Non-Lead Securitization Subordinate Class Representative definition

Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.
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Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in the Securitization of the Non-Lead Securitization Note designated as the “controlling class” pursuant to the Non-Lead Securitization Servicing Agreement or their duly appointed representative.
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Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if more than 50% of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of “controlling class” is held by any Borrower Affiliate, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative under this Agreement or the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement; provided that in the event that no controlling class exists or no controlling class has any consent or consultation rights pursuant to the terms of the related Non-Lead Securitization Servicing Agreement, the Non-Lead Securitization Subordinate Class Representative shall be the Non-Lead Special Servicer for such Non-Lead Securitization and shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative under this Agreement or the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.
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More Definitions of Non-Lead Securitization Subordinate Class Representative

Non-Lead Securitization Subordinate Class Representative means the “controlling class representative” as defined in any Non-Lead Securitization Servicing Agreement or such other analogous term used in any Non-Lead Securitization Servicing Agreement.
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Non-Lead Securitization Subordinate Class Representative means, with respect to any Non-Lead Securitization Note, the holders of the majority of the class of securities issued in a related Non-Lead Securitization designated as the “controlling class”, if any, pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of such “controlling class” is held by the Mortgage Loan Borrower or a Borrower Affiliate, there shall be deemed to be no related Non-Lead Securitization Subordinate Class Representative.
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Non-Lead Securitization Subordinate Class Representative means (i) with respect to Note A-2, the holders of the majority of the class of securities issued in the Note A-2 Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement for the Note A-2 Securitization or their duly appointed representative and (ii) “controlling class representative” under and as defined in the Lead Securitization Servicing Agreement, and (ii) with respect to Note A-4, the holders of the majority of the class of securities issued in the Note A-4 Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement for the Note A-4 Securitization or their duly appointed representative.
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Related to Non-Lead Securitization Subordinate Class Representative

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

  • Non-Lead Securitization Noteholder herein shall mean the Non-Lead Securitization Subordinate Class Representative under the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer) has been given written notice. The Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party exercising the rights of a “Non-Lead Securitization Noteholder” herein or under the Servicing Agreement and, to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than one party, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement shall designate one party to deal with the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer acting on its behalf) (such party, the “Non-Lead Securitization Noteholder Representative”); provided that, in the absence of such designation and notice, the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received written notice as having been designated as the Non-Lead Securitization Noteholder Representative with respect to such Non-Controlling Note for all purposes of this Agreement. Prior to Securitization of any Non-Lead Securitization Note by the Non-Lead Securitization Noteholder (including any New Notes), all notices, reports, information or other deliverables required to be delivered to such Non-Lead Securitization Noteholder pursuant to this Agreement or the Servicing Agreement by the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) only need to be delivered to each Non-Lead Securitization Noteholder Representative and, when so delivered to each Non-Lead Securitization Noteholder Representative, the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Servicing Agreement. Following Securitization of any Non-Lead Securitization Notes by the Non-Lead Securitization Noteholder, all notices, reports, information or other deliverables required to be delivered to such Non-Lead Securitization Noteholder pursuant to this Agreement or the Servicing Agreement by the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered to the related Non-Lead Master Servicer and the related Non-Lead Special Servicer (who then may forward such items to the party entitled to receive such items as and to the extent provided in the related Non-Lead Securitization Servicing Agreement) and, when so delivered to the related Non-Lead Master Servicer and the related Non-Lead Special Servicer, the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Servicing Agreement.

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

  • Non-Lead Securitization Date means the closing date of any Non-Lead Securitization.

  • Lead Securitization Noteholder means the holder of the Lead Securitization Note.

  • Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

  • Lead Securitization Directing Certificateholder means the “Directing Certificateholder” as defined in the Lead Securitization Servicing Agreement.

  • Lead Securitization Date means the closing date of the Lead Securitization.

  • Class Representative means the named Plaintiff in the operative complaint in the Action seeking Court approval to serve as a Class Representative.

  • Non-Lead Securitization Note Holder Representative means the “Directing Certificateholder” or equivalent Person under the Non-Lead Securitization Servicing Agreement.

  • Non-Lead Securitization Note Holder means any holder of a Non-Lead Securitization Note.

  • Controlling Noteholder means as of any date of determination (i) the Note B Holder, unless a Control Appraisal Period has occurred and is continuing or (ii) if a Control Appraisal Period has occurred and is continuing, the Lead Securitization Noteholder; provided that at any time the Lead Securitization Noteholder is the Controlling Noteholder and the Lead Securitization Note is included in the Lead Securitization, references to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling class” (or such other party designated under the terms of the Servicing Agreement to exercise the rights of the “Controlling Noteholder” hereunder), as and to the extent provided in the Servicing Agreement; provided, further, that if any Noteholder would be the Controlling Noteholder pursuant to the terms hereof but any interest in the Note of such Noteholder is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, or the Mortgage Loan Borrower or Mortgage Loan Borrower Related Party would otherwise be entitled to exercise the rights of the Controlling Noteholder, a Control Appraisal Period shall be deemed to have occurred with respect to such Noteholder. As of the Closing Date, the Controlling Noteholder is the Note B Holder.

  • Lead Securitization Note Holder Representative means the “Directing Certificateholder” or equivalent Person under the Lead Securitization Servicing Agreement.

  • Lead Securitization Note Holder means the holder of the Lead Securitization Note.

  • Non-Lead Securitization Note means any Note other than the Lead Securitization Note.

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.