Provisions Relating to Securitization Clause Samples
Provisions Relating to Securitization. (a) For so long as an Initial Note Holder or its Affiliate (an “Initial Note Holder Entity”) is the owner of its Note(s), such Initial Note Holder Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes or additional notes (in either case “New Notes”) reallocating the principal of its Note(s) or severing its Note(s) into one or more further “component” notes in the aggregate principal amount equal to the then-outstanding principal balance of its Note(s), provided that (i) the aggregate principal balance of the New Notes following such amendments is no greater than the principal balance of the related original Note(s) prior to such amendments, (ii) all New Notes continue to have the same weighted average interest rate as the original Note(s) prior to such amendments, (iii) all New Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement and (iv) the Initial Note Holder Entity holding the New Notes shall notify the other Holders (or, for any Note that has been contributed to a Securitization, to the trustee and the applicable master servicer of such Securitization) in writing of such modified allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to execute amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this Agreement) on behalf of any or all of the Holders solely for the purpose of reflecting such reallocation of principal or such severing of Note(s), (2) if a Note is severed into “component” notes, such component notes shall each have their same rights as the respective original Note (except if such original Note is Note A-1, then the applicable Initial Note Holder shall designate one of the New Notes to take the place of Note A-1 in the definitions of “Directing Holder”, “Lead Note”, “Lead Securitization”, “Non-Directing Holder” and “Servicing Agreement”), and (3) the definition of the term “Securitization” and all of the related defined terms may be amended (and new terms added, as necessary) to reflect the New Notes. Rating Agency Confirmation shall not be required for any amendments to this Agreement required to facilitate the terms of this paragraph 18(a).
(b) The Lead Note Holder agrees that it shall cause the Lead Securitization Servicing Agreement to provide as foll...
Provisions Relating to Securitization. (a) For so long as Citi or an Affiliate of Citi (the “Initial Note A-1 Holder” and the “Initial Note A-2 Holder”) is the owner of Note A-1 or Note A-2, as the case may be, then the Initial Note A-1 Holder or the Initial Note A-2 Holder, as the case may be, shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes or additional notes (“New A-1 Notes” or “New A-2 Notes”, as the case may be) reallocating the principal of Note A-1 or Note A-2, as applicable, among other New A-1 Notes or New A-2 Notes, as applicable; reducing the Mortgage Interest Rates of such New A-1 Notes or New A-2 Notes, as applicable, or severing Note A-1 or Note A-2, as applicable, into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of Note A-1 or Note A-2, as applicable, provided that (i) the aggregate principal balance of the New A-1 Notes or New A-2 Notes, as applicable, following such amendments is no greater than the principal balance of Note A-1 or Note A-2, as applicable, prior to such amendments, (ii) all New A-1 Notes or New A-2 Notes, as applicable, continue to have the same or a lower interest rate as Note A-1 or Note A-2, as applicable, prior to such amendments, (iii) all New A-1 Notes or New A-2 Notes, as applicable, pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement and (iv) the Initial Note A-1 Holder or Initial Note A-2 Holder, as the case may be, holding the New A-1 Notes or New A-2 Notes, as applicable, shall notify the other Note Holders (or, if any such other Note shall have included in a Securitization, then it shall notify the parties to the PSA governing such other Note) in writing of such modified allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to execute amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this Agreement) on behalf of any or all of the Holders solely for the purpose of reflecting such reallocation of principal, any reduction of Mortgage Interest Rates or such severing of Note A-1 or Note A-2, as the case may be, (2) if Note A-1 or Note A-2 is severed into “component” notes, such component notes shall each have their same rights as the respective original Note and (3) the definition of the term “Secur...
Provisions Relating to Securitization. (a) For so long as Note A-1 is not in a securitization, the Note A-1 Holder shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes or additional notes (in either case “New A-1 Notes”) reallocating the principal of Note A-1 among other New A-1 Notes; reducing the Interest Rates of such New A-1 Notes or severing the Note A-1 into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of Note A-1, provided that (i) the aggregate principal balance of the New A-1 Notes following such amendments is no greater than the principal balance of Note A-1 prior to such amendments, (ii) all New A-1 Notes continue to have the same or a lower interest rate as the Note A-1 prior to such amendments, (iii) all New A-1 Notes pay pro rata and
Provisions Relating to Securitization