Controlling Class Condition definition

Controlling Class Condition means a condition that is satisfied if either (a) all of the Class A Notes issued on the Closing Date have been redeemed, refinanced or repaid in full or (b) with respect to any event or action that is conditioned upon or otherwise subject to the satisfaction of the Controlling Class Condition, a Majority of the Class A Notes has consented in writing to such event or action.
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Controlling Class Condition means a condition that is satisfied if (x) S&P’s rating of the Class A Notes and Fitch’s rating of the Class A Notes is at least the initial rating thereof and such rating has not been withdrawn (or it has been reinstated) or (y) (i) S&P’s rating of the Class A Notes or Fitch’s rating of the Class A Notes is one or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) and (ii) either (a) the Initial Class A Notes Purchaser has consented in writing to such event or action or (b) there is no longer an Initial Class A Notes Purchaser.
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Controlling Class Condition means a condition that is satisfied if all of the Class A-1 Notes issued on the Closing2021 Refinancing Date have been redeemed, refinanced or repaid in full.
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Examples of Controlling Class Condition in a sentence

  • From and after the 2019 Refinancing Redemption Date, all references in the Indenture and any appendixes, annexes, schedules or exhibits thereto to "Class A Notes" shall mean the Class A-R Notes issued on the 2019 Refinancing Redemption Date, except for references to the Class A Notes in the definitions of "Controlling Class Condition" and "Initial Majority Class A Holder" in the Glossary and in Section 2.7(a) of the Indenture.


More Definitions of Controlling Class Condition

Controlling Class Condition. A condition that is satisfied if either (i) with respect to any event or action that is conditioned upon or otherwise subject to the satisfaction of the Controlling Class Condition, the Initial Class A-1 Notes Purchaser has consented in writing to such event or action or (ii) there is no longer an Initial Class A-1 Notes Purchaser.
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Related to Controlling Class Condition

  • Controlling Class means (a) the Outstanding Class A Notes, (b) if no Class A Notes are Outstanding, the Outstanding Class B Notes and (c) if no Class B Notes are Outstanding, the Outstanding Class C Notes.

  • Controlling Class Representative shall have the meaning assigned to the term “Directing Certificateholder” in the Lead Securitization Servicing Agreement.

  • participating class means a class of shares title to which is permitted by an Operator to be transferred by means of a relevant system;

  • Existing Class means any Existing Term Loan Class and any Existing Revolving Credit Class.

  • Required Subordinated Percentage of Class D Notes means, for the Class A( - ) Notes, [ ]%, subject to adjustment in accordance with Section 2.02.

  • Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

  • Lead Securitization Subordinate Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

  • Non-Participating Class Member means any Class Member who opts out of the Settlement by sending the Administrator a valid and timely Request for Exclusion.

  • Required Subordinated Amount of Class D Notes means, for the Class C( - ) Notes for any date of determination, an amount equal to the sum of

  • Required Subordinated Percentage of Class C Notes means, for the Class A( - ) Notes, [ ]%, subject to adjustment in accordance with Section 2.02.

  • Participating Class Members means all Class Members who do not submit valid

  • Initial Class Certificate Balance As to each Class of Certificates, the Class Certificate Balance set forth in the Preliminary Statement.

  • Voting Classes means Classes 4 and 5.

  • Class E Noteholder means the Person in whose name a Class E Note is registered on the Note Register.

  • Subordinated Class means, with respect to the Class A Notes, the Class B Notes.

  • Participating Class Member means a Class Member who does not submit a valid and timely Request for Exclusion from the Settlement.

  • Required Subordinated Percentage of Class B Notes means, for the Class A( - ) Notes, [ ]%, subject to adjustment in accordance with Section 2.02.

  • Class E Note Balance means, at any time, the Initial Class E Note Balance reduced by all payments of principal made prior to such time on the Class E Notes.

  • Class Certificate Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Required Subordinated Amount of Class C Notes means, for the Class A( - ) Notes for any date of determination, an amount equal to the product of

  • Note Balance means, with respect to any date of determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing.

  • Initial Class D Note Balance means $13,564,000.

  • Class D Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of the Class D Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class D Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that was actually paid to Noteholders of Class D Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class D Notes on the preceding Payment Date, to the extent permitted by law, at the Class D Interest Rate for the related Interest Period.

  • Noteholders' Principal Carryover Shortfall means, with respect to any Distribution Date, the excess, if any, of the Noteholders’ Principal Distributable Amount for the preceding Distribution Date over the amount in respect of principal that is actually paid as principal on the Notes on such previous Distribution Date. Noteholders’ Principal Carryover Shortfall is not used to determine the amount of principal due on the Notes on any Distribution Date, but is used solely for reporting purposes.