Participation
Participation means the transfer or assignment of an undivided interest in all or part of a loan or a lease from a seller, known as the lead, to a buyer, known as the participant, without recourse to the lead, under an agreement between the lead and the participant. Without recourse means that the participation is not subject to any agreement that requires the lead to repurchase the participant's interest or to otherwise compensate the participant due to a default on the underlying obligation.
means the transfer or assignment of an undivided interest in all or part of a loan or a lease from a seller, known as the lead, to a buyer, known as the participant, without recourse to the lead, under an agreement between the lead and the participant.