First Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, the Manager shall have the option to elect (the “Series 2022-1 First Extension Election”) to extend the Series 2022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2026 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2025 to the effect that the conditions precedent to such Series 2022-1 First Extension Election have been satisfied.
First Extension Election. Subject to the conditions set forth in Section 7.04(d), the Co-Issuers, or the Manager acting on behalf of the Co-Issuers, shall have the option on or before the Payment Date occurring in September 2024 (the “First Extension Election Date”) to elect (the “Series 2021-1 First Extension Election”) to extend the Series 2021-1 Class A-1 Anticipated Repayment Date to the Payment Date occurring in September 2025 by delivering written notice to each of the Series 2021-1 Class A-1 Administrative Agent and the Indenture Trustee to the effect that the conditions precedent to such Series 2021-1 First Extension Election set forth in Section 7.04(d) are satisfied as of the date of the notice and acknowledging that such conditions precedent to such Series 2021-1 First Extension Election set forth in Section 7.04(d) are required to be effective at the time of, and after giving effect to, such extension as a condition to the extension. Upon such extension, the Payment Date occurring in September 2025 shall become the Series 2021-1 Class A-1 Anticipated Repayment Date.
First Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), the Manager (on behalf of the Issuer) shall have the option on or before the Quarterly Payment Date occurring in December 2025 to elect (the “Series 2020-1 First Extension Election”) to extend the Series 2020-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2026 by delivering written notice to the Series 2020-1 Class A-1 Administrative Agent, the Trustee and the Control Party not later than the Quarterly Payment occurring in December 2025 to the effect that the conditions precedent to such Series 2020-1 First Extension Election have been satisfied. Subject to Section 3.6(b)(iii), upon delivery of such notice certifying that the conditions precedent to such Series 2020-1 First Extension Election have been satisfied, the Quarterly Payment Date occurring in December 2026 shall become the Series 2020-1 Class A-1 Notes Renewal Date.
First Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), the Managers (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in October 2027 to elect (the “Series 2022-1 First Extension Election”) to extend the Series 2022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in October 2028 by delivering written notice to the Series 2022-1 Class A-1 Administrative Agent, the Trustee and the Control Party to the effect that the conditions precedent to such Series 2022-1 First Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in October 2028 shall become the Series 2022-1 Class A-1 Notes Renewal Date.
First Extension Election. Subject to the conditions set forth in Section 3.6(b)(vi) of this Series Supplement, the Managers shall have the option on or before the Quarterly Payment Date occurring in July 2020 to elect (the “Series 2019-3 First Extension Election”) to extend the Series 2019-3 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in July 2021 by delivering written notice to the Administrative Agent, the Trustee and the Control Party to the effect that the conditions precedent to such Series 2019-3 First Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in July 2021 shall become the Series 2019-3 Class A-1 Notes Renewal Date; provided, further, that, in accordance with the Series 2019-3 Class A-1 Notes Fee Letter, and notwithstanding any other requirement of this Series Supplement, the Series 2019-3 First Extension Election shall be deemed to have become effective as of the Series 2019-3 Closing Date.
First Extension Election. Subject to the conditions set forth in Section 3.8(b)(iii), the Co-Issuers, shall have the option at least 30 days (but no more than 60 days) prior to the Payment Date occurring in June 2013, to elect (the “Series 2008-1 First Extension Election”) to extend the Series 2008-1 Adjusted Repayment Date to the Payment Date occurring in June 2014 (the “Series 2008-1 First Extended Scheduled Maturity Date”) by delivering written notice to the Trustee, the Administrative Agent, the Series 2008-1 Class A-2 Note Administrative Agent, the Series 2008-1 Class A-3 Note Administrative Agent and the Series 2008-1 Noteholders; provided that upon such extension, the Payment Date occurring in June 2014 shall become the Series 2008-1 Adjusted Repayment Date for all of the Series 2008-1 Notes.
First Extension Election. Subject to the conditions set forth in Section 3.6(b)(v), and so long as all outstanding Senior Debt (other than the Series 2018-1 Class A-1 Notes) is refinanced on or prior to December 31, 2019 (the “2014 Senior Debt Refinancing”), the Manager (on behalf of the Co-Issuers) shall have the option on the date of the 2014 Senior Debt Refinancing (the “Senior Debt Financing Date”) or on any Quarterly Payment Date thereafter up to and including the Quarterly Payment Date occurring in September 2021 to elect (the “Series 2018-1 First Extension Election”) to extend the Series 2018-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in September 2022 by delivering written notice to the Series 2018-1 Class A-1 Administrative Agent, the Trustee and the Control Party on the applicable date to the effect that the conditions precedent to such Series 2018-1 First Extension Election set forth in Section 3.6(b)(v) have been satisfied, and upon such extension, the Quarterly Payment Date occurring in September 2022 shall become the Series 2018-1 Class A-1 Notes Renewal Date.
First Extension Election. Subject to the conditions set forth in Section 3.7(b)(iii) of this Series Supplement, the Co-Issuers, shall have the option on or before April 15, 2012 to elect (the “Series 2007-1 First Extension Election”) to extend the Series 2007-1 Adjusted Repayment Date to April 25, 2013 (the “Series 2007-1 First Extended Anticipated Repayment Date”) by delivering written notice to the Trustee, the Series 2007-1 Class A-1 Administrative Agent, the Noteholders and each of the Series 2007-1 Class A Insurers; provided that upon such extension, April 25, 2013 shall become the Series 2007-1 Adjusted Repayment Date.
