Examples of Class M Notes in a sentence
Section 1.2 Transfer Restrictions.(a) The Class M Notes and Class B Notes have not been registered under the Securities Act or any state securities law.
The Class M Notes are not entitled to any other amounts under the Conditions.
In particular, payments in respect of the Class X Notes and the Class A Notes are generally higher in the Priorities of Payment than those of the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes, the Class F Notes, the Class Z Notes, the Subordinated Notes and the Class M Notes.
As a result, any deterioration in performance of the asset portfolio, including defaults and losses, a reduction of realised yield or other factors, will be borne first by holders of the Class M Notes and the Subordinated Notes, then the Class Z Notes and then by the holders of the Rated Notes in reverse order of seniority.
Such Class M Notes may be transferred and a portion of such Class M Notes shall be issued on the Issue Date to one or more Subordinated Noteholders.