Class Q definition
Examples of Class Q in a sentence
The Class Q, Class R and LR Certificates will each be issuable in one or more Individual Certificates in minimum denominations of 5% Percentage Interests and integral multiples of a 1% Percentage Interest in excess thereof and together aggregating the entire 100% Percentage Interest in each such Class.
A special meeting shall be held at a time and place determined by (i) the Board of Directors in its sole discretion if the Board of Directors has called such special meeting, or (ii) by the Class Q Members holding a majority of the outstanding Class Q Shares in their sole discretion if the Class Q Members have called such special meeting, in either case on a date not less than 10 days nor more than 60 days after notice of the meeting is given.
An officer of the Company may be removed from office with or without cause at any time by either (i) the Board of Directors or (ii) Class Q Members holding a majority of the outstanding Class Q Shares.
Upon the death, disability, resignation or removal of an Independent Director, the Class Q Members shall use commercially reasonable efforts to appoint a successor Independent Director within 60 days.
Except as otherwise required by law and subject to the rights of the holders of any Class of Shares, special meetings of the Members or any Class thereof for any purpose or purposes may be called at any time only by or at the direction of (i) the Board of Directors or (ii) Class Q Members holding a majority of the outstanding Class Q Shares.
Directors shall be appointed by Class Q Members holding a majority of the outstanding Class Q Shares.
The number of Directors may be increased or decreased from time to time by Class Q Members holding a majority of the outstanding Class Q Shares.
All Realized Losses, Expense Losses and interest shortfalls on the Mortgage Loans allocated to any Class Q Certificates will be allocated pro rata among the outstanding Certificates of such Class.
Class J, Class K, Class L, Class M, Class N, Class P or Class Q Certificates, as applicable, and increase the denomination of the Rule 144A Global Certificate for such Class, by the denomination of the beneficial interest in such Class specified in such orders and instructions.
Subject to Sections 7.2(a), 7.3 and 17.2 of this Agreement, this Agreement may be amended, at any time and from time to time, by the Board of Directors with the consent of Class Q Members holding a majority of the outstanding Class Q Shares.