Note Majority definition

Note Majority means a majority by principal amount of the Noteholders.

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Note Majority means the Holders collectively evidencing more than 50% of the aggregate outstanding Note Balance for each Class of Notes.

Note Majority. As to each class of Notes, Holders of Notes representing a majority of the outstanding principal balance of such class of Notes.

Examples of Note Majority in a sentence

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Seller under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the Note Majority and the Certificateholder.
So long as no Insurer Default shall have occurred and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing, the Note Majority) may, on behalf of all Noteholders, waive any default by the Servicer in the performance of its obligations hereunder and its consequences.
Notwithstanding the above, if the Backup Servicer shall be legally unable or unwilling to act as Servicer, and an Insurer Default shall have occurred and be continuing, the Backup Servicer, the Trust Collateral Agent or a Note Majority may petition a court of competent jurisdiction to appoint any Eligible Servicer as the successor to the Servicer.
Notwithstanding the above, if the Backup Servicer shall be legally unable or unwilling to act as Servicer, and an Insurer Default shall have occurred and be continuing, the Backup Servicer, the Trust Collateral Agent or a Note Majority may petition a court of competent jurisdiction to appoint any eligible servicer as the successor to the Servicer.
If a Servicer Termination Event shall occur and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing either the Trust Collateral Agent, (to the extent it has knowledge thereof) or a Note Majority), by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Insurer or the Noteholders) may terminate all of the rights and obligations of the Servicer under this Agreement.

More Definitions of Note Majority

Note Majority. With respect to Agented Notes, the holders of the notes evidencing not less than 66 2/3% of the outstanding amount of all such notes issued by the Obligor.

Note Majority means the Holders collectively evidencing more than 50% of the aggregate outstanding Note Balance for each Class of Notes. “Note Paying Agent” has the meaning assigned to such term in the Indenture.

Note Majority means Holders representing a majority of the Outstanding Principal Amount of each Class of the Notes then Outstanding.

Note Majority means the Holders of Notes evidencing a majority of the Outstanding Amount of the Notes.

Note Majority means, as to each Class of Notes, Holders of Notes ------------- representing a majority of the Principal Balance of such Class of Notes.

Note Majority means the Holders evidencing more than 50% of the Class A-1 Note Balance and Holders evidencing more than 50% of the Class A-2 Note Balance.

Note Majority means the Holders of a majority in outstanding principal ------------- amount of the Notes.

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