Common use of Early Amortization Clause in Contracts

Early Amortization. (a) If, on any date that falls 2 calendar years after the Closing Date but prior to the Scheduled Replenishment End Date, the Early Amortization Condition is satisfied, the Issuer may deliver a notice to the Noteholders, with not less than 3 Business Days' notice, that (i) beginning with the third Business Day after the delivery of such notice, an Early Amortization Period shall be in effect (each such notice, an "Early Amortization Notice"); or (ii) beginning with the immediately following Payment Date the Final Amortization Period shall be in effect (each such notice, the "Final Amortization Notice" and together with an Early Amortization Notice, each an "Amortization Notice"). (b) If the Issuer has delivered an Early Amortization Notice, the Issuer may, on any date prior to the Scheduled Replenishment End Date, (i) rescind such Early Amortization Notice upon not less than 3 Business Days' notice to each Holder, and the Early Amortization Period shall terminate on the first Business Day after such notice of rescission is delivered to the Noteholders (unless such date is the Scheduled Replenishment End Date); or (ii) deliver a notice to the Noteholders establishing a new target Credit Protection Notional Amount chosen by the Issuer in its sole discretion (the "Target CPNA") (which Target CPNA (x) shall be less than the Credit Protection Notional Amount as of date of the delivery of the Amortization Notice and (y) may be established in the Early Amortization Notice) and if, on any Business Day prior to the Scheduled Replenishment End Date the Credit Protection Notional Amount is equal to or less than such Target CPNA, the Early Amortization Notice will be deemed to be rescinded and the Early Amortization Period shall terminate on the immediately following Business Day. The Buyer shall notify the Noteholders if the Early Amortization Period is deemed to be so rescinded not later than two Business Days after the occurrence thereof; provided that, an Early Amortization Notice may not be rescinded pursuant to (i) above or deemed rescinded pursuant to (ii) above (notwithstanding the Target CPNA) if on such date the aggregate funded balances of the Eligible Obligations is less than USD2,000,000,000. (c) If an Early Amortization Period is in effect during an Interest Period and is rescinded in accordance with Section 4.13(b) during such Interest Period, the Aggregate CPT Amortization Amount with respect to such Interest Period shall be paid on the applicable Payment Date in repayment of the Aggregate Principal Balance of the Notes in accordance with Section 7.2, notwithstanding such rescission. (d) The Issuer may not rescind a Final Amortization Notice.

Early Amortization. (a) If, on any date that falls 2 calendar years after the Closing Date but prior to the Scheduled Replenishment End Date, the Early Amortization Condition is satisfied, the Issuer may deliver a notice to the NoteholdersBeneficial Owners, with not less than 3 Business Days' notice, that (i) beginning with the third Business Day after the delivery of such notice, an Early Amortization Period shall be in effect (each such notice, an "Early Amortization Notice"); or (ii) beginning with the immediately following Payment Date the Final Amortization Period shall be in effect (each such notice, the "Final Amortization Notice" and together with an Early Amortization Notice, each an "Amortization Notice"). (b) If the Issuer has delivered an Early Amortization Notice, the Issuer may, on any date prior to the Scheduled Replenishment End Date, (i) rescind such Early Amortization Notice upon not less than 3 Business Days' notice to each HolderBeneficial Owner, and the Early Amortization Period shall terminate on the first Business Day after such notice of rescission is delivered to the Noteholders Beneficial Owners (unless such date is the Scheduled Replenishment End Date); or (ii) deliver a notice to the Noteholders Beneficial Owners establishing a new target Credit Protection Notional Amount chosen by the Issuer in its sole discretion (the "Target CPNA") (which Target CPNA (x) shall be less than the Credit Protection Notional Amount as of date of the delivery of the Amortization Notice and (y) may be established in the Early Amortization Notice) and if, on any Business Day prior to the Scheduled Replenishment End Date the Credit Protection Notional Amount is equal to or less than such Target CPNA, the Early Amortization Notice will be deemed to be rescinded and the Early Amortization Period shall terminate on the immediately following Business Day. The Buyer shall notify the Noteholders Beneficial Owners if the Early Amortization Period is deemed to be so rescinded not later than two Business Days after the occurrence thereof; provided that, an Early Amortization Notice may not be rescinded pursuant to (i) above or deemed rescinded pursuant to (ii) above (notwithstanding the Target CPNA) if on such date the aggregate funded balances of the Eligible Obligations is less than USD2,000,000,000USD500,000,000. (c) If an Early Amortization Period is in effect during an Interest Period and is rescinded in accordance with Section 4.13(b) during such Interest Period, the Aggregate CPT Amortization Amount with respect to such Interest Period shall be paid on the applicable Payment Date in repayment of the Aggregate Principal Balance of the Notes in accordance with Section 7.2, notwithstanding such rescission. (d) The Issuer may not rescind a Final Amortization Notice.