Common use of Mandatory Decrease Clause in Contracts

Mandatory Decrease. Whenever a Series 2022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 2022-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 2022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2022-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series 2022-1 Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 2022-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2022-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit E hereto (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2022-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222024-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222024-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222024-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222024-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222024-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222024-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”)) shall be due and payable on the Weekly Allocation Date immediately following the date on which a Manager or a Co-Issuer obtains knowledge of such Series 2024-1 Class A-1 Excess Principal Event, plus in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers (iior the Managers on their behalf) any in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2024-1 Class A-1 Note Purchase Agreement. Any associated Series 20222024-1 Class A-1 Breakage Amounts incurred as a result of such decrease Mandatory Decrease (calculated in accordance with the Series 20222024-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the applicable Collection Accounts for allocation as Series 20222024-1 Class A-1 Noteholders in accordance with Notes Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20222024-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by e-mail of a .pdf PDF or other similar format file) of the need for any such Mandatory Decreases to the Trustee and the Series 2024-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222017-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. 3:00 p.m. (Eastern New York City time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222017-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222017-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2017-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222017-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222017-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222017-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222017-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222017-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2017-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”)) shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2018-1 Class A-1 Excess Principal Event, plus (ii) any in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2018-1 Class A-1 Note Purchase Agreement. Any associated Series 20222018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited in the Series 2022-1 Class A-1 Noteholders in accordance with Collection Account for allocation pursuant to the Class A-1 Order Priority of DistributionPayments. Upon obtaining knowledge of such a Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2018-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 2022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 2022-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by e-mail e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222006-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth second Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222006-1 Class A-1 Excess Principal Event, Event the Master Issuer Co-Issuers shall deposit in the Series 20222006-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2006-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222006-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessarynecessary so that, so that after giving effect to such decrease of the Series 20222006-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222006-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222006-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222006-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222006-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222006-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222006-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222006-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2006-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222006-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filefacsimile with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer Series 2006-1 Insurer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate)Series 2006-1 Class A-1 Administrative Agent.

Mandatory Decrease. Whenever a Series 2022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and the Trustee, in accordance with the information contained in the written notice delivered in accordance with the penultimate sentence of this Section 2.2(a) at least two (2) Business Days prior to the date of such deposit, shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section ‎Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 2022-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by e-mail e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and Advance Funding Providers and/or the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. 3:00 p.m. (Eastern New York City time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222019-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2019-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222019-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222019-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222019-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2019-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222011-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth second Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222011-1 Class A-1 Excess Principal Event, Event the Master Issuer Co-Issuers shall deposit in the Series 2022-1 2011-­1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2011-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222011-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessarynecessary so that, so that after giving effect to such decrease of the Series 20222011-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222011-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222011-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222011-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222011-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), ) plus (ii) any associated Series 20222011-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222011-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222011-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2011-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222011-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf facsimile or similar fileemail, with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2011-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222016-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222016-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222016-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222016-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222016-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222016-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”)) shall be due and payable on the Weekly Allocation Date that is no less than four (4) Business Days following the date on which the Manager or the Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event, plus (ii) any in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Class A-1 Note Purchase Agreement. Any associated Series 20222016-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited in the Series 2022-1 Class A-1 Noteholders in accordance with Collection Account for allocation pursuant to the Class A-1 Order Priority of DistributionPayments. Upon obtaining knowledge of such a Series 20222016-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2016-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222021-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222021-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222021-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222021-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222021-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222021-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222021-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222021-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222021-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222021-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222021-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222021-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222021-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).Series 2021-1 Class A-1

Mandatory Decrease. Whenever a Series 20222018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222018-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222018-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222018-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 20222020-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2020-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20222020-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20222020-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222017-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222017-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”)) shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 2017-1 Class A-1 Excess Principal Event, plus (ii) any in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement. Any associated Series 20222017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222017-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited in the Series 2022-1 Class A-1 Noteholders in accordance with Collection Account for allocation pursuant to the Class A-1 Order Priority of DistributionPayments. Upon obtaining knowledge of such a Series 20222017-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2017-1 Class A-1 Funding Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222018-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222018-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222018-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).the

