Common use of Mandatory Decrease Clause in Contracts

Mandatory Decrease. Whenever a Series 2016-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2016-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary so that, after giving effect to such decrease of the Series 2016-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2016-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2016-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2016-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2016-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 2016-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 2016-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2020-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2020-1 Class A-1 Note Purchase Agreement. Any associated Series 2020-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20162020-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162020-1 Class A-1 Excess Principal Event, the Co-Issuers Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2020-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2020-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20162020-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162020-1 Class A-1 Excess Principal Event, the Co-Issuers Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2022-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and the portion thereof payable to each Series 2022-1 Class A-1-VFN Noteholder, any associated Breakage Amounts and the portion thereof payable to each Series 2022-1 Class A-1-VFN Noteholder, and and distribution instructions in accordance with Section 4.02 of the Series 2022-1 Class A-1 Note Purchase Agreement. Any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20162022-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (substantially in the form set forth in Exhibit A hereto (which may be given by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2022-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162007-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge discovery of such Series 20162007-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 20162007-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162007-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162007-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162007-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162007-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162007-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162007-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162007-1 Class A-1 Notes pursuant to Section 3.6 3.7 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2007-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162007-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162007-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162007-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge discovery of such a Series 20162007-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two one (21) Business DaysDay, shall deliver written notice (by facsimile or email, with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee Trustee, each of the Series 2007-1 Class A Insurers and the Series 2007-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162020-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162020-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162020-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162020-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162020-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162020-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162020-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2020-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162020-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162020-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162020-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2020-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162019-1 3 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162019-1 3 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162019-1 3 Class A-1 Outstanding Principal Amount on such date, no such Series 20162019-1 3 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162019-1 3 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162019-1 3 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus shall be due and payable on the Weekly Allocation Date immediately following the date on which a Manager or a Co-Issuer obtains knowledge of such Series 2019-3 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers (iior the Managers on their behalf) any in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Class A-1 Note Purchase Agreement. Any associated Series 2019-3 Class A-1 Breakage Amounts incurred as a result of such decrease Mandatory Decrease (calculated in accordance with the Series 2016-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the applicable Collection Accounts for allocation as Series 20162019-1 3 Class A-1 Noteholders in accordance with Notes Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162019-1 3 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by maile-mail of a PDF or other similar format file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162022-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and the Trustee, in accordance with the information contained in the written notice delivered in accordance with the penultimate sentence of this Section 2.2(a) at least two (2) Business Days prior to the date of such deposit, shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162022-1 Class A-1 Notes pursuant to Section ‎Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162022-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by facsimile e‑mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and Advance Funding Providers and/or the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162022-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20162022-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162022-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be given by facsimile e‑mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162006-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162006-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 20162006-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162006-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162006-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary so that, after giving effect to such decrease of the Series 20162006-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162006-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162006-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162006-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162006-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2006-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162006-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162006-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162006-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162006-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer Series 2006-1 Insurer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate)Series 2006-1 Class A-1 Administrative Agent.

Mandatory Decrease. Whenever a Series 20162018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Issuer obtains knowledge of such Series 2018-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2018-1 Class A-1 Note Purchase Agreement. Any associated Series 2018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited in the Series 2016-1 Class A-1 Noteholders in accordance with Collection Account for allocation pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementPayments. Upon obtaining knowledge of such a Series 20162018-1 Class A-1 Excess Principal Event, the Co-Issuers Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2018-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 2016-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2016-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 2016-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2016-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2016-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2016-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), a “Mandatory Decrease”) shall be due and payable on the Weekly Allocation Date that is no less than four (4) Business Days following the date on which the Manager or any other required payment the Issuer obtains knowledge of principal in respect of the such Series 2016-1 Class A-1 Notes Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Issuer in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 3.6 4.02 of this the Class A-1 Note Purchase Agreement. Any associated Series Supplement, a “Mandatory Decrease”) plus (ii) any associated 2016-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2016-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited in the Series 2016-1 Class A-1 Noteholders in accordance with Collection Account for allocation pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementPayments. Upon obtaining knowledge of such a Series 2016-1 Class A-1 Excess Principal Event, the Co-Issuers Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2016-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162012-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162012-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162012-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162012-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162012-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162012-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162012-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162012-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162012-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162012-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2012-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162012-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162012-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162012-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162012-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2012-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162015-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 3:00 p.m. (New York City time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162015-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162015-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162015-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162015-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162015-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162015-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162015-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162015-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162015-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2015-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162015-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162015-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162015-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162015-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile or email, with original to follow by maile-mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2015-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162018-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162018-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162018-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162018-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162018-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e‑mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).the

