Note Principal Amount Clause Samples

Note Principal Amount. As provided in the Indenture and subject to certain limitations therein set forth, Class A-3 Notes are exchangeable for new Class A-3 Notes of authorized denominations evidencing the same aggregate Class A-3 Percentage Interest, as requested by the Class A-3 Noteholder surrendering the same. Unless earlier declared, or they otherwise become, due and payable by reason of an Event of Default, the Notes are payable only at the time and in the manner provided in the Indenture and are not redeemable or prepayable before such time except that the Trust Certificate Holder will have the option, subject to certain conditions set forth in the Indenture, including the deposit of the sum specified in the Indenture, to cause early retirement of the Notes in whole as of any Payment Date following any Calculation Date on which the Aggregate Discounted Contract Principal Balance is less than 10% of the sum of the Aggregate Discounted Contract Principal Balance as of the Closing Date and the aggregate Discounted Contract Principal Balance of Subsequent Contracts as of the related Subsequent Cut-Off Date or to cause early retirement of the Notes in part as of any Payment Date following any Calculation Date on which the aggregate Discounted Contract Principal Balance of the Contracts identified in Exhibit I to the Indenture and Schedule II to any Subsequent Transfer Agreement is less than 15% of the sum of the Aggregate Discounted Contract Principal Balance for such Contracts as of the Closing Date and the Aggregate Discounted Contract Principal Balance of such Contracts as of the related Subsequent Cut-Off Date purchased by the Trust during the Pre-Funding Period. If an Event of Default as defined in the Indenture shall occur and be continuing, the principal of all the Notes may become or be declared due and payable in the manner and with the effect provided in the Indenture. No service charge will be made for any such registration of transfer or exchange, but the Indenture Trustee may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. The Servicer, the Issuer and the Indenture Trustee and any agent of any of the foregoing may treat the person in whose name this Class A-3 Note is registered as the owner hereof for all purposes, and none of the foregoing shall be affected by any notice to the contrary.