Optional Amortization Sample Clauses
Optional Amortization. On any Business Day in the Revolving Period or the Controlled Amortization Period, Transferor may cause Servicer to provide notice to the Indenture Trustee and the Class A Administrative Agents for affected Class A Ownership Groups (an “Optional Amortization Notice”) at least two (2) Business Days prior to any Business Day (the “Optional Amortization Date”) stating its intention to cause a full or partial amortization of the Class A Notes with Available Principal Collections on the Optional Amortization Date, in full or in part, in an amount (the “Optional Amortization Amount”), which shall be allocated to the Class A Notes. The portion of the Optional Amortization Amount allocated to any Class A Ownership Group shall be in an aggregate amount not less than $1,000,000 or a higher integral multiple thereof, except that the Optional Amortization Amount allocated to any Class A Ownership Group may equal the entire Principal Balance of the related Class A Note for such Class A Ownership Group. The Optional Amortization Notice shall state the Optional Amortization Date, the Optional Amortization Amount and the allocation of such Optional Amortization Amount among the various Classes and Class A Ownership Groups. The Optional Amortization Amount shall be paid from Shared Principal Collections pursuant to Section 8.5 of the Indenture and Section 5.8. Accrued interest and any Class A Additional Amounts, payable to each affected Class A Ownership Group shall be payable on the first Distribution Date on or after the related Optional Amortization Date. On the Business Day prior to each Optional Amortization Date, Servicer shall instruct the Indenture Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw from the Collection Account and deposit in the Distribution Account, to the extent of the available funds held therein as Shared Principal Collections pursuant to Section 5.8, an amount sufficient to pay the Optional Amortization Amount on that Optional Amortization Date, and the Indenture Trustee, acting in accordance with such instructions, shall on such Business Day make such withdrawal and deposit.
Optional Amortization. Upon the occurrence of an Event of Default (other than an Event of Default described in Section 10.1(e) with respect to the Borrower), the Agent may by notice to the Borrower, declare the Termination Date to have occurred, whereupon the Aggregate Commitment shall terminate and all Collections shall be allocated and distributed pursuant to Section 3.2(b) hereof.
Optional Amortization. On any day prior to the occurrence of a Termination Event, the Transferor may in its sole discretion cause the Servicer to provide written notice to the Agent (an "Optional Amortization Notice") at least five Business Days prior to any Business Day that is the last day of a Collection Period stating its intention to cause a full amortization of the Buyers' Net Investment on the following Remittance Date (the "Optional Amortization Date") in an amount equal to the sum of (a) the Buyers' Net Investment, (b) all Aggregate Unpaids and Buyer B Amounts unpaid on such Optional Amortization Date, plus (c) if such Optional Amortization Date occurs on or before the first anniversary of the Closing Date, the amount (without duplication) specified in the Purchase Option Agreement to be paid in respect thereof (the "Optional Amortization Amount"). The Optional Amortization Notice shall state the Optional Amortization Date and the allocation of the Optional Amortization Amount among the various outstanding funding periods that mature on such Optional Amortization Date. The Optional Amortization Amount shall be paid from any Collections on deposit in the Collection Account or from the proceeds of the issuance of one or more interests in the Transferred Interest issued substantially contemporaneously with such full amortization (or any combination of the above).
Optional Amortization. On any Business Day in the Revolving Period or the Controlled Amortization Period, Transferor may cause Servicer to provide notice to Trustee and the Investors Holders (an “Optional Amortization Notice”) at least five Business Days prior to any Business Day (the “Optional Amortization Date”) stating its intention to cause a full or partial amortization of the Investor Certificates with Optional Amortization Funds and/or Shared Principal Collections on the Optional Amortization Date, in full or in part in an amount (the “Optional Amortization Amount”), which amount, so long as the Class A Certificates are outstanding shall not be less than $5,500,000 or $550,000 integral multiples in excess thereof, except that the portion of the Optional Amortization Amount allocated to any Class A Ownership Interest may equal the entire Class A Funded Amount of the related Class A Certificate. The Optional Amortization Notice shall state the Optional Amortization Date and the Optional Amortization Amount. The Optional Amortization Amount shall be paid from Optional Amortization Funds and/or Shared Principal Collections pursuant to Section 4.4. and shall be allocated (i) first, among the Class A Ownership Interests pro rata based on the Class A Funded Amounts of each Class A Ownership Interest; provided that if any Class A Funding Agent shall have provided notice to the Transferor of a Class A Additional Amount as a result of an
Optional Amortization. On any Business Day in the Revolving Period or the Controlled Amortization Period, Transferor may cause Servicer to provide notice to Trustee and the Investors Holders (an “Optional Amortization Notice”) at least five Business Days prior to any Business Day (the “Optional Amortization Date”) stating its intention to cause a full or partial amortization of the Investor Certificates with Optional Amortization Funds and/or Shared Principal Collections on the Optional Amortization Date, in full or in part in an amount (the “Optional Amortization Amount”), which amount, so long as the Class A Certificates are outstanding shall not be less than $5,500,000 or $550,000 integral multiples in excess thereof, except that the portion of the Optional Amortization Amount allocated to any Class A Ownership Interest may equal the entire Class A Funded Amount of the related Class A Certificate. The Optional Amortization Notice shall state the Optional Amortization Date and the Optional Amortization Amount. The Optional Amortization Amount shall be paid from Optional Amortization Funds and/or Shared Principal Collections pursuant to Section 4.4. and shall be allocated (i) first, among the Class A Ownership Interests pro rata based on the Class A Funded Amounts of each Class A Ownership Interest; provided that if any Class A Funding Agent shall have provided notice to the Transferor of a Class A Additional Amount as a result of an