Non-Lead Securitization definition

Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

Non-Lead Securitization means any Securitization other than the Lead Securitization.

Non-Lead Securitization means the first sale by a Non-Lead Securitization Note Holder of all or a portion of such Non-Lead Securitization Note to a depositor who will in turn include such portion of such Non-Lead Securitization Note as part of the securitization of one or more mortgage loans.

Examples of Non-Lead Securitization in a sentence

• Such Non-Lead Securitization Note Holder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

• The Note Holders hereby agree that, upon the request of the Lead Securitization Note Holder, each Non-Lead Securitization 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.

• The Lead Securitization Note Holder shall have the right to offset any amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead Securitization Note Holder under the Mortgage Loan.

• Each Note Holder further agrees that only the Lead Securitization Note Holder, and not any Non-Lead Securitization 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 Lead Securitization Note Holder shall not be obligated to make any payment hereunder with respect to any Non-Lead Securitization Note or otherwise until the holder of such Note shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

More Definitions of Non-Lead Securitization

Non-Lead Securitization means any Securitization of a Non-Lead Securitization Note.

Non-Lead Securitization means, at any time, each Securitization that is not then the Lead Securitization.

Non-Lead Securitization means, (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization and (ii) prior to the Note A-1 Securitization Date, any Securitization other than the First Securitization.

Non-Lead Securitization means the sale of all or a portion of any Non-Standalone Note to a depositor, who will in turn include such Note as part of the related Non-Lead Securitization of one or more other mortgage loans.

Non-Lead Securitization means the Securitization of Note A-2 in a Securitization Trust to be designated by the Initial Note A-2 Holder.

Non-Lead Securitization means the Note A-2 Securitization; provided that, if the Note A-2 Securitization occurs prior to the Note A-1 Securitization, then the Note A-2 Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs, at which time the Note A-2 Securitization shall be the Non-Lead Securitization.

Non-Lead Securitization means the Note A-2 Securitization.