Note Majority definition

Note Majority means a majority by principal amount of the Noteholders.

Note Majority means the Holders collectively evidencing more than 50% of the aggregate outstanding Note Balance for each Class of Notes.

Note Majority. As to each class of Notes, Holders of Notes representing a majority of the outstanding principal balance of such class of Notes.

Examples of Note Majority in a sentence

• The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Seller under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the Note Majority and the Certificateholder.

• So long as no Insurer Default shall have occurred and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing, the Note Majority) may, on behalf of all Noteholders, waive any default by the Servicer in the performance of its obligations hereunder and its consequences.

• Notwithstanding the above, if the Backup Servicer shall be legally unable or unwilling to act as Servicer, and an Insurer Default shall have occurred and be continuing, the Backup Servicer, the Trust Collateral Agent or a Note Majority may petition a court of competent jurisdiction to appoint any Eligible Servicer as the successor to the Servicer.

• The Trustee may be removed by the Note Insurer (or, if an Insurer Default has occurred and is continuing, by a Note Majority) at any time, with or without cause, by an instrument or concurrent instruments in writing delivered to the Trustee, the other Issuer Secured Party and the Issuer.

• Except where this Indenture specifically states otherwise, the Trustee, provided it has sent out notices in accordance with this Indenture, may act as directed by a Note Majority responding in writing to such request for amendment or written direction, provided however, that a Note Majority as of the time such voting response is due back to the Trustee must have responded in writing to the Trustee's notice to amend or for written direction.

More Definitions of Note Majority

Note Majority means the Holders collectively evidencing more than 50% of the aggregate outstanding Note Balance for each Class of Notes. “Note Paying Agent” has the meaning assigned to such term in the Indenture.

Note Majority. With respect to Agented Notes, the holders of the notes evidencing not less than 66 2/3% of the outstanding amount of all such notes issued by the Obligor.

Note Majority means Holders of Outstanding Notes representing more than 50% of the Note Balance of Outstanding Notes.

Note Majority means Holders representing a majority of the Outstanding Principal Amount of each Class of the Notes then Outstanding.

Note Majority means, as to each Class of Notes, Holders of Notes representing a majority of the Class Principal Balance of such Class, provided that with respect to the Class A Notes, Note Majority means the Note Insurer if there is at the time of determination no continuing Note Insurer Default.

Note Majority means the Holders evidencing more than 50% of the Class A-1 Note Balance and Holders evidencing more than 50% of the Class A-2 Note Balance.

Note Majority means a majority by aggregate outstanding principal balance of the Noteholders so long as the Notes are outstanding.