Class M Holder definition

Class M Holder means a Person in whose name a Class M Certificate is registered in the Certificate Register.

Examples of Class M Holder in a sentence

• Payments of the Class M Note Payment Amount to the Class M Holder are subordinated to payments in respect of the Secured Notes as set forth in the Indenture and failure to pay such amounts to the Class M Holder will not constitute an Event of Default under the Indenture.

• On each Payment Date, the Issuer promises to pay the Class M Note Payment Amount (including any unpaid Class M Note Payment Amount with respect to a prior Payment Date) to the Class M Holder in accordance with the Priority of Payments.

• If the Class M Holder transfers any of its Subordinated Notes to any Person other than to an Initial Majority Subordinated Noteholder or exchanges any portion of its Certificated Subordinated Notes for Global Subordinated Notes, the notional balance of this Class M Note on the date of the proposed transfer or exchange will automatically be reduced by the principal amount of the Subordinated Notes that are subject to such transfer or exchange.

• The Class M Maximum Funded Amount of each Class M Certificate may be reduced or increased from time to time with the written consent of the related Class M Holder and as provided in the Class M Certificate Purchase Agreement.