Controlling Class Representative definition

Controlling Class Representative shall have the meaning assigned to the term “Directing Certificateholder” in the Lead Securitization Servicing Agreement.

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Controlling Class Representative means the “Controlling Class Representative” as defined in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Controlling Class Representative. The Controlling Class Certificateholder (or other representative) selected by at least a majority of the Controlling Class Certificateholders by Certificate Balance, as identified by notice to the Certificate Administrator by the applicable Controlling Class Certificateholders from time to time, with notice of such selection delivered to the Special Servicer, the Master Servicer, the Operating Advisor, the Asset Representations Reviewer and the Trustee; provided that, (i) absent such selection, or (ii) until a Controlling Class Representative is so selected, or (iii) upon receipt of notice from the Controlling Class Certificateholders that own Certificates representing more than 50% of the Certificate Balance of the Controlling Class that a Controlling Class Representative is no longer so designated, the Controlling Class Representative shall be the Controlling Class Certificateholder that owns Certificates representing the largest aggregate Certificate Balance of the Controlling Class, as identified (in writing with contact information) to the Certificate Administrator (who shall notify the Master Servicer, the Special Servicer and the Operating Advisor). If, upon the occurrence of any of the events or circumstances specified in clauses (i), (ii) or (iii) above, the Controlling Class Certificateholder that owns Certificates representing the largest aggregate Certificate Balance of the Controlling Class has not been identified to the Certificate Administrator (and thereby the Master Servicer and the Special Servicer), then the Master Servicer and the Special Servicer shall have no obligation to obtain the consent of, or consult with, any Controlling Class Representative until notified of the identity of such largest Controlling Class Certificateholder or otherwise notified of the identity of the Controlling Class Representative as provided in this Agreement. No Person may exercise any of the consent or consultation rights and powers of the Controlling Class Representative with respect to an Excluded Mortgage Loan. The initial Controlling Class Representative on the Closing Date shall be KKR Real Estate Credit Opportunity Partners Aggregator I L.P., and the Certificate Registrar and the other parties to this Agreement shall be entitled to assume KKR Real Estate Credit Opportunity Partners Aggregator I L.P. is the Controlling Class Representative on behalf of the Controlling Class Certificateholders, until the Certificate Administrator, the Master Servicer, ...

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).

More Definitions of Controlling Class Representative

Controlling Class Representative shall have the meaning assigned to the term “Directing Certificateholder,” “Controlling Class Representative” or an analogous term in the Lead Servicing Agreement.

Controlling Class Representative means the Controlling Class Certificateholder (or other representative) selected or designated, as applicable, in accordance with Section 10.1.

Controlling Class Representative. As defined in Section 3.25.

Controlling Class Representative shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

Controlling Class Representative shall have the meaning assigned thereto in Section 6.09(b).

Controlling Class Representative means the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling class” pursuant to the related Lead Securitization Servicing Agreement.

Controlling Class Representative means, at any time during which one or more Series of Notes is Outstanding, the representative, if any, that has been elected pursuant to Section 11.1 of the Base Indenture by the Majority of Controlling Class Members; provided that, if no Controlling Class Representative has been elected or if the Controlling Class Representative does not approve or reject a Consent Request within the time period specified in Section 11.4 of the Base Indenture, the Control Party will be entitled to exercise the rights of the Controlling Class Representative with respect to such Consent Request, other than with respect to Servicer Termination Events, in accordance with the Servicing Standard.