Common use of Second Extension Election Clause in Contracts

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii) of this Series 2022-1 Supplement, if the Series 2022-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 to elect (the “Series 2022-1 Second Extension Election”) to extend the Series 2022-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 shall become the Series 2022-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii) of this Series 20222021-1 Supplement, if the Series 20222021-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 to elect (the “Series 20222021-1 Second Extension Election”) to extend the Series 20222021-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 shall become the Series 20222021-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series 2022-1 Supplement, if the Series 20222015-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 October 2021 to elect (the “Series 20222015-1 Second Extension Election”) to extend the Series 20222015-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 October 2022 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 October 2022 shall become the Series 20222015-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series 2022-1 Supplement, if the Series 20222012-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 January 2018 to elect (the “Series 20222012-1 Second Extension Election”) to extend the Series 20222012-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 January 2019 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 January 2019 shall become the Series 20222012-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series 2022-1 Supplement, if the Series 20222017-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 July 2023 to elect (the “Series 20222017-1 Second Extension Election”) to extend the Series 20222017-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 July 2024 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 July 2024 shall become the Series 20222017-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii) of this Series 2022-1 Supplement, if the Series 20222019-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in April 2027 October 2025 to elect (the “Series 20222019-1 Second Extension Election”) to extend the Series 20222019-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in April 2028 October 2026 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in April 2028 October 2026 shall become the Series 20222019-1 Class A-1 Senior Notes Renewal Date.