Majority Residual Interestholders definition
Examples of Majority Residual Interestholders in a sentence
Except as expressly provided herein, any written notice of the Owners delivered pursuant to this Agreement shall be effective if signed by the Majority Residual Interestholders at the time of the delivery of such notice.
Except as expressly provided herein, any action that may be taken by the Owners under this Agreement may be taken by the Majority Residual Interestholders.
The expense of any Independent appraiser required under this Section 11.02 shall be a nonreimbursable expense of Majority Residual Interestholders.
Any such early termination by the Majority Residual Interestholders, the Securities Insurer or the Master Servicer, as applicable, shall be accomplished by depositing into the Collection Account on the third Business Day prior to the Payment Date on which the purchase is to occur the amount of the Termination Price to be paid.
The expense of any Independent appraiser required under this Section 11.02 shall be a nonreimbursable expense of Majority Residual Interestholders, the Securities Insurer or the Master Servicer, as applicable.
Any such early termination by the Majority Residual Interestholders shall be accomplished by depositing into the Collection Account on the third Business Day prior to the Payment Date on which the purchase is to occur the amount of the Termination Price to be paid.
On or after any Payment Date on which the Pool Principal Balance declines to 10% or less of the Original Pool Principal Balance, then the Majority Residual Interestholders may, at their option, effect an early termination of the Issuer.
The Majority Residual Interestholders shall effect such early termination by providing notice thereof to the Indenture Trustee, the Grantor Trustee and Owner Trustee and by purchasing all of the Home Loans from the Grantor Trustee at a purchase price, payable in cash, equal to or greater than the Termination Price.
The Majority Residual Interestholders, the Securities Insurer or the Master Servicer, as applicable, shall effect such early termination by providing prior notice thereof to the Servicer, the Indenture Trustee, the Master Servicer, the Securities Insurer and Owner Trustee and by purchasing all of the Home Loans from the Issuer at a purchase price, payable in cash, equal to or greater than the Termination Price.
The Majority Residual Interestholders may, at their option, effect an early termination of the Issuer and the Grantor Trust on or after any Payment Date on which the Pool Principal Balance declines to 10% or less of the Maximum Collateral Amount.