Common use of Prepayment of Certificates Clause in Contracts

Prepayment of Certificates. (a) The Certificates shall be prepaid in whole, but not in part, at the direction of the Servicer pursuant to Section 9.1 of the Sale and Servicing Agreement, on any Distribution Date on which the Servicer exercises its option to purchase the assets of the Trust pursuant to said Section 9.1, and the amount paid by the Servicer shall be treated as collections of Receivables and applied to pay the unpaid principal amount of the Notes and the Aggregate Certificate Balance plus accrued and unpaid interest (including any overdue interest) thereon. The Servicer shall furnish the Rating Agencies and the Owner Trustee notice of such prepayment. If the Certificates are to be prepaid pursuant to this Section 9.3(a), the Servicer shall furnish notice of such election to the Owner Trustee not later than twenty (20) days prior to the Prepayment Date and the Trust shall deposit by 10:00 A.M. (New York City time) on the Prepayment Date in the Certificate Distribution Account the Prepayment Price of the Certificates to be redeemed, whereupon all such Certificates shall be due and payable on the Prepayment Date.

Prepayment of Certificates. (a) The Certificates shall be prepaid in whole, but not in part, at the direction of the Servicer pursuant to Section 9.1 8.1 of the Sale and Servicing Agreement, on any Distribution Payment Date on which the Servicer exercises its option to purchase the assets of the Trust pursuant to said Section 9.18.1, and the amount paid by the Servicer shall be treated as collections of Receivables and applied to pay the unpaid principal amount of the Notes and the Aggregate Certificate Balance Securities plus accrued and unpaid interest (including any overdue interest) thereon. The Servicer shall furnish the Rating Agencies and the Owner Trustee notice of such prepayment. If the Certificates are to be prepaid pursuant to this Section 9.3(a9.2(a), the Servicer shall furnish notice of such election to the Owner Trustee not later than twenty (20) days prior to the Prepayment Payment Date on which such prepayment will be made and the Trust shall deposit by 10:00 A.M. (New York City time) on the Prepayment such Payment Date in the Certificate Trust Distribution Account the Certificate Prepayment Price Amount of the Certificates to be redeemedprepaid, whereupon all such Certificates shall be due and payable on the Prepayment such Payment Date.