Common use of [Depositor Repurchase Option Clause in Contracts

[Depositor Repurchase Option. (a) The Depositor shall have an option to purchase a portion of the Receivables on a Distribution Date, which may be exercised only one time for an amount of Receivables having an aggregate Receivable Principal Balance no greater than [ ]% of the Initial Aggregate Receivables Principal Balance as of such Distribution Date. The purchase price shall equal the Receivable Principal Balance of the repurchased Receivables, plus accrued and unpaid interest on the repurchased Receivables through the end of the calendar month in which the repurchase occurs. To exercise such option, the Servicer shall (i) furnish to the Issuing Entity and the Indenture Trustee notice of its intention to exercise such option and of the purchase date (such notice to be furnished not later than ten (10) Business Days prior to the Distribution Date related to such purchase date) and (ii) deposit in the Collection Account when required pursuant to clause (b) below an amount equal to the aggregate of the Receivable Principal Balance, plus accrued and unpaid interest, of each Receivable purchased by the Depositor on the related Distribution Date. (b) The Servicer shall make such deposit set forth in clause (a)(ii) above in immediately available funds on the Distribution Date related to such purchase date, except that if any Monthly Remittance Condition is not satisfied on such purchase date, such deposit shall instead be made on such purchase date.]

[Depositor Repurchase Option. (a) The Depositor shall have an option to purchase a portion of the Receivables on a Distribution Date, which may be exercised only one time for an amount of Receivables having an aggregate Receivable Principal Balance no greater than [ ]% of the Initial Aggregate Receivables Principal Balance as of such Distribution Date. The purchase price shall equal the Receivable Principal Balance of the repurchased Receivables, plus accrued and unpaid interest on the repurchased Receivables through the end of the calendar month in which the repurchase occurs. To exercise such option, the Servicer shall (i) furnish to the Issuing Entity and the Indenture Trustee notice of its intention to exercise such option and of the purchase date (such notice to be furnished not later than ten twenty-five (1025) Business Days days prior to the Distribution Date related to such purchase date) and (ii) deposit in the Collection Account when required pursuant to clause (b) below an amount equal to the aggregate of the Receivable Principal Balance, plus accrued and unpaid interest, of each Receivable purchased by the Depositor on the related Distribution Date. (b) The Servicer shall make such deposit set forth in clause (a)(ii) above in immediately available funds on the Distribution Date related to such purchase date, except that if any Monthly Remittance Condition is not satisfied on such purchase date, such deposit shall instead be made on such purchase date.]

[Depositor Repurchase Option. (a) The Depositor shall have an option to purchase a portion of the Receivables on a Distribution DateReceivables, which may be exercised only one time for an amount of Receivables having an aggregate Receivable Principal Balance no greater than [ ]% of the Initial Aggregate Receivables Principal Balance as of such Distribution DateBalance. The purchase price shall equal the Receivable Principal Balance of the repurchased Receivables, plus accrued and unpaid interest on the repurchased Receivables through the end of the calendar month in which the repurchase occurs. To exercise such option, the Servicer shall (i) furnish to the Issuing Entity and the Indenture Trustee notice of its intention to exercise such option and of the purchase date (such notice to be furnished not later than ten twenty-five (1025) Business Days days prior to the Distribution Date related to such purchase date) and (ii) deposit in the Collection Account when required pursuant to clause (b) below an amount equal to the aggregate of the Receivable Principal Balance, plus accrued and unpaid interest, of each Receivable purchased by the Depositor on the related Distribution Date. (b) The Servicer shall make such deposit set forth in clause (a)(ii) above in immediately available funds on the Distribution Date related to such purchase date, except that if any Monthly Remittance Condition is not satisfied on such purchase date, such deposit shall instead be made on such purchase date.]