Loan Participants Sample Clauses

Loan Participants. For purposes of this Section 8.4, the term “Lender” shall include any financial institution that purchases from any Lender a participation in the loans made by such Lender to the Company hereunder.
Sample 1See All (8)
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Loan Participants. For purposes of this Section 8.9, the term “CIT” shall include any financial institution that purchases from CIT a participation in the loans made by CIT to the Company hereunder.
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Loan Participants. For purposes of this Section 8.9, the term “Lender” shall include any financial institution that purchases from any Lender a participation in the loans made by such Lender to the Companies hereunder. If the Companies fail to select a valid Interest Period as of the last day of the Interest Period with respect to an existing LIBOR Loan, then the existing LIBOR Loan shall be continued as a Chase Bank Rate Loan to the Companies as of the end of such Interest Period.
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Loan Participants. For purposes of this Section 8.9, the term "Lender" shall include any financial institution that purchases from any Lender a participation in the loans made by such Lender to the Company hereunder.
Sample 1
Loan Participants. For purposes of this Section 8.9, the term "CIT" shall include any financial institution that purchases from CIT a participation in the loans made by CIT to the Companies hereunder. 8.10
Sample 1
Loan Participants. Commitment Subject to the satisfaction of the conditions in Sections 5(a) and 11(a), on the Closing Date the Loan Participant agrees to lend to the Owner Trustee, on a non-recourse basis, an amount (the Loan) equal to the Loan Percentage of the Purchase Price.
Sample 1
Loan Participants. Lender has the ongoing right, without prior notice to Borrower or Guarantor and without Borrower's or Guarantor's approval, to designate or redesignate one or more participating lenders ("Participant(s)") and to sell or grant to Participants participation interests in the Loan, in any amounts or combinations, and with respect to any Loan Documents, and with respect to any collateral for the Obligations, and upon terms or conditions as may be acceptable to Lender in its sole discretion. Participants with respect to the Loan, if any, may be the same or different than Lender's Participants with respect to any other loan from Lender in favor of Borrower. In the event that Lender so designates a Participant and sells or grants such Participant a participation interest in some or all of the Loan, such Participant shall communicate and deal only with Lender in respect to such Participant's interest in the Loan, the Loan Documents and the collateral pledged to Lender, and Borrower shall communicate and deal and shall cause Guarantor to communicate and deal only with Lender and not with any Participant. Borrower shall reasonably cooperate and shall cause Guarantor to reasonably cooperate with Lender in connection with Lender's consummation and administration of any agreements with one or more Participants or their successors and assigns ("Participation Agreement"), and in complying with the terms of such Participation Agreements, including with respect to periodic deliveries of accountings and reports with respect to the Loan and the collateral pledged to Lender.
Sample 1
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Loan Participants. The Lender may, without the consent of the Borrower or any Obligor, in compliance with applicable laws in connection with such participation, sell to one or more Persons (each a "Loan Participant") participations in all or a portion of its interests, rights and obligations under this Agreement and the other Loan Documents (including all or a portion of, the Loan and the Note held by it); provided, however, that:
Sample 1

Related to Loan Participants

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Employee Participants 2.01 ELIGIBILITY.

  • Participant Loans This Section 10.03[E] specifically authorizes the Trustee to make loans on a nondiscriminatory basis to a Participant or to a Beneficiary in accordance with the loan policy established by the Advisory Committee, provided: (1) the loan policy satisfies the requirements of Section 9.04; (2) loans are available to all Participants and Beneficiaries on a reasonably equivalent basis and are not available in a greater amount for Highly Compensated Employees than for other Employees; (3) any loan is adequately secured and bears a reasonable rate of interest; (4) the loan provides for repayment within a specified time; (5) the default provisions of the note prohibit offset of the Participant's Nonforfeitable Accrued Benefit prior to the time the Trustee otherwise would distribute the Participant's Nonforfeitable Accrued Benefit; (6) the amount of the loan does not exceed (at the time the Plan extends the loan) the present value of the Participant's Nonforfeitable Accrued Benefit; and (7) the loan otherwise conforms to the exemption provided by Code Section 4975(d)(1). If the joint and survivor requirements of Article VI apply to the Participant, the Participant may not pledge any portion of his Accrued Benefit as security for a loan made after August 18, 1985, unless, within the 90 day period ending on the date the pledge becomes effective, the Participant's spouse, if any, consents (in a manner described in Section 6.05 other than the requirement relating to the consent of a subsequent spouse) to the security or, by separate consent, to an increase in the amount of security. If the Employer is an unincorporated trade or business, a Participant who is an Owner-Employee may not receive a loan from the Plan, unless he has obtained a prohibited transaction exemption from the Department of Labor. If the Employer is an "S Corporation," a Participant who is a shareholder-employee (an employee or an officer) who, at any time during the Employer's taxable year, owns more than 5%, either directly or by attribution under Code Section 318(a)(1), of the Employer's outstanding stock may not receive a loan from the Plan, unless he has obtained a prohibited transaction exemption from the Department of Labor. If the Employer is not an unincorporated trade or business nor an "S Corporation," this Section 10.03[E] does not impose any restrictions on the class of Participants eligible for a loan from the Plan. [F] INVESTMENT IN QUALIFYING EMPLOYER SECURITIES AND QUALIFYING EMPLOYER REAL PROPERTY. The investment options in this Section 10.03[F] include the ability to invest in qualifying Employer securities or qualifying Employer real property, as defined in and as limited by ERISA. If the Employer's Plan is a Nonstandardized profit sharing plan, it may elect in its Adoption Agreement to permit the aggregate investments in qualifying Employer securities and in qualifying Employer real property to exceed 10% of the value of Plan assets.

  • Participant See Section 7(a) hereof.

  • Loans to Participants If the Adoption Agreement so indicates, a Participant may receive a loan from the Fund, subject to the following rules:

  • Lender Participations (a) Although any Lender may grant participations in its rights hereunder, such Lender shall remain a “Lender” for all purposes hereunder (and may not transfer by novation its rights and obligations or assign its rights under all or any portion of its Commitments hereunder except as provided in Sections 2.12 and 13.01) and the participant shall not constitute a “Lender” hereunder; and

  • Letter of Credit Participations (a) Immediately upon the issuance by the Letter of Credit Issuer of any Letter of Credit, the Letter of Credit Issuer shall be deemed to have sold and transferred to each Revolving Credit Lender (each such Revolving Credit Lender, in its capacity under this Section 3.3, an “L/C Participant”), and each such L/C Participant shall be deemed irrevocably and unconditionally to have purchased and received from the Letter of Credit Issuer, without recourse or warranty, an undivided interest and participation (each an “L/C Participation”), to the extent of such L/C Participant’s Revolving Credit Commitment Percentage in each Letter of Credit, each substitute therefor, each drawing made thereunder and the obligations of the Borrower under this Agreement with respect thereto, and any security therefor or guaranty pertaining thereto; provided that the Letter of Credit Fees will be paid directly to the Administrative Agent for the ratable account of the L/C Participants as provided in Section 4.1(b) and the L/C Participants shall have no right to receive any portion of any Fronting Fees.

  • Letter of Credit Participation See Section 4.1.4.

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