Class X Noteholders definition

Class X Noteholders means the persons who for the time being are registered in the Register as the holders of Class X Notes; Class X Notes means the £4,120,000 Class X mortgage backed fixed rate notes due on the Final Maturity Date; Clear Days has the meaning given to it in Paragraph 1 (Definitions) of Schedule 3 (Provisions for Meetings of Noteholders) to the Trust Deed;

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

Class X Noteholders means the persons who are for the time being the holders of the Class X Notes, which expression shall mean, whilst any Class X Global Note remains Outstanding in relation to the Class X Notes represented thereby, each person who is for the time being shown in the records of the Clearing System through which interests in the Class X Global Note, as applicable, are held as the holder of a particular principal amount of such Class X Notes for all purposes (in which regard any certificate or other document issued by the Clearing System as to the principal amount of Class X Notes represented by the global note standing to the account of any person shall be conclusive and binding for all purposes) other than with respect to the payment of any principal and interest on such Class X Notes, the right to which shall be vested, as against the Issuer, solely in the bearer of the Class X Note, as applicable, in accordance with and subject to its terms and the terms of the Trust Deed and “holder” (in respect of Class X Notes) shall be construed accordingly.

Examples of Class X Noteholders in a sentence

• Liquidation of the Collateral at such time or remedies pursued by the Trustee upon enforcement of the security over the Collateral could be adverse to the interests of the Class X Noteholders, the Class A Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders or the Subordinated Noteholders, as the case may be.

• Remedies pursued on behalf of the Class X Noteholders and the Class A Noteholders could be adverse to the interests of the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders and the Subordinated Noteholders.

• To the extent that any losses are incurred by the Issuer in respect of any Collateral, such losses will be borne first by the Subordinated Noteholders, then by the Class F Noteholders, then by the Class E Noteholders, then by the Class D Noteholders, then by the Class C Noteholders, then by the Class B Noteholders and, finally, by the Class X Noteholders and the Class A Noteholders.

• The Trust Deed provides that in the event of any conflict of interest among or between the Class X Noteholders, the Class A Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders and the Subordinated Noteholders, the interests of the Controlling Class will prevail.

• To the extent that any losses are incurred by the Issuer in respect of any Collateral, such losses will be borne first by the Subordinated Noteholders, then by the Class F Noteholders, then by the Class E Noteholders, then by the Class D Noteholders, then by the Class C Noteholders, then by the Class B Noteholders and finally, by the Class X Noteholders and the Class A Noteholders.

• The Class X Noteholders shall have no further claim against the Issuer for the Principal Amount Outstanding on the Class X Notes and any Class X Revenue Interest Amount 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.

• Such shortfall will be borne (as amongst the Noteholders) by: (a) firstly, the Subordinated Noteholders; (b) secondly, the Class F Noteholders; (c) thirdly, the Class E Noteholders;(d) fourthly, the Class D Noteholders; (e) fifthly, the Class C Noteholders; (f) sixthly, the Class B Noteholders; and (g) lastly, the Class X Noteholders and the Class A Noteholders, in each case in accordance with the Priorities of Payment.

• Remedies pursued on behalf of the Class A Noteholders could be adverse to the interests of the Class X Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders and the Subordinated Noteholders.

• Liquidation of the Collateral at such time or remedies pursued by the Trustee upon enforcement of the security over the Collateral could be adverse to the interests of the Class X Noteholders, the Class A Noteholders, the Class B Noteholders, the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders, the Class Z Noteholders or the Subordinated Noteholders, as the case may be.

• To the extent that any losses are incurred by the Issuer in respect of any Collateral, such losses will be borne first by the Subordinated Noteholders, then by the Class Z Noteholders, then by the Class F Noteholders, then by the Class E Noteholders, then by the Class D Noteholders, then by the Class C Noteholders, then by the Class B Noteholders and, finally, by the Class X Noteholders and the Class A Noteholders.

More Definitions of Class X Noteholders

Class X Noteholders means the persons who for the time being are the registered holders of the Class X Notes;

Class X Noteholders means the registered holders of the Class X Notes, from time to time; "Class X Notes" means the €21,850,000 Class X Notes due 2020, issued by the Issuer;