Class Z Notes definition

Class Z Notes means, the £24,717,000 Class Z mortgage backed floating rate notes due 2047, constituted by the Trust Deed or the amount thereof from time to time outstanding or, as the context may require, a specific number thereof and includes the Class Z Global Note of each class (or any part thereof) and the Definitive Class Z Notes of each class (or any of them);

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Class Z Notes has the same meaning in the Trust Deed; "Class Z Noteholders" has the same meaning in the Trust Deed;

Class Z Notes. Class S Notes", "Class S VFN" and "Notes" have the same meaning as indicated in the Deed of Charge (as defined below).

Examples of Class Z Notes in a sentence

Subject thereto, for so long as any Class Z Notes are outstanding, the Note Trustee in its absolute discretion may and (if so requested in writing by the holders of not less than 25 per cent.
In these Conditions "class" shall be a reference to a class of the Notes being each or any of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the Class Z Notes, the Class S Notes or the Class S VFN, as the context may require, and "classes" shall be construed accordingly.
The Note Trust Deed contains similar provisions in relation to requests in writing or directions from Holders of a specified percentage of the Principal Amount Outstanding of each Class of Class Z Notes for the time being outstanding.
The Class Z Notes rank pari passu without preference or priority among themselves in relation to payment of interest and principal at all times, but subordinate to the Class A Notes, as provided in these Conditions and the Transaction Documents.
In respect of the Class Z Notes, the Note Trust Deed provides that, subject to Condition 11.2 (Limitation on Noteholders), a resolution which, in the opinion of the Note Trustee, affects the interests of the Class Z Noteholders only shall be deemed to have been duly passed if passed at a meeting of the Class Z Noteholders.
Accordingly, the interests of the persons who for the time being are registered in the Register as holders of Class Z Notes (the "Class Z Noteholders") will be subordinated to the interests of the persons who for the time being are registered in the Register as holders of Class A Notes (the "Class A Noteholders" (so long as any Class A Notes remain outstanding).
For the avoidance of doubt, the expression Class A Notes includes, unless the context otherwise requires, the Series 2011-2 Class A Notes and the expression Class Z Notes includes, unless the context otherwise requires, the Series 2011-2 Class Z Notes.
Losses or debits recorded on the Class Z Principal Deficiency Sub-Ledger shall be recorded in respect of the Class Z Notes.
Any reference in these Conditions to a Class shall be a reference to each class of the Class A Notes and/or the Class Z Notes, as the case may be or to the respective holders thereof.
Subject thereto, for so long as any Class Z Notes are outstanding, the Note Trustee in its absolute discretion may (and if so requested in writing by the holders of not less than 25 per cent.

More Definitions of Class Z Notes

Class Z Notes has the meaning given to it in the Trust Deed; "Clearing Systems" has the meaning given to it Condition 1(b);

Class Z Notes means the £60,967,000 Class Z mortgage backed fixed rate notes due on the Final Maturity Date;

Class Z Notes has the same meaning in the Trust Deed; "Class Z Noteholders" has the same meaning in the Trust Deed; "Closing Date" means 1 November 2023;

Class Z Notes means the €474,154,000 Class Z Residential Mortgage Backed Fixed Rate Notes due 2066 issued or due to be issued by the Issuer on the Closing Date or, as the case may be, a specific number thereof, whether represented by Notes in definitive or global form;

Class Z Notes means the Issuer's £85,400,000 Mortgage Backed Floating Rate Notes due 2047.

Class Z Notes means the Issuer's £146,800,000 Mortgage Backed Floating Rate Notes due 2049.

Related to Class Z Notes

Class E Notes has the meaning assigned to such term in the Indenture.
A Notes means each Note that has a designation starting with “A”, either individually or in the aggregate as the context may require.
B Notes means each of Note B-1, Note B-2, Note B-3 and Note B-4.
Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.
Class D Notes has the meaning assigned to such term in the Indenture.

Related to Class Z Notes

Filter & Search

Related Definitions