Initial Participation definition

Initial Participation means, in respect of any Qualifying Insurer, the amount, expressed as a percentage, resulting from the initial calculation made in accordance with paragraph 3.3 of Schedule 2

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Initial Participation means (a) in respect of each of the Savings Mortgage Receivables, on the Transfer Date, or, if applicable, (b) in respect of a switch from any type of Mortgage Loan into an Insurance Savings Mortgage Loan, the immediately succeeding CBC Payment Date following such switch, (i) an amount equal to the sum of the Savings Premia received by the relevant Savings Participant with accrued interest up to the first day of the calendar month in which the relevant Transfer Date falls; or (ii) in respect of Switch Mortgage Receivables with a Savings Alternative, amounts switched under the relevant Savings Investment Insurance Policies from investments into a deposit into the Savings Alternative during the month immediately preceding such CBC Payment Date;

Initial Participation. A participation interest, granted on or about the Closing Date by the Originator in all or a portion of an Eligible Loan held by the Originator as of such date, which shall be converted into a full assignment within 60 days following the Closing Date.

Examples of Initial Participation in a sentence

• The notice will include that the deadline for becoming an Initial Participating Subdivision is the Initial Participation Date.

• A Subdivision qualifies as an Initial Participating Subdivision if it meets the applicable requirements for becoming a Participating Subdivision set forth in Section VII.B or Section VII.C by the Initial Participation Date.

• Except for trials begun before the Initial Participation Date, a Litigating Subdivision or a Later Litigating Subdivision may not become a Participating Subdivision after the completion of opening statements in a trial of a legal action it brought that includes a Released Claim against a Released Entity.

• Should such a Subdivision become a Participating Subdivision between the Initial Participation Date and the Effective Date, the allocation for such Participating Subdivision shall be transferred to the Settlement Fund and paid to the Participating Subdivision at the same time as Initial Participating Subdivisions in that State are paid.

• If a Settling State enacts a legislative Bar after the Initial Participation Date, but before July 15, 2022, a Subdivision that meets the requirements for becoming a Participating Subdivision under Section VII prior to July 15, 2022 (but was not an Initial Participating Subdivision) shall be eligible to receive its allocated share (if any) for Payment Year 2, and it shall also receive any amounts allocated to it for Payment Year 1 from the Settlement Fund Escrow.

• Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall then be appended hereto as Exhibit L.

• Prior to the Initial Participation Date, the Settling Distributors and the Enforcement Committee shall agree to selection and removal processes for and the identity of the Settlement Fund Administrator, and a detailed description of the Settlement Fund Administrator’s duties and responsibilities, including a detailed mechanism for paying the Settlement Fund Administrator’s fees and costs, all of which shall be appended to the Agreement as Exhibit L.

• A Subdivision qualifies as an Initial Participating Subdivision if it meets the applicable requirements for becoming a Participating Subdivision set forth in subsections VII.B or VII.C by the Initial Participation Date.

• A Special District that is not an Initial Participating Special District may become a Later Participating Special District by meeting the applicable requirements for becoming a Participating Special District after the Initial Participation Date and agreeing to be subject to the terms of any agreement reached by the applicable Settling State with Initial Participating Special Districts.

• Prior to the Initial Participation Date, ▇▇▇▇▇▇▇ and the Enforcement Committee will agree to a detailed mechanism consistent with the foregoing for the Settlement Fund Administrator to follow in allocating, apportioning, and distributing payments, which shall be appended hereto as Exhibit L.

More Definitions of Initial Participation

Initial Participation means each of the Initial Bank Savings Participation and the Initial Insurance Savings Participation.

Initial Participation has the meaning attributed to it in article 22.1. 1.27. PARTIES means the Government and the Contractor; and PARTY means the Government, the Contractor, or any of the entities that make up the Contractor. 1.28. APPRAISAL PERIMETER means any portion of the Delimited Region where one of the Hydrocarbons discoveries has been made the size of which shall be evaluated, for which the Government has granted the Contractor an exclusive appraisal permit in accordance with the provisions of article 11.3. 1.29. PRODUCTION PERIMETER means any portion of the Delimited Region for which the Government has granted the Contractor an exclusive production permit in accordance with the provisions of article 12. 1.30. CRUDE OIL means crude mineral oil, asphalt, ozokerite and all sorts of Hydrocarbons and bitumens, either solid or liquid, in their natural state or obtained from Natural Gas by condensation or extraction, including condensate and liquid Natural Gas. 1.31. CUBIC FOOT means the quantity of Natural Gas contained in a volume of one (1) cubic foot measured at a temperature of 60° F and at an atmospheric pressure of 14.696 p.s.i.a. 1.32. ABANDONMENT PLAN has the meaning attributed to it in article 20.7. 1.33 POINT OF DELIVERY OF NATURAL GAS means a point of transfer agreed upon by the Parties at the time the development and production plan is submitted.

Initial Participation means the amount (expressed as a percentage) of participation in this option identified for that Second Secured Lender in Schedule 1. ADDITIONAL PARTICIPATION means the amount (expressed as a percentage) of participation in this option transferred to that Second Secured Lender in accordance with this Agreement. - 13 - <Page> TRANSFERRED PARTICIPATION means the amount (expressed as a percentage) of participation in this option transferred by that Second Secured Lender to another person in accordance with this Agreement. 8.8 After a Second Secured Lender has given a Trigger Notice to the Option Holder (and the Share Option has been exercised as a result) that Second Secured Lender may no longer transfer its participation in this option to the extent so utilised.

Initial Participation means the amount (expressed as a percentage) of participation in this option identified for that Second Secured Lender in Schedule 1.