Controlling Class. After all Classes of Notes (other than the Class N Notes and the Class XS Notes) are no longer Outstanding, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Appears in 21 contracts
Sources: Receivables Purchase Agreement (Carvana Auto Receivables Trust 2024-P2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2024-P2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2022-P3)
Controlling Class. After all Classes of Notes (other than the Class N Notes and the Class XS Notes) are no longer Outstanding, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Appears in 4 contracts
Sources: Receivables Purchase Agreement (Carvana Auto Receivables Trust 2021-N2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2021-N2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2021-N1)
Controlling Class. After all Classes of Notes [(other than the Class N Notes and the Class XS Notes) )] are no longer Outstanding, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Carvana Receivables Depositor LLC), Receivables Purchase Agreement (Carvana Receivables Depositor LLC)