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. The Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 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 each case, the “New A-2 Notes”, the “New A-3 Notes”, the “New A-4 Notes” and the “New A-5 Notes”) reallocating the principal of Note A-2 among other New A-2 Notes, the principal of Note A-3 among other New A-3 Notes, the principal of Note A-4 among other New A-4 Notes and the principal of Note A-5 among other New A-5 Notes, respectively; reducing the Interest Rates of such New A-2 Notes, New A-3 Notes, New A-4 Notes and New A-5 Notes or severing Note A-2, Note A-3, Note A-4 and Note A-5 into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of Note A-2, Note A-3, Note A-4 and Note A-5, respectively, provided that (i) the aggregate principal balance of the New A-2 Notes, New A-3 Notes, New A-4 Notes and New A-5 Notes following such amendments are no greater than the principal balance of the original Note A-2, Note A-3, Note A-4 and Note A-5, respectively, prior to such amendments, (ii) all New A-2 Notes, New A-3 Notes, New A-4 Notes and New A-5 Notes continue to have the same interest rate as the original Note A-2 Note, the original Note A-3, the original Note A-4 and the original Note A-5, respectively, prior to such amendments, (iii) all New A-2 Notes, New A-3 Notes, New A-4 Notes and New A-5 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 entity holding the New A-2 Notes, the New A-3 Notes, the New A-4 Notes and/or the New A-5 Notes shall notify the parties to the Servicing Agreement and the Non-Lead Servicing Agreements 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 either of the Holders solely for the purpose of reflecting such reallocation of principal or such severing of Note A-2, Note A-3, Note A-4 and/or Note A-5 (2) if Note A-2, Note A-3, Note A-4 or Note A-5 are severed into “component” notes, such component notes shall each have their same rights as the respective original Note and (3) the defini...
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