Common use of Conveyance of Substitute Loans Clause in Contracts

Conveyance of Substitute Loans. (a) (i) Subject to Sections 2.01(d) and (e) and, as applicable, the satisfaction of the conditions set forth in Section 2.04(c), the Originator may, at its option (but shall not be obligated to) either: (A) contemporaneously convey to the Trust Depositor one or more Loans as described in Section 2.04(b); or (B) deposit to the Principal Collection Account an amount sufficient to purchase the Loan as to which a Substitution Event has occurred and then, prior to the expiry of the Substitution Period, convey to the Trust Depositor one or more Loans as described in Section 2.04(b) in exchange for the funds so deposited or a portion thereof.

Conveyance of Substitute Loans. (a) (i) Subject to Sections 2.01(d) and (e) and, as applicable, the satisfaction of the conditions set forth in Section 2.04(c), the Originator may, at its option (but shall not be obligated to) either: (A) contemporaneously convey to the Trust Depositor one or more Loans as described in Section 2.04(b); or (B) deposit to the Principal Collection Account an amount sufficient the Repurchase Amount with respect to purchase the any Loan as to which a Substitution Event has occurred and then, prior to the expiry of the Substitution Period, convey to the Trust Depositor one or more Loans as described in Section 2.04(b) in exchange for the funds so deposited or a portion thereof.