Common use of Optional Note Purchase Clause in Contracts

Optional Note Purchase. On any Payment Date occurring on or after the Initial Optional Notes Purchase Date, the Holder of a majority of the Percentage Interest of the Trust Certificate has the assignable option to call all Classes of Notes, in whole but not in part, under Article X of the Indenture. Notice of any exercise of the Note Purchase Option shall be sent by the Trust Administrator to Securityholders in accordance with the Indenture. Upon exercise of the Note Purchase Option, the Holder of a majority of the Percentage Interest of the Trust Certificate will call each Class of Notes at the related Note Purchase Price. After exercise of the Note Purchase Option each Class of Notes will remain outstanding and will not be retired as provided in the Indenture.

Optional Note Purchase. On any Payment Date occurring on or after the Initial Optional Notes Purchase Date, the Holder of a majority of the Percentage Interest of the Trust Certificate has the assignable option to call all Classes of Notes, in whole but not in part, under Article X of the Indenture. Notice of any exercise of the Note Purchase Option shall be sent by the Trust Administrator to Securityholders in accordance with the Indenture. Upon exercise of the Note Purchase Option, the Holder of a majority of the Percentage Interest of the Trust Certificate will call each Class of Notes at the related Note Purchase Price. After exercise of the Note Purchase Option the Holder of a majority of the Percentage Interest of the Trust Certificate has the option to keep each Class of Notes will remain outstanding and will not be retired as provided in the IndentureIndenture or to terminate this Agreement in accordance with Section 7.03(a).