Common use of Early Redemption Option Clause in Contracts

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) On Xxxxxx Mae may redeem the Class 1M-1 Notes, Class 1M-2 and Class 1B Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in March 2026 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 Group 1 Cut-off Date Balance, Xxxxxx Xxx mayin each case by paying an amount equal to the outstanding Class Principal Balance, at its option, redeem the Group 1 Notes. On after allocation of any Tranche Write- down Amount or Tranche Write-up Amount for such Payment Date, Xxxxxx Mae shall pay 100% of each of the outstanding Class Principal Balance of each 1M-1 Notes, Class of Group 1 1M-2A, Class 1M-2B and Class 1B Notes, plus accrued and unpaid interest on such Notes, together with 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 Xxx on the Exchangeable Notes that were exchanged for such RCR Notes will be allocated to and payable on the applicable RCR Notes. (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 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 in Loan Group 1 is less than or equal to 10% of the Group 1 Cut-off Date Balance, Xxxxxx Xxx Mae may, at its option, redeem the Group 1 Notes. On such Payment Date, Xxxxxx Mae Xxx 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 Mae may, at its option, redeem the Group 2 Notes. On such Payment Date, Xxxxxx Mae Xxx 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