Higher Ranking Class definition

Higher Ranking Class means, with respect to any Class of Notes, each Class of Notes specified as such in Section 2.3.
Sample 1Sample 2Sample 3
Higher Ranking Class means, with respect to any Class of Notes, each Class of Notes that is senior in right of payment of principal to such Class in the Note Payment Sequence.
Sample 1Sample 2
Higher Ranking Class. With respect to any Class of Debt, each Class of Debt that is senior in right of payment of principal to such Class in the Debt Payment Sequence.
Sample 1

Examples of Higher Ranking Class in a sentence

  • An Extraordinary Resolution shall not be effective for any purpose unless either: (i) the Security Trustee is of the opinion that it would not be materially prejudicial to the interests of Noteholders of any Higher Ranking Class or (ii) when it is approved by Extraordinary Resolutions of Noteholders of each such Higher Ranking Class.

  • A resolution of Noteholders of a Class or by Noteholders of one or more Class or Classes, as the case may be, shall not be effective for any purpose unless either: (i) the Security Trustee is of the opinion that it would not be materially prejudicial to the interests of Noteholders of any Higher Ranking Class or (ii) when it is approved by Extraordinary Resolutions of Noteholders of each such Higher Ranking Class.

  • If, in the sole opinion of the Security Trustee, there is a conflict of interest between any Classes of Noteholders, the Security Trustee shall have regard only to the interest of the Higher Ranking Class of Notes.

  • The Contractor shall not be responsible for failure to perform the duties and responsibilities imposed by the contract due to legal strikes, fires, civil disobedience, riots, rebellions, acts of God and similar occurrences beyond the control of the Contractor that made performance impossible or illegal.

  • The Class A Notes for so long as any Class A Notes are Outstanding, and thereafter the Class of Securities that does not have a Higher Ranking Class of Securities Outstanding at such time.

  • The Class A Notes for so long as any Class A Notes are Outstanding, and thereafter the Class of Notes (other than the Class X Notes) that does not have a Higher Ranking Class of Notes Outstanding at such time.

  • The Class A Notes for so long as any Class A Notes are Outstanding, and thereafter the Class of Notes that does not have a Higher Ranking Class of Notes Outstanding at such time.

  • Higher Ranking Class means, in relation to any Class of Notes, each Class of Notes which has not been previously redeemed or written off in full and which ranks higher in priority to it in the Pre-Enforcement Revenue Priority of Payments.

  • Higher Ranking Class means, in relation to any Class of Notes, each Class of Notes which has not been previously redeemed or written off in full and which ranks higher in priority to each Class of Notes in the Post-Enforcement and Condition 6(D), (E) and (F) Priority of Payments.

  • The Class A Notes, for so long as any Class A Notes are Outstanding, and thereafter the Class of Notes that does not have a Higher Ranking Class of Notes Outstanding at such time; provided that any Classes of Notes that rank pari passu will be considered together as a single Class for such purpose.


More Definitions of Higher Ranking Class

Higher Ranking Class. With respect to any Class of Notes, each Class of Notes that is senior in right of payment of principal to such Class in the Note Payment Sequence.
Sample 1

Related to Higher Ranking 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.

  • Class Principal 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.