Common use of Second Extension Election Clause in Contracts

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 2018-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 2018-1 Second Extension Election”) to extend the Series 2018-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 to the effect that the conditions precedent to such Series 2018-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii3.06(b)(iii) of this Series Supplement, if the Series 20182022-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182022-1 Second Extension Election”) to extend the Series 20182022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 February 2029 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 February 2028 to the effect that the conditions precedent to such Series 20182022-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182015-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182015-1 Second Extension Election”) to extend the Series 20182015-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 June, 2022 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 June, 2021 to the effect that the conditions precedent to such Series 20182015-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement), if the Series 20182016-1 First Extension Election has been made and become effective, the Manager (on behalf of the Issuer) shall have the option on or before the Quarterly Payment Date occurring in May 2022 to elect (the “Series 20182016-1 Second Extension Election”) to extend the Series 20182016-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 May 2023 by delivering written notice to the Series 2016-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 to the effect that the conditions precedent to such Series 20182016-1 Second Extension Election have been satisfied. Upon such extension, the Quarterly Payment Date occurring in May 2023 shall become the Series 2016-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 2018-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 2018-1 Second Extension Election”) to extend the Series 2018-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March September 2025 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March September 2024 to the effect that the conditions precedent to such Series 2018-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182022-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182022-1 Second Extension Election”) to extend the Series 20182022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 2027 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 2026 to the effect that the conditions precedent to such Series 20182022-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182017-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182017-1 Second Extension Election”) to extend the Series 20182017-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 November 2024 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 November 2023 to the effect that the conditions precedent to such Series 20182017-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement), if the Series 2018-1 First Extension Election has been made and become effective, the Manager (on behalf of the Issuer) shall have the option on or before the Quarterly Payment Date occurring in December 2022 to elect (the “Series 2018-1 Second Extension Election”) to extend the Series 2018-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 December 2023 by delivering written notice to the Series 2018-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 to the effect that the conditions precedent to such Series 2018-1 Second Extension Election have been satisfied. Upon such extension, the Quarterly Payment Date occurring in December 2023 shall become the Series 2018-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182015-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182015-1 Second Extension Election”) to extend the Series 20182015-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 February, 2022 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 February, 2021 to the effect that the conditions precedent to such Series 20182015-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182019-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182019-1 Second Extension Election”) to extend the Series 20182019-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 August 2026 by delivering written notice to the Series 2019-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 August 2025 to the effect that the conditions precedent to such Series 20182019-1 Second Extension Election have been satisfied.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20182021-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20182021-1 Second Extension Election”) to extend the Series 20182021-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2025 September 2028 by delivering written notice to the Series 2021-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in March 2024 September 2027 to the effect that the conditions precedent to such Series 20182021-1 Second Extension Election have been satisfied.