Common use of Class A Notes Payable on Redemption Date Clause in Contracts

Class A Notes Payable on Redemption Date. The Class A Notes to be redeemed shall, following notice of redemption as required by Section 10.2 (in the case of redemption pursuant to Section 10.1(a)), on the Redemption Date become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any period after the date to which accrued interest is calculated for purposes of calculating the Redemption Price.

Appears in 5 contracts

Samples: Credit Acceptance Corporation, Credit Acceptance Corporation, Credit Acceptance Corporation

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