Initial Class C Holder definition

Initial Class C Holder shall have the meaning assigned thereto in the preamble of this Agreement.

Initial Class C Holder means the partyHolder or beneficial owner of Class C Notes onthe Closing Date that is identified by the Issuer to the Trustee and the Collateral Manager as the Holder of the Class C Notes as of the Closing Date, for as long as such party (collectively, with its Affiliates and/or advisory accounts managed by such party) continues to hold a Majority of the Class C Notes (which, for the avoidance of doubt, may consist of a Majority of the Class C-R Notes after the 2021 Refinancing Date), as certified by such party to the Trustee at the time any determination of the Initial Class C Holder is required.

Initial Class C Holder means any person who received shares of Class C Common Stock in exchange for its shares of Series A Preferred Stock, par value $0.01 per share, of the Company pursuant to the terms of such Series A Preferred Stock.

Examples of Initial Class C Holder in a sentence

• The Initial Class C Holder shall have received an executed copy of each document described in Section 6 of the Senior Certificate Purchase Agreement (excluding Section 6(j) and the second sentence of Section 6(e) but including reliance letters on all opinions delivered to the Rating Agencies).

• The Initial Class C Holder shall have received a certificate from the Trustee, in form and substance reasonably satisfactory to it covering the incumbency and specimen signatures of its officers executing such documents.

• Sections 4.1 through 4.10 constitute conditions precedent to the obligation of the Initial Class C Holder to purchase the Class C Certificates on the Closing Date.

• The Initial Class C Holder shall have received a copy of the letter of Ernst & Young, delivered pursuant to Section 6(m) of the Senior Certificate Purchase Agreement.

• The Initial Class C Holder shall have received such additional certificates, letters or opinions as it or its counsel may reasonably request.

• Sections 3.1 through 3.4 constitute conditions precedent to the obligation of the Third Party Investors to purchase interests in the Class C Certificates from the Initial Class C Holder on the Investor Purchase Date.

• Each of the Initial Class C Holders shall have received an executed copy of each document set forth in Schedule II hereto (including reliance letters (if such Initial Class C Holder is not included as an addressee) on all opinions delivered to the Rating Agencies).

• On the Closing Date, the Initial Class C Holder shall have received from the Trustee satisfactory evidence of the establishment of the Class C Spread Account.

• On or prior to the Closing Date (i) all Series 2004-1 Certificates shall have been duly executed and authenticated and delivered in accordance with Section 6.2 of the Pooling and Servicing Agreement, (ii) the Class C Certificates shall have been delivered to the Initial Class C Holder in accordance with the terms hereof, and (iii) the Class A Certificates, Class M Certificates and Class B Certificates shall have been sold pursuant to the Senior Certificate Purchase Agreement.

• The Servicer has delivered to the Initial Class C Holder complete and correct copies of the audited consolidated balance sheet and audited consolidated statement of income of Charming Shoppes, Inc.

More Definitions of Initial Class C Holder

Initial Class C Holder means Delta 2003-1 Class C Certificate Trust, a Delaware statutory trust organized pursuant to the Class C Statutory Trust Agreement, as the sole initial purchaser and holder of the Class C Certificates.