Note Participation definition

Note Participation means a participation interest in a SBA 7(a) Loan.

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Note Participation means the pro rata allocable interest, represented by the percentages set forth on Exhibit B, of a Seller to receive payments of principal and interest under the Promissory Note.

Note Participation means a participation interest in a SBA 7(a) Loan. “Obligations” means all existing and future debts, liabilities and obligations of every kind or nature at any time owing by Borrower to Administrative Agent and any of the Lenders, whether under this Agreement, or any other existing or future instrument, document or agreement, between Borrower and Administrative Agent or any of the Lenders, whether joint or several, related or unrelated, primary or secondary, matured or contingent, due or to become due (including debts, liabilities and obligations obtained by assignment), and whether principal, interest, fees, indemnification obligations hereunder or Expenses (specifically including interest accruing after the commencement of any bankruptcy, insolvency or similar proceeding with respect to Borrower, whether or not a claim for such post-commencement interest is allowed), including, without limitation, debts, liabilities and obligations in respect of the Loans and any extensions, modifications, substitutions, increases and renewals thereof; any amount payable by Borrower or any Subsidiary of Borrower pursuant to an Interest Hedging Instrument or any ACH Transactions; the payment of all amounts advanced by Administrative Agent or any of the Lenders to preserve, protect and enforce rights hereunder and in the Collateral; and all Expenses incurred by Administrative Agent or any of the Lenders. Without limiting the generality of the foregoing, Obligations shall include any other debts, liabilities or obligations owing to Administrative Agent or any of the Lenders in connection with any cash management, or other services (including electronic funds transfers or automated clearing house transactions) provided by Administrative Agent or any of the Lenders to Borrower, as well as any other loan, advances or extension of credit, under any existing or future loan agreement, promissory note, or other instrument, document or agreement between Borrower and Administrative Agent or any of the Lenders. “Outstanding Advances-Guaranteed Loans” means, of any date of determination, the aggregate sum of all outstanding Advances-Guaranteed Loans made pursuant to Section 2.1(a) hereof. “Outstanding Advances-Non-Guaranteed Loans” means, of any date of determination, the aggregate sum of all outstanding Advances-Non-Guaranteed Loans made pursuant to Section 2.1(b) hereof. “Other Taxes”: means any and all present or future stamp or documentary taxes or any other excise or property ta...

Examples of Note Participation in a sentence

In the event that Bailee fails to deliver a Mortgage Note, Participation Certificate or other material portion of a Purchased Asset File that was in its possession to Custodian within three (3) Business Days following the applicable Purchase Date, the same shall constitute a “Bailee Delivery Failure” under this Bailee Agreement.
Every temporary Note Participation shall be executed and delivered by the Trustee upon the same conditions and terms and in substantially the same manner as definitive Note Participations.
The Owner hereby has a proportionate undivided ownership interest in each of the following Notes, each dated the Date of Initial Delivery, maturing on the Principal Payment Date and bearing interest at the Interest Rate per annum and payable on the Principal Payment Date, all as specified on the face of this Note Participation.
The registered owner of this Note Participation is entitled to receive, subject to the terms of the Notes, on the Principal Payment Date (the “Principal Payment Date”) set forth above, upon surrender of this Note Participation on such Principal Payment Date at said office of the Trustee, the principal sum set forth above, representing the registered owner’s proportionate share of the principal payments on the Notes becoming due and payable on such Principal Payment Date.
Note: Participation in this Management Incentive Plan is restricted to those Units that have a planned (budgeted) Pretax income which exceeds US $500,000.
A description of the proposed amendment, together with a request to the Owners for their consent thereto, shall be mailed by the Trustee to each Owner of a Note Participation at his address as set forth in the Note Participation registration books maintained pursuant to Section 2.07 hereof, but failure to receive copies of such description and request so mailed shall not affect the validity of the supplemental agreement when assented to as in this Section provided.
The Trustee may require payment of a sum not exceeding the actual cost of preparing each new Note Participation executed and delivered by it under this section and of the expenses which may be incurred by it under this section.
In addition, the registered owner of this Note Participation is entitled to receive such registered owner’s proportionate share of the interest payments on the Notes accruing from the date of initial issuance of the Notes and becoming due and payable on the Principal Payment Date.
After the effective date of any action taken as hereinabove provided, the Trustee may determine that the Note Participations may bear a notation by endorsement in form approved by the Trustee as to such action, and in that case upon demand of the Owner of any Outstanding Note Participation and presentation of the Note Participation for such purpose at the office of the Trustee a suitable notation as to such action shall be made on such Note Participation.
If any Note Participation shall become mutilated, the Trustee shall execute and deliver a new Note Participation of like tenor and series in exchange and substitution for the Note Participation so mutilated, but only upon surrender to the Trustee of the Note Participation so mutilated, and every mutilated Note Participation so surrendered to the Trustee shall be cancelled by it.

More Definitions of Note Participation

Note Participation means a participation interest with respect to a SBA 7(a) Note Receivable, sold by Borrower pursuant to documentation reasonably acceptable to Lender.