Series 2018-1 Prepayments Clause Samples
The 'Series 2018-1 Prepayments' clause defines the rules and procedures for handling prepayments made on the financial instruments or obligations issued under the Series 2018-1 designation. It typically outlines how any payments made ahead of schedule by borrowers are to be allocated among investors, whether such prepayments are permitted without penalty, and how they affect the outstanding principal balance. This clause ensures that all parties understand the impact of early payments on cash flows and helps manage expectations regarding the timing and amount of returns, thereby providing clarity and reducing disputes over prepayment handling.
Series 2018-1 Prepayments. On each Series 2018-1 Prepayment Date with respect to any Series 2018-1 Prepayment, the Series 2018-1 Prepayment Amount and the Series 2018-1 Make-Whole Prepayment Consideration, if any, shall be due and payable. The Issuer shall pay the Series 2018-1 Prepayment Amount together with the applicable Series 2018-1 Make-Whole Prepayment Consideration, if any, by, to the extent not already deposited therein pursuant to Section 3.6(f) of this Series Supplement, depositing such amounts in the applicable Series 2018-1 Class A-2 Distribution Account on or prior to the related Series 2018-1 Prepayment Date to be distributed in accordance with Section 3.6(k) of this Series Supplement.
Series 2018-1 Prepayments. On each Series 2018-1 Prepayment Date with respect to any Series 2018-1 Prepayment, the Series 2018-1 Prepayment Amount and the Series 2018-1 Class A-2 Make-Whole Prepayment Premium, if any, shall be due and payable. The Co-Issuers shall pay the Series 2018-1 Prepayment Amount together with the applicable Series 2018-1 Class A-2 Make-Whole Prepayment Premium, if any, with respect to such Series 2018-1 Prepayment Amount, by, to the extent not already deposited therein pursuant to Sections 3.6(d)(i), (d)(ii) or (f) of this Series Supplement, depositing such amounts in the Series 2018-1 Class A-2 Distribution Account on or prior to the related Series 2018-1 Prepayment Date to be distributed in accordance with Section 3.6(k) of this Series Supplement.
Series 2018-1 Prepayments. On each Series 2018-1 Prepayment Date with respect to any Series 2018-1 Prepayment, the Series 2018-1 Prepayment Amount, the Series 2018-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2018-1 Class A-1 Breakage Amounts applicable to such Series 2018-1 Prepayment shall be due and payable. The Master Issuer shall pay the Series 2018-1 Prepayment Amount together with the applicable Series 2018-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2018-1 Class A-1 Breakage Amounts applicable to such Series 2018-1 Prepayment by depositing such amounts in the applicable Indenture Trust Accounts in accordance with the Priority of Payments or the applicable Series 2018-1 Distribution Account pursuant to Section 3.6(f), in each case, on or prior to the related Series 2018-1 Prepayment Date to be distributed in accordance with Section 5.12 of the Base Indenture, Section 3.3, or Section 3.6(k), as applicable.
Series 2018-1 Prepayments. On each Series 2018-1 Prepayment Date with respect to any Series 2018-1 Prepayment, the Series 2018-1 Prepayment Amount and the Class A Make-Whole Prepayment Premium, if any, shall be due and payable. The Issuers shall pay the Series 2018-1 Prepayment Amount together with the applicable Class A Make-Whole Prepayment Premium, if any, by depositing such amounts in the Collection Account on or prior to the related Series 2018-1 Prepayment, to be distributed in accordance with Section 3.6(j) of this Series Supplement.