Common use of Tax Redemption Clause in Contracts

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency thereof

Tax Redemption. (a) The Notes shall Each Class of Secured Debt may be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) on any Payment Date at their applicable Redemption Prices at the written direction (delivered to the Issuer, the Collateral Manager, the Trustee, the Collateral Agent and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesClass. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee Collateral Agent shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Trustee, the Collateral Administrator Agent and the Trustee Loan Agent thereof, and upon receipt of such notice the Trustee Collateral Agent shall promptly notify forward such notice to the Holders of the Notes Debt and the Rating Agency thereof.

Tax Redemption. (a) The Notes Secured Debt shall be redeemed (or in the case of the Class A Loans, prepaid) in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the TrusteeCollateral Trustee and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesSecurities, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Collateral Trustee thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify the Holders of the Notes Secured Debt and Subordinated Securities and the Rating Agency thereof.

Tax Redemption. (a) The Notes Debt shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) on any Payment Date at their its applicable Redemption Prices Price at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt by notifying the Trustee in writing of such election prior to the Redemption Date. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator Issuer and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes Debt and the Rating Agency thereof. Until the Trustee receives written notice from the Collateral Manager or otherwise, the Trustee shall not be deemed to have notice or knowledge of any Tax Event.

Tax Redemption. (a) The Notes Debt shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Trustee, the Collateral Agent and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee Collateral Agent shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator Administrator, the Collateral Agent, the Loan Agent and the Trustee thereof, and upon receipt of such notice the Trustee Collateral Agent shall promptly notify the Holders of the Notes Debt and the Rating Agency thereof

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) the Issuer (acting at the direction of a Majority of the Subordinated Notes), in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency Agencies thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency Agencies thereof. (e) The Subordinated Notes may be redeemed, in whole but not in part, on any Business Day on or after the redemption or repayment in full of the Secured Notes, at the direction of a Majority of the Subordinated Notes.

Tax Redemption. (a) The Notes Debt shall be redeemed in whole but not in part on any Business Day (any such redemption, a “"Tax Redemption”") at their applicable Redemption Prices at the written direction (delivered to the TrusteeCollateral Trustee and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator Administrator, the Loan Agent and the Collateral Trustee thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify the Holders of the Notes Debt and the Rating Agency thereof.

Tax Redemption. (a) The Notes Each Class of Secured Debt shall be redeemed (or in the case of the Class A-1 Loans, prepaid) in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) on any Payment Date at their the applicable Redemption Prices therefor at the written direction (delivered to the TrusteeIssuer, the Collateral Manager, the Collateral Trustee and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes to be redeemed may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesClass. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the each Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator Trustee and the Trustee Loan Agent thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify forward such notice to the Holders of the Notes and the each Rating Agency thereof. Until notified by the Collateral Manager or until a Trust Officer of the Collateral Trustee obtains actual knowledge of the occurrence of a Tax Event, the Collateral Trustee shall not be deemed to have any notice or knowledge of the occurrence of such Tax Event.

Tax Redemption. (a) The Notes Debt shall be redeemed or prepaid, as applicable, in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Collateral Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesPreferred Shares, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Collateral Trustee thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify the Holders of the Notes Debt and the Rating Agency thereof.

Tax Redemption. (a) The Notes Secured Debt shall be redeemed (or in the case of the Class A Loans, prepaid), as applicable, in whole but not in part on any Business Day (any such redemption, a ““ Tax Redemption”” ) at their applicable Redemption Prices at the written direction (delivered to the TrusteeCollateral Trustee and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesSecuritiesPreferred Shares, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Collateral Trustee thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify the Holders of the Notes Secured Debt and Subordinated Securities and the Rating Agency thereof.

Tax Redemption. (a) The Notes Securities shall be redeemed in whole (with respect to all Classes of Securities) but not in part on any Business Day (any such redemption, a “"Tax Redemption”") at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesPreferred Shares, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes Securities and the Rating Agency thereof.

Tax Redemption. (a) The Notes Securities shall be redeemed (or prepaid, as applicable) in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Collateral Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesPreferred Shares, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt. (c) Upon its receipt of such written direction directing a Tax Redemption, the Collateral Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Collateral Trustee thereof, and upon receipt of such notice the Collateral Trustee shall promptly notify the Holders of the Notes Securities and the Rating Agency thereof.

