Common use of Sale of Collateral for Notes that are Accelerated or Reach Legal Maturity Clause in Contracts

Sale of Collateral for Notes that are Accelerated or Reach Legal Maturity. (a) (i) If a Tranche of CHASEseries Notes has been accelerated pursuant to Section 6.02 of the Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Holders of more than 66 2⁄3% of the Outstanding Dollar Principal Amount of that Tranche of CHASEseries Notes will, cause the Collateral Agent for Asset Pool One to sell Collateral (or interests therein) pledged to Asset Pool One in a principal amount up to 105% of the Nominal Liquidation Amount of the affected Tranche (but not more than an amount of Collateral equal to the sum of (1) the product of (A) the Asset Pool One Transferor Percentage, (B) the aggregate outstanding Asset Pool One Pool Balance and (C) a fraction, the numerator of which is the CHASEseries Floating Allocation Percentage and the denominator of which is the sum of the Noteholder Percentages for the allocation of Asset Pool One Finance Charge Collections for all Series of Asset Pool One Notes, and (2) the Nominal Liquidation Amount of the affected Tranche); provided, however, that none of the Transferor, any Affiliate of the Transferor or any agent of the Transferor shall be permitted to purchase Collateral in such case or to participate in such vote whether as a Noteholder or otherwise.

Sale of Collateral for Notes that are Accelerated or Reach Legal Maturity. (a) (i) If a Tranche of CHASEseries Notes has been accelerated pursuant to Section 6.02 of the Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Holders of more than 66 2⁄3% 66⅔% of the Outstanding Dollar Principal Amount of that Tranche of CHASEseries Notes will, cause the Collateral Agent for Asset Pool One to sell Collateral (or interests therein) pledged to Asset Pool One in a principal amount up to 105% of the Nominal Liquidation Amount of the affected Tranche (but not more than an amount of Collateral equal to the sum of (1) the product of (A) the Asset Pool One Transferor Percentage, (B) the aggregate outstanding Asset Pool One Pool Balance and (C) a fraction, the numerator of which is the CHASEseries Floating Allocation Percentage and the denominator of which is the sum of the Noteholder Percentages for the allocation of Asset Pool One Finance Charge Collections for all Series of Asset Pool One Notes, and (2) the Nominal Liquidation Amount of the affected Tranche); provided, however, that none of the Transferor, any Affiliate of the Transferor or any agent of the Transferor shall be permitted to purchase Collateral in such case or to participate in such vote whether as a Noteholder or otherwise.