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 tenth 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.
Appears in 2 contracts
Samples: Indenture and Servicing Agreement (Creditrust Corp), Indenture and Servicing Agreement (Creditrust Corp)
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 tenth day 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.
Appears in 2 contracts
Samples: Indenture and Servicing Agreement (MCM Capital Group Inc), Indenture and Servicing Agreement (MCM Capital Group Inc)
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 following the first 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 tenth 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.
Appears in 1 contract
Samples: Indenture and Servicing Agreement (Creditrust Corp)
