Common use of Optional Amortization Clause in Contracts

Optional Amortization. On any day prior to the occurrence of a Termination Event, the Transferor may in its sole discretion cause the Servicer to provide written notice to the Agent (an "OPTIONAL AMORTIZATION NOTICE") at least five Business Days prior to any Business Day that is the last day of a Collection Period stating its intention to cause a full amortization of the Net Investment on the following Remittance Date (the "OPTIONAL AMORTIZATION DATE") in an amount equal to the sum of (a) the Net Investment and (b) all Aggregate Unpaids on such Optional Amortization Date (the "OPTIONAL AMORTIZATION AMOUNT"). The Optional Amortization Notice shall state the Optional Amortization Date and the allocation of the Optional Amortization Amount among the various outstanding funding periods that mature on such Optional Amortization Date. The Optional Amortization Amount shall be paid from any Collections on deposit in the Collection Account or from the proceeds of the issuance of one or more interests in the Transferred Interest issued substantially contemporaneously with such full amortization (or any combination of the above).

Optional Amortization. On any day prior to the occurrence of a Termination Event, the Transferor may in its sole discretion cause the Servicer to provide written notice to the Agent (an "OPTIONAL AMORTIZATION NOTICEOptional Amortization Notice") at least five Business Days prior to any Business Day that is the last day of a Collection Period stating its intention to cause a full amortization of the Net Investment on the following Remittance Date (the "OPTIONAL AMORTIZATION DATEOptional Amortization Date") in an amount equal to the sum of (a) the Net Investment and (b) all Aggregate Unpaids on such Optional Amortization Date (the "OPTIONAL AMORTIZATION AMOUNTOptional Amortization Amount"). The Optional Amortization Notice shall state the Optional Amortization Date and the allocation of the Optional Amortization Amount among the various outstanding funding periods that mature on such Optional Amortization Date. The Optional Amortization Amount shall be paid from any Collections on deposit in the Collection Account or from the proceeds of the issuance of one or more interests in the Transferred Interest issued substantially contemporaneously with such full amortization (or any combination of the above).