Common use of Rescission and Annulment of Amortization Events Clause in Contracts

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 1997-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 1997-1 Ownership Interest by written notice to the Custodian, the Sellers and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 1997-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period for the Series 1997-1 Ownership Interest shall resume. (3) For greater certainty, if the Unadjusted Invested Amount of the Series 1997-1 Ownership Interest has been reduced as a result of distributions made to the Series 1997-1 Co- Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulled, the Series 1997-1 Co-Owner shall be entitled to increase the Unadjusted Invested Amount of the Series 1997-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to the amount by which the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 1997-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 1997-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 1997-1 Co-Owner, except that the Series 1997-1 Co- Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (‌ 1) . Subject to Section 7.2 of the Pooling and Servicing AgreementAgreement and Section 3.1(a) of the Series 2023-2 Supplement, the Series 19972023-1 2 Co-Owner shall be entitled to rescind and annul any Amortization Event described in Section 7.1(1)(a), Section 7.1(1)(b) or Section 7.1(1)(d) in respect of the Series 19972023-1 2 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event; provided, however, that no such notice may be given in relation to the Series 2023-2 Ownership Interest on or after the Accumulation Commencement Day in respect of the Series 2023-2 Ownership Interest. The Servicer shall provide Moody’s, if Xxxxx’x is a Rating Agency, and Fitch, if Fitch is a Rating Agency, with prior written notice and DBRS, if DBRS is a Rating Agency, with ten Business Days’ prior written notice of any such annulment or rescission. (2) . If the Series 19972023-1 2 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(17.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(17.3(1), the Revolving Period for the Series 19972023-1 2 Ownership Interest shall resume. resume (3) For subject, for greater certainty, if to termination upon the Accumulation Commencement Day in respect of the Series 2023-2 Ownership Interest or earlier upon the occurrence of a further Amortization Commencement Day in respect of the Series 2023-2 Ownership Interest). 3. If the Unadjusted Invested Amount of the Series 19972023-1 2 Ownership Interest has been reduced as a result of distributions remittances made to the Series 19972023-1 Co- 2 Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulled, the Series 19972023-1 2 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972023-1 2 Ownership Interest by purchasing an Additional Ownership Interest in accordance with and subject to Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 1997-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 1997-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 1997-1 Co-Owner, except that the Series 1997-1 Co- Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) . Subject to Section 7.2 of the Pooling and Servicing AgreementAgreement and Section 3.1(a) of the Series 2024-1 Supplement, the Series 19972024-1 Co-Owner shall be entitled to rescind and annul any Amortization Event described in Section 7.1(1)(a), Section 7.1(1)(b) or Section 7.1(1)(d) in respect of the Series 19972024-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event; provided, however, that no such notice may be given in relation to the Series 2024-1 Ownership Interest on or after the Accumulation Commencement Day in respect of the Series 2024-1 Ownership Interest. The Servicer shall provide Xxxxx’x, if Xxxxx’x is a Rating Agency, and Fitch, if Fitch is a Rating Agency, with prior written notice and DBRS, if DBRS is a Rating Agency, with ten Business Days’ prior written notice of any such annulment or rescission. (2) . If the Series 19972024-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(17.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(17.3(1), the Revolving Period for the Series 19972024-1 Ownership Interest shall resume. resume (3) For subject, for greater certainty, if to termination upon the Accumulation Commencement Day in respect of the Series 2024-1 Ownership Interest or earlier upon the occurrence of a further Amortization Commencement Day in respect of the Series 2024-1 Ownership Interest). 3. If the Unadjusted Invested Amount of the Series 19972024-1 Ownership Interest has been reduced as a result of distributions remittances made to the Series 19972024-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulled, the Series 19972024-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972024-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with and subject to Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 1997-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 1997-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 1997-1 Co-Owner, except that the Series 1997-1 Co- Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 19972020-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 19972020-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 19972020-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period or Liquidation Period, as the case may be, for the Series 19972020-1 Ownership Interest Interest, shall resumeresume (subject, for greater certainty, to termination upon the occurrence of a further Amortization Commencement Day in respect of the Series 2020-1 Ownership Interest). (3) For greater certainty, if If the Unadjusted Invested Amount of the Series 19972020-1 Ownership Interest has been reduced as a result of distributions made to the Series 19972020-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulledannulled and such amounts have not been further distributed by the Series 2020-1 Co-Owner, the Series 19972020-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972020-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which which: (a) the lesser of (i) the amount that would have been the Unadjusted Invested Amount had the Amortization Commencement Day not occurred after taking into account the deposits contemplated to be made in respect of Monthly Principal Accumulation Amounts; and (ii) the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds Day, exceeds (b) the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 19972020-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 19972020-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 19972020-1 Co-Owner, except that the Series 19972020-1 Co- Co-Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 19972024-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 19972024-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 19972024-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period or Liquidation Period, as the case may be, for the Series 19972024-1 Ownership Interest Interest, shall resumeresume (subject, for greater certainty, to termination upon the occurrence of a further Amortization Commencement Day in respect of the Series 2024-1 Ownership Interest). (3) For greater certainty, if If the Unadjusted Invested Amount of the Series 19972024-1 Ownership Interest has been reduced as a