Common use of Resizing Clause in Contracts

Resizing. In connection with the Mortgage Loan, the Junior Noteholder agrees that if, in connection with the Future Securitization, it is advantageous to resize the Notes, the Junior Noteholder shall cooperate with the Senior Noteholder to resize the Notes in connection therewith and shall adjust the principal balances of the Notes accordingly. In connection with the resizing of the Notes, each Noteholder may allocate its rights hereunder among the new notes obtained by such Noteholder in any manner in its sole discretion.

Appears in 1 contract

Sources: Agreement Between Noteholders (Benchmark 2021-B25 Mortgage Trust)

Resizing. In connection with the Mortgage Loan, the Junior Noteholder agrees that if, in connection with the Future Securitization, it is advantageous to resize or otherwise change the Notessize of the Senior Note, the Junior Noteholder shall reasonably cooperate with the Senior Noteholder to resize the Notes Senior Note in connection therewith and shall adjust reasonably cooperate with the principal balances of Senior Noteholder to amend this agreement to decrease the Notes accordinglySenior Note by up to $2,000,000 with a corresponding increase in the Junior Note with the same rights and remedies as set forth herein. In connection with the resizing of the Notes, each the Senior Noteholder may allocate its rights hereunder among the new notes obtained by such Noteholder in any manner in its sole discretion.

Appears in 1 contract

Sources: Agreement Between Noteholders (JPMBB Commercial Mortgage Securities Trust 2015-C31)

Resizing. In connection with the Mortgage Loan, the Junior Noteholder agrees that if, in connection with the Future Securitization, it is advantageous to resize or otherwise change the Notessize of the Senior Note, the Junior Noteholder shall reasonably cooperate with the Senior Noteholder to resize the Notes Senior Note in connection therewith and shall adjust reasonably cooperate with the principal balances of Senior Noteholder to amend this Agreement to split the Notes accordinglySenior Note into a Note A and Note B and recharacterize the Junior Note as Note C with the same rights and remedies as set forth herein. In connection with the resizing of the Notes, each the Senior Noteholder may allocate its rights hereunder among the new notes obtained by such Noteholder in any manner in its sole discretion.

Appears in 1 contract

Sources: Agreement Between Noteholders (Bank of America Merrill Lynch Commercial Mortgage Trust 2015-Ubs7)