Non-Directing Holder definition
Non-Directing Holder means the Holder(s) of more than a fifty percent (50%) percentage interest in any Note other than Note A-1, and if such Note has been included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under each Non-Lead Securitization Servicing Agreement to exercise the rights granted to the related Non-Directing Holder in this Agreement. If a Non-Lead Note is not in a Securitization, the Non-Directing Holder with respect to such Note will be the then-current Holder of such Note.
Non-Directing Holder means the Note A-2 Holder or, if Note A-2 is included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under the Note A-2 PSA, to exercise the rights granted to the Non-Directing Holder in this Agreement. If Note A-2 is no longer in a Securitization, the Non-Directing Holder with respect to such Note will be the then-current Holder of such Note.
Non-Directing Holder means, with respect to any A/B Whole Loan or Loan Pair, the “Non-Directing Holder”, “Non-Controlling Note Holder” or any analogous concept under the related Intercreditor Agreement. The Non-Directing Holder related to the Trust is the “Non-Controlling Note Holder” under the Milford Plaza Fee Intercreditor Agreement.
Examples of Non-Directing Holder in a sentence
Subject to the foregoing, each of the Lead Note Holder, the Directing Holder, the Non-Lead Note Holders and the Non-Directing Holder shall be permitted to submit an offer at any sale of the Defaulted Mortgage Loan (unless such Person is the Borrower or an agent or Affiliate of the Borrower).
More Definitions of Non-Directing Holder
Non-Directing Holder means the Holder of any Non-Directing Note or, if such Non-Directing Note is included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of such holders under the related PSA (or such other party under the related PSA that is entitled to exercise the rights of such “Non-Directing Holder” hereunder) or such other party that such Non-Directing Holder grants the right to exercise the rights granted to the related “Non-Directing Holder” in this Agreement; provided, that if at any time 50% or more of any Non-Directing Note (or class of securities issued in a Securitization into which such Note has been deposited that is designated as the “controlling class”) is held by (or such other party otherwise assigned the rights to exercise the rights of the “controlling class” under the related PSA is) the Borrower or a Borrower Party Affiliate, no such Holder or other Person shall be entitled to exercise any rights of the related Non-Directing Holder under this Agreement or the related PSA, and there shall be deemed to be no Non-Directing Holder with respect to such Note.
Non-Directing Holder means the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder and the Note A-3-B Holder, or, if the applicable Note is included in a Securitization, holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under the Note A-1-B PSA, the Note A-2 PSA, the Note A-3-A PSA and the Note A-3-B PSA to exercise the rights granted to the Non-Directing Holders in this Agreement.
Non-Directing Holder means the Note A-2 Holder, the Note A-3 Holder or the Note A-4 Holder (unless Note A-4 is included in the BMO 2025-C13 Securitization) or, if Note A-2 or Note A-3 is included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under the Note A-2 PSA or the Note A-3 PSA to exercise the rights granted to the Non-Directing Holder in this Agreement. If Note A-2 or Note A-3 is no longer in a Securitization, the Non-Directing Holder with respect to such Note will be the then-current Holder of such Note.
Non-Directing Holder means, with respect to any A/B Whole Loan or Loan Pair, the “Non-Directing Holder”, “Non-Controlling Note Holder” or any analogous concept under the related Intercreditor Agreement. The Non-Directing Holders related to the Trust are the “Non-Controlling Note Holder” under the JW Marriott and Fairfield Inn & Suites Intercreditor Agreement and (prior to the Hilton San Francisco Financial District Companion Loan Securitization Date) the “Non-Controlling Note Holder” under the Hilton San Francisco Financial District Intercreditor Agreement.
Non-Directing Holder means the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder (unless Note A-5 is included in the BBCMS 2025-5C38 Securitization), the Note A-6 Holder, the Note A-7 Holder or the Note A-8 Holder (unless Note A-8 is included in the BBCMS 2025-5C38 Securitization) or, if Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7 or Note A-8 is included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under the Note A-2 PSA, Note A-3 PSA, Note A-4 PSA, Note A-5 PSA (unless Note A-5 is included in the BBCMS 2025-5C38 Securitization), Note A-6 PSA, Note A-7 PSA or the Note A-8 PSA (unless Note A-8 is included in the BBCMS 2025-5C38 Securitization) to exercise the rights granted to the Non-Directing Holder in this Agreement. If Note A-2, Note A-3, Note A-4, Note A-5 (unless Note A-5 is included in the BBCMS 2025-5C38 Securitization), Note A-6, Note A-7 or Note A-8 (unless Note A-8 is included in the BBCMS 2025-5C38 Securitization) is no longer in a Securitization, the Non-Directing Holder with respect to such Note will be the then-current Holder of such Note.