Common use of Optional Purchase of All Receivables; Termination Notice Clause in Contracts

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% or less of the Original Pool Balance, Seller Servicer shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller Servicer shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (ai) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (bii) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% 5% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account Accounts and any funds or investments therein. To exercise such option, Seller shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Payment Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% 5% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller shall deposit pursuant to Section 5.4 5.3 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% 5% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% or less of the Original Pool Balance, Seller Servicer shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller Servicer shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.

Optional Purchase of All Receivables; Termination Notice. (a) On the last day of any Collection Period immediately preceding a Determination Date as of which the then outstanding Pool Balance is [10]% 5% or less of the Original Pool Balance, Seller shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts, and the Certificate Distribution Account and any funds or investments therein. To exercise such option, Seller 42 SALE AND SERVICING AGREEMENT shall deposit pursuant to Section 5.4 in the Collection Account an amount which, when added to the amounts on deposit in the Collection Account for such Distribution Date, equals the sum of (a) the unpaid principal amount of the then outstanding Class B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate Balance plus accrued and unpaid interest thereon. The Class B Notes and the Certificates will be redeemed concurrently therewith.