Examples of Call Option Holder in a sentence
Subject to the restrictions set forth in Section 10.03(b), the Seller may, in its sole discretion, designate one (1) successor Call Option Holder upon delivery to, and acknowledgement by, the Trustee and the Master Servicer of, a Call Option Assignment Agreement.
In the event that the Call Option Holder does not exercise its right of optional termination, the obligations and responsibilities created by the Agreement will terminate upon the earliest of (i) the Distribution Date on which the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero, (ii) the final payment or other liquidation of the last Mortgage Loan and (iii) the Latest Possible Maturity Date.
The Trustee shall, within two Business Days of receipt of an executed Call Option Assignment Agreement from the Seller, acknowledge and deliver to the Seller and the successor Call Option Holder, an executed and acknowledged copy of such Call Option Assignment Agreement.
Upon assignment of the Call Option by the Seller to a successor Call Option Holder, the successor Call Option Holder will hold all rights to the Call Option and neither the Master Servicer nor the Seller will have any further interest in the Call Option.
The Portfolio Call Option Holder may give notice of its exercise of such option no earlier than the Business Day immediately following the Interest Payment Date immediately preceding the Optional Redemption Date.