Controlling Class Condition definition

Controlling Class Condition. A condition that is satisfied if either (i) with respect to any event or action that is conditioned upon or otherwise subject to the satisfaction of the Controlling Class Condition, the Initial Class A-1 Notes Purchaser has consented in writing to such event or action or (ii) there is no longer an Initial Class A-1 Notes Purchaser.
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Controlling Class Condition means a condition that is satisfied if either (a) all of the Class A Notes issued on the Closing Date have been redeemed, refinanced or repaid in full or (b) with respect to any event or action that is conditioned upon or otherwise subject to the satisfaction of the Controlling Class Condition, a Majority of the Class A Notes has consented in writing to such event or action.
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Controlling Class Condition means a condition that is satisfied if (x) S&P’s rating of the Class A Notes and Fitch’s rating of the Class A Notes is at least the initial rating thereof and such rating has not been withdrawn (or it has been reinstated) or (y) (i) S&P’s rating of the Class A Notes or Fitch’s rating of the Class A Notes is one or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) and (ii) either (a) the Initial Class A Notes Purchaser has consented in writing to such event or action or (b) there is no longer an Initial Class A Notes Purchaser.
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Examples of Controlling Class Condition in a sentence

  • Notwithstanding the foregoing, the right of the Holders of the Class A-1 Notes prior to the satisfaction of the Controlling Class Condition, and the Holders of the Subordinated Notes to affirmatively consent to any proposed supplemental indenture pursuant to Section 8.2 shall not be affected by the provisions of this Section 8.4(a).

  • The undersigned acknowledges the terms of Section 8.4 of the Indenture, including without limitation the definition of “Investor Consent Period.” Notwithstanding anything else in the Indenture to the contrary, with respect to any proposed supplemental indenture pursuant to Section 8.2 of the Indenture, Section 8.4 of the Indenture shall not apply to (x) any Holder of the Class A- 1 Notes prior to the satisfaction of the Controlling Class Condition and (y) any Holder of the Subordinated Notes.

  • The Collateral Manager may direct the Trustee to consummate an Exchange Transaction at any time following the satisfaction of the Controlling Class Condition during or after the Reinvestment Period without restriction so long as the conditions set forth in Section 12.2(b) are satisfied.


More Definitions of Controlling Class Condition

Controlling Class Condition. A condition that is satisfied if either (a) all of the Class A-1 Notes issued on the Closing Date have been redeemed, refinanced or repaid in full or (b) with respect to any event or action that is conditioned upon or otherwise subject to the satisfaction of the Controlling Class Condition, a Majority of the Class A-1 Notes has consented in writing to such event or action.
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Controlling Class Condition means a condition that is satisfied if all of the Class A-1 Notes issued on the Closing2021 Refinancing Date have been redeemed, refinanced or repaid in full.
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