Mandatory Decrease. Whenever a Series 20162015-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162015-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162015-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162015-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162015-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162015-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162015-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162015-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162015-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162015-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2015-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162015-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162015-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162015-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162015-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2015-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary so that, that after giving effect to such decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 2018-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute the amount of each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2018-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among the as Series 20162018-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162018-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2018-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 2022-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2022-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20162022-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2022-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162019-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162019-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162019-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20162019-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2019-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162019-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162019-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162019-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162025-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162025-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162025-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162025-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162025-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162025-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 2025-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and the portion thereof payable to each Series 2025-1 Class A-1 Noteholder and distribution instructions in accordance with Section 4.02 of the Series 2025-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162025-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the Collection Account for allocation as Series 20162025-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162025-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2025-1 Class A-1 Administrative Agent. In connection Agent (with any Mandatory Decrease, a copy to the CoBack-Issuers shall reimburse the Trustee, the Servicer Up Manager and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest RateControl Party).

Mandatory Decrease. Whenever a Series 20162018-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162018-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162018-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162018-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162018-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162018-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162018-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2018-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162018-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162018-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162018-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162017-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 3:00 p.m. (New York City time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162017-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162017-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162017-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162017-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162017-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162017-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162017-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162017-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162017-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162017-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162017-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162017-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e‑mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2017-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162022-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162022-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162022-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162022-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162022-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162022-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162022-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162022-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162022-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162022-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20162022-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series 2022-1 Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2022-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162022-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162022-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162022-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162022-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit E hereto (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2022-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162024-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162024-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162024-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162024-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162024-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162024-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus shall be due and payable on the Weekly Allocation Date immediately following the date on which a Manager or a Co-Issuer obtains knowledge of such Series 2024-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers (iior the Managers on their behalf) any in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2024-1 Class A-1 Note Purchase Agreement. Any associated Series 2024-1 Class A-1 Breakage Amounts incurred as a result of such decrease Mandatory Decrease (calculated in accordance with the Series 20162024-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among deposited into the applicable Collection Accounts for allocation as Series 20162024-1 Class A-1 Noteholders in accordance with Notes Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate indicating such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162024-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice substantially in the form of Exhibit D hereto (which may be by facsimile e-mail of a PDF or email, with original to follow by mailother similar format file) of the need for any such Mandatory Decreases to the Trustee and the Series 2024-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162021-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162021-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162021-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162021-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162021-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162021-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162021-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162021-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162021-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a2.02(a), or any other required payment of principal in respect of the Series 20162021-1 Class A-1 Notes pursuant to Section 3.6 3.06 of this Series 2021-1 Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2021-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162021-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162021-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162021-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162021-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2021-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 3:00 p.m. (New York City time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162019-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162019-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162019-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162019-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2019-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162019-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162019-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162019-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e‑mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162012-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 20162012-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall deposit in the Series 20162012-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162012-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162012-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162012-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162012-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162012-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162012-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162012-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2012-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162012-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162012-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162012-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge of such a Series 20162012-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, e-mail with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2012-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer Trustee and the ManagerServicer, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162019-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second Business Day immediately following the date on which the Manager or any Co-Issuer obtains knowledge of such Series 2016-1 Class A-1 Excess Principal Event the Co-Issuers shall deposit in the Series 2016-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162019-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162019-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162019-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2016-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) plus (ii) any shall be due and payable on the Weekly Allocation Date immediately following the date on which the Manager or the Co-Issuers obtain knowledge of such Series 2019-1 Class A-1 Excess Principal Event, in accordance with the Priority of Payments. The Trustee shall distribute each Mandatory Decrease pursuant to the written direction of the Co-Issuers in the applicable Weekly Manager’s Certificate, which shall include the calculation of such Mandatory Decrease and distribution instructions in accordance with Section 4.02 of the Series 2019-1 Class A-1 Note Purchase Agreement. Any associated Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162019-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease ) shall be allocated among the as Series 20162019-1 Class A-1 Noteholders in accordance with Other Amounts pursuant to the order Priority of distribution of principal payments set forth in Section 4.02 of Payments on the Series 2016-1 Class A-1 Note Purchase AgreementWeekly Allocation Date related to the Weekly Manager’s Certificate including such Mandatory Decrease. Upon obtaining knowledge Actual Knowledge of such a Series 20162019-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two (2) Business Days, shall deliver written notice (by facsimile or email, with original to follow by e-mail) of the need for any such Mandatory Decreases to the Trustee and the Series 2019-1 Class A-1 Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

