Participation Interest Sample Clauses

Participation Interest. Subject to the provisions of this ARTICLE VII and the participation provisions specified in the FHLB Guide, the Lead Bank hereby sells and assigns to the Participant Bank, and the Participant Bank hereby purchases and accepts from the Lead Bank, a Participation Interest in its Designated Loans, the Notes and the other Loan Documents evidencing and securing such Designated Loans upon the terms and conditions stated herein as further evidenced by a Participation Certificate. THIS SALE IS MADE BY THE LEAD BANK WITHOUT RECOURSE, REPRESENTATION OR WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, EXCEPT AS MAY OTHERWISE BE EXPRESSLY CONTAINED HEREIN.
Participation Interest. An undivided beneficial interest, represented by a certificate or other written document or book entry, in one or more mortgage loans, each secured by a lien on one or more one- to four-unit residential dwellings, cooperative shares in a residential dwelling or one or more units of manufactured housing.
Participation Interest. The Seller, concurrently with the execution and delivery hereof, does hereby transfer, convey, sell and assign to the Issuer, on behalf of the Holders of the Notes and the Certificates, without recourse, all its right, title and interest in and to the Series 1997-2 Participation Interest free and clear of any Liens, and all monies and the collections and proceeds due thereon and any part thereof which consists of general intangibles (as defined in the UCC) (the "Owner Trust Estate"). Simultaneous therewith and in consideration thereof, the Seller shall receive from the Issuer the Securities, including the Designated Certificate, and the obligation of the Issuer to pay an amount equal to a deferred stream of payments represented by the Holdback Amount in accordance with Section 3.05 of the Indenture. The parties hereto intend that the transaction set forth herein be a sale by the Seller to the Issuer of all of its right, title and interest in and to the Series 1997-2 Participation Interest and the other property described above. In the event that the transaction set forth herein is not deemed to be a sale, the Seller hereby grants to the Issuer a security interest in all of its right, title and interest in, to and under the Owner Trust Estate, all distributions thereon and all proceeds thereof, and this Trust Agreement shall constitute a security agreement under applicable law.
Participation Interest. 1. The representations and warranties set forth in this Exhibit VI regarding Senior Mortgage Loans (other than paragraphs 5, 12 and 62 and the last sentence of paragraph 43 of the representations and warranties relating to Senior Mortgage Loans) shall be deemed incorporated herein with respect to each Underlying Mortgage Loan related to the Purchased Asset.
Participation Interest. With respect to each Pledged Policy, the Borrower shall pay the related Participation Interest to the Lenders pursuant to the terms of this Loan Agreement.
Participation Interest. An obligation of the Issuer in respect of a Pre-funded Letter of Credit or a participation interest of the Issuer in a Loan (other than a Delayed-Draw Loan) that, if acquired directly by the Issuer, would qualify as a Portfolio Asset as of the Portfolio Asset Trade Date.
Participation Interest. An undivided beneficial interest, represented by a certificate or other written document or book entry, in one or more mortgage loans, each secured by a lien on one or more Multifamily Properties.
Participation Interest. The Deposit Trustee shall deliver the Series 1997-2 Partici- pation Interest to the Seller when authenticated in accordance with Section 6.02 of the Agreement.