Controlling Class. After the Outstanding Amount of all Classes of P&I Notes (other than the Class N Notes) has been reduced to zero, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Appears in 8 contracts
Sources: Receivables Purchase Agreement (Carvana Auto Receivables Trust 2025-P2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2025-P2), Receivables Purchase Agreement (Carvana Auto Receivables Trust 2025-P1)
Controlling Class. After the Outstanding Amount of all Classes of P&I Notes [(other than the Class N Notes) )] has been reduced to zero, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Carvana Receivables Depositor LLC)