Directing Class definition

Directing Class. As defined in Section 3.27.
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Directing Class. Certificateholders representing 100% of the Percentage Interests of the most subordinate Class of Certificates then outstanding, provided that the then current Certificate Principal Amount of such Class is equal to at least 20% of its Certificate Principal Amount as of the Closing Date.
Sample 1

Examples of Directing Class in a sentence

  • For the purposes of determining the Percentage Interest of the Directing Class, the Certificates held by any Certificateholder that holds, or whose Affiliate is, also the lender of any debt of any Affiliate of the Borrowers that is related to the Mortgage Loan that is the subject of such consent, shall not be taken into consideration.

  • The Servicer shall deliver to the Trustee and to the Directing Class Certificateholder a copy of the notice of such Servicing Transfer Event provided by the Servicer to the Special Servicer pursuant to this Section.

  • The list of Class Members will remain the confidential property of the Defendants, will be subject to the protective order entered by the Court, and all copies or versions will be returned to the Defendants within forty-five (45) days after Final Approval or within ten days after the entry of the Order Directing Class Distribution, whichever is later.

  • For the purposes of determining the Percentage Interest of the Directing Class, the Certificates held by any Certificateholder that holds, or whose Affiliate is a lender under, an Affiliate Loan that is related to the Mortgage Loan that is the subject of such consent shall not be taken into consideration.

Related to Directing Class

  • 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.

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

  • Voting Classes means Classes 4 and 5.

  • 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.

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

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

  • Corresponding Class The class of interests in the Lower-Tier REMIC or Upper-Tier REMIC that corresponds to the class of interests in the other such REMIC or to a Class of Certificates in the manner set out below: Corresponding Corresponding Upper-Tier Corresponding Lower-Tier Class Designation Regular Interest Class of Certificates ---------------------------- ---------------- --------------------- Class LT-A-1 Class A-1 Class A-1 Class LT-A-2a Class A-2a Class A-2a Class LT-A-2b Class A-2b Class A-2b Class LT-A-2c Class A-2c Class A-2c Class LT-A-2d Class A-2d Class A-2d Class LT-M-1 Class M-1 Class M-1 Class LT-M-2 Class M-2 Class M-2 Class LT-M-3 Class M-3 Class M-3 Class LT-M-4 Class M-4 Class M-4 Class LT-M-5 Class M-5 Class M-5 Class LT-M-6 Class M-6 Class M-6 Class LT-B-1 Class B-1 Class B-1 Class LT-B-2 Class B-2 Class B-2 Class LT-B-3 Class B-3 Class B-3 N/A Class X Class X

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

  • 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.

  • Majority Noteholders means the Holders of a majority by principal amount of the most senior then outstanding class of Notes.

  • Directing Certificateholder means the “Controlling Class Certificateholder” or other analogous term as defined in the Lead Securitization Servicing Agreement.

  • 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.

  • 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

  • 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.

  • 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.

  • Subordinated Class means (a) with respect to the Class A Notes, the Class B Notes and the Class C Notes and (b) with respect to the Class B Notes, the Class C Notes.

  • Corresponding Classes of Certificates With respect to each REMIC Regular Interest, any Class of Certificates appearing opposite such REMIC Regular Interest in Section 1.03 hereof.

  • Outstanding Notes shall have the meaning set forth in Section 7.9(ii).

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

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

  • Majority Certificateholders The Holders of Certificates evidencing at least 51% of the Voting Rights.

  • Initial Class D Note Balance means $142,370,000.

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

  • 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.