Common use of Prepaid Contract Clause in Contracts

Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer receiving an amount (the "Prepayment Amount") less than the sum of (A) the remaining Principal Balance on the date of such prepayment and delinquent payments thereon and (B) any Unreimbursed Servicer Advances thereon (unless effectively waived and released by the Servicer), or (ii) if such early termination or full prepayment would result in the Indenture Trustee receiving a Prepayment Amount less than the amount set forth in clause (i), the Originator shall have agreed to pay the Issuer for remittance to the Indenture Trustee the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Originator also to be considered a "Prepayment Amount"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due in the related Collection Period, for distribution to the Noteholders.

Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to (a) prepay in part or (b) become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided provided, that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer Trust receiving an amount (the "Prepayment Amount") less than the sum of (A) the remaining outstanding Principal Balance on the date of such prepayment plus any accrued and delinquent unpaid interest payments thereon and (B) any Unreimbursed Servicer Advances thereon (unless effectively waived and released by the Servicer), or (ii) if such early termination or full prepayment would result in the Indenture Trustee Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Vendor or the Originator shall have agreed to pay the Issuer for remittance to the Indenture Trustee Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Vendor or Originator also to be considered a "Prepayment Amount"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due in the related Collection Period, for distribution to the Noteholders.a

Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided PROVIDED, that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer Trust receiving an amount (the "Prepayment AmountPREPAYMENT AMOUNT") less than the sum of (A) the remaining Principal Discounted Contract Balance on the Determination Date immediately prior to the date of such prepayment plus any accrued and delinquent unpaid interest payments thereon (at the Discount Rate) and (B) any Unreimbursed outstanding Servicer Advances thereon (unless effectively waived and released by the Servicer)thereon, or (ii) if such early termination or full prepayment would result in the Indenture Trustee Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Originator Vendor or the Seller shall have agreed to pay the Issuer for remittance to the Indenture Trustee Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Originator Vendor or Seller also to be considered a "Prepayment AmountPREPAYMENT AMOUNT"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due in the related Collection Period, for distribution to the Noteholders.

Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to (a) prepay in part or (b) become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer Trust receiving an amount (the "Prepayment Amount") less than the sum of (A) the remaining outstanding Principal Balance on the date of such prepayment plus any accrued and delinquent unpaid interest payments thereon and (B) any Unreimbursed Servicer Advances thereon (unless effectively waived and released by the Servicer), or (ii) if such early termination or full prepayment would result in the Indenture Trustee Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Vendor or the Originator shall have agreed to pay the Issuer for remittance to the Indenture Trustee Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Vendor or Originator also to be considered a "Prepayment Amount"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due apply each partial prepayment in the related Collection Period, for distribution to the Noteholdersaccordance with its customary and usual credit and collection policies.

Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided PROVIDED, that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer Trust receiving an amount (the "Prepayment Amount"PREPAYMENT AMOUNT') less than the sum of (A) the remaining Principal Discounted Contract Balance on the Determination Date immediately prior to the date of such prepayment plus any accrued and delinquent unpaid interest payments thereon (at the Discount Rate) and (B) any Unreimbursed outstanding Servicer Advances thereon (unless effectively waived and released by the Servicer)thereon, or (ii) if such early termination or full prepayment would result in the Indenture Trustee Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Originator Vendor or the Seller shall have agreed to pay the Issuer for remittance to the Indenture Trustee Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Originator Vendor or Seller also to be considered a "Prepayment AmountPREPAYMENT AMOUNT"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due in the related Collection Period, for distribution to the Noteholders.