Common use of Clean-Up Call Rights Clause in Contracts

Clean-Up Call Rights. The Participant shall have the right, exercisable in its sole and absolute discretion, to require the liquidation and sale, for cash consideration, of any remaining Loans and Acquired Collateral held by the Company or any Ownership Entity (the “Clean-Up Call”) at any time after the earlier to occur of (i) the date that is seven (7) years after the Closing Date and (ii) the date on which the then Unpaid Principal Balance is ten percent (10%) or less of the Unpaid Principal Balance as of the Closing Date, as set forth on the Loan Schedule.

Clean-Up Call Rights. The Participant shall have the right, exercisable in its sole and absolute discretion, to require the liquidation and sale, for cash consideration, of any remaining Loans and Acquired Collateral held by the Company or any Ownership Entity (the “Clean-Up Call”) at any time after the earlier to occur of (i) the date that is seven (7) years after the Closing Effective Date and (ii) the date on which the then Unpaid Principal Balance is ten percent (10%) or less of the Unpaid Principal Balance as of the Closing Date, Cut-Off Date as set forth on the Loan Schedule.

Clean-Up Call Rights. The Participant shall have the right, exercisable in its sole and absolute discretion, to require the liquidation and sale, for cash consideration, of any remaining Loans and Acquired Collateral held by the Company or any Ownership Entity (the “Clean-Up Call”) at any time after the earlier to occur of (i) the date that is seven ten (710) years after the Closing Effective Date and (ii) the date on which the then Unpaid Principal Balance is ten percent (10%) or less of the Unpaid Principal Balance as of the Closing Date, Cut-Off Date as set forth on the Loan Schedule.