| Serial No.________________ | Original | |
| ________________________________ (Name of Bank) |
||
| CERTIFICATE OF PARTICIPATION WITH RECOURSE | ||
|
Issue Date : ______________, 20__ |
||
|
FOR AND IN CONSIDERATION OF PESOS ___________________________________________________________, this certificate of participation is hereby issued to evidence the _____________________________________________ (fraction or %) share of __________________________________________ in the loan/s of ___________________________________ (Name of Participant) granted by/assigned to the herein issuer, specifically described as follows: |
||
(Description of Securities)
| Principal Debtor/s | Serial Number/s | Maturity Date/s | Face Value | Interest/Yield |
| TOTAL | ||||
|
In case of default of the Principal debtor, the issuer shall pay the ______________________ share of the face value (fraction or %) of, and the interest/yield on, said debt security(ies), subject to the terms and conditions on the reverse side hereof.
|
||||
| CONFORME: | ||||
| _________________________ (Signature of Participant) |
_________________________ Duly Authorized Officer |
NOT INSURED WITH THE PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC)
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___________________________________________________________________________________
TERMS & CONDITIONS OF CERTIFICATE OF PARTICIPATION WITH RECOURSE
1. No Pretermination
Issuer shall not pay nor repurchase the participation before the maturity date of subject security(ies).
2. Liquidated Damages
In case of default, the issuer of this instrument shall be liable, in addition to interest, for liquidated damages of (amount or %), plus attorney’s fees of (amount or %)_ and costs of collection in case of suit.
3. Delivery/Custody of Securities
( ) Physically delivered to Participant
( ) Evidenced by Custodian Receipt No. __________________ dated _____________ issued by
______________________________________.
4. Separate Stipulations
( ) This Agreement is subject to the terms and conditions of __(describe document)__ dated
________________, executed by __(name of party/ies)__ and made an integral part hereof.
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