Common use of Notices to Holders of Class A Notes Clause in Contracts

Notices to Holders of Class A Notes. Each Monthly Report and Valuation Report shall contain or shall have attached to it a notice to the Holders of the Class A Notes stating that (A) each Holder of a beneficial interest in the Class A Notes shall be deemed to have (i) represented that the Holder is both (1) a Qualified Institutional Buyer and (2) a Qualified Purchaser and (ii) made all other representations set forth in the legends of the applicable Class A Notes, (B) the Issuer shall have the right to refuse to honor a transfer of the Class A Notes to a person who does not satisfy the requirements set forth in subclause (A) of this Section 10.10 and (C) pursuant to Section 2.12, the Issuer may require a Non-Permitted Holder to transfer its interest in the Class A Notes to a Person that is not a Non-Permitted Holder within 30 days of receiving notice to such effect from the Issuer and, if such Non-Permitted Holder fails to transfer its Class A Notes, the Issuer shall have the right, without further notice to the Non-Permitted Holder, to sell such Class A Notes or interest in Class A Notes to a purchaser selected by the Issuer that is not a Non-Permitted Holder on such terms as the Issuer may choose. To the extent a notice is sent to a Holder of Global Notes, the Trustee will request such Holder to send the notice to the beneficial owners of such Class A Notes.