Common use of Early Redemption Events Clause in Contracts

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 2004-B Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f) of the Pooling and Servicing Agreement; (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement; (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement; (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 2004-B Available Principal Amounts to pay interest on the Series 2004-B Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date ; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 2004-B Notes is not repaid by the Series 2004-B Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940; (11) the occurrence of an Event of Default with respect of the Series 2004-B Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 2004-B will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 2004-B Noteholders holding Series 2004-B Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 2004-B Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 2004-B Noteholders, declare that an Early Redemption Event with respect to the Series 2004-B Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (13) above, an Early Redemption Event with respect to the Series 2004-B Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 2004-B Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an Early Redemption Event specified in clause (3), (12) or (13) above and the Early Redemption Event specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 2004-B Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 2004-B A Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f) of the Pooling and Servicing Agreement; (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement; (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement; (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 2004-B A Available Principal Amounts to pay interest on the Series 2004-B A Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date ; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 2004-B A Notes is not repaid by the Series 2004-B A Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940; (11) the occurrence of an Event of Default with respect of the Series 2004-B A Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 2004-B A will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 2004-B A Noteholders holding Series 2004-B A Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 2004-B A Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 2004-B A Noteholders, declare that an Early Redemption Event with respect to the Series 2004-B A Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (13) above, an Early Redemption Event with respect to the Series 2004-B A Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 2004-B A Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an Early Redemption Event specified in clause (3), (12) or (13) above and the Early Redemption Event specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 2004-B A Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 20042002-B Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f901(f) of the Pooling and Servicing Agreement; (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement; (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement; (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 20042002-B Available Principal Amounts to pay interest on the Series 20042002-B Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date ; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 20042002-B Notes is not repaid by the Series 20042002-B Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940;; and (11) the occurrence of an Event of Default with respect of the Series 20042002-B Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 20042002-B will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 20042002-B Noteholders holding Series 20042002-B Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 20042002-B Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 20042002-B Noteholders, declare that an Early Redemption Event with respect to the Series 20042002-B Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (1311) above, an Early Redemption Event with respect to the Series 20042002-B Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 20042002-B Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an the Early Redemption Event specified in clause (3), (12) or (13) above and any of the Early Redemption Event Events specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 20042002-B Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 2004-B [o] Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f901(f) of the Pooling and Servicing Agreement; (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement; (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement; (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 2004-B [o] Available Principal Amounts to pay interest on the Series 2004-B [o] Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date ; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 2004-B [o] Notes is not repaid by the Series 2004-B [o] Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940;; and (11) the occurrence of an Event of Default with respect of the Series 2004-B [o] Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 2004-B [o] will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 2004-B [o] Noteholders holding Series 2004-B [o] Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 2004-B [o] Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 2004-B [o] Noteholders, declare that an Early Redemption Event with respect to the Series 2004-B [o] Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (1311) above, an Early Redemption Event with respect to the Series 2004-B [o] Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 2004-B [o] Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an the Early Redemption Event specified in clause (3), (12) or (13) above and any of the Early Redemption Event Events specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 2004-B [o] Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 20042002-B A Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f901(f) of the Pooling and Servicing Agreement;; [note: this is not a change; this replaces the descriptive language taken from the Prospectus Supplement with a reference to the provision of the PSA that was being described] (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement;; [note: no change, same reason] (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement;; [note: no change, same reason] (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 20042002-B A Available Principal Amounts to pay interest on the Series 20042002-B A Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date Date; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 20042002-B A Notes is not repaid by the Series 20042002-B A Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940;; and (11) the occurrence of an Event of Default with respect of the Series 20042002-B A Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 20042002-B A will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 20042002-B A Noteholders holding Series 20042002-B A Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 20042002-B A Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 20042002-B A Noteholders, declare that an Early Redemption Event with respect to the Series 2004-B Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (1311) above, an Early Redemption Event with respect to the Series 20042002-B Notes shall A will be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 20042002-B A Noteholders immediately upon the occurrence of such that event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Notes Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that that, the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an the Early Redemption Event specified in clause (3), (12) or (13) above and any of the Early Redemption Event Events specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 20042002-B A Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.

Early Redemption Events. In addition to the events identified as Early Redemption Events in Section 1201 of the Indenture, each of the following events will also be an Early Redemption Event with respect to the Series 20042003-B A Notes: (1) the occurrence of the Early Amortization Event specified in Section 9.01(f901(f) of the Pooling and Servicing Agreement; (2) the occurrence of the Early Amortization Event specified in Section 9.01(g) of the Pooling and Servicing Agreement; (3) the occurrence of any Early Amortization Event specified in Section 9.01(b), (c), (d) or (e) of the Pooling and Servicing Agreement; (4) the occurrence of the Early Amortization Event specified in Section 9.01(a) of the Pooling and Servicing Agreement; (5) on any Payment Date, the Primary Overcollateralization Amount for such Payment Date is reduced to an amount less than the Required Primary Overcollateralization Amount on that Payment Date after giving effect to the distributions to be made on such Payment Date; provided that, for the purpose of determining whether an Early Redemption Event has occurred pursuant to this clause (5), any reduction of the Primary Overcollateralization Amount resulting from reallocations of the Series 20042003-B A Available Principal Amounts to pay interest on the Series 20042003-B A Notes in the event LIBOR is equal to or greater than the prime rate upon which interest on the Receivables is calculated on the applicable LIBOR Determination Date will be considered an Early Redemption Event only if LIBOR remains equal to or greater than such prime rate for the next 30 consecutive days following such LIBOR Determination Date ; (6) any Service Default occurs; (7) on any Determination Date, as of the last day of the preceding Collection Period, the aggregate amount of Principal Receivables relating to Used Vehicles exceeds 20% of the Pool Balance on that last day; (8) on any Determination Date, the average of the Monthly Payment Rates for the three preceding Collection Periods is less than 20%; (9) the Outstanding Dollar Principal Amount of the Series 20042003-B A Notes is not repaid by the Series 20042003-B A Expected Principal Payment Date; (10) the Issuer becomes an investment company within the meaning of the Investment Company Act of 1940;; and (11) the occurrence of an Event of Default with respect of the Series 20042003-B A Notes; (12) the CARCO Trust shall file a petition commencing a voluntary case under any chapter of the Federal bankruptcy laws; or the CARCO Trust shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable Federal law, or shall consent to the filing of any such petition, answer, or consent; or the CARCO Trust shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the CARCO Trust shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; and (13) any order for relief against the CARCO Trust shall have been entered by a court having jurisdiction in the premises under any chapter of the Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the CARCO Trust under any other similar applicable Federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of the CARCO Trust or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 20042003-B A will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 20042003-B A Noteholders holding Series 20042003-B A Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 20042003-B A Notes by written notice to the Seller, the Servicer, the CARCO Trust Trustee and the Indenture Trustee, if given by Series 20042003-B A Noteholders, declare that an Early Redemption Event with respect to the Series 20042003-B A Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in Section 9.01(h) of the Pooling and Servicing Agreement or any event described in clause (3), (4), (5), (7), (8), (9), (10), (11), (12) or (1311) above, an Early Redemption Event with respect to the Series 20042003-B A Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 20042003-B A Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the CARCO Trust, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the CARCO Trust; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an the Early Redemption Event specified in clause (3), (12) or (13) above and any of the Early Redemption Event Events specified in Section 1201(c) of the Indenture) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 20042003-B A Notes consent to the recommencement of the Revolving Period, the related Early Redemption Period shall terminate and the Revolving Period shall recommence.