Portfolio Option Holder definition

Portfolio Option Holder means, a person other than a Paragon Banking Group Company being (a) (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) the person who holds greater than 50 per cent. of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the Residual Certificateholder who holds the beneficial interest in more than 50 per cent. of the RC2 Residual Certificates or (b) where (i) no person holds greater than 50 per cent. of the RC2 Residual Certificates or, as applicable, beneficial interest in more than 50 per cent. of the RC2 Residual Certificates and (ii) the Paragon Banking Group holds (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) less than 50 per cent. in number of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the beneficial interest in less than 50 per cent. in number of the RC2 Residual Certificates, the person who holds the greatest number of the RC2 Residual Certificates or, as applicable, the beneficial interest in the greatest number of the RC2 Residual Certificates. For the avoidance of doubt, where the Paragon Banking Group holds (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) 50 per cent. or more in number of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the beneficial interest in 50 per cent. or more in number of the RC2 Residual Certificates, the Portfolio Option shall not be exercisable by any party.
Sample 1Sample 2Sample 3
Portfolio Option Holder means, a person other than a Paragon Banking Group Company (a) (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) the person who holds greater than 50 per cent. of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the Residual Certificateholder who holds the beneficial interest in more than 50 per cent. of the RC2 Residual Certificates or (b) where (i) no person holds greater than 50 per cent. of the RC2 Residual Certificates or, as applicable, beneficial interest in more than 50 per cent. of the RC2 Residual Certificates and (ii) the Paragon Banking Group holds (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) less than 50 per cent. in number of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the beneficial interest in less than 50 per cent. in number of the RC2 Residual Certificates, the person who holds the greatest number of the RC2 Residual Certificates or, as applicable, the beneficial interest in the greatest number of the RC2 Residual Certificates. For the avoidance of doubt, where the Paragon Banking Group holds (where the RC2 Residual Certificates are represented by Definitive Residual Certificates) 50 per cent. or more in number of the RC2 Residual Certificates or (where the RC2 Residual Certificates are represented by a Global Residual Certificate) the beneficial interest in 50 per cent. or more in number of the RC2 Residual Certificates, the Portfolio Option shall not be exercisable by any party.
Sample 1Sample 2Sample 3
Portfolio Option Holder means, (a) (where the Residual Certificates are represented by Definitive Residual Certificates) the person who holds greater than 50 per cent. of the Residual Certificates or (where the Residual Certificates are represented by a Global Residual Certificate) the Residual Certificateholder who holds the beneficial interest in more than 50 per cent. of the Residual Certificates or (b) where no person holds greater than 50 per cent. of the Residual Certificates or, as applicable, beneficial interest in more than 50 per cent. of the Residual Certificates, the person who holds the greatest aggregate number of the Residual Certificates or, as applicable, the beneficial interest in the greatest aggregate number of the Residual Certificates.
Sample 1Sample 2

Examples of Portfolio Option Holder in a sentence

  • We hereby certify that we are the Portfolio Option Holder and are entitled to exercise the Portfolio Option by delivering this Exercise Notice.

  • This Deed shall take effect as a Deed Poll for the benefit of the Portfolio Option Holder.

  • The Issuer and the parties specified in the Exercise Notice shall enter into a binding agreement in accordance with the Law of Property (Miscellaneous Provisions) Act 1989 if required to do so by the Portfolio Option Holder in order to give effect to the sale referred to in this Deed.

  • The costs relating to the Tax Advice referred to in Clause3.13(a) shall be borne by Portfolio Option Holder.

  • Purchase of Portfolio by Portfolio Option Holder:The Portfolio Option Holder may, by giving of a written notice to the Issuer with a copy to the Note Trustee, the Security Trustee, the Seller, the Legal Title Holder and each of the Rating Agencies, purchase all (but not part) of the Issuer's interest in the Loans and their Related Security on any Interest Payment Date on and following the First Optional Redemption Date.

  • The tax advice referred to in (a) above shall be obtained at the cost of the Portfolio Option Holder.

  • As at the date of signing these financial statements the Portfolio Option Holder has not yet committed to exercising the call option.

  • The Issuer has covenanted in the Deed Poll in favour of the Portfolio Option Holder that prior to the service of an Enforcement Notice it shall not agree to any sale of the Portfolio that is not already provided for under the Transaction Documents without the prior written consent of the Portfolio Option Holder.

  • The Portfolio Option Holder, when exercising the Portfolio Purchase Option, will be required to accede to if it is not already a party thereto and comply with the terms of the Servicer Facilitator Agreement.

  • In addition, the Class Y Certificates represent the right of the Portfolio Option Holder to exercise the Portfolio Purchase Option.


More Definitions of Portfolio Option Holder

Portfolio Option Holder means the holder of more than 50 per cent. of the Class Y Certificates (for the avoidance of doubt excluding those Class Y Certificates held directly or indirectly by the Retention Holder) or its representative and nominee. The Portfolio Option Current Value Purchase PriceThe Portfolio Option Holder shall inform the Minority Class Y Certificateholder of the Portfolio Option Current Value Purchase Price in writing no later than 120 calendar days prior to the proposed Optional Redemption Exercise Date. Upon receipt of such notice, the Minority Class Y Certificateholder shall within 30 calendar days of receipt of such notice:
Sample 1
Portfolio Option Holder means: (a) where there is a sole Principal Residual Certificateholder, the Principal Residual Certificateholder; or (b) where there is not a sole Principal Residual Certificateholder, any entity that represents Eligible Principal Residual Certificateholders holding not less than 75 per. cent. of the Principal Residual Certificates held by Eligible Principal Residual Certificateholders.
Sample 1Sample 2

Related to Portfolio Option Holder

  • Option Holders means the holders of the Options.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Optionholder means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Optionee means an Employee or Consultant who receives an Option.

  • Date of Option Grant means the “Date of Grant” as set forth in the Notice of Grant.

  • Approved Transferee means (a) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A promulgated under the Securities Act that is a financial institution or commercial bank having capital and surplus of $5,000,000,000 or more, (b) an affiliate of the Funding Lender, or (c) a trust or custodial arrangement established by the Funding Lender or one of its affiliates the beneficial interests in which will be owned only by QIBs.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Eligible Director means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.