Common use of Prepaid Contract Clause in Contracts

Prepaid Contract. The Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) the Servicer provides an Additional Contract or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of such payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract. After a Payout Event has occurred, the Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract.

Prepaid Contract. The Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) the Servicer provides an Additional Contract or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) (i) the product of 88% and the Discounted Contract Balance on as of the date of such prepayment calculated using most recent Determination Date plus (ii) one month's interest at the applicable Blended Discount Rate in effect on the date of rate under such paymentPrepaid Contract, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract. After a Payout Restricting Event has occurred, the Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract.

Prepaid Contract. The Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) the Servicer provides an Additional Contract or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of such payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract. After a Payout Termination Event has occurred, the Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract.