Examples of Class M Noteholders in a sentence
Notwithstanding anything to the contrary herein, Class M Additional Interest shall be payable or distributed to the Class M Noteholders only to the extent permitted by applicable law.
The Trust Deed contains provisions similar to those in the preceding two paragraphs in relation to requests in writing from Class M Noteholders upon which the Note Trustee or, as the case may be, the Master Issuer Security Trustee is bound to act.
Class M Noteholders may not receive any distributions over the life of the transaction.
On each Distribution Date, the Indenture Trustee shall distribute to each Class M Noteholder of record on the related Record Date (other than as provided in Section 11.2 of the Indenture) such Class M Noteholder’s pro rata share of the amounts on deposit in the Distribution Account that are allocated and available on such Distribution Date and as are payable to the Class M Noteholders pursuant to this Indenture Supplement.
The Class M Noteholders will be entitled to IRR Class M Amounts on each Payment Date on which the IRR Threshold has been met or surpassed.
The Indenture Trustee, acting in accordance with the instructions of the Servicer, shall in accordance with Section 5.2 pay from the Distribution Account to the Class A Noteholders, the Class M Noteholders and the Class B Noteholders, as applicable, the amounts deposited for the account of such Noteholders into the Distribution Account pursuant to this Section 4.4(e).
Such shortfall will be borne (as amongst the Noteholders) by: (a) firstly, the Class M Noteholders and the Subordinated Noteholders; (b) secondly, the Class Z Noteholders; (c) thirdly, the Class F Noteholders; (d) fourthly, the Class E Noteholders; (e) fifthly, the Class D Noteholders; (f) sixthly, the Class C Noteholders; (g) seventhly, the Class B Noteholders and (h) lastly, the Class X Noteholders, and the Class A Noteholders, in each case in accordance with the Priorities of Payment.
In giving any consent to the foregoing, the Trustee may require the Issuer to make such modifications or additions to the provisions of any of the Documents or may impose such other conditions or requirements as the Trustee may deem expedient (in its absolute discretion) in the interests of the Class A Noteholders, the Class M Noteholders and the Class B Noteholders.
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The Class M Noteholders will be entitled to IRR Class M Amounts on each Payment Date on which the Incentive IRR Threshold has been met or surpassed.