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;

Most Senior Class has the same meaning as in the Trust Deed;

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.

Examples of Most Senior Class in a sentence

• 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.

• The power of appointing a new director of the Security Trustee shall be vested in the board of directors of the Security Trustee, but 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.

• The holders of the Most Senior Class of Notes then outstanding shall together have the power, exercisable by Extraordinary Resolution to remove any director of the Security Trustee.

• However, the Noteholders of the Most Senior Class shall have the power, exercisable only by an Extraordinary Resolution, to remove the Security Trustee Director as director of the Security Trustee.

• The Security Trustee shall not exercise any powers conferred upon it by Condition 16.2 (Waiver) in contravention of any express direction by an Extraordinary Resolution of the holders of the Most Senior Class of Notes or of a request or direction in writing made by the holders of not less than 25 per cent.

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.

Most Senior Class. . . . . . . . . . . . . . . . means (i) so long as any Class A-1 Bond or Class A-2

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.

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.

Most Senior Class means Class A Notes or, if there are no Class A Notes then outstanding, the Class Z Notes or, if there are no Class A Notes or Class Z Notes then outstanding, the Class X Notes.

Most Senior Class means the Class A Notes or, if there are no Class A Notes then outstanding, the Class B Notes or, if there are no Class A Notes or Class B Notes then outstanding, the Class C Notes or, if there are no Class A Notes, Class B Notes or Class C Notes then outstanding, the Class D Notes or, if there are no Class A Notes, Class B Notes or Class C Notes or Class D Notes then outstanding, the Class Z Notes or, if there are no Class A Notes, Class B Notes, Class C Notes, Class D Notes or Class Z Notes then outstanding, the Class S Notes, or, if there are no Class A Notes, Class B Notes, Class C Notes, Class D Notes, Class Z Notes or Class S Notes then outstanding, the Class S VFN or, if there are no Class A Notes, Class B Notes, Class C Notes, Class D Notes, Class Z Notes, Class S Notes or Class S VFN then outstanding, prior to the Step-Up Date, the RC1 Residual Certificates and, on and following the Step-Up Date, the RC2 Residual Certificates.

Most Senior Class means, in respect of the Notes, the Class A Notes or, if there are no Class A Notes then outstanding, the Class Z Notes or, if there are no Class A or Class Z Notes then outstanding, the Class X Notes; Non-DD CMF 2023-1 Collection Account means the account held in the name of CCFS with the Collection Account Bank into which amounts received in respect of certain of the Loans arising by way of non-Direct Debit payments from the Borrowers shall be paid.