Initial Participation Interests definition

Initial Participation Interests has the meaning specified in the definition of “Participation Interests”.

Initial Participation Interests means the Portfolio Investments listed in Schedule 7.

Initial Participation Interests means, with respect to any Seller, all Participation Interests of such Seller that existed as of the close of such Seller’s business on the applicable Existing Cut-Off Date (in the case of each of the Existing Sellers) or the applicable New Seller Cut-Off Date (in the case of any New Seller).

Examples of Initial Participation Interests in a sentence

• The Portfolio Manager and the Company wish for the Company to acquire and finance certain corporate loans and other corporate debt securities (including, for the avoidance of doubt, the Initial Participation Interests) (the “Portfolio Investments”), all on and subject to the terms and conditions set forth herein.

• On the Original Effective Date, the Company acquired the Initial Portfolio Investments and Initial Participation Interests from the Seller pursuant to the Sale Agreement, subject to the conditions specified in this Agreement.

• Furthermore, the Company acquired the Initial Participation Interests with elevation in certain Portfolio Investments listed on Schedule 7 hereto pursuant to the Sale Agreement.

• Furthermore, the Company intends to acquire the Initial Participation Interests with elevation in certain Portfolio Investments listed on Schedule 7 hereto pursuant to the Sale Agreement.

• On the Effective Date, the Company may acquire the Initial Portfolio Investments and Initial Participation Interests from the Seller pursuant to the Sale Agreement, subject to the conditions specified in this Agreement.