DIRECTING HOLDER Clause Samples
The 'Directing Holder' clause designates a specific party, often among multiple stakeholders, who has the authority to make decisions or give instructions on behalf of all holders regarding certain rights or actions under the agreement. In practice, this clause typically applies in situations where there are several investors or beneficiaries, and it streamlines communication by allowing the issuer or counterparty to interact with a single representative rather than each individual holder. Its core function is to simplify administration and ensure efficient decision-making, thereby reducing confusion and delays that could arise from having to coordinate with multiple parties.
DIRECTING HOLDER. The Certificateholder of a majority in Percentage Interest of the Equity Certificates from the time that such Certificateholder provides the Affirmation to the Servicer and until such time as such Certificateholder is no longer a Certificateholder of a majority in Percentage Interest in the Equity Certificates.
DIRECTING HOLDER. The Holder of a majority in Percentage Interest of the most subordinate outstanding Class of the Class B-5 or Class B-6 Certificates from the time that such Holder provides the Affirmation to the Master Servicer and until such time as such Holder is no longer a Holder of a majority in Percentage Interest in the Class B-5 or Class B-6 Certificates.