Common use of Early Redemption Option Clause in Contracts

Early Redemption Option. Xxxxxxx Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date at the earlier of (a) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Pool; or (b) on or after the Payment Date in December 2032, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Principal Balance Notes (without regard to any exchanges of Exchangeable Notes for MAC Notes), plus accrued and unpaid interest on the Original Notes. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Mac on Exchangeable Notes that were Original Principal Balance Notes and that were exchanged for such MAC Notes (or any MAC Notes further exchanged for other MAC Notes pursuant to Combination 4, 5, 6 or 7) will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

Early Redemption Option. Xxxxxxx Freddie Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date at the earlier of (a) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Pool; or (b) on or after the Payment Date in December 2032January 2028, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Principal Balance Notes (without regard to any exchanges of Exchangeable Notes for MAC Notes), plus accrued and unpaid interest on the Original Notesinterest. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Freddie Mac on Exchangeable Notes that were Original Principal Balance Notes and that were exchanged for such MAC Notes (or any MAC Notes further exchanged for other MAC Notes pursuant to Combination 42, 3, 4 or 5, 6 or 7) will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

Early Redemption Option. Xxxxxxx Freddie Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date at the earlier of (a) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Pool; or (b) on or after the Payment Date in December 2032, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Principal Balance Notes (without regard to any exchanges of Exchangeable Notes for MAC Notes), plus accrued and unpaid interest on the Original Notes. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Freddie Mac on Exchangeable Notes that were Original Principal Balance Notes and that were exchanged for such MAC Notes (or any MAC Notes further exchanged for other MAC Notes pursuant to Combination 4, 5, 6 or 7) will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.