Component 1 Parity Principal Payment Demands. If, after giving effect to the application of Borrower Available Funds for any Payment Date, the Component 1 Parity Ratio is greater than [***]%, the Agent shall, prior to 12:00 p.m. (New York City time) on the third Business Day prior to such Payment Date, issue a Guarantee Demand Request, as provided by the Borrower (or the Servicer on behalf of the Borrower), to the Guarantor pursuant to the procedures set forth in Sections 9.1 and 9.2 of the Guarantee Issuance Agreement in an amount equal to the Component 1 Parity Principal Payment due thereunder. Such demands will request that Guaranteed Amounts be remitted to the Guarantor Payment Account for the benefit of the Lender. To the extent the Agent receives the proceeds of such request to the Guarantor, the Agent shall remit such amounts directly to the Guarantor Payment Account.
