Examples of Eligible Participation Interest in a sentence
Each Receivable included as an Eligible Receivable in the Net Pool Balance in connection with any computation or recomputation of the Borrowing Base is an Eligible Receivable on such date, and each Participation Interest included as an Eligible Participation Interest in the Net Pool Balance in connection with any computation or recomputation of the Borrowing Base is an Eligible Participation Interest on such date.
For the avoidance of doubt, the Asset Value of a Purchased Asset shall be determined with respect to the Asset Value of the related Underlying Asset; provided that if a Purchased Asset fails to qualify as an Eligible Participation Interest, Buyer may xxxx the Asset Value of such Purchased Asset (and all related Underlying Assets) to zero.
Each Private Receivable and Participation Interest included in the Net Pool Balance as an Eligible Receivable or Eligible Participation Interest, as the case may be, on the date of any Monthly Report was an Eligible Receivable or Eligible Participation Interest, as applicable, on such date.
For the avoidance of doubt, Eligible Participation Interest shall not include a sub-participation interest in any Loan.
For each Loan in which an Eligible Participation Interest is held by the Issuer, the date on which the assignment thereof to the Issuer pursuant to the applicable Underlying Instrument has become effective and such loan has settled into the Issuer.