the related Mortgage Loan (“Lead Participant”) pursuant to a participation agreement that is legal, valid and enforceable as between its parties.
This Agreement shall terminate (except for such rights as are expressly provided to survive any termination of this Agreement) upon the earlier to occur of (a) full and final payment of all amounts due under the Senior Participation Interest and Junior Participation Interest, as the case may be, or (b) as otherwise set forth in this Agreement, including, without limitation, upon the purchase by Senior Participant of the Junior Participation Interest pursuant to Section 14.
Such Participation Interest is a Senior Participation Interest, a Pari Passu Participation Interest or a Junior Participation Interest in a whole Mortgage Loan.
No effective financing statement or other instrument similar in effect covering all or any part of the Collateral is on file in any recording office, except such as may have been filed in favor of the Lender pursuant to Article VII or, with respect to the Senior Participation Interest, in favor of the Borrower pursuant to the Participation 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 or pari passu senior Participation Interest in a Mortgage Loan evidenced by a Participation Certificate; provided that the holder of any pari passu Senior Participation Interest is the Record Holder and the Controlling Holder. 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.

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 means a senior, controlling or non-controlling, participation interest in a Whole Loan evidenced by a Participation Certificate.

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), including any Starwood Pari Passu Participation; provided that the holder of any pari passu Senior Participation Interest is the Record Holder and the Controlling Holder. 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.

Senior Participation Interest definition

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