Additional Collateral Amounts Clause Samples

Additional Collateral Amounts. The Transferor may, on any date (the “Additional Issuance Date”) occurring after the Closing Date and prior to the earlier of (i) the opening of business on May 1, 2007 and (ii) the last day of the Revolving Period, cause the Issuer to issue the Class A-2 Notes, the Class B Notes and the Class C-2 Notes, subject to the following limitations: (a) The issuance of Class A-2 Notes, Class B Notes and the Class C-2 Notes will cause an increase in the Collateral Amount (an “Additional Collateral Amount”) in an amount equal to the sum of the Class A-2 Note Initial Principal Balance, the Class B Note Initial Principal Balance and the Class C-2 Note Initial Principal Balance. (b) No additional Notes may be issued unless (i) the Rating Agency Condition shall have been satisfied with respect to the issuance of the additional Notes; (ii) the Transferor shall have deposited an amount equal to the Additional Cash Collateral Deposit into the Cash Collateral Account and an amount equal to the Additional Spread Account Amount into the Spread Account on the Additional Issuance Date; (iii) a Tax Opinion shall have been delivered with respect to the issuance of the additional Notes, (iv) before giving effect to such issuance, the Collateral Amount shall not be less than the Initial Collateral Amount and (v) no Trust Early Amortization Event or Series 2003-A Early Amortization Event shall have occurred and be continuing as of the Additional Issuance Date, and no event which, with the passage of time, would constitute a Trust Early Amortization Event or Series 2003-A Early Amortization Event shall have occurred and be continuing. (c) On or before the fifth Business Day immediately preceding the Additional Issuance Date, the Transferor shall give the Owner Trustee, Indenture Trustee, Servicer and each Rating Agency notice (unless such notice requirement is otherwise waived) of such issuance and Additional Issuance Date.