Common use of Prepayment of the Certificates Clause in Contracts

Prepayment of the Certificates. (a) The Certificates are subject to prepayment in whole, but not in part, at the direction of the Servicer pursuant to Section 9.1(a) of the Sale and Servicing Agreement, on any Distribution Date on which the Servicer exercises its option to purchase the assets of the Trust pursuant to such Section 9.1(a), and the amount paid by the Servicer shall be treated as collections of payments on the Receivables and applied to pay all amounts due to the Servicer under the Sale and Servicing Agreement plus the unpaid principal amount of the Notes plus all accrued but unpaid interest (including any overdue interest) on the Notes plus the Certificate Balance plus all accrued but unpaid interest (including any overdue interest) on the Certificates plus all amounts due to the Insurer under the Transaction Documents or the Policy. The Owner Trustee shall furnish notice of such prepayment to each Certificateholder. If the Certificates are to be prepaid pursuant to this Section 9.2(a), the Prepayment Price shall be due and payable on the Prepayment Date.

Prepayment of the Certificates. (a) The Certificates are subject to prepayment in whole, but not in part, at the direction of the Servicer pursuant to Section 9.1(a) of the Sale and Servicing Agreement, on any Distribution Date on which the Servicer exercises its option to purchase the assets of the Trust pursuant to such Section 9.1(a), and the amount paid by the Servicer shall be treated as collections of payments on the Receivables and applied to pay all amounts due to the Servicer under the Sale and Servicing Agreement plus the unpaid principal ---- amount of the Notes plus all accrued but unpaid interest (including any overdue ---- interest) on the Notes plus the Certificate Balance plus all accrued but unpaid ---- ---- interest (including any overdue interest) on the Certificates plus all amounts ---- due to the Insurer under the Transaction Documents or the Policy. The Owner Trustee shall furnish notice of such prepayment to each Certificateholder. If the Certificates are to be prepaid pursuant to this Section 9.2(a), the Prepayment Price shall be due and payable on the Prepayment Date.