Mandatory Prepayment for Servicer Default Sample Clauses
Mandatory Prepayment for Servicer Default. Upon the occurrence of a Servicer Default (unless otherwise waived in accordance with the Servicing Agreement and except for a CAI Servicer Default), the Borrower shall be required to make a mandatory prepayment of the Notes in an amount equal to the then remaining Aggregate Maximum Guaranteed Payment (and payment to the Agent by the Guarantor shall be deemed to be a prepayment by the Borrower). In connection with any prepayment made in accordance with the provisions of this Section 2.7(c), the Borrower shall be required to pay, contemporaneously with such prepayment, an amount equal to the sum of (i) accrued interest on the principal balance being prepaid, calculated through the date of such prepayment, and (ii) any Funding Losses incurred as the result of such prepayment.
Mandatory Prepayment for Servicer Default. Upon the occurrence of a Servicer Default (unless otherwise waived in accordance with the Servicing Agreement and except for a CAI Servicer Default), the Borrower shall be required to make a mandatory prepayment of:
(i) the Class A Notes in an amount equal to the lesser of (x) the then Aggregate Class A Note Principal Balance and (y) the then remaining Aggregate Maximum Guaranteed Payment; and
(ii) after giving effect to the prepayment of the Class A Notes described in clause (i), the Class B Notes in an amount equal to the lesser of (x) the then Aggregate Class B Note Principal Balance and (y) the then remaining Aggregate Maximum Guaranteed Payment (after giving effect to the payment of the Class A Notes made pursuant to clause (i) above). Any payment made by the Parent Guarantor to the Agent pursuant to the terms of the Parent Guaranty as the consequence of a Servicer Default shall be deemed to be a prepayment by the Borrower. In connection with any prepayment made in accordance with the provisions of this Section 2.7(c), the Borrower shall be required to pay, contemporaneously with such prepayment, an amount equal to the sum of (i) accrued interest on the principal balance being prepaid, calculated through the date of such prepayment, and (ii) any Funding Losses incurred as the result of such prepayment.