Woodlands Mall Controlling Class Representative definition
Woodlands Mall Controlling Class Representative. The Woodlands Mall Controlling Class Certificateholder (or other representative) selected by at least a majority of the Woodlands Mall Controlling Class Certificateholders, by Certificate Balance, as identified by notice to the Certificate Administrator by the applicable the Woodlands Mall Controlling Class Certificateholders from time to time, with notice of such selection delivered to the Special Servicer, the Master Servicer, the Operating Advisor, the Asset Representations Reviewer and the Trustee; provided, however, that (i) absent that selection, or (ii) until a Woodlands Mall Controlling Class Representative is so selected or (iii) upon receipt of a notice from the Woodlands Mall Controlling Class Certificateholders that own Loan-Specific Certificates representing more than 50% of the Certificate Balance of the Woodlands Mall Controlling Class, that the Woodlands Mall Controlling Class Representative is no longer designated, the Woodlands Mall Controlling Class Representative will be the Woodlands Mall Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Woodlands Mall Controlling Class, as identified to the Certificate Administrator (who shall notify the Master Servicer, the Special Servicer and the Operating Advisor). If, upon the occurrence of any of the events or circumstances specified in clauses (i), (ii) or (iii) above, the Woodlands Mall Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Woodlands Mall Controlling Class has not been identified to the Certificate Administrator (and thereby the Master Servicer and the Special Servicer), then the Master Servicer and the Special Servicer will have no obligation to obtain the consent of, or consult with, any Woodlands Mall Controlling Class Representative until notified of the identity of such largest Woodlands Mall Controlling Class Certificateholder or otherwise notified of the identity of the Woodlands Mall Controlling Class Representative as provided in this Agreement. The initial Woodlands Mall Controlling Class Representative is Pacific Life Insurance Company or an Affiliate thereof. No person may exercise any of the rights and powers of the Woodlands Mall Controlling Class Representative with respect to an Excluded Mortgage Loan.