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “"Tax Redemption”") at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence of (and continuation of due to) a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes by notifying the Trustee in writing prior to the Redemption Date may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Issuer (which shall notify each Rating Agency then rating a Class of Rated Notes) thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify in writing the IssuerAdministrator and the Issuer (which shall notify each Rating Agency then rating a Class of Rated Notes), the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and Notes. Until the Rating Agency thereofTrustee receives written notice from the Collateral Manager or otherwise, the Trustee shall not be deemed to have notice or knowledge to the contrary.

Tax Redemption. (a) The Notes Each Class of Secured Debt shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) on any Payment Date at their the applicable Redemption Prices therefor at the written direction (delivered to the Issuer, the Collateral Manager, the Trustee, the Collateral Agent and the Loan Agent) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesPreferred Shares, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes to be redeemed may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesClass. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee Collateral Agent shall promptly notify the Collateral Manager, the Holders and the each Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Trustee, the Collateral Administrator Agent and the Trustee Loan Agent thereof, and upon receipt of such notice the Trustee Collateral Agent shall promptly notify forward such notice to the Holders of the Notes and the each Rating Agency thereof.

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Rating Agency thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency thereof

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence of (and continuation of due to) a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes by notifying the Trustee in writing prior to the Redemption Date may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesNotes in accordance with the definition of “Redemption Price”. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Issuer (which shall notify the Rating Agency so long as it is rating a Class of Secured Notes) thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify in writing the IssuerAdministrator and the Co-Issuers (and the Issuer shall notify the Rating Agency so long as it is rating a Class of Secured Notes), the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and Notes. Until the Rating Agency thereofTrustee receives written notice from the Collateral Manager or otherwise, the Trustee shall not be deemed to have notice or knowledge to the contrary.

Tax Redemption. (a) The Notes Debt shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) on any Payment Date at their its applicable Redemption Prices Price at the written direction (delivered to the TrusteeTrustee and/or the Loan Agent, as applicable) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence and continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes Debt may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured NotesDebt by notifying the Trustee and the Loan Agent (if applicable) in writing of such election prior to the Redemption Date. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee and/or the Loan Agent, as applicable, shall promptly notify the Collateral Manager, the Holders and the Rating Agency S&P thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the Issuer, the Collateral Administrator Issuer and the Trustee and the Loan Agent thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency thereofthe

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “"Tax Redemption”") at their applicable Redemption Prices at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated Notes, in either case following the occurrence of (and continuation of due to) a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes by notifying the Trustee in writing prior to the Redemption Date may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Issuer (which shall notify each Rating Agency then rating a Class of Rated Notes) thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the IssuerAdministrator and the Issuer (which shall notify each Rating Agency then rating a Class of Rated Notes), the Collateral Administrator and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency thereofNotes.

Tax Redemption. (a) The Notes shall be redeemed in whole but not in part on any Business Day (any such redemption, a “Tax Redemption”) at their applicable Redemption Prices (subject to any election by Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes to receive less than 100% of the Redemption Price pursuant to Section 9.3(b)) at the written direction (delivered to the Trustee) of (x) a Majority of any Affected Class of Secured Notes that, as a result of the occurrence of a Tax Event, has not received 100% of the aggregate amount of principal and interest that would otherwise be due and payable to such Class on any Payment Date or (y) a Majority of the Subordinated NotesNotes (with the consent of the Collateral Manager), in either case following the occurrence and during the continuation of a Tax Event. (b) In connection with any Tax Redemption, Holders of 100% of the Aggregate Outstanding Amount of any Class of Secured Notes may elect to receive less than 100% of the Redemption Price that would otherwise be payable to the Holders of such Class of Secured Notes. (c) Upon its receipt of such written direction directing a Tax Redemption, the Trustee shall promptly notify the Collateral Manager, the Holders and the Issuer (which shall notify each Rating Agency Agency) thereof. (d) If an Officer of the Collateral Manager obtains actual knowledge of the occurrence of a Tax Event, the Collateral Manager shall promptly notify the IssuerIssuer (which shall notify each Rating Agency), the Collateral Administrator Administrator, and the Trustee thereof, and upon receipt of such notice the Trustee shall promptly notify the Holders of the Notes and the Rating Agency thereofNotes.