Sub-participation definition

Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and “sub-participate” shall be construed accordingly.
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Sub-participation. ’ means any agreement of a Loan Noteholder with another person under which such Loan Noteholder makes to such other person payments by reference to any of the Loan Notes and which agreement is treated as the Issuer’s sub-participation (Unterbeteiligung) in the meaning of the Guidelines.
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Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and “sub-participate” shall be construed accordingly. (b) Amend Clause 28.3 (Transfers by Lenders) in order that this clause includes a restriction on sub-participations of rights and obligations and is subject to the same consent regime as for assignments and transfers in accordance with recent Liberty precedent.
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Examples of Sub-participation in a sentence

  • Unless and until (i) both an Issuer Acceleration Notice and a Notice to Pay are served or (ii) a CBC Acceleration Notice is served, all amounts expressed to be payable by or to the CBC under the relevant Master Sub-Participation Agreement, shall instead be payable by or to the Issuer for its own account in accordance with the Pre-Notice-to-Pay Priority of Payments.

  • Once a Master Sub-Participation Agreement enters into force, the Participant may not be in a position to on-pay savings premiums to the CBC, for example because it has in principle committed itself to keep the savings in its bank account with the relevant Originator.

  • This means that in relation to Category 3 Receivables in respect of which a Master Sub-Participation Agreement is in effect, an amount equal to the relevant Participation will be deducted.

  • In such circumstances and unless otherwise agreed between the relevant Originator and the relevant Participant, the monthly on-payment obligations of the relevant Participant will be funded by a Sub-Participation Loan.

  • Pursuant to each Master Sub-Participation Agreement relating to a Savings Receivables, an Initial Settlement Amount and Further Settlement Amounts will be payable by the Participant to the CBC in return for a Participation.

  • The team responsible for developing this publication includes the following individuals: Huong Thien Nguyen (MPDF) was responsible for the overall management of the project, under the guidance and technical oversight of Trang Nguyen (MPDF) and Amanda Ellis (GEM).

  • Pursuant to a Master Sub-Participation Agreement relating to any Savings Receivable, an Initial Settlement Amount and Further Settlement Amounts will be payable by the relevant Participant to the CBC in return for a Participation.

  • Unless and until a Master Sub-Participation Agreement is in effect in relation to the relevant Savings Receivable, an amount calculated on the basis of a method notified to the Rating Agencies related to the relevant paid-in savings premium amounts will be deducted for the purposes of the Asset Cover Test and the Amortisation Test.

  • The PVQ21 consists of 21 questions responded to on a 6-point-Likert scale.

  • For as long as no Notification Event has occurred, a Master Sub-Participation Agreement may, if it concerns an MTA Receivable, be combined with a further master transfer agreement (a "Further Master Transfer Agreement") (see Section 3.7 (Sub-Participation) below for a further description of a Further Master Transfer Agreement).


More Definitions of Sub-participation

Sub-participation means any sub-participation or agreement or arrangement having an economic effect substantially similar to a sub-participation of any of its rights which transfers voting rights.
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Sub-participation has the meaning given by Section 22.3(b).
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Sub-participation means any sell down or proposal by a Finance Party to sell down a proportion of its interest in the Finance Documents to a third party financier.
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Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed, undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and sub-participate shall be construed accordingly;
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Sub-participation means, in respect of a Secured Asset or Equivalent Secured Asset which constitutes a loan, a funded sub-participation in that Secured Asset or Equivalent Secured Asset whereby a party has a contractual right entitling it to receive from the other party (as participation seller) amounts equal to a specific share in any payments made under the relevant asset which are received by the participation seller;
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Sub-participation has the meaning given to that term in Clause 28.1 (Assignments and transfers by the Lenders).
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Related to Sub-participation

  • 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.

  • 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 Extension of Credit by a Lender by way of a purchase of a participation in Letters of Credit or LOC Obligations as provided in Section 2.2 or in any Loans as provided in Section 3.8.

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

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

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

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

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

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

  • 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.

  • 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.

  • 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 Factor means a percentage to be determined in the reasonable discretion of the Issuer (billiges Ermessen) (§ 315 German Civil Code (BGB)) on the Trade Date on the basis of the volatility of the Underlyings and the market conditions prevailing on such date and to be published in accordance with § 13 hereof. The indication for the Participation Factor based on the market conditions as of 9 March 2015 is 100% (in any case, it will not be below 80%).

  • 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.

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

  • Participation Period means a period during which contributions may be made toward the purchase of Stock under the Plan, as determined pursuant to Section 6.

  • Swingline Participation Amount as defined in Section 2.7(c).

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrowers on the assumption that each Lender has made its portion of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.02(d) of the Credit Agreement and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrowers or made available to the Administrative Agent by any such Lender, (b) with respect to any Swingline Lender, the aggregate amount, if any, of participations in respect of any outstanding Swingline Loan that shall not have been funded by the Revolving Credit Lenders in accordance with Section 2.22(e) of the Credit Agreement and (c) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C Disbursement that shall not have been funded by the Revolving Credit Lenders in accordance with Sections 2.23(d) and 2.02(f) of the Credit Agreement.