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;
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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

  • 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 holders of the Most Senior Class may, by Extraordinary Resolution, remove all trustees (but not some only) for the time being of these presents and the Deed of Charge.

  • The Issuer undertakes that, in the event of the only trustee of these presents which is a Trust Corporation (disregarding for this purpose any separate or co-trustee appointed under Clause 28 (Separate and Co-Trustees)) giving notice under this Clause 29 or being removed by Extraordinary Resolution of the holders of the Most Senior Class, it will use its best endeavours to procure that a new trustee of these presents being a Trust Corporation is appointed as soon as reasonably practicable thereafter.

  • COPY The power to appoint a new trustee of these presents shall, subject as hereinafter provided, be vested in the Issuer but no person shall be appointed who shall not previously have been approved by an Extraordinary Resolution of the holders of the Most Senior Class.

  • The Note Trustee and/or Security Trustee shall not exercise any powers conferred on it by this Clause 21 in contravention of any express direction given by Extraordinary Resolution of the holders of the Most Senior Class or by a direction under Condition 11 (Events of Default) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made.


More Definitions of Most Senior Class

Most Senior Class. . . . . . . . . . . . . . . . means (i) so long as any Class A-1 Bond or Class A-2
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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, 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;
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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 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. 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 whilst any of them remains outstanding and thereafter the Class B Notes whilst any of them remains outstanding and thereafter the Class C Notes whilst any of them remains outstanding and thereafter the Class D Notes.
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