Change of Control

Change of Control

Any event resulting in a change in the power, directly or indirectly, to direct or cause the direction of the management or policies of a Seller/Servicer or other entity, whether through ownership or transfer of securities, by contract or otherwise. For purposes of this definition, ownership includes both direct ownership and beneficial ownership as determined under Rule 13d-3 under the Securities Exchange Act of 1934. A Change of Control includes: Any person or group acquiring beneficial ownership of, or voting control over, 5% or more of the entity's voting securities or ownership interests; or A change in the majority of the entity's board of directors (or equivalent governing body) within 24 months