Majority Class X Certificateholders definition

Majority Class X Certificateholders. The Holders at any time of more than 50% of the Percentage Interest in the Class X Certificates.
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Examples of Majority Class X Certificateholders in a sentence

  • The Majority Class X Certificateholders shall have the option to purchase any such loans from the Trust Fund at the Purchase Price.

  • Upon such final deposit with respect to the Trust Fund and the receipt by the Custodian of a Request for Release therefor, the Custodian shall promptly release to the Majority Class X Certificateholders, the NIMS Insurer, if any, or the Servicer, as applicable, the Mortgage Files for the Mortgage Loans.

  • If the Majority Class X Certificateholders or the NIMS Insurer, if any, elect to terminate the Trust Fund pursuant to clause (a)(i) of Section 9.1, at least 20 days prior to the date notice is to be mailed to the affected Certificateholders, the Majority Class X Certificateholders shall notify the Depositor and the Trustee of the date the Majority Class X Certificateholders intend to terminate the Trust Fund and of the applicable repurchase price of the Mortgage Loans and REO Properties.

  • Upon exercise of such option, the property of the Trust Fund shall be sold to the Master Servicer at a price equal to the Termination Price, whereupon the Master Servicer shall immediately sell such property to the Majority Class X Certificateholders at a price equal to the Termination Price.

  • Notwithstanding anything in this Agreement to contrary, the Master Servicer shall not be obligated to purchase the assets of the Trust Fund unless and until the Master Servicer shall have received funds from the Majority Class X Certificateholders in an amount equal to the Termination Price.

  • Upon receipt of such notice, the Majority Class X Certificateholders may exercise their option to terminate the Trust Fund on or before the Distribution Date selected by the Servicer in accordance with the procedures set forth in this Section 10.01.

  • If such option is not exercised by the Majority Class X Certificateholders on the first applicable Distribution Date, the Servicer may exercise such option, but only upon providing at least 60 days prior written notice to the Majority Class X Certificateholders of the Servicer's intention to terminate the Trust Fund and the applicable Distribution Date for such termination.

Related to Majority Class X Certificateholders

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Class A Certificateholder means the Person in whose name a Class A Certificate is registered in the Certificate Register.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Controlling Class Certificateholder Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Administrator from time to time.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Certificateholders shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified herein; provided, however, that the Trustee shall be required to recognize as a "Holder" or "Certificateholder" only the Person in whose name a Certificate is registered in the Certificate Register.

  • Class R Certificateholder The registered Holder of the Class R Certificate.

  • Junior Certificateholder The Holder of not less than 95% of the Percentage Interests of the Junior Class of Certificates.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Majority Certificateholders The Holders of Certificates evidencing at least 51% of the Voting Rights.

  • REMIC III Certificateholder The Holder of any REMIC III Certificate.

  • Majority Certificateholder means the Holder of the greatest percentage ownership interest in the Certificate as recorded in the Certificate Register.

  • Investor Certificateholder means the holder of record of an Investor Certificate.

  • Class D Certificateholder means the Person in whose name a Class D Certificate is registered in the Certificate Register.

  • Holder or Certificateholder The registered owner of any Certificate as recorded on the books of the Certificate Registrar except that, solely for the purposes of taking any action or giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Trustee, the Master Servicer, any Servicer or any Affiliate thereof shall be deemed not to be outstanding in determining whether the requisite percentage necessary to effect any such consent has been obtained, except that, in determining whether the Trustee shall be protected in relying upon any such consent, only Certificates which a Responsible Officer of the Trustee knows to be so owned shall be disregarded. The Trustee may request and conclusively rely on certifications by the Depositor, the Master Servicer and any Servicer in determining whether any Certificates are registered to an Affiliate of the Depositor, the Master Servicer or such Servicer.

  • Applicable Certificateholder Means the Person in whose name an Applicable Certificate is registered on the Register for the Applicable Certificates.

  • Certificateholder means the Person in whose name the Certificate is registered.

  • Unaffiliated Certificateholder Any Certificateholder other than the Depositor or an Affiliate of the Depositor.

  • Noteholders means the Class A-1 Noteholders, the Class A-2a Noteholders, the Class A-2b Noteholders, the Class A-3 Noteholders, the Class A-4 Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders.

  • Class X Certificates All Certificates bearing the class designation of "Class X".

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.