Common use of First Extension Election Clause in Contracts

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 7.04(d3.6(b)(iii), the Co-Issuers, or the Manager acting (on behalf of the Co-Issuers, Issuer) shall have the option on or before the Quarterly Payment Date occurring in September 2024 (the “First Extension Election Date”) July 2025 to elect (the “Series 20212020-1 First Extension Election”) to extend the Series 20212020-1 Class A-1 Anticipated Repayment Notes Renewal Date to the Quarterly Payment Date occurring in September 2025 July 2026 by delivering written notice to each of the Series 20212020-1 Class A-1 Administrative Agent Agent, the Trustee and the Indenture Trustee Control Party no later than the Quarterly Payment Date occurring in July 2025 to the effect that the conditions precedent to such Series 20212020-1 First Extension Election set forth in Section 7.04(d3.6(b)(iii) 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 ofhave been satisfied, and after giving effect to, such extension as a condition to the extension. Upon upon such extension, the Quarterly Payment Date occurring in September 2025 July 2026 shall become the Series 20212020-1 Class A-1 Anticipated Repayment Notes Renewal Date.

First Extension Election. Subject to the conditions set forth in Section 7.04(d), the Co-IssuersIssuer, or the Manager acting on behalf of the Co-IssuersIssuer, shall have the option on or before the Payment Date occurring in September 2024 (the “First Extension Election Date”) July 2026 to elect (the “Series 20212023-1 2 First Extension Election”) to extend the Series 20212023-1 2 Class A-1 Anticipated Repayment Date to the Payment Date occurring in September 2025 July 2027 by delivering written notice to each of the Series 20212023-1 2 Class A-1 Administrative Agent Agent, the Indenture Trustee, the Servicer and the Indenture Trustee Back-Up Manager to the effect that the conditions precedent to such Series 20212023-1 2 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 20212023-1 2 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 July 2027 shall become the Series 20212023-1 2 Class A-1 Anticipated Repayment Date.