REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. The Issuer shall have the option to redeem the Notes in full on any Payment Date on or after the Payment Date on which the Note Balance is less than 10% of the Original Note Balance. The election of the Issuer to redeem the Notes pursuant to this Section shall be evidenced by delivery to the Trustee no later than the last Business Day of the month preceding the month in which the Payment Date as of which such redemption will be effected occurs of an Officer's Certificate of the Issuer stating the Issuer's intention to redeem the Notes and specifying the Redemption Amount therefor. No prepayment premium or penalty is payable with respect to any such redemption.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. The Issuer shall have the option to redeem the Notes, in whole but not in part, as to the then Outstanding Notes, on any Payment Date (the "Redemption Date") after the aggregate principal amount of the then Outstanding Notes is less than 10% of the original aggregate principal amount of the Notes, at the applicable Redemption Price plus any fees due hereunder. The Issuer shall set the Redemption Date and the Redemption Record Date and give notice thereof to the Trustee pursuant to Section 10.02 hereof. Installments of interest and principal due on or prior to a Redemption Date shall continue to be payable to the Holders of Notes called for redemption as of the relevant Record Dates according to their terms and the provisions of Section 3.07 hereof. The election of the Issuer to redeem any Notes pursuant to this Section 10.01 shall be evidenced by a Board Resolution directing the Trustee to make the payment of the applicable Redemption Price on all of the Notes to be redeemed from monies deposited with the Trustee pursuant to Section 10.04 hereof.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. (a) The Class A Bonds shall be redeemable at the option of the Issuer at the Redemption Price and, upon retirement in full of all Class A Bonds, the Class B Bonds shall be redeemable at the option of the Issuer at the Redemption Price in each case in part, on any Payment Date prior to the first Principal Payment Date, in an amount equal to any Prepayments collected by the Servicer during the related Collection Period;
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. Except as may be otherwise specified in the related Supplement, the Issuer shall have the option to redeem all of the Outstanding Notes of any Series of Notes at any time after the Outstanding Principal Amount of such Series of Notes is less than 10% of the original Outstanding Principal Amount of such Series of Notes as of the related Delivery Date, in each case at the applicable Redemption Price plus any fees due hereunder. The Issuer shall set the Redemption Date and the Redemption Record Date for a Series of Notes and give notice thereof to the Indenture Trustee pursuant to Section 10.02 hereof. Installments of interest and principal that are due regarding a Series of Notes on or prior to the related Redemption Date shall continue to be payable to the Holders of such Notes called for redemption as of the relevant Record Dates according to their terms and the provisions of Section 2.08 hereof. The election of the Issuer to redeem any Notes pursuant to this Section shall be evidenced by a Board Resolution directing the Indenture Trustee to make the payment of the Redemption Price on all of the Notes to be redeemed from monies deposited with the Indenture Trustee pursuant to Section 10.02 hereof.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. Except as may be otherwise specified in the related Supplement, the Issuer shall have the option to redeem all of the Outstanding Notes of any Series at any time after the Outstanding Principal Amount of such Series of Notes is less than 10% of the original Outstanding Principal Amount of such Series of Notes as of the related Delivery Date, in each case at the applicable Redemption Price plus any fees due hereunder and all amounts due to the Note Insurer under the related Note Insurance Agreement. Notwithstanding the foregoing, no Series of Class B Notes shall be redeemed while any Series of Class A Notes remains Outstanding without the consent of the Controlling Party. With respect to any permitted redemption of a Series of Class A Notes, the Note Insurer shall have the same option to redeem any such Series of Notes in the absence of the exercise thereof by the Issuer. The Issuer or the Note Insurer, as the case may be, shall set the Redemption Date and the Redemption Record Date for a Series of Notes and give notice thereof to the Indenture Trustee pursuant to Section 10.02 hereof.