Common use of Breach of Representations, Warranties or Covenants Clause in Contracts

Breach of Representations, Warranties or Covenants. Upon discovery by any Originator or the Buyer of any breach of representation, warranty or covenant described in Sections 4.01(g), 4.01(k), 4.01(t), 4.01(u), 4.01(v), 4.02(k), 4.03(a), 4.03(b), 4.03(c) and 4.03(k) with respect to any Transferred Receivable, the party discovering the same shall give prompt written notice thereof to the other parties hereto. The Originator that breached such representation, warranty or covenant shall, if requested by notice from the Buyer, on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Buyer for cash remitted to the applicable Collection Account, (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Buyer on such Business Day, or (c) in the case of the Member, make a capital contribution in cash to the Buyer by remitting the amount of such capital contribution to the Collection Account, in each case, in an amount (the “Rejected Amount”) equal to the Billed Amount of such Transferred Receivable minus the sum of (i) Collections received in respect thereof plus (ii) the amount of any Dilution Factors taken into account in the calculation of the original Sale Price thereof. Each Originator shall ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into any Collection Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Originator or the its Related Buyer of any breach of representation, warranty or covenant described in Sections Section 4.01(g), 4.01(k), 4.01(t), 4.01(u), 4.01(v), 4.02(k4.01(w), 4.02(l), 4.02(m), 4.03(a), 4.03(b), 4.03(c), 4.03(d) and 4.03(k4.03(i) with respect to any Transferred Receivable, the party discovering the same shall give prompt written notice thereof to the other parties heretoother. The Originator that has breached such representation, warranty or covenant shall, if requested by notice from the Buyerits Related Buyer (or its assignee), on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the such Buyer (or its assignee) for cash remitted to the applicable Collection Account, (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Buyer on such Business Day, or (c) in the case of the Member, make a capital contribution in cash to the its Related Buyer by remitting the amount of such capital contribution to the Collection Accountcash, in each case, to the applicable Collection Account in an amount (the “Rejected Amount”) equal to the Billed Amount of such Transferred Receivable minus the sum of (i) any Collections received in respect thereof plus (ii) the amount of any Dilution Factors taken into account in the calculation of the original Sale Price thereof. Each such Originator shall ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into any a Collection Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Originator or the Buyer of any breach with respect to any Receivable of any (a) representation, warranty or covenant relating to the absence of Dilution Factors, or (b) representation, warranty or covenant described in Sections 4.01(g), 4.01(k), 4.01(t4.01(s), 4.01(u), 4.01(v4.01(x), 4.02(k4.01(y), 4.02(l), 4.03(a), 4.03(b), 4.03(c), 4.03(n) and 4.03(k) with respect to any Transferred Receivableor 4.03(o), the party discovering the same shall give prompt written notice thereof to the other parties hereto. The Originator that breached such representation, warranty or covenant shall, if requested by notice from the Buyer, on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Buyer for cash remitted to the applicable Collection Account, Account or (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Buyer on such Business Day, or (c) in the case Day without payment of the Member, make a capital contribution in cash to the Buyer by remitting the amount of such capital contribution to the Collection AccountSale Price therefor, in each case, case in an amount (the “Rejected Amount”) equal to the Billed Amount of such Transferred Receivable minus the sum of (i) Collections received in respect thereof plus (ii) the amount of any Dilution Factors taken into account in the calculation of the original Original Sale Price thereof. Each Originator shall ensure take reasonable steps to assure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into any Collection Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Originator or the Buyer of any breach of representation, warranty or covenant described in Sections Section 4.01(g), 4.01(k4.01(l), 4.01(t), 4.01(u), 4.01(v), 4.02(k4.02(l), 4.03(a), 4.03(b), 4.03(c) ), 4.03(d), 4.03(k), and 4.03(k4.03(l) with respect to any Transferred Receivable, the party discovering the same shall give prompt written notice thereof to the other parties hereto. The Originator that breached such representation, warranty or covenant shall, if requested by notice from the Buyer, on the first second Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Buyer for cash remitted to the applicable a Collection Account or a Concentration Account, (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Buyer on such Business Day, or (c) in the case of the Member, make a capital contribution in cash to the Buyer by remitting the amount of such capital contribution to the Collection Account, in each case, in an amount (the “Rejected Amount”) equal to the Billed Amount of such Transferred Receivable minus the sum of (i) Collections received in respect thereof plus (ii) the amount of any Dilution Factors taken into account in the calculation of the original Sale Price thereof. Each Originator shall ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into any Collection Account.. Receivables Sale and Servicing Agreement