Non-Lead Note Holder definition

Non-Lead Note Holder means the holder of the Non-Lead Note.
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Non-Lead Note Holder means the holder of any Non-Lead Note (other than any Non-Lead Note that is included in the Lead Securitization).
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Non-Lead Note Holder herein shall mean the Non-Lead Securitization Controlling Class Representative under the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in such Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) has been given written notice; provided, further that if at any time 50% or more of any Non-Lead Note (or 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 class” under the related Non-Lead Securitization Servicing Agreement) is held by a Borrower Affiliate, no such Note Holder or other Person shall be entitled to exercise any rights of such Non-Lead Note Holder under this Agreement or the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party exercising the rights of a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing Agreement and, to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than one party, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement shall designate one party to deal with the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received written notice as having been designated as the Non-Lead Note Holder with respect to such Non-Lead Note Holder for all purposes of this Agreement. Prior to Securitization of any Non-Lead Note (including any New Notes), all notices, reports, information or other deliverables required to be delivered to the related Non-Lead Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization Note ...
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Examples of Non-Lead Note Holder in a sentence

  • If more than one New Note is created hereunder, for purposes of exercising the rights of a Non-Lead Note Holder hereunder, the “Non-Lead Note Holder” of such New Notes shall be as provided in the definition of such term in this Agreement.

  • Subject to the terms of the Lead Securitization Servicing Agreement, each Non-Lead Note Holder (or the related Non-Lead Note Holder Representative) shall be permitted to submit an offer at any sale of the Mortgage Loan unless such Person is a Borrower Affiliate.

  • The authority of the Lead Securitization Note Holder to sell any Non-Lead Note, and the obligations of each Non-Lead Note Holder to execute and deliver instruments or deliver the related Non-Lead Note upon request of the Lead Securitization Note Holder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization is terminated in accordance with its terms.

  • Each Non-Lead Note Holder hereby appoints the Lead Securitization Note Holder as its agent, and grants to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting offers for and consummating the sale of the related Non-Lead Note.

  • Each Note Holder further agrees that only the Lead Securitization Note Holder, and not any Non-Lead Note Holder, can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding.

  • The Note Holders hereby agree that, upon the request of the Lead Securitization Note Holder, each Non-Lead Note Holder shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant.

  • Upon the Mortgage Loan becoming a Defaulted Loan, each Non-Lead Note Holder hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) to sell the Non-Lead Notes together with the Lead Securitization Notes as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement.

  • The applicable Non-Lead Note Holder shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Collection Account or Companion Loan Distribution Account.

Related to Non-Lead Note Holder

  • Non-Lead Note means each Note other than the Lead Securitization Note.

  • Controlling Note Holder herein shall mean the holders of the majority of the class of securities issued in such Securitization designated as the “controlling class” or any other party that is assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related Securitization Servicing Agreement; provided that for so long as 50% or more of the Controlling Note is held by (or the party assigned the rights to exercise the rights of the “Controlling Note Holder” (as described above) is) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, the Controlling Note (and such party assigned the rights to exercise the rights of the “Controlling Note Holder” as described above) shall not be entitled to exercise any rights of the Controlling Note Holder, and there shall be deemed to be no Controlling Note Holder hereunder. If the Controlling Note is included in a Securitization, the related Securitization Servicing Agreement may contain additional limitations on the rights of the designated party entitled to exercise the rights of the “Controlling Note Holder” hereunder if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage Loan Borrower.

  • Note Holder means with regards to any Note, the Initial Note Holder or any subsequent holder of such Note, as applicable.

  • Lead Securitization Note Holder means the holder of the Lead Securitization Note.

  • Non-Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(c).

  • Non-Lead Depositor means the “depositor” under any Non-Lead Securitization Servicing Agreement.

  • Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(a).

  • 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.

  • Initial Note Holders shall have the meaning assigned to such term in the preamble to this Agreement.