Subordinate Consultation Period definition

Subordinate Consultation Period means any period when (i) the Certificate Balance of the Class E Certificates (taking into account the application of Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such certificates), is less than 25% of the initial Certificate Balance of that Class but (ii) the Certificate Balance of the Class E Certificates (without regard to the application of Appraisal Reduction Amounts allocated to that class) is equal to or greater than 25% of the initial Certificate Balance of that Class.
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Subordinate Consultation Period means any period when both (i) the Certificate Balance of the Class E Certificates (taking into account the application of Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such certificates), is less than 25% of the initial Certificate Balance of that Class and (ii) the Certificate Balance of the Class E Certificates (without regard to the application of Appraisal Reduction Amounts allocated to that class) is at least 25% of the initial Certificate Balance of that Class. If at any time, the Certificate Balance of the Class E Certificates (without regard to the application of the Appraisal Reduction Amounts allocated to such class) is less than 25% of the initial Certificate Balance of that Class, the Subordinate Consultation Period will terminate.
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Subordinate Consultation Period shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.
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Examples of Subordinate Consultation Period in a sentence

  • If required in accordance with any such adjustment, each Class of Certificates that has been notionally reduced as a result of Appraisal Reduction Amounts shall have its related Certificate Balance notionally restored by the Certificate Administrator or the Trustee to the extent required by such adjustment of the Appraisal Reduction Amount, and there will be a redetermination of whether a Subordinate Control Period or Subordinate Consultation Period is in effect.

  • The Special Servicer shall promptly notify in writing the Servicer, the Trustee, the Certificate Administrator, the Companion Loan Holders, the Risk Retention Consultation Party and the Directing Holder (during any Subordinate Control Period or Subordinate Consultation Period) of the occurrence of such Special Servicing Loan Event.

  • The Certificate Administrator shall notify each of the parties hereto of the occurrence of a Subordinate Consultation Period or Subordinate Control Period with respect to the Certificates.

  • Any such Appraisal obtained pursuant to this Section 3.7(a) will be delivered by the Special Servicer to the Servicer, the 17g-5 Information Provider, the Certificate Administrator, Companion Loan Holders and, during any Subordinate Control Period or Subordinate Consultation Period, the Directing Holder in electronic format and the Certificate Administrator shall make such Appraisal available to Privileged Persons pursuant to Section 8.14(b).

  • The Special Servicer shall promptly notify in writing the Servicer, the Trustee, the Certificate Administrator, the Senior Pari Passu Companion Loan Holders and the Directing Holder (during any Subordinate Control Period or Subordinate Consultation Period) of the occurrence of such Special Servicing Loan Event.

  • Any such Appraisal obtained pursuant to this Section 3.7(a) will be delivered by the Special Servicer to the Trustee, the Servicer, the Certificate Administrator, the Senior Pari Passu Companion Loan Holders and the 17g-5 Information Provider and, during any Subordinate Control Period or Subordinate Consultation Period, the Directing Holder in electronic format and the Certificate Administrator shall make such Appraisal available to Privileged Persons pursuant to Section 8.14(b).

  • Any such Appraisal obtained pursuant to this Section 3.7(a) will be delivered by the Special Servicer to the Trustee, the Servicer, the 17g-5 Information Provider, the Certificate Administrator, the Companion Loan Holders and, during any Subordinate Control Period or Subordinate Consultation Period, the Directing Holder in electronic format and the Certificate Administrator shall make such Appraisal available to Privileged Persons pursuant to Section 8.14(b).

  • Any such determination permitting the resignation of the Servicer or the Special Servicer, as the case may be, shall be evidenced by an Opinion of Counsel delivered to the Trustee, the Certificate Administrator, the Companion Loan Holders, the Depositor and, during any Subordinate Control Period and any Subordinate Consultation Period, the Controlling Class Representative.

  • Any such Appraisal obtained pursuant to this Section 3.7(a) will be delivered by the Special Servicer to the Trustee, the Certificate Administrator, the 17g-5 Information Provider and, during any Subordinate Control Period and any Subordinate Consultation Period, the Controlling Class Representative, in electronic format.

  • Notwithstanding the foregoing, deemed Trust Appraisal Reduction Amounts imposed pursuant to clause (x) of the preceding sentence shall not be allocated to any Class of Certificates for purposes of determining whether the Controlling Class is an Appraisal-Reduced Class, whether a Subordinate Control Period, a Subordinate Consultation Period or a Subordinate Consultation Termination Period is then in effect, or the allocation of Voting Rights for any purpose.

Related to Subordinate Consultation Period

  • Consultation Period means the period of sixty (60) days or such longer period as the Parties may agree, commencing from the date of issue of a TSP’s Preliminary Notice or a Nodal Agency’s Preliminary Termination Notice, as provided in Article 13 of this Agreement, for consultation between the Parties to mitigate the consequence of the relevant event having regard to all the circumstances;

  • Subordination Period means the period commencing on the Closing Date and ending on the first to occur of the following dates:

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Subordinate Component Balance For any of Loan Group I, Loan Group II, Loan Group III, Loan Group IV or Loan Group V, as of any date of determination, the then outstanding aggregate Stated Principal Balance of the Mortgage Loans in that Loan Group minus the sum of the then outstanding aggregate Class Principal Balance of the related Classes of Class A Certificates.

  • Senior Specified Enhancement Percentage As of any date of determination, 38.00%.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Contract Transition Period means the 90 day transition as defined in Section F of this Contract.

  • Allocation Period means the period (a) commencing on the date hereof or, for any Allocation Period other than such first Allocation Period, the day following the end of a prior Allocation Period and (b) ending (A) on the last day of each Fiscal Year, (B) on the day preceding any day in which an adjustment to the Book Value of the C.V.’s properties pursuant to clause (b)(i), (ii), (iii) or (v) of the definition of Book Value occurs, (C) immediately after any day in which an adjustment to the Book Value of the C.V.’s properties pursuant to clause (b)(iv) of the definition of Book Value occurs, or (D) on any other date determined by the Managing Partner.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Determination Period means the period from and including a Determination Date in any year to but excluding the next Determination Date; and

  • Negotiation Period has the meaning given in Clause 5.10;

  • Subordination Depletion Date The Distribution Date preceding the first Distribution Date on which the Class A Percentage (determined pursuant to clause (ii) of the definition thereof) equals or exceeds 100%.

  • Financing Period means the number of calendar days from, but excluding, the immediately preceding Reset Date to, and including, the current Reset Date.

  • Objection Period has the meaning set forth in Section 2.4(d).

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Distribution Determination Date means, in respect of any Distribution Period, that number of business days prior thereto as is set out in the applicable Pricing Supplement or on the face of the relevant Perpetual Security;

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.

  • Liquidation Period has the meaning set forth in Section 10.6 of this Agreement.

  • Rating period means the 12-month period for which premium rates are determined by a health

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Standstill Period has the meaning set forth in Section 3.1.