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

Breach of Representations, Warranties or Covenants. Upon discovery by any Purchaser Agent of any breach of representation, warranty or covenant described in Section 4.01(g), 4.01(r), 4.01(t), 4.01(v), 5.01(c), 5.01(g), 5.03(a), 5.03(b), 5.03(c), 5.03(d), 5.03(g) and 5.03(l) by the Seller with respect to any Transferred Receivable, the Purchaser Agent shall give prompt written notice thereof to the other parties hereto. The Seller shall, if requested by such notice from the Purchaser Agent, on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Purchasers for cash remitted to a Collection Account or (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Purchasers on such Business Day, in each case, in an amount equal to the Billed Amount of such affected Transferred Receivable minus the Collections received in respect thereof (the “Rejected Amount”). Seller shall, or shall cause the Servicer to, ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into a Collection Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Purchaser Agent Transferor or Buyer of any breach of representation, warranty or covenant described in Section 4.01(g), 4.01(r4.01(k), 4.01(t4.01(u), 4.01(v), 5.01(c4.01(w), 5.01(g4.03(l), 5.03(a4.03(m), 5.03(b4.04(a), 5.03(c4.04(b), 5.03(d4.04(c), 5.03(g4.04(d) and 5.03(l4.04(i) by the Seller with respect to any Transferred Receivable, the Purchaser Agent party discovering the same shall give prompt written notice thereof to the other parties hereto. The Seller Transferor that has breached such representation, warranty or covenant shall, if requested by such notice from the Purchaser AgentBuyer, on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Purchasers Buyer for cash remitted to a Collection Account or (b) transfer ownership make a capital contribution in cash to Buyer by remitting the amount of such capital contribution to a new Eligible Receivable or new Eligible Receivables to the Purchasers on such Business DayCollection Account, in each case, in an amount (the “Rejected Amount”) equal to the Billed Amount of such affected Transferred Receivable minus the any Collections received in respect thereof (the “Rejected Amount”)thereof. Seller shall, or Each such Transferor shall cause the Servicer to, ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into a Collection Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Purchaser Administrative Agent of any breach of representation, warranty or covenant described in Section 4.01(g), 4.01(r), 4.01(t), 4.01(v), 5.01(c), 5.01(g), 5.03(a), 5.03(b), 5.03(c), 5.03(d), 5.03(g) and 5.03(l) by the Seller with respect to any Transferred Receivable, the Purchaser Administrative Agent shall give prompt written notice thereof to the other parties hereto. The Seller shall, if requested by such notice from the Purchaser Administrative Agent, on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Purchasers for cash remitted to a Collection the applicable Lockbox Account or (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Purchasers on such Business Day, in each case, in an amount equal to the Billed Amount of such affected Transferred Receivable minus the Collections received in respect thereof (the “Rejected Amount”). Seller shall, or shall cause the Servicer to, use commercially reasonable efforts to ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into a Collection any Lockbox Account.

Breach of Representations, Warranties or Covenants. Upon discovery by any Purchaser Agent Originator or its Related Buyer of any breach of representation, warranty or covenant described in Section 4.01(g), 4.01(r4.01(k), 4.01(t4.01(u), 4.01(v), 5.01(c4.01(w), 5.01(g4.02(l), 5.03(a4.02(m), 5.03(b4.03(a), 5.03(c4.03(b), 5.03(d4.03(c), 5.03(g4.03(d) and 5.03(l4.03(i) by the Seller with respect to any Transferred Receivable, the Purchaser Agent party discovering the same shall give prompt written notice thereof to the other parties heretoother. The Seller Originator that has breached such representation, warranty or covenant shall, if requested by such notice from the Purchaser Agentits Related Buyer (or its assignee), on the first Business Day following receipt of such notice, either (a) repurchase the affected Transferred Receivable from the Purchasers such Buyer (or its assignee) for cash remitted or make a capital contribution in cash to a Collection Account or (b) transfer ownership of a new Eligible Receivable or new Eligible Receivables to the Purchasers on such Business Dayits Related Buyer by remitting cash, in each case, to the applicable Collection Account in an amount (the “Rejected Amount”) equal to the Billed Amount of such affected Transferred Receivable minus the any Collections received in respect thereof (the “Rejected Amount”)thereof. Seller shall, or Each such Originator shall cause the Servicer to, ensure that no Collections or other proceeds with respect to a Transferred Receivable so reconveyed to it are paid or deposited into a Collection Account.