Common use of Controlling Class Clause in Contracts

Controlling Class. So long as the Class A Notes are outstanding, the Class A Notes, (b) if the Class A Notes are no longer outstanding but the Class B Notes are outstanding, the Class B Notes, (c) if the Class A Notes and the Class B Notes are no longer outstanding but the Class C Notes are outstanding, the Class C Notes, [and] (d) if the Class A Notes, the Class B Notes and the Class C Notes are no longer outstanding but the Class D Notes are outstanding, the Class D Notes [and (e) if the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes are no longer outstanding but the Class E Notes are outstanding, the Class E Notes].

Controlling Class. So long as the Class A Notes are outstanding, the Class A Notes, Notes (voting together as a single Class); (b) if the Class A Notes are no longer outstanding but the Class B Notes are outstanding, the Class B Notes, ; (c) if the Class A Notes and the Class B Notes are no longer outstanding but the Class C Notes are outstanding, the Class C Notes, [and] ; (d) if the Class A Notes, the Class B Notes and the Class C Notes are no longer outstanding but the Class D Notes are outstanding, the Class D Notes [Notes; and (e) if the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes are no longer outstanding but the Class E Notes are outstanding, the Class E Notes]. Only after all of the Notes (other than the Class XS Notes) are no longer outstanding will the Certificates have any of the rights that the controlling class has. The Class XS Notes will never be the Controlling Class.