Common use of Notice to Trustee of Optional Redemption Clause in Contracts

Notice to Trustee of Optional Redemption. If the Redemption Control Class desires to direct the Issuer to optionally redeem all or a part of the Class A Notes pursuant to Section 9.1, the Redemption Control Class shall notify the Trustee in writing no less than forty-five (45) days (or such shorter period as may be acceptable to the Trustee) prior to the proposed Redemption Date (which must be a Business Day). The Trustee will promptly notify the Issuer, the Collateral Manager, the Collateral Administrator and the Equity Owner or the Controlling Class, as the case may be, of the receipt of such notice. If the Equity Owner also wishes to direct the Issuer to optionally redeem the Class A Notes, it must so notify the Trustee (who shall promptly notify the Issuer and the Collateral Manager, of such direction) within ten Business Days after receipt of such notice. If the requirements of Section 9.1 for redemption have been met as evidenced by an Officer’s Certificate of the Issuer or the Collateral Manager on behalf of the Issuer, the Issuer shall effect an optional redemption in whole or in part of the Class A Notes pursuant to the procedures described herein.

Notice to Trustee of Optional Redemption. If the Redemption Control Class desires to direct the Issuer to optionally redeem all or a part of the Class A Notes pursuant to Section 9.1, the Redemption Control Class shall notify the Trustee in writing no less than forty-five (45) days (or or, in each case, such shorter period as may be acceptable to the Trustee) prior to the proposed Redemption Date (which must be a Business Day). The Trustee will promptly notify the Issuer, the Collateral Investment Manager, the Collateral Administrator and the Equity Owner or the Controlling ClassNoteholders, as the case may be, of the receipt of such notice. If the Equity Owner also wishes to direct the Issuer to optionally redeem the Class A Notes, it must so notify the Trustee (who shall promptly notify the Issuer and the Collateral Investment Manager, of such direction) within ten Business Days after receipt of such notice. If the requirements of Section 9.1 for redemption have been met (as evidenced by an Officer’s Certificate of the Issuer or the Collateral Investment Manager on behalf of the Issuer) or the consent of a Majority of the Noteholders has been obtained, the Issuer shall effect an optional redemption in whole or in part of the Class A Notes pursuant to the procedures described herein.