Group II Controlling Noteholders definition

Group II Controlling Noteholders means the Group II Senior Noteholders, until such time as all Group II Senior Notes have been paid in full, and then the Class II-B Noteholders, until the Class II-B Notes have been paid in full, and then the Class II-C Noteholders, until the Class II-C Notes have been paid in full. Notwithstanding the foregoing, any Group II Notes owned by KBNA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
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Group II Controlling Noteholders means the [Group II] Senior Noteholders, until such time as all [Group II] Senior Notes have been paid in full, and then the [Class II-B] Noteholders, until the [Class II-B] Notes have been paid in full, and then the [Class II-C] Noteholders, until the [Class II-C] Notes have been paid in full. Notwithstanding the foregoing, any [Group II] Notes owned by KBNA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the [Group II] Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
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Group II Controlling Noteholders means the Group II Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
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Examples of Group II Controlling Noteholders in a sentence

  • If a sale of either the Group I or Group II Student Loans is not consummated in accordance with the foregoing, the Indenture Trustee may, (or shall, at the written direction of the Group I or Group II Controlling Noteholders, as applicable), solicit bids to purchase the Group I or Group II Student Loans, as the case may be, on future Distribution Dates upon terms similar to those described above.

  • Notwithstanding anything to the contrary contained in this Indenture, such rights of consent granted to the Holders of the Notes contained in clauses (i) through (viii) of this proviso shall not be exercisable by the [Group I] Controlling Noteholders on behalf of all of the [Group I] Noteholders or by the [Group II] Controlling Noteholders on behalf of all of the [Group II] Noteholders.


More Definitions of Group II Controlling Noteholders

Group II Controlling Noteholders means the Group II Senior Noteholders (until such time as all Group II Senior Notes have been paid in full, and then the Group II Subordinate Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable; provided that, unless a Securities Insurer Default has occurred and is continuing, the Securities Insurer shall exercise the rights of all holders of each Class Group II Notes for which payments are insured by the Securities Insurer; provided further that the Class II-[ ] Notes shall at all times be entitled to voting rights equal to 1% of the Group II Senior Notes.
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Group II Controlling Noteholders means the Group II Senior Noteholders (until such time as all Group II Senior Notes have been paid in full, and then the Group II Subordinate Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable; provided that, unless a Securities Insurer Default has occurred and is continuing, the Securities Insurer shall exercise the rights of all holders of each Class Group II Notes for which payments are insured by the Securities Insurer; provided further that the Class II-A-IO Notes shall at all times be entitled to voting rights equal to 1% of the Group II Senior Notes.
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Related to Group II Controlling Noteholders

  • 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 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.

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

  • 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.

  • Class A Noteholders means, collectively, the Class A-1 Noteholders, the Class A-2 Noteholders, the Class A-3 Noteholders and the Class A-4 Noteholders.

  • Class A-1 Noteholders Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class A-1 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-1 Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Holders of Class A-1 Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Holders of Class A-1 Notes on the preceding Payment Date, to the extent permitted by law, at the Class A-1 Interest Rate for the related Interest Period.

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

  • 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.

  • Class A-1 Noteholder means the Person in whose name a Class A-1 Note is registered on the Note Register.

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

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

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

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Class A-2 Noteholders means the Class A-2a Noteholders and the Class A-2b Noteholders.

  • A-2 Noteholders means the holders of record of the A-2 Notes.

  • Senior Noteholders means the holders of the Senior Notes.

  • Class B Noteholders Distribution Amount” means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Class B Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class B Percentage for that distribution date, plus any Class B Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class B Noteholders’ Principal Distribution Amount will not exceed the principal balance of the class B notes.In addition, on the class B maturity date, the principal required to be distributed to the class B noteholders will include the amount required to reduce the outstanding principal balance of the class B notes to zero.

  • Requisite Noteholders Holders of Notes evidencing not less than a majority of the Outstanding Amount of the Controlling Class.

  • Class A-2 Noteholder means the Person in whose name a Class A-2 Note is registered on the Note Register.

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

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

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