Common use of LETTER OF CREDIT PROVIDERS Clause in Contracts

LETTER OF CREDIT PROVIDERS. The Servicer shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that the long-term debt credit rating of any Series 1999-1 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1" as determined by Moodx'x. Xx such time the Servicer shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 1999-1 Required Enhancement Amount over the Series 1999-1 Enhancement Amount, excluding the available amount under the Series 1999-1 Letter of Credit issued by such Series 1999-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 1999-1 Required Liquidity Amount over the Series 1999-1 Liquidity Amount, excluding the available amount under such Series 1999-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 1999-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 1999-1 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 1999-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992003-1 4 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xXxxxx'x or (ii) the short-term senior unsecured debt credit rating of any Series 2003-4 Letter of Credit Provider has fallen below "A-1" as determined by Standard & Poor's or "P-1" as determined by Xxxxx'x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992003-1 4 Required Enhancement Amount over the Series 19992003-1 4 Enhancement Amount, excluding the available amount under the Series 19992003-1 4 Letter of Credit issued by such Series 19992003-1 4 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992003-1 4 Required Liquidity Amount over the Series 19992003-1 4 Liquidity Amount, excluding the available amount under such Series 19992003-1 4 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992003-1 4 Letter of Credit on such date. CONFORMED COPY Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992003-1 4 Letter of Credit in an amount equal to the lesser of the amount amounts in clause (i) or and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992003-1 4 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992002-1 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xMoody's or (ii) the short-term senior unsecured debt credit rating of xxx Series 2002-1 Letter of Credit Provider has fallen below "P-1" as determined by Moody's. Xx At such time the Servicer Administrator shall also notify the Trustee of Trxxxxx xf (i) the greater of (A) the excess, if any, of the Series 19992002-1 Required Enhancement Amount over the Series 19992002-1 Enhancement Amount, excluding the available amount under the Series 19992002-1 Letter of Credit issued by such Series 19992002-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992002-1 Required Liquidity Amount over the Series 19992002-1 Liquidity Amount, excluding the available amount under such Series 19992002-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992002-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992002-1 Letter of Credit in an amount equal to the lesser of the amount amounts in clause (i) or and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992002-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19991998-1 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xXxxxx'x or (ii) the short-term senior unsecured debt credit rating of any Series 1998-1 Letter of Credit Provider has fallen below "P-1" as determined by Xxxxx'x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19991998-1 Required Enhancement Amount over the Series 19991998-1 Enhancement Amount, excluding the available amount under the Series 19991998-1 Letter of Credit issued by such Series 19991998-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19991998-1 Required Liquidity Amount over the Series 19991998-1 Liquidity Amount, excluding the available amount under such Series 19991998-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19991998-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19991998-1 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19991998-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992008-1 Letter of Credit Provider has fallen below "A+" “A” as determined by Standard & Poor's ’s or "“A1" ” as determined by Moodx'xXxxxx’x or (ii) the short-term senior unsecured debt credit rating of any Series 2008-1 Letter of Credit Provider has fallen below “A-1” as determined by Standard & Poor’s or “P-1” as determined by Xxxxx’x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992008-1 Required Enhancement Amount over the Series 19992008-1 Enhancement Amount, excluding the available amount under the Series 19992008-1 Letter of Credit issued by such Series 19992008-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992008-1 Required Liquidity Amount over the Series 19992008-1 Liquidity Amount, excluding the available amount under such Series 19992008-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992008-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. noon (New York City time) on the next following Business Day), draw on such Series 19992008-1 Letter of Credit in an amount equal to the lesser of the amount amounts in clause (i) or and clause (ii) of the immediately preceding sentence sen­tence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992008-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992003-1 3 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xMoody's or (ii) the short-term senior unsecured debt credit rating of any Series 2003-3 Letter of CONFORMED COPY Credit Provider has fallen below "A-1" as determined by Standard & Poor's or "P-1" as determined by Moody's. