Purchase Option and Cure Rights of the Class CBM Directing Certificateholder Sample Clauses

Purchase Option and Cure Rights of the Class CBM Directing Certificateholder. At any time during the continuance of a Class CBM Purchase Option Event (which may only occur while a Courtyard by Marriott Change of Control Event exists), the Class CBM Directing Certificateholder may, at its option, purchase the Courtyard by Marriott Trust Mortgage Loan at the Class CBM Purchase Price, provided that it simultaneously purchases the Courtyard by Marriott Pari Passu Non-Trust Mortgage Loans at the purchase price therefor set forth under the definition of "Purchase Price" in the Courtyard by Marriott Co-Lender Agreement. Such option does not extend to any REO Property and shall terminate upon the foreclosure of or the acceptance of a deed in lieu of foreclosure with respect to the Courtyard by Marriott Mortgaged Properties. In addition, the holder of the Courtyard by Marriott Trust Mortgage Loan or its designee is entitled, pursuant to Section 4.03 of -240- the Courtyard by Marriott Co-Lender Agreement, to exercise the certain purchase options (which must be exercised with respect to both Courtyard by Marriott Pari Passu Non-Trust Loans simultaneously). In connection therewith, the Trustee, as holder of the Courtyard by Marriott Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), hereby designates the Class CBM Directing Certificateholder as the party entitled to exercise such purchase option in its individual capacity (with its own funds) and not on behalf of the Trust; provided that the Class CBM Directing Certificateholder must simultaneously purchase the Courtyard by Marriott Trust Mortgage Loan at the Class CBM Purchase Price together with the Courtyard by Marriott Pari Passu Non-Trust Mortgage Loans at the purchase price set forth under the Courtyard by Marriott Co-Lender Agreement. The Class CBM Directing Certificateholder shall exercise such option by providing written notice to the Trustee, the Courtyard by Marriott Pari Passu Non-Trust Mortgage Loan Noteholders, the Master Servicer and the Special Servicer of its proposed purchase of the Courtyard by Marriott Trust Mortgage Loan and the Courtyard by Marriott Pari Passu Non-Trust Mortgage Loans at least 10 days prior to the proposed purchase date (which notice shall not be rescinded by the Class CBM Directing Certificateholder any later than two Business Days prior to the proposed purchase date). Concurrently with the payment to the Trust of the Class CBM Purchase Price and the payment of the purchase price for the Courtyard by Marriott Pari Passu N...
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Related to Purchase Option and Cure Rights of the Class CBM Directing Certificateholder

  • Request by Certificateholders or the Serviced Companion Loan Holder Where information or reports are required to be delivered to a Certificateholder or a Serviced Companion Loan Holder, as applicable, upon request pursuant to the terms of this Agreement, such request can be in the form of a single blanket request by a Certificateholder or a Serviced Companion Loan Holder, as applicable, to the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, and, with respect to such Certificateholder or a Serviced Companion Loan Holder, as applicable, such request shall be deemed to relate to each date such report or information may be requested. The notice shall set forth the applicable Sections where such reports and information are requested.

  • Purchase Rights of Certificateholders (a) By acceptance of its Applicable Certificate, each Applicable Certificateholder agrees that at any time after the occurrence and during the continuation of a Certificate Buyout Event:

  • Prior Notice to Trust Certificateholders with Respect to Certain Matters Subject to the provisions and limitations of Section 4.4, with respect to the following matters, the Securitization Trust shall not take action unless at least thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Trust Certificateholders in writing of the proposed action and prior to the 30th day after such notice is given the Trust Certificateholders shall not have notified the Owner Trustee in writing that such Trust Certificateholders have withheld consent or provided alternative direction:

  • Action by Trust Certificateholders with Respect to Certain Matters (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 Exchange Noteholder pursuant to the 2017-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 Exchange Note or appoint a Successor Servicer with respect thereto.

  • Control by Certificateholders Subject to Section 6.03 and the Intercreditor Agreement, the Certificateholders holding Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in interest in the Trust shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Trust or pursuant to the terms of the Intercreditor Agreement, or exercising any trust or power conferred on the Trustee under this Agreement or the Intercreditor Agreement, including any right of the Trustee as Controlling Party under the Intercreditor Agreement or as holder of the Equipment Notes, provided that:

  • Notification to Certificateholders (a) Upon any termination of or appointment of a successor to the Master Servicer, the Trustee shall give prompt written notice thereof to Certificateholders and to each Rating Agency.

  • Depositor as Certificateholder The Depositor in its individual or any other capacity may become the owner or pledgee of Certificates and may otherwise deal with the Owner Trustee or its Affiliates as if it were not the Depositor.

  • Prior Notice to the Certificateholders with Respect to Certain Matters With respect to the following matters, the Owner Trustee shall not take action unless at least thirty (30) days before the taking of such action (or such shorter period as shall be agreed to in writing by all Certificateholders), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and none of the Certificateholders shall have notified the Owner Trustee in writing prior to the 30th day (or such agreed upon shorter period) after such notice is given that such Certificateholders have withheld consent or provided alternative direction:

  • Actions by Certificateholders (a) Wherever in this Trust Agreement a provision is made that an action may be taken or a notice, demand or instruction given by Certificateholders or Beneficial Owners, such action, notice or instruction may be taken or given by any Certificateholder or Beneficial Owner.

  • Termination Upon Distribution to Noteholders This Indenture and the respective obligations and responsibilities of the Issuer and the Indenture Trustee created hereby shall terminate upon the distribution to the Noteholders, the Certificate Paying Agent on behalf of the Certificateholders and the Indenture Trustee of all amounts required to be distributed pursuant to Article III; provided, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. James's, living on the date hereof.

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