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 2022-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 2022-1 Second Extension Election”) to extend the Series 2022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in December 2027 to the effect that the conditions precedent to such Series 2022-1 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 20222014-1 First Extension Election has been made and become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in September, 2020 to elect (the “Series 20222014-1 Second Extension Election”) to extend the Series 20222014-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 September, 2021 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in December 2027 September, 2020 to the effect that the conditions precedent to such Series 20222014-1 Second Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in September, 2021 shall become the Series 2014-1 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 20222017-1 First Extension Election has been made and become effective, the Manager (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in April 2023 to elect (the “Series 20222017-1 Second Extension Election”) to extend the Series 20222017-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 April 2024 by delivering written notice to each of the Series 2017-1 Class A-1 Administrative AgentAgents, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in December 2027 to the effect that the conditions precedent to such Series 20222017-1 Second Extension Election have been satisfied. Upon such extension, the Quarterly Payment Date occurring in April 2024 shall become the Series 2017-1 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 20222024-1 First Extension Election has been made and become effective, the Manager Managers (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in October 2030 to elect (the “Series 20222024-1 Second Extension Election”) to extend the Series 20222024-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 October 2031 by delivering written notice to each of the Series 2024-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in December 2027 to the effect that the conditions precedent to such Series 20222024-1 Second Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in October 2031 shall become the Series 2024-1 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 20222019-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 20222019-1 Second Extension Election”) to extend the Series 20222019-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 September 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 December 2027 September 2025 to the effect that the conditions precedent to such Series 20222019-1 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 2022-1 First Extension Election has been made and become effective, the Manager Managers (on behalf of the Co-Issuers) shall have the option on or before the Quarterly Payment Date occurring in October 2028 to elect (the “Series 2022-1 Second Extension Election”) to extend the Series 2022-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in December 2028 October 2029 by delivering written notice to each of the Series 2022-1 Class A-1 Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in December 2027 to the effect that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfied; provided that upon such extension, the Quarterly Payment Date occurring in October 2029 shall become the Series 2022-1 Class A-1 Notes Renewal Date.