Participation Certificate Sample Clauses

Participation Certificate. Buyer shall have received the original Participation Certificate registered into the name of the Buyer.
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Participation Certificate. On the date of the initial sale of a participation interest with respect to a portfolio of Eligible Loans hereunder, or thereafter as mutually agreed upon by the parties hereto, Lender shall execute and deliver to Participant the Participation Certificate evidencing a 100% participation and beneficial ownership interest in Eligible Loans in that portfolio as identified in Schedule A attached to the Participation Certificate. Lender shall attach or cause to be attached to the executed original Participation Certificate a schedule of the participated Eligible Loans, legal title to which shall be retained by Lender (if an eligible lender under the Higher Education Act) or by the Trustee. As Lender sells additional participation interests in Eligible Loans to Participant hereunder, no less frequently than on a monthly basis, Lender shall issue (or cause to be issued) supplemental schedules to Participant to be substituted and attached to the Participation Certificate. The participation interest shall be deemed to have been transferred to Participant upon payment of the purchase price therefor, irrespective of whether such supplemental schedules are issued by Lender. With respect to any Eligible Loan evidenced by a Master Promissory Note in the form mandated by Section 432(m)(l)(D) of the Higher Education Act, Lender shall make only one copy of the Master Promissory Note evidencing such Eligible Loan, mark the same "Official Copy" in red ink, and deliver such official xxxx or the original thereof to Servicer on behalf of Participant; Lender shall also perform any reasonable or necessary acts to perfect Participant's ownership of the participation interest in Eligible Loans including, without limitation, providing notice to the Borrowers of the transfer of the participation interest if Participant determines such acts are necessary to perfect such sale.
Participation Certificate. Exhibit A to the Existing MLPSA is hereby amended by deleting such exhibit in its entirety and replacing it with Annex A attached hereto.
Participation Certificate. The purchase of the Participations shall be evidenced by this Participation Agreement and the Participation Certificate. Treasury’s purchase of the Participations takes effect fully upon the execution of the Participation Certificate.
Participation Certificate. With respect to any Asset, Lender shall have received the original Participation Certificate registered into the name of the Lender or to the extent it relates to Repledge Collateral, in the name of CSFB.
Participation Certificate. A certificate in the form of the document attached hereto as Exhibit "A" to be executed and delivered by Originator to Participant contemporaneously with the execution of this Agreement to evidence the Participation Interest of Participant.
Participation Certificate. With respect to any Asset that constitutes a Participation Certificate, Lender shall have received the original Participation Certificate registered into the name of the Lender.
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Participation Certificate. The term “Participation Certificate” shall have the meaning set forth in Section 2A hereof.
Participation Certificate. The Participant hereby acknowledges a __% participation interest in the Loan of the Borrower(s) listed below and the Lender acknowledges acceptance of this participation, more fully described in a Participation Agreement dated ______________, 20__. Borrower:
Participation Certificate. Buyer acknowledges and agrees that the Participation Interest evidenced by the Participation Certificate subject to the rights of Xxxxxx Xxx under the Xxxxxx Mae Servicing Contract and that the Participation Certificate will include the following legend: THE PARTICIPATION INTEREST (AS DEFINED IN THE PARTICIPATION AGREEMENT) EVIDENCED BY THIS PARTICIPATION CERTIFICATE AND THE INTERESTS OF THE HOLDER THEREOF IN THE PORTFOLIO EXCESS SPREAD IS SUBJECT AND SUBORDINATE TO ALL RIGHTS, POWERS, AND PREROGATIVES OF THE FEDERAL NATIONAL MORTGAGE ASSOCIATION (“XXXXXX XXX”) UNDER AND IN CONNECTION WITH (I) THE TERMS AND CONDITIONS OF THAT CERTAIN ACKNOWLEDGMENT AGREEMENT, BY AND AMONG FANNIE MAE, PENNYMAC LOAN SERVICES, LLC (THE “COMPANY”), AND CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, AND (II) THE MORTGAGE SELLING AND SERVICING CONTRACT, THE XXXXXX XXX SELLING GUIDE, THE XXXXXX MAE SERVICING GUIDE AND ANY SUPPLEMENTAL SERVICING INSTRUCTIONS OR DIRECTIVES PROVIDED BY XXXXXX XXX, ALL APPLICABLE MASTER AGREEMENTS, RECOURSE AGREEMENTS, REPURCHASE AGREEMENTS, INDEMNIFICATION AGREEMENTS, LOSS-SHARING AGREEMENTS, AND ANY OTHER AGREEMENTS BETWEEN XXXXXX MAE AND THE COMPANY, AND ALL AS AMENDED, RESTATED OR SUPPLEMENTED FROM TIME TO TIME (COLLECTIVELY, THE “XXXXXX XXX SERVICING CONTRACT”), WHICH RIGHTS INCLUDE, WITHOUT LIMITATION, THE RIGHT OF XXXXXX MAE TO TERMINATE THE XXXXXX XXX LENDER CONTRACT WITH OR WITHOUT CAUSE AND THE RIGHT TO SELL, OR HAVE TRANSFERRED, THE SERVICING RIGHTS AS THEREIN PROVIDED. THE HOLDER OF THE PARTICIPATION CERTIFICATE’S INTEREST IN THE PORTFOLIO EXCESS SPREAD SHALL EXIST ONLY AS LONG AS THE COMPANY’S XXXXXX MAE SERVICING CONTRACT HAS NOT BEEN TERMINATED.
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