Class S Noteholders definition

Class S Noteholders has the same meaning as in the Trust Deed; "Class S Notes" has the same meaning as in the Trust Deed;

Class S Noteholders means the several persons who are for the time being Holders (as defined in Condition 1(d)) of the Class S Notes (being, if and to the extent that the Class S Notes are represented by the Definitive Class S Notes, the holders thereof and, if and to the extent that the Class S Notes are represented by the Global Class S Notes, the persons for the time being shown in the records of Euroclear and Clearstream, Luxembourg (other than Clearstream, Luxembourg if Clearstream, Luxembourg shall be an account holder of Euroclear and other than Euroclear if Euroclear shall be an account holder of Clearstream, Luxembourg) as being holders of the Class S Notes) in which regard any certificate or other document issued by Clearstream, Luxembourg or Euroclear as to the principal amount of Class S Notes standing to the account of any person shall be conclusive and binding for all purposes hereof (other than for the purposes of payments in respect thereof the right to which shall be vested, as against the Issuer and the Trustee, solely in the holder of the Class S Notes in accordance with and subject to their respective terms and the terms of this Agreement) and the words "holder" and "holders" shall (where appropriate) be construed accordingly;

Class S Noteholders means the holders from time to time of any Class S Notes.

Examples of Class S Noteholders in a sentence

• The Class S Noteholders shall have no further claim against the Issuer for the Principal Amount Outstanding on the Class S Notes after the date on which the Issuer no longer holds any Mortgage Receivables and there is no balance standing to the credit of the Issuer Transaction Accounts and the Issuer has no further rights under or in connection with any of the Transaction Documents.

• Utilisation of leverage is a speculative investment technique and involves certain risks to investors and will generally magnify the Class S Noteholders' opportunities for gain and risk of loss.

• In connection with the exercise of its functions (including but not limited to those referred to in Condition 14 (The Note Trustee)), the Note Trustee shall have regard to the interests of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders and the Class S Noteholders, each as a Class, and shall not have regard to the consequences of such exercise for individual Noteholders.

• This interpretative detail might be useful to evaluate Bacon’s contact with the traditional skeptical sources.

• In the event that any withholding tax is imposed on payments of interest or other payments on any Notes, “gross-up” will be made to the Class A Noteholders subject to certain exceptions, but not to the Class B Noteholders or Class S Noteholders.

• On each Interest Payment Date, the Class S Amortisation Amount will be payable to the Class S Noteholders in accordance with the Pre-Enforcement Revenue Priority of Payments.

• Such shortfall will be borne by the Class S Noteholders, the Class A Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders and the Subordinated Noteholders in reverse order in accordance with the Priorities of Payment.

• Amongst other things, this may mean that following an Event of Default with respect to any Notes, neither the Class S Noteholders, nor any of the other Noteholders are entitled to direct either the acceleration of the Notes or the enforcement of the Collateral.

• Such shortfall will be borne first by (a) the Subordinated Noteholders, (b) thereafter, the Class E Noteholders, (c) thereafter, the Class D Noteholders, (d) thereafter, the Class C Noteholders, (e) thereafter, the Class B Noteholders, (f) thereafter the Class A-1 Noteholders (on a pari passu basis), and finally (g) the Class S Noteholders in accordance with the Priorities of Payment.

• In connection with the exercise of its functions (including but not limited to those referred to in Condition 14 (The Note Trustee)), the Note Trustee shall have regard to the interests of the Class A1 Noteholders, the Class A2 Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders and the Class S Noteholders, each as a Class, and shall not have regard to the consequences of such exercise for individual Noteholders.

More Definitions of Class S Noteholders

Class S Noteholders means the several persons who are for the time being Holders (as defined in Condition 1(d)) of the Class S Notes (being, if and to the extent that the Class S Notes are represented by the Definitive Class S Notes, the holders thereof and, if and to the extent that the Class S Notes are represented by the Global Class S Notes, the persons for the time being shown in the records of Euroclear and Clearstream, Luxembourg (other than Clearstream, Luxembourg if Clearstream, Luxembourg shall be an account holder of Euroclear and other than Euroclear if Euroclear shall be an account holder of Clearstream, Luxembourg) as being holders of the Class S Notes, in which regard any certificate or other document issued by Clearstream, Luxembourg or Euroclear as to the principal amount of Class S Notes standing to the account of any person shall be conclusive and binding for all purposes hereof (other than for the purposes of payments in respect thereof the right to which shall be vested, as against the Issuer and the Trustee, solely in the holder of the Class S Notes in accordance with and subject to their respective terms and the terms of this Trust Deed)) and the words "holder" and "holders" shall (where appropriate) be construed accordingly.

Class S Noteholders means the holders of the Class S Combination Notes from time to time.

Class S Noteholders has the same meaning as in the Trust Deed; "Class S Notes" has the same meaning as in the Trust Deed; "Class S VFN" has the same meaning as in the Trust Deed;‌‌‌‌‌