Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and “sub-participate” shall be construed accordingly.
Sub-participation. ’ means any agreement of a Loan Noteholder with another person under which such Loan Noteholder makes to such other person payments by reference to any of the Loan Notes and which agreement is treated as the Issuer’s sub-participation (Unterbeteiligung) in the meaning of the Guidelines.
Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and “sub-participate” shall be construed accordingly. (b) Amend Clause 28.3 (Transfers by Lenders) in order that this clause includes a restriction on sub-participations of rights and obligations and is subject to the same consent regime as for assignments and transfers in accordance with recent Liberty precedent.
More Definitions of Sub-participation
Sub-participation means any sub-participation or agreement or arrangement having an economic effect substantially similar to a sub-participation of any of its rights which transfers voting rights.
Sub-participation has the meaning given to that term in Clause 28.1 (Assignments and transfers by the Lenders).
Sub-participation means any sell down or proposal by a Finance Party to sell down a proportion of its interest in the Finance Documents to a third party financier.
Sub-participation means, in respect of a Secured Asset or Equivalent Secured Asset which constitutes a loan, a funded sub-participation in that Secured Asset or Equivalent Secured Asset whereby a party has a contractual right entitling it to receive from the other party (as participation seller) amounts equal to a specific share in any payments made under the relevant asset which are received by the participation seller;
Sub-participation has the meaning given by Section 22.3(b).
Sub-participation means any sub-participation or sub-contract (whether written or oral) or any other agreement or arrangement having an economically substantially similar effect, including any credit default or total return swap or derivative (whether disclosed, undisclosed, risk or funded) by a Lender of or in relation to any of its rights or obligations under, or its legal, beneficial or economic interest in relation to, the Facilities and/or Finance Documents to a counterparty and sub-participate shall be construed accordingly;