Initial Principal Payment Date Sample Clauses
Initial Principal Payment Date. The Initial Principal ------------------------------ Payment Date will be successively and automatically extended to the next Distribution Date unless the Servicer elects not to so extend the Initial Payment Date and provided that the Initial Principal Payment Date shall not be extended beyond the Class A Expected Final Payment Date. The Servicer shall effect an election not to extend the Initial Principal Payment Date by delivering a written notice (the "Notice Not to Extend") to the Trustee stating that BCI elects, effective as of a Distribution Date stated in the notice (the "Effective Distribution Date"), that the Initial Principal Payment Date not be extended beyond such Effective Distribution Date. To be effective, the Notice Not to Extend shall be delivered to the Trustee not later than the Distribution Date immediately preceding the Effective Distribution Date. Upon receipt by the Trustee of the Notice Not to Extend, the Trustee shall give notice of such election by mailing a copy of such Notice Not to Extend to each Certificateholder, BCRC and the Rating Agencies. If the Trustee receives the Notice of Election Not to Extend on or before the Distribution Date in the calendar month prior to the Effective Distribution Date, the Trustee shall mail copies of such notice as described in the preceding sentence not earlier than the first day of the Collection Period preceding the Collection Period in which the Effective Distribution Date will occur and not later than the fifth Business Day following the Distribution Date immediately preceding the Effective Distribution Date.
Initial Principal Payment Date. The Initial Principal Payment Date shall automatically be extended to the next succeeding Distribution Date after the then-current Initial Principal Payment Date unless the Transferor, as of the first day of the Monthly Period preceding the Monthly Period in which the then-current Initial Principal Payment Date occurs, elects not to cause such extension. Such election may be made by the Transferor by giving written notice thereof to the Trustee no earlier than the Distribution Date second preceding the then-current Initial Principal Payment Date and no later than the first day of the Monthly Period preceding the Monthly Period in which the then-current Initial Principal Payment Date occurs. The Transferor will cause the Trustee to provide written notice to each Certificateholder, the Servicer, each Rating Agency and the Collateral Interest Holder of any election by the Transferor not to extend the Initial Principal Payment Date. The Transferor will cause the Trustee to provide such notice not more than 60 nor less than 30 days prior to the then- current Initial Principal Payment Date.
Initial Principal Payment Date. The "Initial Principal Payment Date" for the Series 1997-3 Certificates shall be the February 2000 Distribution Date; provided, however, that the Initial Principal Payment Date shall automatically be extended to the next succeeding Class A Interest Payment Date (but not later then the Class A Expected Final Payment Date) unless the Servicer or the Trustee at the direction of the Servicer, not more than 60 days and not less than 30 days prior to the then-current Initial Principal Payment Date, mails a notice to the Sellers, the Investor Certificateholders, each Rating Agency, the Cash Collateral Depositor and any Additional Cash Collateral Depositor of the Servicer's election not to extend the Initial Principal Payment Date, in which case the Initial Principal Payment Date shall be fixed as the Class A Interest Payment Date immediately following the date of such notice. In addition, if and so long as the Series 1997-3 Certificates are listed on the Luxembourg Stock Exchange, the Trustee, or the Servicer on behalf of the Trustee, shall publish or cause to be published in an Authorized Newspaper of general circulation in Luxembourg a notice to the effect that the Servicer has elected not to extend the Initial Principal Payment Date.