Common use of Consideration for Repurchase Clause in Contracts

Consideration for Repurchase. In consideration for the repurchase of a Sold Receivable required by Section 2.3(b), the Seller will pay to the Buyer the Purchase Price for such Sold Receivable. Upon payment of such purchase price, the Buyer will without further action be deemed to sell and assign to the Seller, without recourse, representation or warranty, all the right, title and interest of the Buyer in, to and under such Sold Receivable and all Related Security. In connection with any such repurchase, the Buyer will execute such documents and take such other actions as are reasonably requested by the Seller to effect the conveyance of such Sold Receivable. The obligation of the Seller to repurchase a Sold Receivable pursuant to Section 2.3(b) constitutes the sole remedy for a breach specified in Section 2.3(a) available to the Buyer and to the Noteholders (or the Owner Trustee or the Indenture Trustee on behalf of the Secured Parties).

Consideration for Repurchase. In consideration for the repurchase of a Sold Receivable required by Section 2.3(b2.5(c), the Seller will pay to the Buyer the Purchase Price for such Sold Receivable. Upon payment of such purchase price, the Buyer will without further action be deemed to sell and assign to the Seller, without recourse, representation or warranty, all the right, title and interest of the Buyer in, to and under such Sold Receivable and all Related Security. In connection with any such repurchase, the Buyer will execute such documents and take such other actions as are reasonably requested by the Seller to effect the conveyance of such Sold Receivable. The obligation of the Seller to repurchase a Sold Receivable pursuant to Section 2.3(b2.5(c) constitutes the sole remedy for a breach specified in Section 2.3(a2.5(b) available to the Buyer and to the Noteholders (or the Owner Trustee or the Indenture Trustee on behalf of the Secured Parties).