Common use of Reduction of Class B Principal Amount Clause in Contracts

Reduction of Class B Principal Amount. (i) HVF III, upon three (3) Business Days’ notice to the Program Agent, each Class B Funding Agent, each Class B Conduit Investor and each Class B Committed Note Purchaser, may effect a reduction (but without prejudice to HVF III’s right to effect a Class B Investor Group Principal Increase with respect to any Class B Investor Group or add any Class B Additional Investor Group in the future, in each case in accordance with Section 2.1 (Initial Purchase; Additional Series 2021-A Notes)) of the Class B Principal Amount and a corresponding reduction of each Class B Investor Group Principal Amount; provided that, with respect to any such reduction effected pursuant to this clause (i), A. any such reduction must be in a minimum amount of $25,000,000, B. after giving effect to such reduction and any reduction to the Class A Maximum Principal Amount, the condition set forth in Section 2.5(d) (Conditions to Repayment) shall be satisfied, and C. after giving effect to such reduction, the Class B Principal Amount equals or exceeds $50,000,000, unless reduced to zero. (ii) Any reduction made pursuant to this Section 2.5(b) (Reduction of Class B Principal Amount) shall be made ratably among the Class B Investor Groups on the basis of their respective Class B Investor Group Principal Amounts. No later than one (1) Business Day following any reduction of the Class B Principal Amount becoming effective, the Program Agent shall revise Schedule IV to reflect such reduction, which revision, for the avoidance of doubt, shall not require the consent of the Trustee or any Series 2021-A Noteholder.

Reduction of Class B Principal Amount. (i) HVF III, upon three (3) Business Days’ notice to the Program Agent, each Class B Funding Agent, each Class B Conduit Investor and each Class B Committed Note Purchaser, may effect a reduction (but without prejudice to HVF III’s right to effect a Class B Investor Group Principal Increase with respect to any Class B Investor Group or add any Class B Additional Investor Group in the future, in each case in accordance with Section 2.1 (Initial Purchase; Additional Series 2021-A Notes)) of the Class B Principal Amount and a corresponding reduction of each Class B Investor Group Principal Amount; provided that, with respect to any such reduction effected pursuant to this clause (i), A. any such reduction must be in a minimum amount of $25,000,00025.0 million, B. after giving effect to such reduction and any reduction to the Class A Maximum Principal Amount, the condition set forth in Section 2.5(d) (Conditions to Repayment) shall be satisfied, and C. after giving effect to such reduction, the Class B Principal Amount equals or exceeds $50,000,00050.0 million, unless reduced to zero. (ii) Any reduction made pursuant to this Section 2.5(b) (Reduction of Class B Principal Amount) shall be made ratably among the Class B Investor Groups on the basis of their respective Class B Investor Group Principal Amounts. No later than one (1) Business Day following any reduction of the Class B Principal Amount becoming effective, the Program Agent shall revise Schedule IV to reflect such reduction, which revision, for the avoidance of doubt, shall not require the consent of the Trustee or any Series 2021-A Noteholder.