result of distributions made to the Series 19972024-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulledannulled and such amounts have not been further distributed by the Series 2024-1 Co-Owner, the Series 19972024-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972024-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which which: (a) the lesser of (i) the amount that would have been the Unadjusted Invested Amount had the Amortization Commencement Day not occurred after taking into account the deposits contemplated to be made in respect of Monthly Principal Accumulation Amounts; and (ii) the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds Day, exceeds (b) the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 19972024-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 19972024-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 19972024-1 Co-Owner, except that the Series 19972024-1 Co- Co-Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 19972022-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 19972022-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 19972022-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period or Liquidation Period, as the case may be, for the Series 19972022-1 Ownership Interest Interest, shall resumeresume (subject, for greater certainty, to termination upon the occurrence of a further Amortization Commencement Day in respect of the Series 2022-1 Ownership Interest). (3) For greater certainty, if If the Unadjusted Invested Amount of the Series 19972022-1 Ownership Interest has been reduced as a result of distributions made to the Series 19972022-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulledannulled and such amounts have not been further distributed by the Series 2022-1 Co-Owner, the Series 19972022-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972022-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which which: (a) the lesser of (i) the amount that would have been the Unadjusted Invested Amount had the Amortization Commencement Day not occurred after taking into account the deposits contemplated to be made in respect of Monthly Principal Accumulation Amounts; and (ii) the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds Day, exceeds (b) the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 19972022-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 19972022-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 19972022-1 Co-Owner, except that the Series 19972022-1 Co- Co-Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 19972023-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 19972023-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 19972023-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period or Liquidation Period, as the case may be, for the Series 19972023-1 Ownership Interest Interest, shall resumeresume (subject, for greater certainty, to termination upon the occurrence of a further Amortization Commencement Day in respect of the Series 2023-1 Ownership Interest). (3) For greater certainty, if If the Unadjusted Invested Amount of the Series 19972023-1 Ownership Interest has been reduced as a result of distributions made to the Series 19972023-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulledannulled and such amounts have not been further distributed by the Series 2023-1 Co-Owner, the Series 19972023-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972023-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which which: (a) the lesser of (i) the amount that would have been the Unadjusted Invested Amount had the Amortization Commencement Day not occurred after taking into account the deposits contemplated to be made in respect of Monthly Principal Accumulation Amounts; and (ii) the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds Day, exceeds (b) the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 19972023-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 19972023-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 19972023-1 Co-Owner, except that the Series 19972023-1 Co- Co-Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.

Rescission and Annulment of Amortization Events. (1) Subject to Section 7.2 of the Pooling and Servicing Agreement, the Series 19972019-1 Co-Owner shall be entitled to rescind and annul any Amortization Event in respect of the Series 19972019-1 Ownership Interest by written notice to the Custodian, the Sellers Seller and the Servicer at any time during the Amortization Period relating to such Amortization Event. (2) If the Series 19972019-1 Co-Owner elects to rescind and annul the occurrence of an Amortization Event in accordance with Section 8.3(1), the Amortization Commencement Day shall be deemed not to have occurred and, on and after the effective date of the rescission and annulment specified in the written notice delivered in accordance with Section 8.3(1), the Revolving Period or Liquidation Period, as the case may be, for the Series 19972019-1 Ownership Interest Interest, shall resumeresume (subject, for greater certainty, to termination upon the occurrence of a further Amortization Commencement Day in respect of the Series 2019-1 Ownership Interest). (3) For greater certainty, if If the Unadjusted Invested Amount of the Series 19972019-1 Ownership Interest has been reduced as a result of distributions made to the Series 19972019-1 Co- Co-Owner in respect thereof during an Amortization Period resulting from the occurrence of an Amortization Event which is rescinded and annulledannulled and such amounts have not been further distributed by the Series 2019-1 Co-Owner, the Series 19972019-1 Co-Owner shall shall, notwithstanding Section 2.6, be entitled to increase the Unadjusted Invested Amount of the Series 19972019-1 Ownership Interest by purchasing an Additional Ownership Interest in accordance with Section 3.3 of the Pooling and Servicing Agreement in an amount equal to (and, for greater certainty, not in excess of) the amount by which which: (a) the lesser of (i) the amount that would have been the Unadjusted Invested Amount had the Amortization Commencement Day not occurred after taking into account the deposits contemplated to be made in respect of Monthly Principal Accumulation Amounts; and (ii) the Unadjusted Invested Amount on the related Amortization Commencement Day exceeds Day, exceeds (b) the Unadjusted Invested Amount on the applicable purchase date. (4) Notwithstanding the requirement to give notice under Section 8.3(1), if an Amortization Period in respect of the Series 19972019-1 Ownership Interest has commenced solely as a result of the occurrence of an Event of Default which, in turn, results in an Amortization Event specified in Section 8.1(e) and such Event of Default is subsequently rescinded and annulled in accordance with the applicable provisions of the Trust Indenture and the Series 19972019-1 Supplement, then such Amortization Event shall automatically be rescinded and annulled as of the date of the rescission and annulment of the Event of Default, without any requirement for notice or action on the part of the Series 19972019-1 Co-OwnerOwners, except that the Series 19972019-1 Co- Co-Owner shall notify the Custodian and the Servicer of such rescission and annulment prior to the earlier occurrence of the next succeeding Determination Day or Calculation Day.