Examples of Class C Owners in a sentence
Payments of interest in respect of the portion of the Class C Principal Balance evidenced by a Class C Note shall be allocated and applied to Class C Owners of such Class C Note pro rata based upon the respective amounts of interest due and payable to them, determined as provided above in subsection 2.3(a).
In the case of Class C Notes held by an Agent as agent for members of its Purchaser Group, such Agent shall allocate to the Class C Owners in its Purchaser Group each payment in respect of the Class C Notes received by such Agent in its capacity as Class C Noteholder as provided herein.
Payments of the Class C Usage Fee shall be allocated and paid to Class C Owners pro rata based upon their respective interest in the Class C Principal Balance for the applicable Interest Period.
An Agent may cast any vote or give any consent or direction under the Sale and Servicing Agreement, the Indenture or other Related Documentation on behalf of the Holders (as defined in the Indenture) of Class C Notes in its Purchaser Group if it has been directed to do so by Class C Owners in such Purchaser Group having Percentage Interests aggregating greater than 50% of the aggregate Percentage Interests of all Class C Owners in such Purchaser Group.
The Administrative Agent shall be fully justified in failing or refusing to take any action under any of the Related Documents unless it shall first receive such advice or concurrence of the Required Class C Owners as it deems appropriate or it shall first be indemnified to its satisfaction by the Class C Purchasers against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
Payments of interest in respect of the portion of the Class C Note Principal Balance evidenced by a Class C Note shall be allocated and applied to Class C Owners of such Class C Note pro rata based upon the respective amounts of interest due and payable to them, determined as provided above in this Section 2.2.
In the case of Class C Notes held by the Administrative Agent, the Administrative Agent shall allocate to the Class C Owners each payment in respect of the Class C Notes received by the Administrative Agent in its capacity as Class C Noteholder as provided herein.
Payments in reduction of the portion of the Class C Note Principal Balance evidenced by a Class C Note shall be allocated and applied to Class C Owners of such Class C Note pro rata based on their respective Percentage Interests of the Class C Note Principal Balance, or in any such case in such other proportions as each affected Class C Purchaser may agree upon in writing from time to time with the Administrative Agent and the Issuer.
The Administrative Agent may cast any vote or give any consent or direction under the Indenture or other Related Documentation on behalf of the Class C Noteholders Group if it has been directed to do so by the Required Class C Owners.
The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under any of the Related Documents in accordance with a request of the Required Class C Owners, and such request and any action taken or failure to act pursuant thereto shall be binding upon all present and future Class C Purchasers.