Optional Early Pay Out. (a) On any Funding Change Date falling in the Revolving Period, the Seller may cause the principal portion of the Certificates to be prepaid in full or in part, (x) if the aggregate principal amount of such prepayment is greater than $150,000,000, on not less than five Business days prior written notice by the Servicer or (y) otherwise, on not less than three Business Days prior written notice by the Servicer to the Master Trust Trustee and the Administrative Agent, with Shared Principal Collections as provided in Section 4.03(e) of the Agreement; provided, however that such prepayment shall not be permitted unless all due (or if the Certificates are paid in full, all accrued) and unpaid Monthly Interest, Additional Amounts and Non-Use Fees have been paid in full.
(b) In addition, on any Business Day, the Seller may cause the principal portion of the Certificates to be prepaid in full or in part, (x) if the aggregate principal amount of such prepayment is greater than $150,000,000, on not less than five Business Days prior written notice by the Servicer or (y) otherwise, on not less than three Business Days prior written notice by the Servicer to the Master Trust Trustee and the Administrative Agent, with the proceeds from issuance of a new Series issued substantially contemporaneously with such prepayment; provided, however that such prepayment shall not be permitted unless all due (or, if the Certificates are paid in full, all accrued) and unpaid Monthly Interest, Additional Amounts and Non-Use Fees have been paid in full.
(c) Servicer shall not give notice of any prepayment pursuant to Section 1.03(a) unless the Master Trust has funds sufficient to make such prepayment on the day notice is given and shall not give notice of any prepayment pursuant to Section 1.03(b) unless the Seller has obtained binding commitments which may be subject to customary conditions from one or more persons to purchase the new series in such amounts as will yield the net proceeds necessary to make the prepayment.
Optional Early Pay Out. (a) On any Funding Change Date falling in the Revolving Period, Issuer may cause the Notes to be prepaid in full or in part, on not less than three Business Days prior written notice by the Servicer to the Indenture Trustee and the Agent, with funds on deposit in the Excess Funding Account in accordance with Section 4.6(b)(ii).
(b) In addition, on any Business Day, Issuer may cause the Notes to be prepaid in full or in part, on not less than three Business Days prior written notice by the Servicer to the Indenture Trustee and the Series 2003-VFN-B Note Holders, with the proceeds from issuance of
Optional Early Pay Out. (a) On any Funding Change Date falling in the Revolving Period, Issuer may cause the Notes to be prepaid in full or in part, on not less than three Business Days prior written notice by the Servicer to the Indenture Trustee and the Agent, with funds on deposit in the Excess Funding Account in accordance with Section 4.6(b)(ii).
(b) In addition, on any Business Day, Issuer may cause the Notes to be prepaid in full or in part, on not less than three Business Days prior written notice by the Servicer to the Indenture Trustee and the Series 2000-VFN Note Holders, with the proceeds from issuance of a new Series issued substantially contemporaneously with such prepayment or from Collections on the Receivables.
(c) The Servicer shall not give notice of any prepayment pursuant to Section 1.3(a) unless the Issuer has funds sufficient to make such prepayment on the day notice is given and shall not give notice of any prepayment pursuant to Section 1.3(b) unless the Issuer has obtained binding commitments which may be subject to customary conditions from one or more persons to purchase the new series in such amounts as will yield the net proceeds necessary to make the prepayment.
Optional Early Pay Out. (a) The Notes are subject to redemption in whole, but not in part, on any Prepayment Payment Date on which Servicer exercises its option to purchase the Receivables pursuant to Clause (b) below; provided, however, that Issuer has available funds sufficient to pay an amount (the "PREPAYMENT AMOUNT") equal to the unpaid Principal Amount of the Notes plus accrued and unpaid interest on the unpaid principal amount of the Notes (and accrued and unpaid interest with respect to interest amounts that were due but not paid on a prior Payment Date) through the day preceding the Prepayment Payment Date at the rates of interest then applicable to such Notes. Issuer shall furnish ten days' prior written notice of such redemption to Servicer, Trustee and the Rating Agencies. Upon tender of all outstanding Notes by the Noteholders, Trustee shall then pay such amounts, together with all other amounts on deposit in the Principal Funding Account to the Noteholders on the next Payment Date in repayment of the principal amount and all accrued and unpaid interest owing to the Noteholders. Following the Prepayment Payment Date, the Noteholders shall have no further rights with respect to the Receivables and Trustee shall execute and deliver the instruments of release (including any document necessary to release the security interest in favor of Trustee in the Collateral and to release any filing evidencing or perfecting the security interest), in each case without recourse, representation or warranty, as shall be reasonably requested by Issuer to vest in Issuer all right, title and interest that Trustee had in the Collateral. In the event that Servicer fails for any reason to deposit the Prepayment Amount, payments shall continue to be made to the Noteholders in accordance with the terms of this Agreement.
(b) On any Payment Date occurring on or after the date that the aggregate Unpaid Balance of the Receivables then included in the Receivables Pool is 10% or less of the aggregate Unpaid Balance of the Receivables included in the Receivables Pool as of the commencement of any Amortization Period (the "PREPAYMENT PAYMENT DATE"), Servicer shall have the option, upon the giving of twenty days' prior written notice by Servicer to Issuer, Trustee and the Rating Agencies, to purchase, without representation or warranty, all, but not less than all of the Receivables for a price at least equal to the aggregate Unpaid Balance of the Receivables; provided, however, no such purchase shall...
