Early Redemption Option. Xxxxxxx Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date at the earlier of (a) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Pool; or (b) on or after the Payment Date in September 2026, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Notes (without regard to any exchanges of Exchangeable Notes for MAC Notes), plus accrued and unpaid interest. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Mac on Exchangeable Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.
Early Redemption Option. Xxxxxxx Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Obligations, by paying an amount equal to the outstanding Class Principal Balance of each Class of Original Notes (without regard to any exchanges of Original Notes for MAC Notes), plus accrued and unpaid interest. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Mac on Original Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.
Early Redemption Option. Freddie Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date at the earlier of (a) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Obligations; or (b) on or after the Payment Date in January 2026, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Notes (without regard to any exchanges of Class M Notes for MAC Notes), plus accrued and unpaid interest. If on the Early Redemption Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Freddie Mac on Class M Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination.
Early Redemption Option. (a) Xxxxxx Xxx may redeem the Class 2M-1 Notes, Class 2M-2 and Class 2B-1 Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in February 2028 and (b) the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance, in each case by paying an amount equal to the outstanding Class Principal Balance, after allocation of any Tranche Write- down Amount or Tranche Write-up Amount for such Payment Date, of each of the Class 2M-1, Class 2M-2A, Class 2M-2B, Class 2M-2C and Class 2B-1 Notes, plus accrued and unpaid interest on such Notes and any related unpaid fees and expenses of the Global Agent. If on the Early Redemption Date a Class of RCR Notes is outstanding, all principal and interest amounts that are payable by Xxxxxx Mae on the Exchangeable Notes that were exchanged for such RCR Notes will be allocated to and payable on the applicable RCR Notes.
(b) Notice of optional redemption shall be given (i) by Xxxxxx Xxx to the Global Agent not less than ten Business Days nor more than 65 calendar days prior to the Payment Date of the redemption in the manner provided in Section 10(d) of the Global Agency Agreement, and
Early Redemption Option. Xxxxxxx Mac’s right to redeem the Original Notes prior to the Maturity Date on any Payment Date on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Obligations, by paying an amount equal to the outstanding Class Principal Balance, after allocation of the Calculated Tranche Write-down Amount or Calculated Tranche Write-up Amount, if any, for such Payment Date, of each Class of Original Notes
Early Redemption Option. (a) On any Payment Date on or after the Payment Date on which the aggregate unpaid balance of the Reference Obligations in Loan Group 1 is less than or equal to 10% of the Group 1 Cut-off Date Balance, Xxxxxx Xxx may, at its option, redeem the Group 1 Notes. On such Payment Date, Xxxxxx Mae shall pay 100% of the outstanding Class Principal Balance of each Class of Group 1 Notes, plus accrued and unpaid interest on such Notes, together with any related unpaid fees and expenses of the Global Agent.
(b) On any Payment Date on or after the Payment Date on which the aggregate unpaid balance of the Reference Obligations in Loan Group 2 is less than or equal to 10% of the Group 2 Cut-off Date Balance, Xxxxxx Xxx may, at its option, redeem the Group 2 Notes. On such Payment Date, Xxxxxx Mae shall pay 100% of the outstanding Class Principal Balance of each Class of Group 2 Notes, plus accrued and unpaid interest on such Notes, together with any related unpaid fees and expenses of the Global Agent.
