Common use of Option to Repurchase Clause in Contracts

Option to Repurchase. 12.1 The German Seller shall have the right but not the obligation, to request to repurchase from the Purchaser one or more Purchased Receivables (which request, for the avoidance of doubt, the Purchaser may decline) by delivering to the Purchaser a written request (the Repurchase Request) in the form set out in Schedule 3. 12.2 On the Settlement Date immediately following delivery of such Repurchase Request, or, if such Settlement Date falls less than five (5) Business Days after the delivery of the Repurchase Request, on the Settlement Date thereafter, provided that the Purchaser has countersigned and delivered to the German Seller such Repurchase Request and that any conditions precedent to such repurchase stipulated by the Purchaser have been satisfied, the German Seller shall pay to the Purchaser the Face Amount of the Purchased Receivables identified in the Repurchase Request (the Repurchase Amount) less any Collections previously received by the Purchaser in respect of such Purchased Receivables. 12.3 Notwithstanding any provision to the contrary in this Agreement, if the Repurchase Amount corresponding to the Purchased Receivables relating to any Repurchase Request is not paid in full by the German Seller on the corresponding Settlement Date, no repurchase of such Relevant Receivables shall take place on the Settlement Date and any acceptance relating thereto shall be automatically null and void (auflösende Bedingung). Any such partial payment shall be either returned to the German Seller or applied by way of set-off against any payment obligation of the German Seller in accordance with Clause 6.2.

Option to Repurchase. 12.1 The German 14.1 Pursuant and subject to Article L. 214-43 of the French Monetary and Financial Code, the French Seller shall have the right but not the obligation, to request to repurchase from the Purchaser FCT one or more Purchased Receivables which have become due (créances échues) or which have been accelerated (créances déchues du terme) pursuant to the meaning ascribed to each such terms in the French Monetary and Financial Code (which request, for the avoidance of doubt, the Purchaser FCT may decline) ), by delivering to the French Purchaser a written request (the Repurchase Request) in the form set out in Schedule 33 (Form of Repurchase Request). 12.2 14.2 On the Settlement Date immediately following delivery of such Repurchase Request, or, if such Settlement Date falls less than five (5) Business Days after the delivery of the Repurchase Request, on the Settlement Date thereafter, provided that the French Purchaser has countersigned and delivered to the German French Seller such Repurchase Request and that any conditions precedent to such repurchase stipulated by the French Purchaser have been satisfied, the German French Seller shall pay to the French Purchaser the Face Amount of the Purchased Receivables identified in the Repurchase Request (the Repurchase Amount) less any Collections previously received by the Purchaser in respect of such Purchased ReceivablesReceivables by the French Purchaser (the Repurchase Amount). 12.3 14.3 Notwithstanding any provision to the contrary in this Agreement, if the Repurchase Amount corresponding to the Purchased Receivables relating to any Repurchase Request is not paid in full by the German French Seller on the corresponding Settlement Date, no repurchase of such Relevant Receivables shall take place on the Settlement Date and any acceptance Transfer Document (Acte de Cession de Créances) relating thereto shall be automatically null and void (auflösende Bedingung)void. Any such partial payment shall be either returned to the German French Seller or applied by way of set-off against any payment obligation of the German French Seller in accordance with Clause 6.27.2.

Option to Repurchase. 12.1 The German Italian Seller shall have the right but not the obligation, to request to repurchase without recourse (pro soluto) from the Purchaser one or more Purchased Receivables (which request, excluding for the avoidance of doubt, doubt any Purchased Receivable which the Purchaser has already transferred to third parties or which has already been cashed in full and which request the Purchaser may decline) by delivering to the Purchaser a written request (the Repurchase Request) in the form set out in Schedule 3. 12.2 On the Settlement Date immediately following delivery of such Repurchase Request, or, if such Settlement Date falls less than five (5) Business Days after the delivery of the Repurchase Request, on the Settlement Date thereafter, provided that the Purchaser has countersigned and delivered to the German Italian Seller such Repurchase Request specifying the Purchased Receivables which the Purchaser has agreed to retransfer without recourse (pro soluto) to the Italian Seller, and that any conditions precedent to such repurchase stipulated by the Purchaser have been satisfied, the German Italian Seller shall pay to the Purchaser the Face Amount proposed purchase price of the Purchased Receivables identified in the Repurchase Request (the Repurchase Amount) less any Collections previously received by the Purchaser in respect of such Purchased ReceivablesReceivables by the Purchaser (the Repurchase Amount). 12.3 Notwithstanding any provision to the contrary in this Agreement, if the Repurchase Amount corresponding to the Purchased Receivables relating to any Repurchase Request is not paid in full by the German Italian Seller on the corresponding Settlement Date, no repurchase any retransfer of such Relevant Purchased Receivables shall take place on be deemed automatically terminated (risolto), pursuant to and for all effect of article 1353 of the Settlement Date and any acceptance relating thereto shall be automatically null and void (auflösende Bedingung)Italian Civil Code. Any such partial payment shall be either returned to the German Italian Seller or applied by way of set-off against any payment obligation of the German Purchaser toward the Italian Seller in accordance with Clause 6.2or Italian Servicer.