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. The Issuer shall have the option to redeem (a) at any time except as may be otherwise specified in the related Supplement, all of the Outstanding Notes of a Series of Warehouse Notes and (b) all of the Outstanding Notes of any Series of Term Notes at any time after the Outstanding Principal Amount of the Notes in such Series is less than 10% (or such other percentage as may be specified in the Specific Indenture Terms) of the original Outstanding Principal Amount of such Series of Term Notes as of the related Delivery Date, in each case at the applicable Redemption Price plus any fees due hereunder and all amounts due to MBIA under the Insurance Agreement. With respect to any redemption permitted by clause (b) above, MBIA shall have the same option to redeem any such Series of Notes in the absence of the exercise thereof by the Issuer. With respect to any Series of Warehouse Notes, MBIA shall have the option to redeem all of the Outstanding Notes of such Series at any time after the Outstanding Principal Amount of the Notes in such Series is less than 10% (or such other percentage as may be specified in the Specific Indenture Terms) of the Series Initial IPB at the time of redemption. The Issuer shall set the Redemption Date and the Redemption Record Date for a Series of Notes and give notice thereof to the Indenture Trustee pursuant to Section 10.02 hereof. Installments of interest and principal that are due regarding a Series of Notes on or prior to the related Redemption Date shall continue to be payable to the Holders of such Notes called for redemption as of the relevant Record Dates according to their terms and the provisions of Section 2.08 hereof. The election of the Issuer or MBIA to redeem any Notes pursuant to this Section shall be evidenced by a Board Resolution or written notice from MBIA, respectively, directing the Indenture Trustee to make the payment of the Redemption Price on all of the Notes to be redeemed from monies deposited with the Indenture Trustee pursuant to Section 10.04 hereof.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. (a) The Bonds shall be redeemable, at the option of the Issuer at the Redemption Price, in part, not to exceed five (5%) percent of the Aggregate Current Principal Amount of Bonds, upon Issuer Order delivered to the Trustee at any time during the 60 day period following the Closing Date.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. Except as may be otherwise specified in the related Supplement, the Issuer shall have the option to redeem all of the Outstanding Notes of any Series of Notes at any time after the Outstanding Principal Amount of such Series of Notes is less than 10% of the original Outstanding Principal Amount of such Series of Notes as of the related Delivery Date, in each case at the applicable Redemption Price plus any fees due hereunder and all amounts due to the Note Insurer under the related Note Insurance Agreement. With respect to any such permitted redemption, the Note Insurer shall have the same option to redeem any such Series of Notes in the absence of the exercise thereof by the Issuer. The Issuer or the Note Insurer, as the case may be, shall set the Redemption Date and the Redemption Record Date for a Series of Notes and give notice thereof to the Indenture Trustee pursuant to Section 10.02 hereof.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. The Issuer shall have the option to redeem the Notes in full on any Payment Date on or after (i) the Payment Date on which the Note Balance is less than 15% of the Original Note Balance or (ii) the day on which the duties of Midland Credit Management, Inc., as Servicer under this Agreement, are terminated pursuant to Section 9.02(a)(ii). The election of the Issuer to redeem the Notes pursuant to this Section shall be evidenced by delivery to the Trustee no later than the last Business Day of the month preceding the month in which the Payment Date as of which such redemption will be effected occurs of an Officer's Certificate of the Issuer stating the Issuer's intention to redeem the Notes and specifying the Redemption Amount therefor. No prepayment premium or penalty is payable with respect to any such redemption.
REDEMPTION AT THE OPTION OF THE ISSUER; ELECTION TO REDEEM. The Issuer shall have the option to redeem the Notes of any Series, in whole but not in part, as to the then Outstanding Notes of such Series, on any Payment Date (the "Redemption Date") after the aggregate principal amount of the then Outstanding Notes of such Series is less than 10% of the original aggregate principal amount of the Notes of such Series, at the applicable Redemption Price plus any fees due hereunder. The Issuer shall set the Redemption Date and the Redemption Record Date for any such Series and give notice thereof to the Trustee pursuant to Section 10.02 hereof.
