Controlling Class Representative definition
Examples of Controlling Class Representative in a sentence
The Special Servicer shall promptly notify the Controlling Class Representative of any Appraisal Reduction Amount that causes the related Class of Control Eligible Certificates to be an Appraised-Out Class.
For instance, we did not review each page of the Special Servicer’s policy and procedure manuals (including amendments and appendices), review underlying lease agreements or similar underlying documents, re-engineer the quantitative aspects of their net present value calculation, visit any related property, visit the Special Servicer, visit the Controlling Class Representative or interact with the borrower.
For so long as there is no continuing Control Termination Event, the Controlling Class Representative shall have the right to disapprove the Asset Status Report prepared by the Special Servicer within 10 Business Days after receipt of the Asset Status Report.
In the event the Special Servicer is terminated pursuant to this Section 6.4(b), the Controlling Class Representative may not subsequently reappoint such terminated Special Servicer or any Risk Retention Affiliate thereof.
Any such Appraisals obtained shall be delivered by the Special Servicer to the Certificate Administrator, the Trustee, the Operating Advisor, the Servicer and, so long as no Control Termination Event is continuing, the Controlling Class Representative, in electronic format (which format is reasonably acceptable to the Certificate Administrator), and the Certificate Administrator shall make such appraisals available to Privileged Persons pursuant to Section 8.14(b).