Optional Termination Clause Samples

Optional Termination. Upon notice by the Collateral Agent or the Facility Agent (acting on its own or at the direction of the Required Lenders) that an Event of Default (other than an Event of Default described in Section 13.1(d)) has occurred, the Revolving Period will automatically terminate and no Advances will thereafter be made, and the Collateral Agent (at the direction of the Facility Agent) or the Required Lenders may declare all or any portion of the outstanding principal amount of the Advances and other Obligations to be due and payable, whereupon the full unpaid amount of such Advances and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment (all of which are hereby expressly waived by the Borrower) and the Facility Termination Date shall be deemed to have occurred.

Optional Termination. 8 COUNTY or DISTRICT may terminate this Agreement, without cause, upon 9 thirty (30) days written notice to the other party.

Optional Termination. The purchase of the Mortgage Loans pursuant to Section 10.01(a) hereof.

Optional Termination. Upon the occurrence and during the continuation of a Purchase and Sale Termination Event, the Buyer (and not the Servicer), with the prior written consent of the Administrative Agent shall have the option, by notice to the Originators (with a copy to the Administrative Agent and the Lenders), to declare the Purchase Facility terminated.

Optional Termination. Section 11.03

Optional Termination. (a) On any Payment Date on which the Outstanding Amount is equal to or less than 5% of the Initial Note Balance, after giving effect to all principal payments on such Payment Date, the Servicer will have the option to purchase the 2024-B Exchange Note in whole but not in part. To exercise such option, the Servicer will (i) notify the Borrower, the Collateral Agent, the Administrative Agent and the Indenture Trustee of such election not fewer than ten and not more than 30 days prior to the related Payment Date and (ii) deposit in the 2024-B Exchange Note Collection Account an amount equal to the 2024-B Exchange Note Purchase Price. The 2024-B ABS Notes shall be redeemed in accordance with Section 10.01 of the Indenture. (b) Upon purchase of the 2024-B Exchange Note by the Servicer pursuant to this Section and upon redemption of the Notes and the payment of all Issuer Obligations in full, pursuant to Section 4.06 of the Basic Collateral Agency Agreement, the Borrower shall cancel the 2024-B Exchange Note and the 2024-B Leases and 2024-B Vehicles shall be reallocated to the Revolving Facility Pool.

Optional Termination. (a) On any Master Servicer Remittance Date on or after the Initial Optional Termination Date, the Master Servicer may determine to purchase and may cause the purchase from the Trust of all (but not fewer than all) Mortgage Loans and all property theretofore acquired in respect of any Mortgage Loan by foreclosure, deed in lieu of foreclosure, or otherwise then remaining in the Trust Estate at a price equal to 100% of the aggregate Scheduled Principal Balances of the Mortgage Loans (including any REO Property) as of the day of purchase minus amounts remitted from the Master Servicer Custodial Account to the Asset Proceeds Account representing collections of principal on the Mortgage Loans during the current Remittance Period, plus one month's interest on such amount, plus in all cases all accrued and unpaid Servicing Fees and Master Servicing Fees plus the aggregate amount of any unreimbursed Advances and any Advances which the Servicer or the Master Servicer has theretofore failed to remit; but in any event such purchase amount shall be sufficient to retire all Group I and Group II Certificates in full. In connection with such purchase, the Master Servicer shall remit to the Trustee all amounts then on deposit in the Master Servicer Custodial Account for deposit to the Asset Proceeds Account, which deposit shall be deemed to have occurred immediately preceding such purchase. (b) The Master Servicer shall direct the Trustee to adopt and the Trustee shall adopt, as to each REMIC established hereunder, a plan of complete liquidation as contemplated by Section 860F(a)(4) of the Code and as prepared by the Master Servicer, and shall provide to the Trustee an Opinion of Counsel experienced in federal income tax matters acceptable to the Trustee to the effect that such purchase and liquidation constitutes, as to each REMIC, a Qualified Liquidation. In addition, the Master Servicer shall provide to the Trustee an Opinion of Counsel acceptable to the Trustee to the effect that such purchase and liquidation does not constitute a preference payment pursuant to the United States Bankruptcy Code. (c) Promptly following any purchase described in this Section 5.04, the Trustee will release the Trustee Mortgage Loan File to the Master Servicer or otherwise upon its order.

Optional Termination. The termination of the trust created -------------------- hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

Optional Termination. Section 4.01 Repurchase at the Option of the [Depositor]. To the extent specified in Article I, the Contracts included in the Trust Fund shall be subject to repurchase at the option of the [Depositor] as permitted herein on any Optional Termination Date at the Repurchase Price specified herein. [The Repurchase Price for any such Optional Termination shall be equal to the lesser of (a) the aggregate Principal Balance of the Contracts as of the date of repurchase, together with accrued and unpaid interest thereon at the Pass-Through Rate through the last day of the month of such repurchase, plus the Appraised Value of any property acquired in respect thereof, or (b) the fair market value of the Contracts (as specified below). For purposes of this Section 4.01, the fair market value of the Contracts shall be deemed to be the aggregate market value of the Certificates (determined, in the event that the Certificates are traded in the over-the- counter securities market, by the most recent bid price for the Certificates in such market, or, in the event that the Certificates are traded on a securities exchange, by the average closing sale price for the Certificates on such exchange for the last five trading days of such exchange immediately preceding such repurchase or, in the event that the Certificates are not so traded, on the basis of current prices of securities as determined by the latest bids made by two dealers making a market in securities deemed by the Depositor and the Trustee to be most comparable to the Certificates), plus accrued interest at the Pass-Through Rate through the last day of the month of repurchase. The right of the Depositor to repurchase the Contracts is conditioned upon the Depositor's having previously given notice of termination as required by Section 4.02.]