Common use of Optional Reduction of Net Investment Clause in Contracts

Optional Reduction of Net Investment. The Originator may at any time elect to cause the reduction of the Net Investment as follows: (a) the Originator shall instruct the Servicer to (and the Servicer shall) set aside Collections and hold them in trust for the Agent under clause (ii) of Section 2.13(a) until the amount so set aside shall equal the desired amount of reduction; (b) the Originator shall give the Agent at least one Business Day’s prior written notice of the amount of such reduction and the date on which such reduction will occur; and (c) on each Settlement Date occurring at least the Required Notice Days after the date of the Originator’s notice, the Servicer shall pay to the Agent, in reduction of the Net Investment, the amount of such Collections so held or, if less, the Net Investment (it being understood that the Net Investment shall not be deemed reduced by any amount set aside or held pursuant to this Section 2.14 unless and until, and then only to the extent that, such amount is finally paid to the Agent as aforesaid); provided that, the amount of any such reduction shall be not less than $1,000,000. For purposes hereof “Required Notice Days” means (i) two (2) Business Days in the case of a reduction of Net Investment of less than $10,000,000, (ii) five (5) Business Days in the case of a reduction of Net Investment of at least $10,000,000 and less than $20,000,000, and (iii) ten (10) Business Days in the case of a reduction of Net Investment of $20,000,000 or more.

Optional Reduction of Net Investment. The Originator SPV may at any time elect to cause the reduction of the Net Investment as follows: (a) the Originator SPV shall instruct the Servicer to (and the Servicer shall) set aside Collections and hold them in trust for the Agent under clause CLAUSE (ii) of Section 2.13(aSECTION 2.12 (a) until the amount so set aside shall equal the desired amount of reduction; (b) the Originator SPV shall give the Agent at least one Business Day’s 's prior written notice of the amount of such reduction and the date on which such reduction will occur; and (c) on each Settlement Date occurring at least the Required Notice Days after the date of the Originator’s SPV's notice, the Servicer shall pay to the Agent, in reduction of the Net Investment, the amount of such Collections so held or, if less, the Net Investment (it being understood that the Net Investment shall not be deemed reduced by any amount set aside or held pursuant to this Section 2.14 SECTION 2.13 unless and until, and then only to the extent that, such amount is finally paid to the Agent as aforesaid); provided PROVIDED that, the amount of any such reduction shall be not less than [$1,000,0001,000]. For purposes hereof “Required Notice Days” "REQUIRED NOTICE DAYS" means (i) two (2) Business Days in the case of a reduction of Net Investment of less than $10,000,000, (ii) five (5) Business 5)Business Days in the case of a reduction of Net Investment of at least $10,000,000 and less than $20,000,000, and (iii) ten (10) Business Days in the case of a reduction of Net Investment of $20,000,000 or more.