Participating Lender Clause Samples

Participating Lender. The Borrower understands that, although the Revolving Note and the other Loan Documents name the Bank as the holder thereof, the Bank may from time to time sell one or more participation interests in the Revolving Loan to one or more other financial institutions. The Borrower agrees that, subject to the terms of the agreements of participation, each participating lender will be entitled to rely on the terms of this Agreement and the other Loan Documents as fully as if such participating lender had been named as the holder of the Revolving Note and the other Loan Documents.

Participating Lender. The Lender shall have the right, without prior notice to the Debtor or the approval of the Debtor, to designate one or more Participating Lenders and to grant to such Participating Lenders participations in the Receivable Loan Agreement and/or the Inventory Loan, on terms and conditions satisfactory to the Lender. In the event that the Lender so designates a Participating Lender and grants such Participating Lender a participation in any of such Loans, such Participating Lender shall communicate and deal only with the Lender in respect to such Participating Lender's interest in any of such Loans and the Collateral and the Debtor shall communicate and deal hereunder only with the Lender and not with any Participating Lender.

Participating Lender. In the event the Lender shall determine at any time or from time to time to sell one or more participation interests in the Loan to one or more other financial institutions or other lenders, the Borrower agrees that, subject to the terms of the agreements of participation, each participating lender will be entitled to rely on the terms of this Agreement and the other Loan Documents as fully as if such participating lender had been named as the holder of the Note and a party to this Agreement and the other Loan Documents. Any costs or expenses incurred by the Lender in negotiating, preparing or entering into any such participation agreement shall be paid by the Lender.

Participating Lender. (1) For the purposes of this Agreement, a lender is a Participating Lender if - (a) it is an institution that is regulated by a Regulator and operates in the Currency Union; (b) it provides or intends to provide loans in the ordinary course of business to Qualifying Enterprises; (c) it is approved by the Credit Guarantee Corporation in accordance with terms and conditions required in this Agreement; and (d) it agrees to comply with the Credit Guarantee Scheme requirements. (2) For the purposes of this Agreement, the following shall be prescribed in providing for the assessment of an application by a lender that wishes to become a Participating Lender - (a) the contents of the application form for approval as a Participating Lender; (b) the method for assessing the financial status, operations, management and lending policies of the lender by providing information to assess the following aspects of the conduct of its business - (i) its strategic positioning, by reviewing its financial products, its role in providing financing to micro enterprises, small enterprises and medium enterprises, and the extent to which it targets or intends to target specific micro, small and medium enterprise markets; (ii) its lending policies and procedures, by reviewing the extent to which its credit, security and recoveries policies and procedures, and its standard documentation and ancillary business services support access to loans by micro enterprises, small enterprises and medium enterprises; and (iii) its additionality, by reviewing the manner in which it will use the Credit Guarantee Scheme to support lending over and above that currently being provided to micro enterprises, small enterprises and medium enterprises; (c) the manner of notifying the decision relating to an application; (d) the fees payable, if any, in relation to an application, which shall not exceed the amount prescribed by law. (3) The Credit Guarantee Corporation may approve a lender as a Participating Lender under this Article if - (a) the lender agrees in writing to comply with and be bound by the terms of the Credit Guarantee Scheme; and (b) in the case of a Participating Lender who applies to continue to be a Participating Lender, the Credit Guarantee Corporation is satisfied that the Participating Lender has complied with the terms of the Credit Guarantee Scheme. (4) The Credit Guarantee Corporation - (a) may, as a term of the Credit Guarantee Scheme - (i) vary the fee that may be imposed on Parti...

Participating Lender. (a) is, and will at all times during the term of this Agreement remain, validly existing under the laws of the United States of America and duly authorized to enter into this Agreement; (b) has all requisite power to acquire and own the Participation Interest and to engage in the transactions contemplated hereby; and (c) has the full power, authority and legal right and has taken all necessary action to execute and deliver this Agreement. Participating Lender is a [describe state of formation of participating lender and type of entity], and is, and will at all times during the term of this Agreement remain, in good standing under the laws applicable to Participating Lender. Furthermore, Participating Lender is, to the extent necessary under any applicable law or regulation, duly authorized and qualified to transact any and all business contemplated by this Agreement (or is exempt from such qualification). Participating Lender possesses and shall continue to possess all requisite authority and power to conduct its business and to execute, deliver, and comply with its obligations under this Agreement.

Participating Lender. 20 2.5 Fees........................................................... 20 2.6 Computation of Fees; Lawful Limits............................. 21 2.7

Participating Lender. 42 10.2 Hold Harmless...................................................... 43 10.3 Notices............................................................ 43 10.4

Participating Lender. If Lender fails to advise the Facility Agent of its acceptance of an Initial Prepayment Offer, as required under this clause, then it shall be deemed to have accepted the Initial Prepayment Offer in full.

Participating Lender. Borrower agrees to pay to Agent for distribution to each participating Lender in respect of all Letters of Credit outstanding such Lender's Commitment Percentage of a commission equal to 5.25% per annum with respect to the daily Stated Amount under such outstanding Letters of Credit (the "LC Commission"), payable in arrears on each Payment Date, on the Facility Termination Date and thereafter, on demand. The LC Commission shall be computed from the first day of issuance of each Letter of Credit and on the basis of the actual number of days elapsed over a year of 360 days. Promptly upon receipt by Facing Agent or Agent of any amount described in clause (ii) of this Section 2.7(e), Facing Agent or Agent shall distribute to each Lender that has reimbursed Facing Agent in accordance with Section 2.7(d) its Commitment Percentage of such amount. Amounts payable under clauses (i)(A), (B) and (C) of this Section 2.7(e) shall be paid directly to Facing Agent.