Subordinate Control Period definition

Subordinate Control Period. Unless a Senior Consultation Period is deemed to occur and is continuing pursuant to clause (ii) of the definition of “Senior Consultation Period”, any period when the Class Principal Balance of the Class F Certificates, net of any Appraisal Reduction Amounts allocable to such Class, is at least 25% of the initial Class Principal Balance of the Class F Certificates. No Subordinate Control Period shall limit the control and consultation rights of the “Controlling Note Holder” (as defined in the related Intercreditor Agreement) of any Non-Serviced Pari Passu Companion Loan.

Subordinate Control Period means any period when the Aggregate Certificate Balance of the Class F Certificates (as notionally reduced by any Appraisal Reductions allocable to such Class in accordance with Section 6.9) is at least 25% of the initial Aggregate Certificate Balance of the Class F Certificates.

Subordinate Control Period. Unless a Senior Consultation Period is deemed to occur and is continuing pursuant to clause (ii) of the definition of “Senior Consultation Period”, any period when the Class Principal Balance of the Class E Certificates, net of any Appraisal Reduction Amounts allocable to such Class, is at least 25% of the initial Class Principal Balance of the Class E Certificates. No Subordinate Control Period shall limit the control and consultation rights of the “Controlling Note Holder” (as defined in the related Intercreditor Agreement) of any Non-Serviced Pari Passu Companion Loan.

Examples of Subordinate Control Period in a sentence

• Any such determination permitting the resignation of the Special Servicer shall be evidenced by an opinion of counsel to such effect delivered to the Master Servicer, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period) and the Trustee.

• Any Appraised-Out Class(es) (together with any other Classes of Control Eligible Certificates affected by such Appraisal Reduction) shall have the related Aggregate Certificate Balance(s) notionally restored to the extent required by such recalculation of the Appraisal Reduction, and there will be a redetermination of whether a Subordinate Control Period, a Collective Consultation Period or a Senior Consultation Period is then in effect, as applicable.

• Notwithstanding the foregoing, if the Special Servicer shall cease to serve as such in accordance with this Section 9.21(a) and a successor servicer shall not have been engaged (or, during any Subordinate Control Period, shall not have been appointed by the Controlling Class Representative and engaged), the Trustee or an agent of the Trustee shall assume the duties and obligations of the Special Servicer under this Agreement.

• In addition, during any Subordinate Control Period, subject to Section 10.3(b), Section 10.3(c) and the immediately following paragraph, the Controlling Class Representative may direct the Special Servicer to take, or to refrain from taking, such other actions with respect to a Mortgage Loan, A/B Whole Loan or Loan Pair as the Controlling Class Representative may deem advisable or as to which provision is otherwise made herein.

• The Special Servicer, based on the Appraisal or internal valuation prepared or obtained by the Special Servicer and receipt of information requested by the Special Servicer from the Master Servicer pursuant to this Section 6.9, shall calculate any Appraisal Reduction and promptly report such amount to the Master Servicer, the Trustee, the Certificate Administrator, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period) and the Trust Advisor.

More Definitions of Subordinate Control Period

Subordinate Control Period. With respect to the Control Eligible Certificates and any date of determination, any period when the Certificate Balance of any Class of the Control Eligible Certificates on such date (taking into account the application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such Certificates) is at least 25% of the initial Certificate Balance of that Class of Certificates.

Subordinate Control Period. Any period when the Class Principal Balance of the Class E Certificates, net of any Appraisal Reduction Amounts allocable to such Class, is at least 25% of the initial Class Principal Balance of the Class E Certificates.

Subordinate Control Period. Any period when the Certificate Balance of the Class E Certificates (taking into account the application of any Trust Appraisal Reduction Amount to notionally reduce the Certificate Balance of such Class of Certificates) is at least equal to 25% of the initial Certificate Balance of such Class of Certificates.

Subordinate Control Period. Any period when the Class Principal Balance of the Class F Certificates, net of any Appraisal Reduction Amounts allocable to such Class, is at least 25% of the initial Class Principal Balance of the Class F Certificates.

Subordinate Control Period shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

Subordinate Control Period. With respect to the Class D Certificates and any date of determination, any period when the Certificate Balance of the Class D Certificates on such date (taking into account the application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance of the Class D Certificates) is at least 25% of the Initial Certificate Balance of the Class D Certificates.

Subordinate Control Period. Unless a Senior Consultation Period is deemed to occur and is continuing pursuant to clause (ii) of the definition of “Senior Consultation Period”, any period when the Class Principal Balance of the Class E Certificates, net of any Appraisal Reduction Amounts allocable to such Class, is at least 25% of the initial Class Principal Balance of the Class E Certificates. No Subordinate Control Period shall limit the control and/or consultation rights (if any) of either (i) any Serviced Pari Passu Companion Loan Holder in respect of a Serviced Loan Combination or (ii) the Trust in respect of a Non-Serviced Loan Combination.