Group II Controlling Noteholders definition
Group II Controlling Noteholders means the Group II Senior Noteholders, until such time as all Group II Senior Notes have been paid in full, and then the Class II-B Noteholders, until the Class II-B Notes have been paid in full, and then the Class II-C Noteholders, until the Class II-C Notes have been paid in full. Notwithstanding the foregoing, any Group II Notes owned by KBNA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
Group II Controlling Noteholders means the [Group II] Senior Noteholders, until such time as all [Group II] Senior Notes have been paid in full, and then the [Class II-B] Noteholders, until the [Class II-B] Notes have been paid in full, and then the [Class II-C] Noteholders, until the [Class II-C] Notes have been paid in full. Notwithstanding the foregoing, any [Group II] Notes owned by KBNA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the [Group II] Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
Group II Controlling Noteholders means the Group II Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable.
Examples of Group II Controlling Noteholders in a sentence
If a sale of either the Group I or Group II Student Loans is not consummated in accordance with the foregoing, the Indenture Trustee may, (or shall, at the written direction of the Group I or Group II Controlling Noteholders, as applicable), solicit bids to purchase the Group I or Group II Student Loans, as the case may be, on future Distribution Dates upon terms similar to those described above.
Notwithstanding anything to the contrary contained in this Indenture, such rights of consent granted to the Holders of the Notes contained in clauses (i) through (viii) of this proviso shall not be exercisable by the [Group I] Controlling Noteholders on behalf of all of the [Group I] Noteholders or by the [Group II] Controlling Noteholders on behalf of all of the [Group II] Noteholders.
More Definitions of Group II Controlling Noteholders
Group II Controlling Noteholders means the Group II Senior Noteholders (until such time as all Group II Senior Notes have been paid in full, and then the Group II Subordinate Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable; provided that, unless a Securities Insurer Default has occurred and is continuing, the Securities Insurer shall exercise the rights of all holders of each Class Group II Notes for which payments are insured by the Securities Insurer; provided further that the Class II-[ ] Notes shall at all times be entitled to voting rights equal to 1% of the Group II Senior Notes.
Group II Controlling Noteholders means the Group II Senior Noteholders (until such time as all Group II Senior Notes have been paid in full, and then the Group II Subordinate Noteholders. Notwithstanding the foregoing, any Group II Notes owned by KBUSA, the Depositor or any of their respective Affiliates or agents designated for such purpose, shall be not voted by such entity nor considered in determining any specified voting percentage of the Group II Controlling Noteholders, unless otherwise set forth in the Indenture or the Sale and Servicing Agreement, as applicable; provided that, unless a Securities Insurer Default has occurred and is continuing, the Securities Insurer shall exercise the rights of all holders of each Class Group II Notes for which payments are insured by the Securities Insurer; provided further that the Class II-A-IO Notes shall at all times be entitled to voting rights equal to 1% of the Group II Senior Notes.