Common use of Clean-up Call Option Clause in Contracts

Clean-up Call Option. 12.1 The Seller will have the right at its option, but not the obligation, to require the Issuer to exercise the Clean-Up Call Option and to repurchase the Purchased Receivables from the Issuer at any time when the Aggregate Discounted Receivables Balances of all outstanding Purchased Receivables is less than 10 per cent. of the Maximum Discounted Receivables Balance, provided that all payment obligations under the Notes, and any obligations ranking pari passu with or senior to the Notes in the Order of Priority, will be met in full on the exercise of such option. The Seller shall give one month prior written notice of its intention to require the exercise of the Clean-Up Call Option. Such notice shall be published in accordance with Condition 11 (Notices) of the Notes (the " Clean-Up Call Option Notice") and, in addition shall be published in the Servicer Report.

Clean-up Call Option. 12.1 14.1 The Seller will have the right at its option, but not the obligation, to require the Issuer to exercise the Clean-Up Call Option and to repurchase the Purchased Receivables from the Issuer at any time when the Aggregate Discounted Receivables Balances of all outstanding Purchased Receivables is less than 10 per cent. of the Maximum Discounted Receivables Balance, provided that all payment obligations under the NotesInstruments, and any obligations ranking pari passu with or senior to the Notes Instruments in the Order of Priority, will be met in full on the exercise of such option. The Seller shall give one month prior written notice of its intention to require the exercise of the Clean-Up Call Option. Such notice shall be published in accordance with Condition 11 9 (Notices) of the Notes Instruments (the " "Clean-Up Call Option Notice") and, in addition shall be published in the Servicer Report.

Clean-up Call Option. 12.1 The Seller will have the right at its option, but not the obligation, to require the Issuer to exercise the Clean-Up Call Option and to repurchase the Purchased Receivables from the Issuer at any time when the Aggregate Discounted Receivables Balances of all outstanding Purchased Receivables is less than 10 per cent. of the Maximum Aggregate Discounted Receivables BalanceBalance as of the Initial Cut-Off Date, provided that all payment obligations under the Notes, and any obligations ranking pari passu with or senior to the Notes in the Order of Priority, will be met in full on the exercise of such option. The Seller shall give one month prior written notice of its intention to require the exercise of the Clean-Up Call Option. Such notice shall be published in accordance with Condition 11 (Notices) of the Notes (the " "Clean-Up Call Option Notice") and, in addition shall be published in the Servicer Report.

Clean-up Call Option. 12.1 The Seller will have the right at its option, but not the obligation, to require the Issuer to exercise the Clean-Up Call Option and to repurchase the Purchased Receivables from the Issuer at any time when the Aggregate Discounted Receivables Balances of all outstanding Purchased Receivables is less than 10 per cent. of the Maximum Aggregate Discounted Receivables BalanceBalance as of the Initial Cut-Off Date, provided that all payment obligations under the Notes, and any obligations ranking pari passu with or senior to the Notes in the Order of Priority, will be met in full on the exercise of such option. The Seller shall give one month prior written notice of its intention to require the exercise of the Clean-Up Call Option. Such notice shall be published in accordance with Condition 11 (Notices) of the Notes (the " Clean-Up Call Option Notice") and, in addition shall be published in the Servicer Report.