Common use of Objection and Repurchase Clause in Contracts

Objection and Repurchase. If any holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report providing notice thereof pursuant to Section 5.01 above, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 hereof, the Seller shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 hereof.

Appears in 4 contracts

Samples: Sales and Servicing Agreement (Copelco Capital Funding Corp X), Sales and Servicing Agreement (Copelco Capital Funding Corp X), Sales and Servicing Agreement (Copelco Capital Funding Corp X)

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Objection and Repurchase. If any holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report Certificate providing notice thereof pursuant to Section 5.01 above3.9, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 9.1 hereof, the Seller Contributor shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 9.1 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller Vendor Services shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 2.6 hereof.

Appears in 2 contracts

Samples: Contribution and Servicing Agreement (Green Tree Lease Finance 1998-1 LLC), Contribution and Servicing Agreement (Conseco Finance Lease 2000-1 LLC)

Objection and Repurchase. If any holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report Certificate providing notice thereof pursuant to Section 5.01 above3.9, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 9.1 hereof, the Seller Vendor Services shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 9.1 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller Vendor Services shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 2.6 hereof.

Appears in 2 contracts

Samples: Contribution and Servicing Agreement (Green Tree Lease Finance 1998-1 LLC), Contribution and Servicing Agreement (Green Tree Lease Finance 1997-1 LLC)

Objection and Repurchase. If any holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report Certificate providing notice thereof pursuant to Section 5.01 above3.9, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 9.1 hereof, the Seller Vendor Services shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 9.1 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller Vendor Services shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 2.6 hereof.

Appears in 1 contract

Samples: Contribution and Servicing Agreement (Green Tree Lease Finance Ii Inc)

Objection and Repurchase. If any holder of the Notes or the Certificates objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report providing notice thereof pursuant to Section 5.01 above4.8, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 hereof5.4, the Seller Transferor shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 hereof5.4. Following such presentation, the substitution shall remain effective if each person Person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller Transferor shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 hereof5.2.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Provident Lease Receivables Corp)

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Objection and Repurchase. If any holder Holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report providing notice thereof pursuant to Section 5.01 above, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 8.01 hereof, the Seller Transferor shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 8.01 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller Transferor shall be required to repurchase such Lease in accordance a manner consistent with the provisions of Section 4.05 4.04 hereof.

Appears in 1 contract

Samples: Servicing Agreement (Charter Equipment Lease 1998-1 LLC)

Objection and Repurchase. If any holder of the Notes objects to any substitution of Leases within ten days of receipt of the Servicer's monthly report providing notice thereof pursuant to Section 5.01 6.01 above, on the grounds either that any Substitute Lease or Additional Lease is not an Eligible Lease within the meaning of the definition thereof or that such substitution or addition is otherwise not permitted under the provisions of Section 9.01 11.01 hereof, the Seller shall be entitled to present such additional information as it deems appropriate in an effort to demonstrate that such Lease is an Eligible Lease and that such substitution is permitted under the provisions of Section 6.01 11.01 hereof. Following such presentation, the substitution shall remain effective if each person originally objecting to the substitution withdraws his objection. If the conditions specified in the preceding sentence are not satisfied, or if at any time it is established that any lease was not, at the time of substitution, an Eligible Lease, then the Seller shall be required to repurchase such Lease in accordance with the provisions of Section 4.05 5.04 hereof.

Appears in 1 contract

Samples: Sales and Servicing Agreement (Copelco Capital Funding Corp Xi)

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