Common use of Early Redemption Option Clause in Contracts

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.

Early Redemption Option. (a) Xxxxxx Mae may redeem the Class 1M-1 Notes1M-1, Class 1M-2 and Class 1B-1 1B Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in August 2027 April 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 Loan Group 1 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 1M-2B and Class 1B-1 1B 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.

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 November 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.

Early Redemption Option. (a) Xxxxxx Mae may redeem the Class 1M-1 Notes, Class 1M-2 and Class 1B-1 1B Notes on any Payment Date on or after the earlier to occur of (a) the Payment Date in August 2027 February 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 Loan Group 1 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-11M-1 Notes, Class 1M-2A, Class 1M-2B, Class 1M-2C 1M-2B and Class 1B-1 1B 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.