Examples of Majority Controlling Class Certificateholder in a sentence
Such notice shall set forth the process established by the Trustee for selecting a Controlling Class Representative, which process may include the designation of the Controlling Class Representative by the Majority Controlling Class Certificateholder by a writing delivered to the Trustee.
The Agreement permits, but does not require, a Master Servicer, the Special Servicer or the Majority Controlling Class Certificateholder to purchase from the Trust Fund all Mortgage Loans and any REO Properties remaining therein.
Such notice shall set forth the process for selecting a Controlling Class Representative, which shall be the designation of the Controlling Class Representative by the Majority Controlling Class Certificateholder by a writing delivered to the Certificate Administrator.
Such notice shall set forth the process established by the Trustee for selecting a Controlling Class Representative, which process may include the designation of the Controlling Class Representative by the related Majority Controlling Class Certificateholder by a writing delivered to the Trustee.
The undersigned Option Holder [is the Special Servicer] [is the Majority Controlling Class Certificateholder] [is __________________________] [acquired its Purchase Option from the [Special Servicer] [Majority Controlling Class Certificateholder] on _________.] The undersigned Option Holder is exercising its Purchase Option at the cash price of $______________, which amount equals or exceeds the related Option Price, as defined in Section 3.18(c) of the Pooling and Servicing Agreement.
Viewing that evidence in the light most favorable to C-III, it ultimately may support a finding that C3 Initial Assets mistakenly believed that the Designation Power was vested in the Majority Controlling Class Certificateholder, not that C3 Initial Assets held the view that the ARA is not to be considered when calculating Voting Rights for purposes of the Designation Power.
C-III also notes that losing the Designation Power does not leave the Controlling Class helpless to protect its interests, as the Majority Controlling Class Certificateholder retains the right to appoint the Controlling Class Representative,117 who has a qualified veto power over the Special Servicer.118Thus, C-III asserts that its proposed interpretation is supported by both the text and purpose of the PSA.
The undersigned Option Holder [is the Special Servicer] [is the Majority Controlling Class Certificateholder] [acquired its Purchase Option from the [Special Servicer] [Majority Controlling Class Certificateholder] on _________].
The Majority Controlling Class Certificateholder may request that earthquake insurance be secured for one or more Mortgaged Properties at the expense of the Majority Controlling Class Certificateholder.
PSA § 1.01 (definitions of ―Controlling Class‖ and ―Controlling Class Representative‖).Voting Rights definition expressly lists three circumstances under which the ARA is not to be considered for purposes of calculating Voting Rights, namely, when determining the Controlling Class, the Controlling Class Representative, or the Majority Controlling Class Certificateholder.