Majority in Interest of Certificate Holders definition

Majority in Interest of Certificate Holders as of a particular date of determination shall mean the holders of more than a majority in aggregate unpaid Principal Amount of all Secured Certificates outstanding as of such date (excluding any Secured Certificates held by the Owner Trustee or the Owner Participant or any interests of the Owner Participant therein by reason of subrogation pursuant to Section 4.03 of the Trust Indenture (unless all Secured Certificates then outstanding shall be held by the Owner Trustee or the Owner Participant) or Lessee or any affiliate of any thereof).
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Majority in Interest of Certificate Holders has the meaning set forth in the Trust Indenture.
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Majority in Interest of Certificate Holders means, as of any date of ------------------------------------------- the determination thereof, the Majority A Holders and the Majority B Holders; provided, however, that (i) such term shall mean the Majority A -------- ------- Holders if an Indenture Event of Default shall have occurred and be continuing (unless all principal, interest, Premium Amount and all other amounts due on the Series A Certificates and to the holders thereof under the Operative Agreements shall have been theretofore paid in full) and (ii) such term shall mean the Majority B Holders in the case of any direction, demand, notice or other action in respect of the Collateral for the benefit of the holders of the Series B Certificates. For all purposes of the foregoing definition and the definition of "Majority A Holders" and "Majority B Holders", in determining as of any date the then aggregate outstanding principal amount of Certificates of any Series, there shall be excluded any Certificates, if any, held by the Owner Trustee, the Owner Participant, the Guarantors of the Series B Certificates or the Lessee or any Affiliate of any thereof (unless the Owner Trustee, the Owner Participant, the Guarantors of the Series B Certificates, the Lessee or their respective Affiliates, as the case may be, own all Certificates then outstanding), or any interest of the Owner Trustee or the Owner Participant in any Certificate or any interest of the holder of a Series B Certificate in a Series A Certificate, in either case, by reason of subrogation pursuant to Section 4.03 or otherwise.
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Examples of Majority in Interest of Certificate Holders in a sentence

  • All votes of the Certificate Holders shall be governed by a vote of a Majority in Interest of Certificate Holders, except as otherwise provided herein.

  • In the administration of the trusts created hereunder, the Indenture Trustee shall have the right to seek instructions from a Majority in Interest of Certificate Holders should any provision of this Trust Indenture appear to conflict with any other provision herein or should the Indenture Trustee's duties or obligations hereunder be unclear, and the Indenture Trustee shall incur no liability in refraining from acting until it receives such instructions.

  • Nothing in this Indenture shall impair the right of the Indenture Trustee in its discretion to take any action deemed proper by the Indenture Trustee and which is not inconsistent with the direction by the Majority in Interest of Certificate Holders.

  • Subject to the terms of Sections 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Indenture Trustee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Indenture Trustee shall be instructed in writing by a Majority in Interest of Certificate Holders.

  • In the case of the resignation or removal of the Indenture Trustee, a Majority in Interest of Certificate Holders may appoint a successor Indenture Trustee by an instrument signed by such holders, which successor, so long as no Lease Event of Default shall have occurred and be continuing, shall be subject to Lessee's reasonable approval.

  • Subject to the terms of Sections 4.02, 4.06, 5.02 and 5.03 hereof, the Indenture Trustee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Indenture Trustee shall be instructed in writing by a Majority in Interest of Certificate Holders.

  • The Indenture Trustee will execute and the Owner will file or cause to be filed such continuation statements with respect to financing statements relating to the security interest created hereunder in the Collateral as specified from time to time in written instructions of a Majority in Interest of Certificate Holders (which instructions may, by their terms, be operative only at a future date and which shall be accompanied by the form of such continuation statement so to be filed).

  • In the case of the resignation or removal of the Indenture Trustee, a Majority in Interest of Certificate Holders may appoint a successor Indenture Trustee by an instrument signed by such holders, which successor, so long as no Event of Default shall have occurred and be continuing, shall be subject to the Owner's reasonable approval.

  • In addition, a Majority in Interest of Certificate Holders may at any time remove the Indenture Trustee without cause by an instrument in writing delivered to the Owner Participant, the Owner Trustee, the Lessee and the Indenture Trustee, and the Owner Trustee shall promptly notify each Certificate Holder thereof in writing, such removal to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee.

  • Subject to the terms of Sections 4.08 and 5.03, the Indenture Trustee shall take such action, or refrain from taking such action, with respect to any such Indenture Event of Default (including with respect to the exercise of any rights or remedies hereunder) as the Indenture Trustee shall be instructed in writing by the Majority in Interest of Certificate Holders.


