Common use of Second Extension Election Clause in Contracts

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii) of this Series Supplement, if the Series 2019-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in October 2025 to elect (the “Series 2019-1 Second Extension Election”) to extend the Series 2019-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in October 2026 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in October 2026 shall become the Series 2019-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series Supplement, if the Series 20192015-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in October 2025 2021 to elect (the “Series 20192015-1 Second Extension Election”) to extend the Series 20192015-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in October 2026 2022 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in October 2026 2022 shall become the Series 20192015-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series Supplement, if the Series 20192017-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in October 2025 July 2023 to elect (the “Series 20192017-1 Second Extension Election”) to extend the Series 20192017-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in October 2026 July 2024 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in October 2026 July 2024 shall become the Series 20192017-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.06(b)(iii3.6(b)(iii) of this Series Supplement, if the Series 20192012-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in October 2025 January 2018 to elect (the “Series 20192012-1 Second Extension Election”) to extend the Series 20192012-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in October 2026 January 2019 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in October 2026 January 2019 shall become the Series 20192012-1 Class A-1 Senior Notes Renewal Date.