In order for such a transfer to be a "true sale", the seller must not have any obligation to fund the repayment of the sub-participation loan.

为了使这种转移是一个“真实销售”，卖方必须在没有任何义务，基金的还款小组参与贷款。

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A loan participation is a back-to-back arrangement where the lender of record manufactures payments to the participation party equal to receipts on the loan in return for funding or an indemnity.

贷款的参与是一个背靠背的安排，贷款人支付给参与方等于收益的贷款的记录制成品，以换取资金或赔偿。

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Equity loan loan in the form of equity participation.

参股贷款以参股形式发放的贷款。

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Herzfeld Advisors purchased high-yield and loan participation closed-end funds at discounts of more than 30.0%, because the prices hit rock-bottom during intraday trading, said Gondor.

FORBES: Magazine Article

Still, at least in loan-participation funds, the market has become more active in recent years so valuations are fairly legitimate, said Gondor.

FORBES: Magazine Article

The January 27 Nihon Keizai Shimbun carries a report from its New York bureau on Japanese bank participation in the U.S. syndicated loan market.

FORBES: Financial Institution Shorts