Common use of Class A Optional Amortization Clause in Contracts

Class A Optional Amortization. On any Business Day in the Revolving Period or the Amortization Period, the Seller may cause the Servicer to provide notice to the Trustee and the affected Holders (an "Optional Amortization Notice") at least three 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 Certificates (a "Class A Optional Amortization") with Available Principal Collections and/or Available Shared Principal Collections on the Optional Amortization Date, in an amount (the "Class A Optional Amortization Amount") of not less than $100,000 or a higher integral multiple thereof, except that the Class A Optional Amortization Amount may equal the entire Class A Funded Amount. The Optional Amortization Notice shall state the Optional Amortization Date, the Class A Optional Amortization Amount and the allocation of such Class A Optional Amortization Amount among the various outstanding Funding Tranches. The Class A Optional Amortization Amount shall be paid from Available Principal Collections and/or Available Shared Principal Collections. Allocation of the Class A Optional Amortization Amount among the various outstanding Funding Tranches shall be at the discretion of the Seller, and accrued interest and any Class A Additional Amounts on the affected Funding Tranches 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, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw Available Principal Collections and/or Available Shared Principal Collections from the Collection Account in an aggregate amount sufficient to pay the Class A Optional Amortization Amount on that Optional Amortization Date and the Trustee, acting in accordance with such instructions, shall on such Optional Amortization Date distribute such Class A Optional Amortization Amount to the Class A Certificateholders pursuant to Section 5.1. Notwithstanding the foregoing, no Class A Optional Amortization shall be made during any Due Period if the effect of such Class A Optional Amortization would be to cause any portion of the Class A Required Amount to remain unfunded on the related Distribution Date after giving effect to all applications of funds on such Distribution Date.

Class A Optional Amortization. On any Business Day in the Revolving Period or the Amortization Period, the Seller Transferor may cause the Servicer to provide written notice to the Trustee and the affected Holders (an "Optional Amortization Notice") at least three 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 Certificates (a "Class A Optional Amortization") with Available Principal Collections and/or Available Shared Principal Collections on the Optional Amortization Date, in an amount (the "Class A Optional Amortization Amount") of not less than $100,000 1,000,000 or a higher an integral multiple of $500,000 in excess thereof, except that the Class A Optional Amortization Amount may equal the entire Class A Funded Amount. The Optional Amortization Notice shall state the Optional Amortization Date, Date and the Class A Optional Amortization Amount and the allocation of such Class A Optional Amortization Amount among the various outstanding Funding TranchesAmount. The Class A Optional Amortization Amount shall be paid from Available Principal Collections and/or Available Shared Principal Collections. Allocation of the Class A Optional Amortization Amount among the various outstanding Funding Tranches shall be at the discretion of the Seller, and accrued Accrued interest and any Class A Additional Amounts on the affected Funding Tranches in respect of any Class A Optional Amortization Amount shall be payable on the first Distribution Date on or after the related Optional Amortization Date if it is a Distribution Date, and otherwise on the next succeeding Distribution Date. On the Business Day prior to each Optional Amortization Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit BB hereto) to withdraw Available Principal Collections and/or Available Shared Principal Collections from the Collection Account in an aggregate amount sufficient to pay the Class A Optional Amortization Amount on that Optional Amortization Date and the Trustee, acting in accordance with such instructions, shall on such Optional Amortization Date distribute such Class A Optional Amortization Amount to the Class A Certificateholders pursuant to Section 5.1, or if the Conversion Date has occurred, deposit such Class A Optional Amortization Amount in the Conversion Funding Account. Notwithstanding the foregoing, no Class A Optional Amortization shall be made during any Due Period if the effect of such Class A Optional Amortization would be to cause any portion of the Class A Required Amount to remain unfunded on the related Distribution Date after giving effect to all applications of funds on such Distribution Date.