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992003-1 3 Required Enhancement Amount over the Series 19992003-1 3 Enhancement Amount, excluding the available amount under the Series 19992003-1 3 Letter of Credit issued by such Series 19992003-1 3 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992003-1 3 Required Liquidity Amount over the Series 19992003-1 3 Liquidity Amount, excluding the available amount under such Series 19992003-1 3 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992003-1 3 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992003-1 3 Letter of Credit in an amount equal to the lesser of the amount amounts in clause (i) or and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992003-1 3 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992001-1 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xXxxxx'x or (ii) the short-term senior unsecured debt credit rating of any Series 2001-1 Letter of Credit Provider has fallen below "P-1" as determined by Xxxxx'x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992001-1 Required Enhancement Amount over the Series 19992001-1 Enhancement Amount, excluding the available amount under the Series 19992001-1 Letter of Credit issued by such Series 19992001-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992001-1 Required Liquidity Amount over the Series 19992001-1 Liquidity Amount, excluding the available amount under such Series 19992001-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992001-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992001-1 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992001-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19991997-1 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xMoody's or (ii) the short-term senior unsecured debt credit rating of any Series 1997-1 Letter of Credit Provider has fallen below "P-1" as determined by Moody's. Xx At such time the Servicer Administrator shall also notify the Trustee Txxxxxx of (i) the greater of (A) the excess, if any, of the Series 19991997-1 Required Enhancement Amount over the Series 19991997-1 Enhancement Amount, excluding the available amount under the Series 19991997-1 Letter of Credit issued by such Series 19991997-1 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19991997-1 Required Liquidity Amount over the Series 19991997-1 Liquidity Amount, excluding the available amount under such Series 19991997-1 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19991997-1 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19991997-1 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19991997-1 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that the long-term debt credit rating of any Series 19992002-1 2 Letter of Credit Provider has fallen below "A+AA-" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xMoody's. Xx At such time the Servicer shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992002-1 2 Required Enhancement Amount over the Series 19992002-1 2 Enhancement Amount, excluding the available amount under the Series 19992002-1 2 Letter of Credit issued by such Series 19992002-1 2 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992002-1 2 Required Liquidity Amount over the Series 19992002-1 2 Liquidity Amount, excluding the available amount under such Series 19992002-1 2 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992002-1 2 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992002-1 2 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992002-1 2 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992009-1 2 Letter of Credit Provider has fallen below "A+" “A1” as determined by Standard & Poor's Mxxxx’x or "A1" (ii) the short-term senior unsecured debt credit rating of any Series 2009-2 Letter of Credit Provider has fallen below “P-1” as determined by Moodx'xMxxxx’x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992009-1 2 Required Enhancement Amount over the Series 19992009-1 2 Enhancement Amount, excluding the available amount under the Series 19992009-1 2 Letter of Credit issued by such Series 19992009-1 2 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992009-1 2 Required Liquidity Amount over the Series 19992009-1 2 Liquidity Amount, excluding the available amount under such Series 19992009-1 2 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992009-1 2 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. noon (New York City time) on the next following Business Day), draw on such Series 19992009-1 2 Letter of Credit in an amount equal to the lesser of the amount amounts in clause (i) or and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992009-1 2 Cash Collateral Account.

LETTER OF CREDIT PROVIDERS. The Servicer Administrator shall notify the Trustee and the Surety Provider in writing within one Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Series 19992000-1 3 Letter of Credit Provider has fallen below "A+" as determined by Standard & Poor's or "A1Al" as determined by Moodx'xXxxxx'x or (ii) the short-term senior unsecured debt credit rating of any Series 2000-3 Letter of Credit Provider has fallen below "P-1" as determined by Xxxxx'x. Xx At such time the Servicer Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 19992000-1 3 Required Enhancement Amount over the Series 19992000-1 3 Enhancement Amount, excluding the available amount under the Series 19992000-1 3 Letter of Credit issued by such Series 19992000-1 3 Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 19992000-1 3 Required Liquidity Amount over the Series 19992000-1 3 Liquidity Amount, excluding the available amount under such Series 19992000-1 3 Letter of Credit, on such date, and (ii) the amount available to be drawn on such Series 19992000-1 3 Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 p.m. (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 p.m. (New York City time) on the next following Business Day), draw on such Series 19992000-1 3 Letter of Credit in an amount equal to the lesser of the amount in clause (i) or clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 19992000-1 3 Cash Collateral Account.