(c) Notice of optional redemption shall be given (i) by Xxxxxx Xxx to the Global Agent not less than ten Business Days nor more than 65 calendar days prior to the Payment Date of the redemption in the manner provided in Section 10(d) of the Global Agency Agreement, and
Early Redemption Option. (a) Xxxxxx Mae may redeem the Class 1M-1 Notes, Class 1M-2 and Class 1B-1 Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in August 2027 and (b) the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations in Loan Group 1 is less than or equal to 10% of the Cut-off Date Balance, in each case by paying an amount equal to the outstanding Class Principal Balance, after allocation of any Tranche Write-down Amount or Tranche Write-up Amount for such Payment Date, of each of the Class 1M-1, Class 1M-2A, Class 1M-2B, Class 1M-2C and Class 1B-1 Notes, plus accrued and unpaid interest on such Notes and any related unpaid fees and expenses of the Global Agent. If on the Group 1 Early Redemption Date a Class of Group 1 RCR Notes is outstanding, all principal and interest amounts that are payable by Xxxxxx Xxx on the Group 1 Exchangeable Notes that were exchanged for such Group 1 RCR Notes will be allocated to and payable on the applicable Group 1 RCR Notes.
(b) Xxxxxx Mae may redeem the Class 2M-1 Notes, Class 2M-2 and Class 2B-1 Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in August 2027 and (b) the Payment Date on which the aggregate unpaid principal balance of the Reference Obligations in Loan Group 2 is less than or equal to 10% of the Cut-off Date Balance, in each case by paying an amount equal to the outstanding Class Principal Balance, after allocation of any Tranche Write-down Amount or Tranche Write-up Amount for such Payment Date, of each of the Class 2M-1, Class 2M-2A, Class 2M-2B, Class 2M-2C and Class 2B-1 Notes, plus accrued and unpaid interest on such Notes and any related unpaid fees and expenses of the Global Agent. If on the Group 2 Early Redemption Date a Class of Group 2 RCR Notes is outstanding, all principal and interest amounts that are payable by Xxxxxx Xxx on the Group 2 Exchangeable Notes that were exchanged for such Group 2 RCR Notes will be allocated to and payable on the applicable Group 2 RCR Notes.
(c) Notice of optional redemption shall be given (i) by Xxxxxx Mae to the Global Agent not less than ten Business Days nor more than 65 calendar days prior to the Payment Date of the redemption in the manner provided in Section 10(d) of the Global Agency Agreement, and
Early Redemption Option. (a) On any Payment Date on or after the Payment Date on which the aggregate unpaid balance of the Reference Obligations is less than or equal to 10% of the Cut-off Date Balance of the Reference Obligations, Freddie Mac may, at its option, redeem the Notes. On such Payment Date, Freddie Mac shall pay 100% of the outstanding Class Principal Balance of each Class of Notes, plus accrued and unpaid interest.
(b) Notice of optional redemption shall be given to Holders of the related Notes not less than 5 Business Days nor more than 60 calendar days prior to the Payment Date of the redemption in the manner provided in Section 6.09.
Early Redemption Option. Xxxxxxx Mac’s right to redeem the Notes prior to the Maturity Date on any Payment Date at the earlier of: (i) on or after the Payment Date on which the aggregate Reference Obligation Balance of the Reference Pool is less than or equal to 15% of the Cut-off Date Balance, or (ii) beginning in December 2027, on the Payment Date occurring in December of each year, by paying an amount equal to the outstanding Class Principal Balance of the Notes, after taking into account the allocation of the Calculated Tranche Write-down Amount, if any, applicable to the Notes on such Payment Date, plus accrued and unpaid interest.
Early Redemption Option. (a) On any Payment Date at the earlier of (i) on or after the Payment Date on which the aggregate unpaid principal balance of the Reference Pool is less than or equal to 15% of the Cut- off Date Balance, or (ii) beginning in December 2026, on the Payment Date occurring in December of each year, Xxxxxxx Mac may, at its option, redeem the Notes. On such Payment Date, Xxxxxxx Mac shall pay 100% of the outstanding Class Principal Balance of the Notes, after taking into account the allocation of the Calculated Tranche Write-down Amount, if any, applicable to the Notes on such Payment Date, plus accrued and unpaid interest.
(b) Notice of optional redemption shall be given to Holders of the Notes and the Operating Advisor not less than 30 calendar days nor more than 60 calendar days prior to the Payment Date of the redemption in the manner provided in Section 6.08.
