Examples of Note A Holders in a sentence
Each of the Note A Holders represents and warrants that it is duly organized, validly existing, in good standing and possession of all licenses and authorizations necessary to carry on its respective business.
Each of the Note A Holders represents and warrants that the execution, delivery and performance of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene such Noteholder’s charter or any law or contractual restriction binding upon such Noteholder and that this Agreement is the legal, valid and binding obligation of such Noteholder as applicable enforceable against it in accordance with its terms.
Subject to the terms of this Agreement, each Subordinate Noteholder shall be subrogated to the Note A Holders’ respective rights to any payment owing to such Note A Holders for which such Subordinate Noteholder makes a cure payment as permitted under this Section 11, but such subrogation rights may not be exercised against the Mortgage Loan Borrower until ninety-one (91) days after the Note is paid in full.
Neither the Note A Holders nor any Servicer acting on its behalf shall have any liability to the Note B Holder with respect to a B Note, except with respect to losses actually suffered due to the negligence, willful misconduct or breach of this Agreement on the part of such Note A Holder or the Servicer.
Each Initial Note B Holder assumes all risk of loss in connection its related B Note, for reasons other than the gross negligence, willful misconduct or breach of this Agreement by the Initial Note A Holders or the gross negligence, willful misconduct or bad faith by any Servicer.
The B Notes and the rights of the Note B Holders to receive payments of interest, principal and other amounts with respect to such B Note shall at all times be junior, subject and subordinate to each A Note and the right of the Note A Holders to receive payments of interest, principal and other amounts with respect to each Note A as set forth herein.
Each of the Note A Holders acknowledges that no other Noteholder owes such Noteholder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents and, except as provided herein or in the Servicing Agreement, need not consult with such Noteholder with respect to any action taken by such Noteholder in connection with the Mortgage Loan.
This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B Holders, or a loan from the Note B Holders to the Note A Holders.
Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the arrangement between the Note A Holders and the Note B Holders a partnership, association, joint venture or other entity.
The Subordinate Notes and the rights of the Subordinate Noteholders to receive payments of interest, principal and other amounts with respect to such Subordinate Notes shall at all times be junior, subject and subordinate to the A Notes and the Note A Holders to receive payments of interest, principal and other amounts with respect to such A Notes as set forth herein.