Mandatory Decrease. Whenever a Series 20222017-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222017-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222017-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2017-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222017-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222017-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222017-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222017-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222017-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222017-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2017-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222015-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222015-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2015-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222015-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222015-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222015-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222015-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222015-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2015-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2015-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222025-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222025-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222025-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2025-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222025-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222025-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222025-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222025-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222025-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20222025-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series 2025-1 Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222025-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222025-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222025-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2025-1 Class A-1 Order of DistributionNote Purchase Agreement in accordance with Section 2.02(c) hereof. Upon obtaining knowledge of such a Series 20222025-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit E hereto (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2025-1 Class A-1 Administrative AgentAgent (with copy to the Servicer and the Back-Up Manager). In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222019-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2019-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20222019-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222019-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222019-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2019-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222020-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222020-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222020-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222020-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222020-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222020-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222019-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222019-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222019-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222019-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222019-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222021-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222021-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222021-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2021-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222021-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222021-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222021-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222021-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222021-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20222021-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series 2021-1 Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222021-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222021-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222021-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2021-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222021-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2021-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 2022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), a “Mandatory Decrease”) shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or any other required payment the Co-Issuers obtain knowledge of principal such Series 2022-1 Class A-1 Excess Principal Event, in respect accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any Note Purchase Agreement. Any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 2022-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2022-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222015-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222015-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222015-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222015-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222015-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222015-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222015-1 Class A-1 Noteholders in accordance with the Class A-1 Order of Distribution. Upon obtaining knowledge of such a Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail facsimile or e‑mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222012-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222012-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222012-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2012-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222012-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222012-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222012-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222012-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222012-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222012-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222012-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222012-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222012-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2012-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222012-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2012-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”)) shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2020-1 Class A-1 Excess Principal Event, plus (ii) any in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2020-1 Class A-1 Note Purchase Agreement. Any associated Series 20222020-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20222020-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20222020-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, necessary so that after giving effect to such decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 20222018-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute the amount of each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2018-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among the as Series 20222018-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20222018-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e-mail of a .pdf or similar filemail) of the need for any such Mandatory Decreases to the Trustee and the Series 2018-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222012-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master any Co-Issuer obtains knowledge of such Series 20222012-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers shall deposit in the Series 20222012-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2012-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222012-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222012-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222012-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222012-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222012-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222012-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222012-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222012-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222012-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2012-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222012-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar filewith original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2012-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer Co-Issuers shall reimburse the Trustee, the Servicer Trustee and the ManagerServicer, as applicable, for any unreimbursed Advances and Manager Servicing Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222007-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth third Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge discovery of such Series 20222007-1 Class A-1 Excess Principal Event, Event the Master Issuer Co-Issuers shall deposit in the Series 20222007-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2007-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222007-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222007-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222007-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222007-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222007-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222007-1 Class A-1 Notes pursuant to Section 3.6 3.7 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222007-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222007-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222007-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2007-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge discovery of such a Series 20222007-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two one (21) Business DaysDay, shall deliver written notice (which may be given by e-mail of a .pdf or similar filefacsimile with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee Trustee, each of the Series 2007-1 Class A Insurers and the Series 2007-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222015-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. 3:00 p.m. (Eastern New York City time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 20222015-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2015-1 Class A-1 Order of DistributionNote Purchase Agreement. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222015-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222015-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222015-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20222015-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 20222015-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222015-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20222015-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2015-1 Class A-1 Order of DistributionNote Purchase Agreement. Upon obtaining knowledge of such a Series 20222015-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2015-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20222025-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the Class A-1 Order of Distribution. Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20222025-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 20222025-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20222025-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20222025-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20222025-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 20222025-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and the portion thereof payable to each Series 2025-1 Class A-1 Noteholder and distribution instructions in accordance with Section 4.02 of the Series 2025-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20222025-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20222025-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the Class A-1 Order Priority of DistributionPayments on the Weekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20222025-1 Class A-1 Excess Principal Event, the Master Issuer Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by e-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2025-1 Class A-1 Administrative Agent. In connection Agent (with any Mandatory Decrease, a copy to the Master Issuer shall reimburse the Trustee, the Servicer Back-Up Manager and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest RateControl Party).