Most Senior Class definition

Most Senior Class means, the Class A Notes whilst they remain outstanding and thereafter the Class B Notes whilst they remain outstanding and thereafter the Class C Notes whilst they remain outstanding and thereafter the Class D Notes;
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Most Senior Class has the same meaning as in the Trust Deed;
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Most Senior Class has the meaning ascribed thereto in the Conditions for so long as the Notes remain outstanding, or, after the Notes have been redeemed in full, the Residual Certificates Conditions.
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Examples of Most Senior Class in a sentence

  • In exercising its discretion as to whether or not to give an Enforcement Notice to the Issuer in respect of the Most Senior Class of Notes, the Security Trustee shall not be required to have regard to the interests of the holders of any Class of Notes ranking junior to the Most Senior Class of Notes.

  • However, there is no assurance that these subordination provisions will protect the holders of the more senior classes of Notes (including the Most Senior Class of Notes) from all or any risk of loss.

  • Interest Deferral Interest due and payable on the Most Senior Class of Notes will notbe deferred.

  • If there is a conflict of interest between any Classes of Noteholders, the Security Trustee shall have regard only to the interests of the holders of the Most Senior Class of Notes.

  • The Security Trustee Management Agreement provides that no person shall be appointed who shall not previously have been approved by an Extraordinary Resolution of the holders of the Most Senior Class of Notes then outstanding in accordance with the Trust Deed.


More Definitions of Most Senior Class

Most Senior Class. The Class A Notes, or after the Class A Notes have been paid in full, the Class of Subordinate Notes then outstanding with the lowest numerical designation.
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Most Senior Class. . . . . . . . . . . . . . . . means (i) so long as any Class A-1 Bond or Class A-2
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Most Senior Class means the Class A Bonds for so long as there are any Class A Bonds outstanding and thereafter the Class B Bonds for so long as there are any Class B Bonds outstanding and thereafter the Subordinated Bonds for so long as there are any Subordinated Bonds outstanding.
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Most Senior Class. The Class A Bonds or after the Class A Bonds have been paid in full, the Class of Mezzanine Bonds then Outstanding with the lowest numerical designation.
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Most Senior Class means the Class A Notes or, if there are no Class A Notes then outstanding, the Class B Notes then outstanding or, if there are no Class A Notes or Class B Notes then outstanding, the Class C Notes then outstanding.
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Most Senior Class means, the Class A Notes whilst they remain outstanding and thereafter the Class B Notes whilst they remain outstanding and thereafter the Class C Notes. In the event that any proposed action or inaction affects a particular Sub-Class of Notes, this term shall mean the Sub-Class of Notes with the greatest principal amount outstanding of the Most Senior Class of Notes;
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Most Senior Class means the Class A Notes whilst they remain outstanding and thereafter the Class Z Notes whilst they remain outstanding and thereafter the Subordinated Loan and Servicer Advance Facility pro rata and pari passu for as long as any amounts under the Subordinated Loan and Servicer Advance Facility remain outstanding; and thereafter the Class X Notes whilst they remain outstanding;
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