Participation Interest

Participation Interest. A participation interest in ownership of the Note and the Loan Documents relating to the Borrower Advances funded by UDF III with respect to the Note (irrespective of whether such funding occurred under the Economic Participation Agreement or under this Agreement, and irrespective of whether such funding occurred or occurs prior to, on or after the Effective Date) including, without limitation, a participation in all rights incidental to ownership of the Note and the Loan Documents.

Participation Interest. A 50% Working Interest as to Stone (or its designees) and a 50% Working Interest as to Newco (or its designees).

Participation Interest. Shall have the meaning set forth in the Pledge Security Agreement and Account Control Agreement

Participation Interest. Shall mean that certain A-4 Participation Interest in the amount of $23,125,000 in that certain Mezzanine Loan (the "Mezzanine Loan") in the maximum principal amount of $130,000,000 made by Fortress Credit Corp. as of February 7, 2005 to 401 Mezz Venture LLC, a Delaware limited liability company, the owner of one hundred percent (100%) of the ownership interest in 401 North Wabash Venture LLC, a Delaware limited liability company, the owner of certain property known as the Trump International... Hotel and Tower Chicago (the "Trump Property"). View More

Participation Interest. Shall mean each participating beneficial ownership interest (of the type and nature contemplated by 11 U.S.C. § 541(d) of the United States Bankruptcy Code) in Portfolio Excess Spread with respect to a Portfolio, and proceeds thereof together with the other rights and privileges specified in this Agreement as evidenced by the issuance of a Participation Certificate.

Participation Interest. Shall have the meaning assigned to such term in the Participation Agreement or the Participation Interest Purchase and Sale Agreement (as the case may be).

Participation Interest. With respect to each Participant, its beneficial ownership interest in each Student Loan in the Program, including such Participant's right to receive its share of Student Loan proceeds on each Program Payment Date.

Participation Interest. With respect to an Advance for which a participation interest has been sold by RB to ESPV hereunder, an undivided ninety percent (90%) participation interest in the Receivables and Collections related thereto.