Common use of Second Extension Election Clause in Contracts

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 2022-1 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 March 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 March 2029 by delivering written notice to the Series 2022-1 Class A-1 Administrative Agent, the Trustee and the Control Party not later than the Quarterly Payment occurring in March 2028 to the effect that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfied. Subject to Section 3.6(b)(iii), upon delivery of such notice certifying that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfied, the Quarterly Payment Date occurring in March 2029 shall become the Series 2022-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 2022-1 First Extension Election has been made and become effective, the Manager (on behalf of the IssuerCo-Issuers) shall have the option on or before the Quarterly Payment Date occurring in March June 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 March June 2029 by delivering written notice to the Series 2022-1 Class A-1 Administrative Agent, the Trustee and the Control Party not no later than the Quarterly Payment Date occurring in March June 2028 to the effect that the conditions precedent to such Series 2022-1 Second Extension Election set forth in Section 3.6(b)(iii) have been satisfied. Subject to Section 3.6(b)(iii), and upon delivery of such notice certifying that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfiedextension, the Quarterly Payment Date occurring in March June 2029 shall become the Series 2022-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 20222020-1 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 March 2028 July 2026 to elect (the “Series 20222020-1 Second Extension Election”) to extend the Series 20222020-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2029 July 2027 by delivering written notice to the Series 20222020-1 Class A-1 Administrative Agent, the Trustee and the Control Party not no later than the Quarterly Payment Date occurring in March 2028 July 2026 to the effect that the conditions precedent to such Series 20222020-1 Second Extension Election set forth in Section 3.6(b)(iii) have been satisfied. Subject to Section 3.6(b)(iii), and upon delivery of such notice certifying that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfiedextension, the Quarterly Payment Date occurring in March 2029 July 2027 shall become the Series 20222020-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 20222020-1 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 March 2028 December 2026 to elect (the “Series 20222020-1 Second Extension Election”) to extend the Series 20222020-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in March 2029 December 2027 by delivering written notice to the Series 20222020-1 Class A-1 Administrative Agent, the Trustee and the Control Party not later than the Quarterly Payment occurring in March 2028 December 2026 to the effect that the conditions precedent to such Series 20222020-1 Second Extension Election have been satisfied. Subject to Section 3.6(b)(iii), upon delivery of such notice certifying that the conditions precedent to such Series 20222020-1 Second Extension Election have been satisfied, the Quarterly Payment Date occurring in March 2029 December 2027 shall become the Series 20222020-1 Class A-1 Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii), if the Series 20222019-1 First Extension Election has been made and become effective, the Manager (on behalf of the IssuerCo-Issuers) shall have the option on or before the Quarterly Payment Date occurring in March 2028 June 2025 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 March 2029 June 2026 by delivering written notice to the Series 20222019-1 Class A-1 Administrative Agent, the Trustee and the Control Party not no later than the Quarterly Payment Date occurring in March 2028 June 2025 to the effect that the conditions precedent to such Series 20222019-1 Second Extension Election set forth in Section 3.6(b)(iii) have been satisfied. Subject to Section 3.6(b)(iii), and upon delivery of such notice certifying that the conditions precedent to such Series 2022-1 Second Extension Election have been satisfiedextension, the Quarterly Payment Date occurring in March 2029 June 2026 shall become the Series 20222019-1 Class A-1 Notes Renewal Date.