Common use of Optional Redemption; Election to Redeem Clause in Contracts

Optional Redemption; Election to Redeem. (a) The Notes may be redeemed in part by the Issuer at the Partial Redemption Price on any Payment Date on which the outstanding Pool B Aggregate Discounted Contract Balance is less than 20% of the outstanding Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Notes may be redeemed by the Issuer, in whole but not in part, at the Redemption Price on any Payment Date on which the Pool A Aggregate Discounted Contract Balance is less than 10% of the Pool A Aggregate Discounted Contract Balance as of the Closing Date and the Pool B Aggregate Discounted Contract Balance is less than 20% of the Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Issuer, by an Authorized Officer of the Managing Member, shall set the Redemption Date and the Redemption Record Date and give notice thereof to the Trustee. Notice of redemption or partial redemption having been given as provided in the Amended and Restated Indenture, the Notes shall, on the applicable Redemption Date, become due and payable at the Redemption Price or Partial Redemption Price, as applicable. The respective Noteholders shall be paid the Redemption Price or Partial Redemption Price, as applicable, by the Trustee to the extent of Available Funds on deposit in the Collection Account, and upon presentation and surrender of the Notes on behalf of the Issuer; PROVIDED, HOWEVER, that installments of principal and interest which are due on or prior to the Redemption Date shall be payable to the respective Noteholders registered as such on the relevant Record Dates or Redemption Record Dates, as applicable, according to their terms.

Optional Redemption; Election to Redeem. (a) The Notes may be redeemed in part by the Issuer at the Partial Redemption Price on any Payment Date on which the outstanding Pool B Aggregate Discounted Contract Balance is less than 20% of the outstanding Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Notes may be redeemed by the Issuer, in whole but not in part, at the Redemption Price on any Payment Date on which the Pool A Aggregate Discounted Contract Balance is less than 10% of the Pool A Aggregate Discounted Contract Balance as of the Closing Date and the Pool B Aggregate Discounted Contract Balance is less than 20% of the Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Issuer, by an Authorized Officer of the Managing MemberTransferor, shall set the Redemption Date and the Redemption Record Date and give notice thereof to the Trustee. Notice of redemption or partial redemption having been given as provided in the Amended and Restated Indenture, the Notes shall, on the applicable Redemption Date, become due and payable at the Redemption Price or Partial Redemption Price, as applicable. The respective Noteholders shall be paid the Redemption Price or Partial Redemption Price, as applicable, by the Trustee to the extent of Available Funds on deposit in the Collection Account, and upon presentation and surrender of the Notes on behalf of the Issuer; PROVIDED, HOWEVER, that installments of principal and interest which are due on or prior to the Redemption Date shall be payable to the respective Noteholders registered as such on the relevant Record Dates or Redemption Record Dates, as applicable, according to their terms.

Optional Redemption; Election to Redeem. (a) The Notes may be redeemed in part by the Issuer at the Partial Redemption Price on any Payment Date on which the outstanding Pool B Aggregate Discounted Contract Balance is less than 20% of the outstanding Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Notes may be redeemed by the Issuer, in whole but not in part, at the Redemption Price on any Payment Date on which the Pool A Aggregate Discounted Contract Balance is less than 10% of the Pool A Aggregate Discounted Contract Balance as of the Closing Date and the Pool B Aggregate Discounted Contract Balance is less than 20% of the Pool B Aggregate Discounted Contract Balance as of the Closing Date. The Issuer, by an Authorized Officer of the Managing MemberTransferor, shall set the Redemption Date and the Redemption Record Date and give notice thereof to the Trustee. Notice of redemption or partial redemption having been given as provided in the Amended and Restated Indenture, the Notes shall, on the applicable Redemption Date, become due and payable at the Redemption Price or Partial Redemption Price, as applicable. The respective Noteholders shall be paid the Redemption Price or Partial Redemption Price, as applicable, by the Trustee to the extent of Available Funds on deposit in the Collection Account, and upon presentation and surrender of the Notes on behalf of the Issuer; PROVIDEDprovided, HOWEVERhowever, that installments of principal and interest which are due on or prior to the Redemption Date shall be payable to the respective Noteholders registered as such on the relevant Record Dates or Redemption Record Dates, as applicable, according to their terms.