Controlling Class Holder definition

Controlling Class Holder. The holder of a majority of the most subordinate of the Subordinate Certificates then outstanding. Cooperative: A corporation that has been formed for the purpose of cooperative apartment ownership. Cooperative Assets: Shares issued by Cooperatives, the related Cooperative Lease and any other collateral securing the Cooperative Loans.
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Controlling Class Holder. The majority holder of the most junior class of the Subordinate Certificates. For these purposes, the most junior class of the Subordinate Certificates will be the Class B-6 Certificates, followed (in this order) by the Class B-5, Class B-4, Class B-3, Class B-2 and Class B-1 Certificates.
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Controlling Class Holder. The Holder of the Class of Certificates with the lowest payment priority that is outstanding at any time with respect to the related Loan Group.
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Examples of Controlling Class Holder in a sentence

  • To the extent that the Sub-Servicer has received written notice from the Master Servicer, that a Person is an Excluded Controlling Class Holder with respect to an Excluded Controlling Class Mortgage Loan, the Sub-Servicer shall not provide to such Excluded Controlling Class Holder any Excluded Information with respect to such Excluded Controlling Class Mortgage Loan.

  • In connection with any such purchase by the Controlling Class Holder pursuant to the preceding paragraph, the Controlling Class Holder shall pay to the Master Servicer for deposit in the Master Servicer Collection Account the Termination Price on the Business Day preceding the Termination Date.

  • The first Distribution Date on which the Controlling Class Holder may opt to terminate the Trust Fund pursuant to Section 10.01.

  • Any acquisition of a Derivative Contract shall be accompanied by (i) an appropriate amendment to this Agreement, (ii) an Opinion of Counsel, (iii) Written confirmation by each of the Rating Agencies that the Derivative Contract will not result in the downgrade, withdrawal or suspension of the rating on any certificate and (iv) the consent of Controlling Class Holder to the acquisition of such Derivative Contract.

  • The notice to be delivered by the Master Servicer to the related Servicer and the Controlling Class Holder (pursuant to the related Servicing Agreement), stating that it has received notice from the Investor that (i) all of the Classes of Subordinate Certificates are no longer held by the Investor or an Affiliate of the Investor or (ii) the Investor has forfeited its rights set forth in the related Servicing Agreement.

  • The related Servicer will not commence foreclosure proceedings with respect to a Mortgage Loan unless (i) no later than five Business Days prior to such commencement, it notifies the Master Servicer of its intention to do so, and (ii) Controlling Class Holder, either directly or through the Master Servicer, does not, within such period, affirmatively object to such action.

  • Notwithstanding anything in this Agreement to the contrary, the Controlling Class Holder shall not be entitled to any of its rights described in this Section 3.21 with respect to a Mortgage Loan following its failure to purchase such Mortgage Loan (at the price set forth above) during the time frame set forth in the related Servicing Agreement following its objection to the related Servicer action.

  • The Controlling Class Holder will, no later than 5 days after the expiration of such 30-day period, purchase such Mortgage Loan in amount equal to the lesser of (i) the unpaid principal balance of the Mortgage Loan and (ii) the average of the three Fair Value Prices and remit such amount to the Securities Administrator for deposit in the Distribution Account.

  • The related Servicer is not permitted to proceed with any such action unless the Controlling Class Holder, either directly or through the Master Servicer, does not, within three or five Business Days following such notice, as stated in the related Servicing Agreement, affirmatively objects to the related Servicer taking such action.

Related to Controlling Class Holder

  • 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 Certificateholder Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Administrator from time to time.

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

  • Controlling Noteholder means as of any date of determination the holder or holders of a majority of the Lead Securitization Note. At any time the Lead Securitization Note is the Controlling Noteholder and is included in the Lead Securitization, references to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling class” (or such lesser amount as permitted under the terms of the Servicing Agreement) or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement.

  • Lead Securitization Controlling Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement.

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

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

  • Non-Controlling Noteholder means each Noteholder other than the Controlling Noteholder; provided that, if at any time a Non-Controlling Note (or, at any time a Non-Lead Securitization Note is included in a Securitization, the Non-Lead Securitization Subordinate Class Representative) is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, no Person shall be entitled to exercise the rights of such Non-Controlling Noteholder with respect to such Non-Controlling Note.

  • 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.

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

  • 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.

  • Holder or Certificateholder The registered owner of any Certificate as recorded on the books of the Certificate Registrar except that, solely for the purposes of taking any action or giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Trustee, the Master Servicer, any Servicer or any Affiliate thereof shall be deemed not to be outstanding in determining whether the requisite percentage necessary to effect any such consent has been obtained, except that, in determining whether the Trustee shall be protected in relying upon any such consent, only Certificates which a Responsible Officer of the Trustee knows to be so owned shall be disregarded. The Trustee may request and conclusively rely on certifications by the Depositor, the Master Servicer and any Servicer in determining whether any Certificates are registered to an Affiliate of the Depositor, the Master Servicer or such Servicer.

  • Investor Certificateholder means the holder of record of an Investor Certificate.

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

  • Controlling Noteholder Representative shall have the meaning assigned to such term in Section 6(a).

  • Voting Classes means Classes 4 and 5.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Majority Certificateholder means the Holder of the greatest percentage ownership interest in the Certificate as recorded in the Certificate Register.

  • Companion Loan Holder The holder of a Companion Loan.

  • Majority in Interest of Noteholders means, as of a particular date of determination and subject to Section 2.16 of the Indenture, the holders of at least a majority in aggregate unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment Notes held by the Company or any Affiliate thereof, it being understood that a Pass Through Trustee shall be considered an Affiliate of the Company as long as more than 50% in the aggregate face amount of Pass Through Certificates issued by the corresponding Pass Through Trust are held by the Company or an Affiliate of the Company or a Pass Through Trustee is otherwise under the control of the Company or such Affiliate of the Company (unless all Equipment Notes then outstanding are held by the Company or any Affiliate thereof, including the Pass Through Trustees which are considered Affiliates of the Company pursuant hereto)); provided that for the purposes of directing any action or casting any vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the principal amount of such Equipment Note or Equipment Notes in favor of or in opposition to any such action, vote, consent, waiver or instruction.

  • Instituting Noteholders has the meaning set forth in Section 7.6(a) of the Indenture.

  • Junior Certificateholder The Holder of not less than 95% of the Percentage Interests of the Junior Class of Certificates.

  • Requesting Noteholders shall have the meaning ascribed thereto in Section 12.01 of the Indenture.

  • Class D Certificateholder means the Person in whose name a Class D Certificate is registered in the Certificate Register.

  • Non-Lead Noteholder means any Noteholder other than the Lead Securitization Noteholder.