Common use of Mandatory Repurchases and Substitutions for Breaches of Representations and Warranties Clause in Contracts

Mandatory Repurchases and Substitutions for Breaches of Representations and Warranties. Upon the receipt of notice by Bluegreen of a breach of any of its respective representations and warranties in Section 5 (on the date on which such representation or warranty was made) which materially and adversely affects the value of a Warehouse Timeshare Loan or the interests of the Securitization Depositor or any subsequent assignee of the Securitization Depositor therein, Bluegreen shall within 60 days of receipt of such notice, cure in all material respects the circumstance or condition which has caused such representation or warranty to be incorrect or either (i) repurchase the Securitization Depositor's or its assignee's interest in such related Defective Timeshare Loan from the Securitization Depositor or its assignee at the Repurchase Price or (ii) provide one or more Qualified Substitute Timeshare Loans and pay the related Substitution Shortfall Amounts, if any.

Mandatory Repurchases and Substitutions for Breaches of Representations and Warranties. Upon the receipt of notice by Bluegreen the Servicer of a breach of any of its respective representations and warranties in Section 5 (on as of the date on which such representation or warranty was made) or covenants in Section 5 which materially and adversely affects the value of a Warehouse Timeshare Loan or the interests of the Securitization Depositor Purchaser or any subsequent assignee of the Securitization Depositor Purchaser therein, Bluegreen shall the Servicer shall, within 60 days of receipt of such notice, cure in all material respects the circumstance or condition which has caused such representation or warranty to be incorrect or covenant to be breached or either (i) repurchase the Securitization Depositor's Purchaser’s or its assignee's ’s interest in such related defective Timeshare Loan (the “Defective Timeshare Loan Loan”) from the Securitization Depositor Purchaser or its assignee at the Repurchase Price or (ii) provide one or more Qualified Substitute Timeshare Loans and pay the related Substitution Shortfall Amounts, if any.

Mandatory Repurchases and Substitutions for Breaches of Representations and Warranties. Upon the receipt of notice by Bluegreen the Servicer of a breach of any of its respective representations and warranties in Section 5 (on as of the date on which such representation or warranty was made) or covenants in Section 5 which materially and adversely affects the value of a Warehouse Timeshare Loan or the interests of the Securitization Depositor Purchaser or any subsequent assignee of the Securitization Depositor Purchaser therein, Bluegreen shall the Servicer shall, within 60 days of receipt of such notice, cure in all material respects the circumstance or condition which has caused such representation or warranty to be incorrect or covenant to be breached or either (i) repurchase the Securitization DepositorPurchaser's or its assignee's interest in such related defective Timeshare Loan (the “Defective Timeshare Loan Loan”) from the Securitization Depositor Purchaser or its assignee at the Repurchase Price or (ii) provide one or more Qualified Substitute Timeshare Loans and pay the related Substitution Shortfall Amounts, if any.

Mandatory Repurchases and Substitutions for Breaches of Representations and Warranties. Upon the receipt of notice by Bluegreen Originator of a breach of any of its respective representations and warranties in Section 5 (on as of the date on which such representation or warranty was made) or covenants in Section 5 which materially and adversely affects the value of a Warehouse Timeshare Loan or the interests of the Securitization Depositor Issuer or any subsequent assignee of the Securitization Depositor Issuer therein, Bluegreen Originator shall within 60 days of receipt of such notice, cure in all material respects the circumstance or condition which has caused such representation or warranty to be incorrect or covenant to be breached or either (i) repurchase the Securitization Depositor's Issuer’s or its assignee's ’s interest in such related defective Timeshare Loan (the “Defective Timeshare Loan Loan”) from the Securitization Depositor Issuer or its assignee at the Repurchase Price or (ii) provide one or more Qualified Substitute Timeshare Loans and pay the related Substitution Shortfall Amounts, if any.