Directing Certificateholder means the “Controlling Class Certificateholder” or other analogous term as defined in the Lead Securitization Servicing Agreement.
Directing Certificateholder. With respect to each Mortgage Loan, the initial Directing Certificateholder shall be RREF III Debt AIV, LP, a Delaware limited partnership. Thereafter, the Directing Certificateholder shall be the Controlling Class Certificateholder (or a representative thereof) selected by more than 50% of the Controlling Class Certificateholders (by Certificate Balance, as determined by the Certificate Registrar) from time to time; provided, however, that (i) absent that selection, or (ii) until a Directing Certificateholder is so selected or (iii) upon receipt of a notice from a majority of the Controlling Class Certificateholders, by Certificate Balance, that a Directing Certificateholder is no longer designated, the Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or a representative thereof) will be the Directing Certificateholder; provided, however, that, in the case of this clause (iii), in the event that no one Holder owns the largest aggregate Certificate Balance of the Controlling Class, then there will be no Directing Certificateholder until appointed in accordance with the terms of this Agreement. After the occurrence and during the continuance of a Control Termination Event, the Directing Certificateholder, as described in clause (B) of the first sentence of this definition, shall only retain its consultation rights to the extent specifically provided for herein. After the occurrence of a Consultation Termination Event, there will be no Directing Certificateholder, as described in clause (B) of the first sentence of this definition. The Depositor shall promptly provide the name and contact information for the initial Directing Certificateholder upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Depositor. In the event the Controlling Class Certificateholder has elected to irrevocably waive its right to appoint a Directing Certificateholder or to exercise any of the rights of the Controlling Class Certificateholder, there will be no Directing Certificateholder and no party will be entitled to exercise any of the rights of the Directing Certificateholder until such time as a Controlling Class Certificateholder is reinstated pursuant to Section 3.23(l) and a new Directing Certificateholder is appointed in accordance with the terms hereof. The Certificate Administrator and the other parties hereto shall ...
Directing Certificateholder. The Controlling Class Certificateholder selected by more than 50% of the Controlling Class Certificateholders, by Certificate Balance, as certified by the Certificate Registrar from time to time; provided, however, that (i) absent such selection, or (ii) until a Directing Certificateholder is so selected or (iii) upon receipt of a notice from a majority of the Controlling Class Certificateholders, by Certificate Balance, that a Directing Certificateholder is no longer designated, the Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class will be the Directing Certificateholder.
Examples of Directing Certificateholder in a sentence
Notice of optional redemption will be given (i) by the Directing Certificateholder to the Indenture Trustee not less than ten (10) Business Days nor more than sixty-five (65) calendar days prior to the Payment Date of the redemption, and (ii) by the Indenture Trustee to Holders of the related Notes not less than five Business Days nor more than sixty (60) calendar days prior to the Payment Date of the redemption.
Each instruction delivered by the Trustor or the Directing Certificateholder, as applicable, to the Delaware Trustee will include a certification to the Delaware Trustee from either the Trustor or the Directing Certificateholder that any actions to be taken pursuant to such instruction comply with the terms of this Agreement and the Transaction Documents and the Delaware Trustee may rely on such certification and instruction without inquiry except to the extent it has actual knowledge to the contrary.
The Custodian will, upon instruction from the Directing Certificateholder from time to time, withdraw Excess Investment Earnings then held in such sub-account and distribute them to the Directing Certificateholder.
More Definitions of Directing Certificateholder
Directing Certificateholder shall have the meaning assigned to such term (or other analogous term) in the Lead Note A PSA.
Directing Certificateholder means the Certificateholder of the Ownership Certificate. "Expenses" has the meaning specified in Section 8.02 herein.
Directing Certificateholder. As defined in Section 9.04(a).
Directing Certificateholder shall have the meaning assigned to such term or such other analogous term in the Servicing Agreement.
Directing Certificateholder. The Controlling Class Certificateholder (or its designee) selected by the Majority Certificateholder of the Controlling Class, as certified by the Trustee from time to time; provided, however, that (i) absent such selection, or (ii) until a Directing Certificateholder is so selected, or (iii) upon receipt of a notice from a majority of the Controlling Class, by Certificate Principal Balance, that a Directing Certificateholder is no longer designated, the Controlling Class Certificateholder that owns the largest aggregate Certificate Principal Balance of the Controlling Class will be the Directing Certificateholder. The initial Directing Certificateholder is Anthracite Capital, Inc.
Directing Certificateholder shall have the meaning assigned to such term in Section 6(c).
Directing Certificateholder has the meaning specified in the Trust Agreement. "Distressed Principal Balance" means, for any Payment Date, the aggregate UPB of the Reference Obligations that are 90 days or more delinquent or are otherwise in foreclosure or REO status.