Common use of Seller’s Optional Reduction of Total Investment Clause in Contracts

Seller’s Optional Reduction of Total Investment. Subject to Sections 1.2(a) and 4.3, Seller may at any time and from time to time elect to reduce (in whole or in part) Total Investment as follows: (i) Seller shall give Administrative Agent and each Purchaser Agent a Notice of Payment with respect to such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction will commence) no later than 11:00 a.m. (New York City time) three (3) Business Days prior to the proposed reduction date; (ii) on the proposed date of commencement of such reduction and on each day thereafter, Servicer shall refrain from reinvesting Collections pursuant to Section 1.3 until the amount thereof not so reinvested shall equal the desired amount of reduction; and (iii) Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as provided in Section 1.3; provided that (A) the amount of any such reduction shall be not less than $5,000,000 and shall be an integral multiple of $100,000; and (B) Seller shall use reasonable efforts to choose a reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period.

Seller’s Optional Reduction of Total Investment. Subject to Sections 1.2(a) and 4.3, Seller may at any time and from time to time elect to reduce (in whole or in part) Total Investment as follows: (i) Seller shall give Administrative Agent and each Purchaser Agent a Notice of Payment with respect to such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction will commence) no later than 11:00 a.m. (New York City time) three (3) Business Days prior to the proposed reduction date; (ii) on the proposed date of commencement of such reduction and on each day thereafter, Servicer shall refrain from reinvesting Collections pursuant to Section 1.3 until the amount thereof not so reinvested shall equal the desired amount of reduction; and (iii) Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as provided in Section 1.3; provided that (A) the amount of any such reduction shall be not less than $5,000,000 and shall be an integral multiple of $100,000; and (B) Seller shall use reasonable efforts to choose a reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period.. 749037980

Seller’s Optional Reduction of Total Investment. Subject to Sections 1.2(a) and 4.3, Seller may at any time and from time to time elect to reduce (in whole or in part) Total Investment as follows: (i) Seller shall give Administrative Agent and each Purchaser Agent a Notice prior written notice of Payment with respect to such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction will commence) no later than 11:00 a.m. (New York City time) three (3) Business Days prior to the proposed reduction date; (ii) on the proposed date of commencement of such reduction and on each day thereafter, Servicer shall refrain from reinvesting Collections pursuant to Section 1.3 until the amount thereof not so reinvested shall equal the desired amount of reduction; and (iii) Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as provided in Section 1.3; provided that (A) the amount of any such reduction shall be not less than $5,000,000 and shall be an integral multiple of $100,000; and (B) Seller shall use reasonable efforts to choose a reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period.

Seller’s Optional Reduction of Total Investment. Subject to Sections 1.2(a) and 4.3, Seller may at any time and from time to time elect to reduce (in whole or in part) Total Investment as follows: (i) Seller shall give Administrative Agent and each Purchaser Agent a Notice of Payment with respect to such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction will commence) no later than 11:00 a.m. (New York City time) three (3) Business Days prior to the proposed reduction date; (ii) on the proposed date of commencement of such reduction and on each day thereafter, Servicer shall refrain from reinvesting Collections pursuant to Section 1.3 until the amount thereof not so reinvested shall equal the desired amount of reduction; and (iii) Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as provided in Section 1.3; provided that (A) the amount of any such reduction shall be not less than $5,000,000 and shall be an integral multiple of $100,000; andand 753697831 (B) Seller shall use reasonable efforts to choose a reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period.

Seller’s Optional Reduction of Total Investment. Subject to Sections 1.2(a) and 4.3, Seller may at any time and from time to time elect to reduce (in whole or in part) Total Investment as follows: (i) i. Seller shall give Administrative Agent and each Purchaser Agent a Notice of Payment with respect to such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction will commence) no later than 11:00 a.m. (New York City time) three (3) Business Days prior to the proposed reduction date; (ii) . on the proposed date of commencement of such reduction and on each day thereafter, Servicer shall refrain from reinvesting Collections pursuant to Section 1.3 until the amount thereof not so reinvested shall equal the desired amount of reduction; and (iii) . Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as provided in Section 1.3; provided that (A) the amount of any such reduction shall be not less than $5,000,000 and shall be an integral multiple of $100,000; and (B) Seller shall use reasonable efforts to choose a reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period.