Mandatory Decrease. Whenever a Series 20162021-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 10:00 a.m. (Eastern time) on the second fourth Business Day immediately following the date on which the Manager or any Co-the Master Issuer obtains knowledge of such Series 20162021-1 Class A-1 Excess Principal Event Event, the Co-Issuers Master Issuer shall deposit in the Series 20162021-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Such written direction of the Co-Issuers Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162021-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162021-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162021-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162021-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162021-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 20162021-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2021-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162021-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162021-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2016-1 Class A-1 Note Purchase AgreementOrder of Distribution. Upon obtaining knowledge of such a Series 20162021-1 Class A-1 Excess Principal Event, the Co-Issuers Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by facsimile e-mail of a .pdf or email, with original to follow by mailsimilar file) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the CoSeries 2021-Issuers shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).1 Class A-1

Mandatory Decrease. Whenever a Series 20162007-1 Class A-1 Excess Principal Event shall have occurred, then, on or before the second third Business Day immediately following written notice from the date on which Indenture Trustee or the Manager Series 2007-1 Class A-1 Administrative Agent to the Servicer or any Co-Issuer obtains knowledge discovery by a Responsible Officer of the Servicer of such Series 20162007-1 Class A-1 Excess Principal Event Event, the Co-Issuers shall, and the Servicer shall cause the Co-Issuers to, deposit in the Series 20162007-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Indenture Trustee in writing to distribute such funds in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162007-1 Class A-1 Note Purchase Agreement. Such written direction of the Co-Issuers shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 20162007-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary necessary, so that, that after giving effect to such decrease of the Series 20162007-1 Class A-1 Outstanding Principal Amount on such date, no such Series 20162007-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 20162007-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 20162007-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a3.2(a), or any other required payment of principal in respect of the Series 20162007-1 Class A-1 Notes pursuant to Section 3.6 4.7 of this Series 2007-1 Supplement, a “Mandatory Decrease”) ), plus (ii) any associated Series 2007-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 20162007-1 Class A-1 Note Purchase Agreement). Such Mandatory Decrease shall be allocated among the Series 20162007-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 20162007-1 Class A-1 Note Purchase Agreement. Upon obtaining knowledge discovery of such a Series 20162007-1 Class A-1 Excess Principal Event, the Co-Issuers promptly, but in any event within two one (21) Business DaysDay, shall deliver written notice (by facsimile or email, with original to follow by mail) of the need for any such Mandatory Decreases to the Trustee and the Administrative Agent. In connection with any Mandatory Decrease, the Co-Issuers shall reimburse the Indenture Trustee, the Servicer Series 2007-1 Class A Insurer and the Manager, as applicable, for any unreimbursed Servicing Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate)Series 2007-1 Class A-1 Administrative Agent.