Common use of Acquisition of Receivables; Payment of Reconveyance Amount Clause in Contracts

Acquisition of Receivables; Payment of Reconveyance Amount. If the Servicer chooses to cure a breach of the Group Eligibility Representation that had a material adverse effect on the Credit Extensions related to the Group to which such Receivable has been designated, such breach must be cured by the Servicer by the end of the second month following the month the Responsible Person of the Servicer received written notice of the breach as set forth above. If such breach (i) is not cured in all material respects and (ii) had a material adverse effect on the Credit Extensions related to the Group to which such Receivable has been designated, then the Servicer must acquire any such Receivable transferred by it to the Depositor for which the Group Eligibility Representation was breached on or before the Business Day before the Payment Date following the end of the second month referenced in the first sentence hereof (or, with satisfaction of the Rating Agency Condition, if applicable, on such Payment Date) by remitting the Reconveyance Amount for the related Receivables to the Collection Account on or prior to such date.

Acquisition of Receivables; Payment of Reconveyance Amount. If the Servicer chooses to cure a breach of the Group Eligibility Representation that had has a material adverse effect on the Credit Extensions related to the Group to which such Receivable has Receivables have been re-designated, such breach must be cured by the Servicer by the end of the second month following the month the a Responsible Person of the Servicer received written notice of the breach as set forth above. If such breach (i) is not cured in all material respects and (ii) had a material adverse effect on the Credit Extensions related to the Group to which such Receivable has Receivables have been re-designated, then the Servicer must acquire any such Receivable transferred by it re-designated to the Depositor related Group on a Re-Designation Date for which the Group Eligibility Representation was breached on or before the Business Day before the Payment Date following the end of the second month referenced in the first sentence hereof (or, with satisfaction of the Rating Agency Condition, if applicable, on such Payment Date) by remitting the Reconveyance Amount for the related Receivables to the Collection Account on or prior to such date.