Common use of Optional Redemption of Notes Clause in Contracts

Optional Redemption of Notes. The Notes are subject to redemption in whole and not in part at the option of the Issuer on any Payment Date at the Redemption Price therefor if before or after giving effect to the payment of principal otherwise required to be made on such Payment Date the Current Principal Amount of each Class of Notes outstanding (prior to allocations of any Realized Loss Amounts) equals 10% or less of the initial principal amount of such Class of Notes. Payment on the Notes pursuant to any optional redemption may be made only with Eligible Moneys. If the Issuer elects to so redeem all Notes then Outstanding, it shall, no later than 30 days prior to the Payment Date selected for such redemption, deliver notice of such election to the Trustee, together with an Issuer Order directing the Trustee to effect such redemption and the Aggregate Redemption Price due on such Payment Date for deposit into the Collection Account. All such Notes shall be due and payable on such Payment Date upon the giving of the notice thereof required by Section 10.02.

Optional Redemption of Notes. The Notes are subject to redemption in whole and not in part at the option of the Issuer on any Payment Date at the Redemption Price therefor if before or after giving effect to the payment of principal otherwise required to be made on such Payment Date the Current Outstanding Principal Amount Balance of each Class of Notes outstanding (prior to allocations of any Realized Loss Amounts) equals 10% or less of the initial principal amount of such Class of Notes. Payment on the Notes pursuant to any optional redemption may be made only with Eligible Moneys. If the Issuer elects to so redeem all Notes then Outstanding, it shall, no later than 30 days prior to the Payment Date selected for such redemption, deliver notice of such election to the Trustee, together with an Issuer Order directing the Trustee to effect such redemption and the Aggregate Redemption Price due on such Payment Date for deposit into the Collection Account. All such Notes shall be due and payable on such Payment Date upon the giving of the notice thereof required by Section 10.02.

Optional Redemption of Notes. The Notes are subject to redemption in whole and not in part at the option of the Issuer on any Payment Distribution Date at the Redemption Price therefor if before or after giving effect to the payment of principal otherwise required to be made on such Payment Distribution Date the Current Outstanding Principal Amount Balance of each Class of Notes outstanding (prior to allocations of any Realized Loss Amounts) equals 10% 101 or less of the initial principal amount of such Class of Notes. Payment on the Notes pursuant to any optional redemption may be made only with Eligible Moneys. If the Issuer elects to so redeem all Notes then Outstanding, it shall, no later than 30 days prior to the Payment Distribution Date selected for such redemption, deliver notice of such election to the TrusteeTrustee and Moody's, together with an Issuer Order directing the Trustee to effect such redemption and the Aggregate Redemption Price due on such Payment Distribution Date for deposit into the Collection Account. All such Notes shall be due and payable on such Payment Distribution Date upon the giving of the notice thereof required by Section 10.02.