Common use of Variable Accumulation Period Clause in Contracts

Variable Accumulation Period. The Servicer may elect, by written notice to the Indenture Trustee, to delay, from time to time, the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this SECTION 3.20; provided, however, that the Accumulation Period shall commence no later than the first day of the Collection Period ending immediately prior to the Scheduled Final Payment Date. Any such election by the Servicer shall be made not later than the first day of the last scheduled Collection Period of the Revolving Period (including any prior shortening and/or extension of the Revolving Period pursuant to this SECTION 3.20). The Issuer or the Servicer may make such election only if the following conditions are satisfied:

Variable Accumulation Period. The Servicer may elect, by written notice to the Indenture Trustee, to delay, from time to time, the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this SECTION Section 3.20; provided, however, that the Accumulation Period shall commence no later than the first day of the Collection Monthly Period ending immediately prior to the Scheduled Final Payment Date. Any such election by the Servicer shall be made not later than the first day of the last scheduled Collection Monthly Period of the Revolving Period (including any prior shortening and/or extension of the Revolving Period pursuant to this SECTION Section 3.20). The Issuer or the Servicer may make such election only if the following conditions are satisfied:

Variable Accumulation Period. The Servicer may elect, by written notice to the Indenture Trustee, to delay, from time to time, the commencement of the Accumulation Period, and extend the length of the Revolving Period, subject to the conditions set forth in this SECTION 3.20Section 3.19; provided, however, that the Accumulation Period shall commence no later than the first day of the Collection Period ending immediately prior to the Scheduled Final Payment Date. Any such election by the Servicer shall be made not later than the first day of the last scheduled Collection Period of the Revolving Period (including any prior shortening and/or extension of the Revolving Period pursuant to this SECTION 3.20Section 3.19). The Issuer or the Servicer may make such election only if the following conditions are satisfied: