Optional Prepayment of Series 2016-1 Class A Notes Sample Clauses

Optional Prepayment of Series 2016-1 Class A Notes. Subject to Section 3.6(e) and (g) of this Series Supplement, the Issuers may optionally prepay the Outstanding Principal Amount of the Series 2016-1 Class A NotesOutstanding Principal Amount (an “Optional Prepayment”) in whole on any Business Day or in part on any Quarterly Payment Date (each, an “Optional Prepayment Date”), without any obligation to prepay the Notes of another Series or Tranche proportionately or otherwise, at a price equal to 100% of the aggregate principal amount of the Series 2016-1 Class A Notes prepaid plus accrued and unpaid interest, if any, to but excluding the applicable Optional pPrepayment dDate; provided that any such Optional Prepayment at any time before the applicable Class A Make-Whole End Date will also include the Class A Make-Whole Prepayment Premium and that is specified as the Series 2016-1 Prepayment Date in the applicable Prepayment Notices; provided that the Issuers shall not make any Optional Prepayment pursuant to this Section 3.6(f) in a principal amount for any single prepayment of less than $5,000,000 on any Quarterly Payment Date (except that any such prepayment may be in a principal amount less than such amount if effected on the same day as any partial mandatory prepayment or repayment pursuant to this Series Supplement); provided, further, that no such Optional Prepayment may be made unless (i) the amount allocable to the Class A-1 Series 2016-1 Class A Notes to be prepaid in accordance with the Priority of Payments on the applicable Series 2016-1 Prepayment Date is sufficient to pay the principal amount of the Class A-1 Series 2016-1 Class A Notes to be prepaid and any Class A Make-Whole Prepayment Premium required pursuant to Section 3.6(e), in each case, payable on the relevant Series 2016-1 Prepayment Date; (ii) the amount that is allocable to the Series 2016-1 Class A Outstanding Principal Amount of the Class A-1 Notes to be prepaid in accordance with the Priority of Payments is sufficient to pay the Class A Notes Accrued Quarterly Interest Amount to but excluding the relevant Series 2016-1 Prepayment Date relating to the Series 2016-1 Class A Outstanding Principal Amount of the Class A-1 Notes to be prepaid; (iii) the Issuers shall reimburse the Back-Up Manager, the Manager and the Control Party, as applicable, for any unreimbursed Collateral Protection Advances (in each case, with interest thereon at the applicable Advance Interest Rate) and all other fees and amounts then due and owing to the Back-...
Sample 1
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Optional Prepayment of Series 2016-1 Class A Notes. Subject to Section 3.6(e) and (g) of this Series Supplement, the Issuers may optionally prepay the Outstanding Principal Amount of the Series 2016-1 Class A Notes (an “Optional Prepayment”) in whole on any Business Day or in part on any Quarterly Payment Date (each, an
Sample 1

Related to Optional Prepayment of Series 2016-1 Class A Notes

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Class A Notes On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2020-1 Collection Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2020-1 Distribution Account pursuant to Section 2.5(b), (c) or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay pro rata to each Class A Noteholder from the Series 2020-1 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d), to the extent necessary to pay the Class A Controlled Distribution Amount during the Series 2020-1 Controlled Amortization Period or to the extent necessary to pay the Class A Invested Amount during the Series 2020-1 Rapid Amortization Period.

  • Class B Notes On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2015-3 Collection Account pursuant to Section 3.5(a) or amounts are deposited in the Series 2015-3 Distribution Account pursuant to Section 3.5(c) and/or (d), the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay to the Administrative Agent for the accounts of the Purchaser Groups from the Series 2015-3 Distribution Account the amount deposited therein pursuant to Section 3.5(a), (c) and/or (d) less the aggregate amount applied to make payments required pursuant to Section 3.5(e)(i), to the extent necessary to pay the Class B Controlled Distribution Amount with respect to Related Month during the Class B Controlled Amortization Period or to the extent necessary to pay the Class B Invested Amount during the Series 2015-3 Rapid Amortization Period.

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • Prepayment of the Notes In addition to the payment of the entire unpaid principal amount of the Notes at the final maturity thereof, the Company may make optional prepayments in respect of the Notes as hereinafter provided.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • Optional Prepayments with Make-Whole Amount (a) The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, any Series of the Notes, in an amount not less than 10% of the aggregate principal amount of such Series of the Notes then outstanding (but if in the case of a partial prepayment, then against each tranche within such Series of Notes in proportion to the aggregate principal amount outstanding of each tranche of such Series), at 100% of the principal amount so prepaid, together with interest accrued thereon to the date of such prepayment, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of the Series of Notes to be prepaid written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount of the Series of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of the Series of Notes to be prepaid a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

  • Payment and Prepayment of the Notes Section 8.1.

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