Participation Assets definition

Participation Assets means those assets as designated pursuant to Clause 2.3 as set forth in Schedule 1;

Participation Assets shall have the meaning assigned to such term in Section 2.01(a) of the Pooling Agreement.

Participation Assets means those Assets constituting participation interests established pursuant to Participation Agreements in commercial mortgage loans as permitted under the Investment Guidelines which are evidenced by Participation Certificates that are deposited into the Trust Accounts, including specifically, without limitation, Grantor Created Participation Assets.

Examples of Participation Assets in a sentence

• The WOGC/Odaat LPA restricts WOGC/Odaat to charging a maximum of $75,000 per year for general and administration costs for the administration of the Waskahigan Assets and $75,000 per year for the administration of the Waskahigan Participation Assets.

• Subject to the other provisions of this Agreement, the Grantor shall be at liberty to accept as correct any information provided to it by the parties involved in the Participation Assets as to any fact or matter, and the Grantor shall not be bound to call for further evidence or be responsible for any loss that may be occasioned by acting in good faith on the same.

• If the Grantor receives or collects any Distribution which is not in cash, the Grantor shall agree with the Participant as to how to deal with and/or dispose of such non-cash Distribution, failing which such non-cash Distribution shall become part of the Participation Assets.

• The Parties hereto acknowledge that (i) any Party may hold direct or indirect interests in the equity capital of the Company which are distinct to and separate from the Participation Assets and (ii) the issued ordinary share capital of the Company may be subject to security interests to secure loans granted by lenders to the Company.

• Other than as expressly provided herein, this Agreement shall not constitute an assignment or transfer or agreement to assign or transfer all or any part of the Participation Assets and, other than as expressly provided herein, the Participant shall have no proprietary interest of any kind whether by way of beneficial ownership, security interest or otherwise in the Participation Assets as a result of this Agreement or the arrangements contemplated hereby.

• The Participation Amounts shall be treated as funding made available by the Participant to the Grantor in respect of the Participation Assets as a result of which the Participant is contractually entitled to the Distributions (less any fees and charges), as provided in this Agreement.

• Subject to the other provisions of this Agreement (including Clause 7), the Grantor shall pay, or procure the payment to, the Participant promptly and in any case within seven (7) Business Days after receipt of an amount equal to any Distribution received or to be received by the Grantor in cash in respect of the Participation Assets.

• If Batoche drills Well #3, Batoche will earn 70% working interest in all Waskahigan Participation Assets and any other lands acquired by the Company in Waskahigan area.

• The Grantor shall not by virtue of the provisions herein contained or otherwise be deemed to be, or otherwise become, an agent, nominee, trustee or fiduciary for the Participant in respect of or in relation to the Participation Assets.

• For the avoidance of doubt however, any cash (less any applicable fees, charges and taxes) realised from the disposal of a non-cash Distribution in respect of the Participation Assets shall be promptly paid by the Grantor to the Participant in accordance with this Agreement.

More Definitions of Participation Assets

Participation Assets means those assets as designated pursuant to Clause 2.3 as set forth in Schedule 1; “Participation Amounts” means all amounts paid or to be paid by the Participant to the Grantor in relation to the

Participation Assets means the right, title and interests of Carbon in all of the existing undeveloped leasehold, undrilled prospects, rights in joint operating agreements and the like, related to Carbon’s Tennessee Mining Tract properties, that are the subject of the Participation Agreement.

Participation Assets means the assets transferred to the Trust Account by the Grantor constituting participation interests established pursuant to a Participation Agreement in commercial mortgage loans.

Participation Assets is defined in Section 2.1(b).

Participation Assets means, collectively, the oil and gas leasehold properties acquired by the Borrower in accordance with the Participation Agreements.