Knowing participation definition

Knowing participation means “actual or constructive knowledge of the circumstances that rendered the transaction unlawful.” Id. at 251. The nonfiduciary need not have engaged in any wrongdoing. It is enough if he had knowledge, based on the surrounding circumstances, that the fiduciary was engaging in a prohibited transaction. See id.; see also Brock v. Hendershott, 840 F.2d 339, 342 (6th Cir. 1988) (“[A] nonfiduciary’s knowledge of the breach can be inferred from surrounding circumstances raising a reasonable inference of knowledge.”); Trs. of Update
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Knowing participation means “actual or constructive knowledge” of the circumstances that made the transaction unlawful. Harris Trust, 530 U.S. at 251.
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Examples of Knowing participation in a sentence

  • Acting in Concert: (i) Knowing participation in a joint activity or ----------------- interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement; or (ii) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement or other arrangement, whether written or otherwise.

  • Acting in Concert: (i) Knowing participation in a joint activity or interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement; or (ii) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement or other arrangement, whether written or otherwise.

  • Knowing participation can be inferred from the surrounding facts and circumstances.

  • Acting in Concert – The term “acting in concert” means: 1) Knowing participation in a joint activity or interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement; or 2) A combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement or other arrangement, whether written or otherwise.

  • Knowing participation by a third party in a dishonest or fraudulent design on the part of the trustee or fiduciary required the Briginshaw standard for liability under the second limb of Barnes v Addy: EC Dawson Investments Pty Ltd v Crystal Finance Pty Ltd (No 3) [2013] WASC 183 at [658].

  • Knowing participation in such violations increases the potential liability to a minimum penalty of $1,000 and a maximum penalty of $2,500.

  • Knowing participation in significant or repetitive violation of the NCAA or SEC constitution, by-laws, rules, regulations, or interpretations thereof by the NCAA or SEC.

  • Knowing participation in that breach by the defendant: Under Malpiede, defendant knowingly participates when (among other things) he and the fiduciary conspire in or agree to the FD breach.

  • Knowing Participation is a “Stringent” Standard• Knowing participation is a “stringent” standard.

  • K]nowing participation need not be pleaded with particularity.” Instead, “liberal notice pleading” is sufficient to survive a motion to dismiss.

Related to Knowing participation

  • 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:

  • L/C Participation shall have the meaning provided in Section 3.3(a).

  • Direct Loan Participation means a Loan in respect of which, pursuant to a participation agreement, the Issuer is capable of creating, or procuring the creation of, a contractual right in favour of a notional protection seller that provides such notional seller with recourse to the participation seller for a specified share in any payments due under the relevant Loan which are received by such participation seller, any such agreement to be entered into between (i) such notional seller and (ii) either (A) the Issuer (to the extent the Issuer was then a lender or a member of the relevant lending syndicate), or (B) a Qualifying Participation Seller (if any) (to the extent such Qualifying Participation Seller is then a lender or a member of the relevant lending syndicate);

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

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

  • 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.

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

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Applicable Participation Agreement Has the meaning specified in Section 5.01(b) of this Trust Supplement.

  • Participation Interest means the purchase by a Lender of a participation interest in Letters of Credit as provided in Section 2.2 and in Swingline Loans as provided in Section 2.3.

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

  • 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.

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

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrower on the assumption that each Lender has made available to the Administrative Agent such Xxxxxx’s share of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.12(b) and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrower or made available to the Administrative Agent by any such Lender, and (b) with respect to any L/C Issuer, the aggregate amount, if any, of amounts drawn under Letters of Credit in respect of which a Revolving Credit Lender shall have failed to make Revolving Credit Loans or L/C Advances to reimburse such L/C Issuer pursuant to Section 2.03(d).

  • Participation Rate means the rate of interest payable on the Loan to Participant by Administrative Agent-Servicer.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Participating Bank means any participating banks of the JETCO ATM network, (if applicable) PLUS ATM network and/or (if applicable) China UnionPay ATM network;

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

  • 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.

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

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

  • Defaulting Lender means any Lender with respect to which a Lender Default is in effect.

  • Participation Agreements as defined in this Trust Supplement are the "Note Purchase Agreements" referred to in the Basic Agreement.