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For such purposes, this Agreement shall constitute a security agreement under the UCC, to secure the prompt and complete payment of a loan deemed to have been made by the Participant to the Grantor in an amount equal to the aggregate purchase price paid to the Grantor together with such other obligations of the Grantor
Generally, participation agreements involve one or more participants who purchase an interest in the underlying loan, but a single lender, the lead lender, retains control over the loan and manages the relationship with the borrower.
A participation agreement is enforceable by law (much like any other binding contract).
Participation Agreement means an agreement between the Issuer and a Selling Institution in relation to the purchase by the Issuer of a Participation.
The Parties agree and acknowledge that an Affiliate of a Party located outside of the United States may want to purchase Products and Services of the other Party or an Affiliate thereof.