Master Participation Agreement definition
Examples of Master Participation Agreement in a sentence
The Borrower confirms that the Administrative Agent, on behalf of the Secured Parties, shall have the right to enforce the Borrower’s rights and remedies under the Sale Agreement, the Master Participation Agreement, any Third Party Sale Agreement and any UCC financing statements filed under or in connection therewith for the benefit of the Secured Parties.
All such assets are transferred to the Borrower without recourse to the Equityholder, except as described herein and in the Sale Agreement and the Master Participation Agreement.
In furtherance and not in limitation of the foregoing, the Borrower hereby assigns to the Administrative Agent for the benefit of the Secured Parties its right to indemnification under the Sale Agreement, the Master Participation Agreement and any Third Party Sale Agreement.
Other than pursuant to the Sale Agreement and the Master Participation Agreement, the Borrower shall not purchase any asset from the Equityholder or the Servicer or any Affiliate of the Borrower, the Equityholder or the Servicer.
Any Collateral Obligation subject to the SMBC Facility at the time of acquisition by the Borrower pursuant to the Sale Agreement and/or the Master Participation Agreement shall be released from any and all liens under the SMBC Facility in accordance with the terms thereof on or prior to the related Cut-Off Date without further action or consent of any party.