Subordinate Beneficiaries definition

Subordinate Beneficiaries means (a) the Holders of any Outstanding Subordinate Notes and (b) any Other Subordinate Beneficiary holding any Other Subordinate Obligation that is Outstanding.
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Subordinate Beneficiaries means (1) the Holders of any Outstanding Class B Notes, and (2) any Other Subordinate Beneficiary holding any Other Subordinate Obligation that is Outstanding.
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Examples of Subordinate Beneficiaries in a sentence

  • The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Senior Notes at the time Outstanding or Other Senior Beneficiaries or, if no Senior Obligations are Outstanding, the Holders of specified percentages in aggregate principal amount of the Subordinate Notes at the time Outstanding or Other Subordinate Beneficiaries, on behalf of the Holders of all the Notes, to waive certain past defaults under the Indenture and their consequences.

  • The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Class A Notes at the time Outstanding or Other Senior Beneficiaries or, if no Senior Obligations are Outstanding, the Holders of specified percentages in aggregate principal amount of the Class B Notes at the time Outstanding or Other Subordinate Beneficiaries, on behalf of the Holders of all the Notes, to waive certain past defaults under the Indenture and their consequences.

  • The Reserve Fund is established only for the security of the Senior Beneficiaries and the Subordinate Beneficiaries, and not for the Holders of the Class C Notes.

  • The Indenture also contains provisions permitting the Holders of specified percentages in aggregate Principal Amount of the Class A Notes at the time Outstanding or Other Senior Beneficiaries or, if no Senior Obligations are Outstanding, the Holders of specified percentages in aggregate Principal Amount of the Class B Notes at the time Outstanding or Other Subordinate Beneficiaries, on behalf of the Holders of all the Notes, to waive certain past defaults under the Indenture and their consequences.

  • The Reserve Fund is established only for ------------ the security of the Senior Beneficiaries and the Subordinate Beneficiaries, and not for the Holders of the Class C Notes (other than to provide funds for transfers to the Rebate Fund for Tax Exempt Class C Notes as hereinafter set forth).

  • The Reserve Fund is established only for the security of the Senior Beneficiaries and the Subordinate Beneficiaries, and not for the Holders of the Class C Notes (other than to provide funds for transfers to the Rebate Fund for Tax Exempt Class C Notes as hereinafter set forth).