Woodlands Mall Controlling Class definition

Woodlands Mall Controlling Class. As of any time of determination, the most subordinate Class of Woodlands Mall Control Eligible Certificates then outstanding that has a Certificate Balance, as notionally reduced by any portion of the cumulative Appraisal Reduction Amount allocable to such Class, at least equal to 25% of the initial Certificate Balance of that Class; provided, however, that if no Class of Woodlands Mall Control Eligible Certificates meets the preceding requirement, the most senior Class of the Woodlands Mall Control Eligible Certificates; provided, further, however, that if, at any time, the outstanding Certificate Balance of the Class WM-A Certificates has been reduced to zero (without regard to the allocation of any Cumulative Appraisal Reduction Amounts), then the “Woodlands Mall Controlling Class” will be the most subordinate class of Woodlands Mall Control Eligible Certificates with an outstanding Certificate Balance greater than zero (without regard to the allocation of any Cumulative Appraisal Reduction Amounts. The Woodlands Mall Controlling Class as of the Closing Date will be Class WM-C Certificates.
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Examples of Woodlands Mall Controlling Class in a sentence

  • For the avoidance of doubt, for purposes of determining the Woodlands Mall Controlling Class, any Class of Woodlands Mall Control Eligible Certificates will be allocated both applicable Appraisal Reduction Amounts and applicable Collateral Deficiency Amounts, as described in this paragraph.

Related to Woodlands Mall Controlling Class

  • Controlling Class means (a) the Outstanding Class A Notes, (b) if no Class A Notes are Outstanding, the Outstanding Class B Notes and (c) if no Class B Notes are Outstanding, the Outstanding Class C Notes.

  • Controlling Class Representative shall have the meaning assigned to the term “Directing Certificateholder” in the Lead Securitization Servicing Agreement.

  • Lead Securitization Controlling Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement.

  • Existing Class means any Existing Term Loan Class and any Existing Revolving Credit Class.

  • Controlling Class Certificateholder Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Administrator from time to time.

  • Voting Classes means Classes 4 and 5.

  • participating class means a class of shares title to which is permitted by an Operator to be transferred by means of a relevant system;

  • Lead Securitization Subordinate Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

  • Majority in liquidation amount of the Capital Securities means Holder(s) of outstanding Capital Securities, voting together as a class, but separately from the holders of Common Securities, of more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all Capital Securities then outstanding.

  • Required Subordinated Amount of Class D Notes means, for the Class A( - ) Notes for any date of determination, an amount equal to the product of

  • Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

  • Required Subordinated Amount of Class C Notes means, for the Class A( - ) Notes for any date of determination, an amount equal to the product of

  • Instituting Noteholders has the meaning set forth in Section 7.6(a) of the Indenture.

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Corresponding Class The class of interests in the Lower-Tier REMIC or Upper-Tier REMIC that corresponds to the class of interests in the other such REMIC or to a Class of Certificates in the manner set out below: Corresponding Corresponding Upper-Tier Corresponding Lower-Tier Class Designation Regular Interest Class of Certificates ---------------------------- ---------------- --------------------- Class LT-A-1 Class A-1 Class A-1 Class LT-A-2a Class A-2a Class A-2a Class LT-A-2b Class A-2b Class A-2b Class LT-A-2c Class A-2c Class A-2c Class LT-A-2d Class A-2d Class A-2d Class LT-M-1 Class M-1 Class M-1 Class LT-M-2 Class M-2 Class M-2 Class LT-M-3 Class M-3 Class M-3 Class LT-M-4 Class M-4 Class M-4 Class LT-M-5 Class M-5 Class M-5 Class LT-M-6 Class M-6 Class M-6 Class LT-B-1 Class B-1 Class B-1 Class LT-B-2 Class B-2 Class B-2 Class LT-B-3 Class B-3 Class B-3 N/A Class X Class X

  • Controlling Noteholder means as of any date of determination the holder or holders of a majority of the Lead Securitization Note. At any time the Lead Securitization Note is the Controlling Noteholder and is included in the Lead Securitization, references to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling class” (or such lesser amount as permitted under the terms of the Servicing Agreement) or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement.

  • Serviced Pari Passu Companion Loan Holder A holder of a Serviced Pari Passu Companion Loan.

  • Companion Loan Holder The holder of a Companion Loan.

  • Required Subordinated Amount of Class B Notes means, for the Class A( - ) Notes for any date of determination, an amount equal to the product of

  • Participating Class Members means all Class Members who do not submit valid

  • Majority Noteholders means the Holders of a majority by principal amount of the most senior then outstanding class of Notes.

  • Participating Class Member means a Class Member who does not submit a valid and timely Request for Exclusion from the Settlement.

  • Outstanding Company Voting Securities means outstanding voting securities of the Company entitled to vote generally in the election of directors; and any specified percentage or portion of the Outstanding Company Voting Securities (or of other voting stock or voting securities) shall be determined based on the relative combined voting power of such securities;

  • Serviced Companion Loan Holder The holder of a Serviced Companion Loan.

  • Class E Note Balance means, at any time, the Initial Class E Note Balance reduced by all payments of principal made prior to such time on the Class E Notes.