More Definitions of Majority in Interest of Certificate Holders

Majority in Interest of Certificate Holders means, as of any date of the determination thereof, the Holders of not less than a majority in aggregate outstanding principal amount of all Certificates as of such date. For all purposes of the foregoing definition, in determining as of any date the then aggregate outstanding principal amount of Certificates, there shall be excluded any Certificate, if any, held by the Borrower or any of its Affiliates (unless Borrower and/or its Affiliates, as the case may be, own all Certificates then outstanding).
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Majority in Interest of Certificate Holders or "Requisite Holders" as of a particular date of determination shall mean the holders of more than 66-2/3% of the aggregate unpaid original principal amount of all Loan Certificates outstanding as of such date (excluding any Loan Certificates held by the Owner Trustee or the Owner Participant or any interests of the Owner Participant therein by reason of subrogation pursuant to Section 4.3 hereof (unless all Loan Certificates then outstanding and not held by Lessee or any Affiliate thereof shall be held by the Owner Trustee or the Owner Participant) or Lessee or any affiliate of any thereof).
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Majority in Interest of Certificate Holders as of a particular date of determination shall mean the holders of more than a majority in aggregate unpaid Principal Amount of all Secured Certificates outstanding as of such date (excluding any Secured Certificates held by the Owner or its Affiliates (unless all Secured Certificates then outstanding shall be held by the Owner or its Affiliates), it being understood that a Pass Through Trustee shall not be deemed to be an Affiliate of the Owner unless 100% of the aggregate face amount of the Pass Through Certificates issued by the corresponding Pass Through Trust are held by the Owner or an Affiliate of the Owner or a Pass Through Trustee is otherwise under the control of the Owner or an Affiliate of the Owner).
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Majority in Interest of Certificate Holders as of a particular date of determination shall mean the holders of more than a majority in aggregate unpaid Principal Amount of all Secured Certificates outstanding as of such date (excluding any Secured Certificates held by the Owner or its affiliates, it being Annex A-11 understood that the Class D Trustee shall be an affiliate of the Owner as long as more than 50% in the aggregate face amount of the Pass Through Certificates issued by the Class D Pass Through Trust are held by an affiliate of the Owner or the Class D Trustee is otherwise under the control of such affiliate of the Owner (unless all Secured Certificates then outstanding shall be held by the Owner or its affiliates)).
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Majority in Interest of Certificate Holders as of a particular date of determination shall mean the holders of more than a majority in aggregate unpaid Principal Amount of all Secured Certificates outstanding as of such date (excluding any Secured Certificates held by the Owner Trustee or the Owner Participant or any interests of the Owner Participant therein by reason of subrogation pursuant to Section 4.03 hereof (unless all Secured Certificates then outstanding shall be held by the Owner Trustee or the Owner Participant) or Lessee or any affiliate of any thereof[, it being understood that the Class D Trustee shall be an affiliate of Lessee as long as more than 50% in the aggregate face amount of the Pass Through Certificates issued by the Class D Pass Through Trust are held by an affiliate of Lessee or the Class D Trustee is otherwise under the control of such affiliate of Lessee -- option for A319's and 757's]).
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Related to Majority in Interest of Certificate Holders

  • Majority in Interest of Noteholders means, as of a particular date of determination and subject to Section 2.16 of the Indenture, the holders of at least a majority in aggregate unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment Notes held by the Company or any Affiliate thereof, it being understood that a Pass Through Trustee shall be considered an Affiliate of the Company as long as more than 50% in the aggregate face amount of Pass Through Certificates issued by the corresponding Pass Through Trust are held by the Company or an Affiliate of the Company or a Pass Through Trustee is otherwise under the control of the Company or such Affiliate of the Company (unless all Equipment Notes then outstanding are held by the Company or any Affiliate thereof, including the Pass Through Trustees which are considered Affiliates of the Company pursuant hereto)); provided that for the purposes of directing any action or casting any vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the principal amount of such Equipment Note or Equipment Notes in favor of or in opposition to any such action, vote, consent, waiver or instruction.

  • Majority in Interest of Note Holders Make-Whole Amount" or "Note Holder," or the percentage of Note Holders required to take or approve any action hereunder, (ii) reduce the amount, or change the time of payment or method of calculation of any amount, of Original Amount, Make-Whole Amount, if any, or interest with respect to any Equipment Note, or alter or modify the provisions of Article III hereof with respect to the order of priorities in which distribution thereunder shall be made as among the Note Holders, the Owner Trustee and Lessee, (iii) reduce, modify or amend any indemnities in favor of the Owner Trustee, the Mortgagee or the Note Holders (except that the Owner Trustee (in its individual capacity) or the Mortgagee, as the case may be, may consent to any waiver or reduction of an indemnity payable to it) or the other Indenture Indemnitees, (iv) consent to any change in the Trust Indenture or the Lease which would permit redemption of Equipment Notes earlier than permitted under Section 2.10 or 2.11 hereof or the purchase or exchange of the Equipment Notes other than as permitted by Section 2.13 hereof, (v) except as contemplated by the Lease or the Participation Agreement, reduce the amount or extend the time of payment of Basic Rent, Stipulated Loss Value, or Termination Value for the Aircraft in each case as set forth in the Lease, or modify, amend or supplement the Lease or consent to any assignment of the Lease, in either case releasing Lessee from its obligations in respect of the payment of Basic Rent, Stipulated Loss Value or Termination Value for the Aircraft or altering the absolute and unconditional character of the obligations of Lessee to pay Rent as set forth in Sections 3 and 16 of the Lease or (vi) permit the creation of any Lien on the Trust Indenture Estate or any part thereof other than Permitted Liens or deprive any Note Holder of the benefit of the Lien of this Trust Indenture on the Trust Indenture Estate, except as provided in connection with the exercise of remedies under Article IV hereof.

  • Majority in Interest of the Members means Members whose Percentage Interests aggregate to greater than fifty percent of the Percentage Interests of all Members.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Majority in Interest of the Partners means Partners holding in the aggregate Percentage Interests that are greater than fifty percent (50%) of the aggregate Percentage Interests of all Partners entitled to Consent to or withhold Consent from a proposed action.