Majority Subordinate Certificateholder definition

Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates (other than any Holder which is an Affiliate of the Depositor or a Mortgage Loan Seller) entitled to greater than 50% of the Voting Rights allocated to the Controlling Class; provided, however, that if there is no single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1 Certificates and the Class A-2 Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to the Controlling Class; provided, however, that if there is no single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1 Certificates and the Class A-2 Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to the Class of outstanding Regular Certificates (other than the Class IO Certificates) with the latest alphabetical Class designation; provided, however, that if there is no Holder of Certificates entitled to greater than 50% of the Voting Rights of such Class, the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1, Class A-2 and Class A-3 Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.

Examples of Majority Subordinate Certificateholder in a sentence

  • Such continuing right of the Majority Subordinate Certificateholder shall be exercisable in its sole discretion and at any time and from time to time, subject to subsection (b) below.

  • Upon discovery by any party hereto of a breach of any such representations and warranties that materially and adversely affects the interests of the Certificateholders or any party hereto, the party discovering such breach shall give prompt written notice thereof to the other parties hereto, the Majority Subordinate Certificateholder and the Subordinate Class Representative.

  • In no event shall the failure of the Subordinate Class Representative or the Majority Subordinate Certificateholder to provide such notice prejudice or call into question the effectiveness of such resignation.

  • Following any such Transfer the successor Majority Subordinate Certificateholder shall again have the rights of the Majority Subordinate Certificateholder as set forth herein (including the rights to appoint a Subordinate Class Representative or cause the exercise of the rights of the Subordinate Class Representative) without regard to any prior waiver by the predecessor Majority Subordinate Certificateholder.

  • The successor Majority Subordinate Certificateholder shall also have the right as provided in this Section 3.23(i) to irrevocably waive its rights to appoint a Subordinate Class Representative and to exercise any of the rights of the Majority Subordinate Certificateholder or to cause the exercise of the rights of the Subordinate Class Representative as set forth in this Agreement.

  • No successor Majority Subordinate Certificateholder described above shall have any consent rights with respect to any Mortgage Loan that became a Specially Serviced Mortgage Loan prior to the Transfer and had not also become a Corrected Mortgage Loan prior to such Transfer until such time as such Mortgage Loan becomes a Corrected Mortgage Loan.

  • Subject to the foregoing, each of the Majority Subordinate Certificateholder, the Subordinate Class Representative (during any Subordinate Control Period), any related Serviced Pari Passu Companion Loan Holder or a representative thereof shall be permitted to bid at any sale of the Mortgage Loan.

  • The Special Servicer, subject to the limitations on delivery of Privileged Communications, shall deliver to the Trust Advisor such reports and other information produced or otherwise available to the Majority Subordinate Certificateholder, or Certificateholders generally, requested by the Trust Advisor in support of its obligations under this Agreement.

  • Any such determination requiring the resignation of that Master Servicer or that Special Servicer shall be evidenced by an Opinion of Counsel to such effect which shall be delivered to the Trustee, with a copy to the Certificate Administrator, the Subordinate Class Representative and the Majority Subordinate Certificateholder (and each affected Serviced Pari Passu Companion Loan Holder).

  • Upon the Trustee’s discovery or receipt of notice that a Document Defect or Breach exists with respect to any Mortgage Loan, the Trustee shall notify the Subordinate Class Representative, the Majority Subordinate Certificateholder, the Depositor, the Certificate Administrator, the Custodian, the applicable Master Servicer, the applicable Special Servicer, the related Responsible Repurchase Party and the Rating Agencies.


More Definitions of Majority Subordinate Certificateholder

Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates (or, if the Controlling Class consists of Book-Entry Certificates, Certificate Owner) (other than any Holder (or Certificate Owner, as the case may be) which is an Affiliate of the Depositor or a Mortgage Loan Seller) entitled to greater than 50% of the Voting Rights allocated to the Controlling Class; provided, however, that if there is no single Holder of Certificates (or Certificate Owner) entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates (or Certificate Owner) with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates and Class A-1A Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates (or Certificate Owners) of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates (other than any Holder which is an Affiliate of the Depositor or the Mortgage Loan Seller) entitled to greater than 50% of the Voting Rights allocated to the Controlling Class; provided, however, that, if there is no single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3SF Certificates, the Class A-4 Certificates, the Class A-5 Certificates, the Class A-6A Certificates, the Class A-6B Certificates, the Class A-PB Certificates, the Class A-7 Certificates and the Class A-1A Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination. With respect to determining the Majority Subordinate Certificateholder, the Class A-MFL Certificates and the Class A-MFX Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of the Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.
Majority Subordinate Certificateholder as defined in the 2004-C15 Pooling and Servicing Agreement.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates entitled to more than 50% of the Voting Rights allocated to the Controlling Class.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to the Class of Sequential Pay Certificates with the latest alphabetical Class designation then outstanding; provided, however, that if there is no single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class. With respect to determining the Majority Subordinate Certificateholder, the Class A-1 and Class A-2 Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.
Majority Subordinate Certificateholder. As of any date of determination, any single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to the Class of outstanding REMIC II Regular Certificates (other than the Class IO-1 and Class IO-2 Certificates) with the latest alphabetical Class designation. With respect to determining the Majority Subordinate Certificateholder, the Class A-1, Class A-2 and Class A-3 Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates.

Related to Majority Subordinate Certificateholder

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

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

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • 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.

  • 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.

  • Class A Certificateholder The registered holder of a Class A Certificate.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

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

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • 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.

  • Class D Certificateholder Has the meaning specified in Section 4.01(b)(iv) of this Trust Supplement.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Applicable Certificateholder Means the Person in whose name an Applicable Certificate is registered on the Register for the Applicable Certificates.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • 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.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

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

  • REMIC III Certificateholder The Holder of any REMIC III Certificate.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Class R Certificateholder The registered Holder of the Class R Certificate.

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

  • Offered Subordinate Certificates As specified in the Preliminary Statement.

  • Unaffiliated Certificateholder Any Certificateholder other than the Depositor or an Affiliate of the Depositor.

  • Lead Securitization Directing Certificateholder means the “Directing Certificateholder” as defined in the Lead Securitization Servicing Agreement.