Common use of Optional Purchase of All Receivables Clause in Contracts

Optional Purchase of All Receivables. (a) On each Payment Date as of which the Pool Balance is equal to or less than 5% of the Initial Pool Balance, the Servicer shall have the option to purchase the Receivables (the “Optional Purchase”). To exercise such Optional Purchase, the Servicer shall deposit into the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemption, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is equal to 10% or less than 5% of the Initial Pool Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Receivables (Owner Trust Estate, other than the “Optional Purchase”)Trust Accounts. To exercise such Optional Purchaseoption, the Servicer shall deposit into pursuant to Section 5.05 in the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Purchase Amount for the Receivables (including Defaulted Receivables, less (ii) the amounts on deposit in the Reserve Account on such date), and shall succeed to all interests in and to the ReceivablesTrust. The Notwithstanding the foregoing, the Servicer shall not be permitted to exercise of such option shall cause all outstanding Notes unless the amount to be due and payable under the Indenture and effect a redemption, deposited in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e)the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid interest (including any overdue interest and premium) thereon and all amounts owing to the Swap Counterparty under the Interest Rate Swaps, if any. (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Trust Owner Trustee will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date as of with respect to which the Pool Balance is equal to or less than 5% of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables from the Trust. Upon providing twenty (20) days’ prior notice of the “Optional Purchase”). To exercise such Optional Purchaseredemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is equal to 10% or less than 5% of the Initial Pool Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Receivables (Owner Trust Estate, other than the “Optional Purchase”)Trust Accounts. To exercise such Optional Purchaseoption, the Servicer shall deposit into pursuant to Section 5.05 in the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Purchase Amount for the Receivables (including Defaulted Receivables, less (ii) the amounts on deposit in the Reserve Account on such date), and shall succeed to all interests in and to the ReceivablesTrust. The Notwithstanding the foregoing, the Servicer shall not be permitted to exercise of such option shall cause all outstanding Notes unless the amount to be due and payable under the Indenture and effect a redemption, deposited in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e)the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes and all accrued but unpaid interest (including any overdue interest and premium) thereon. (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Trust Owner Trustee will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5% of the sum of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days’ prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is equal to 10% or less than 5% of the Initial Pool Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Receivables (Owner Trust Estate, other than the “Optional Purchase”)Trust Accounts. To exercise such Optional Purchaseoption, the Servicer shall deposit into pursuant to Section 5.05 in the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Purchase Amount for the Receivables (including Defaulted Receivables, less (ii) the amounts on deposit in the Reserve Account on such date), and shall succeed to all interests in and to the ReceivablesTrust. The Notwithstanding the foregoing, the Servicer shall not be permitted to exercise of such option shall cause all outstanding Notes unless the amount to be due and payable under the Indenture and effect a redemption, deposited in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e)the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid interest (including any overdue interest and premium) thereon and all amounts owing to the Swap Counterparty under the Interest Rate Swaps. (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Trust Owner Trustee will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each Payment Date as of which the Pool Balance is equal to or less than 5% of the Initial Pool Balance, the Servicer shall have the option to purchase the Receivables (the “Optional Purchase”). To exercise such Optional Purchase, the Servicer shall deposit into the Collection Account pursuant to Section 5.04 an amount equal to [(i) )] the aggregate Purchased Amount for the Receivables[, less (ii) the amounts on deposit in the Reserve Account on such date, ,] and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemption, in whole but not in part, of all outstanding Notes. [To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e).] (b) As described in Article 9 of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5[__]% of the sum of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days’ prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is equal to 10% or less than 5% of the Initial Pool Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Receivables (Owner Trust Estate, other than the “Optional Purchase”)Trust Accounts. To exercise such Optional Purchaseoption, the Servicer shall deposit into pursuant to Section 5.05 in the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Purchase Amount for the Receivables (including Defaulted Receivables, less (ii) the amounts on deposit in the Reserve Account on such date), and shall succeed to all interests in and to the ReceivablesTrust. The Notwithstanding the foregoing, the Servicer shall not be permitted to exercise of such option shall cause all outstanding Notes unless the amount to be due and payable under the Indenture and effect a redemption, deposited in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e)the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid interest (including any overdue interest and premium) thereon and all amounts owing to the Swap Counterparty under the Interest Rate Swaps, if any. (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Trust Owner Trustee will succeed to the rights of, and assume but not the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is equal to 10% or less than 5% of the Initial Pool Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Receivables (Owner Trust Estate, other than the “Optional Purchase”)Trust Accounts. To exercise such Optional Purchaseoption, the Servicer shall deposit into pursuant to Section 5.05 in the Collection Account pursuant to Section 5.04 an amount equal to (i) the aggregate Purchased Purchase Amount for the Receivables (including Defaulted Receivables, less (ii) the amounts on deposit in the Reserve Account on such date), and shall succeed to all interests in and to the ReceivablesTrust. The Notwithstanding the foregoing, the Servicer shall not be permitted to exercise of such option shall cause all outstanding Notes unless the amount to be due and payable under the Indenture and effect a redemption, deposited in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e)the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid interest (including any overdue interest and premium) thereon and all amounts owing to the Swap Counterparty under the Interest Rate Swap. (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Trust Owner Trustee will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5% of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days’ prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5% of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables from the Trust. Upon providing twenty (20) days’ prior notice of the “Optional Purchase”). To exercise such Optional Purchaseredemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each Payment Determination Date as of which the Pool Balance is equal to or less than 510% of the Initial Pool Balance, the Master Servicer shall have the option to purchase the Receivables Receivables; provided however, that the amount to be paid for such purchase (as set forth in the “Optional Purchase”)following sentence) shall be sufficient to pay the full amount of principal and interest then due and payable on any Outstanding Notes in full and to pay any amounts due to the Indenture Trustee, the Owner Trustee and the Administrator, pursuant to the Basic Documents. To exercise such Optional Purchaseoption, the Master Servicer shall deposit into to the Collection Account pursuant to Section 5.04 an amount equal to the lesser of (i) the fair market value of the Receivables and (ii) aggregate Purchased Purchase Amount for the Receivables, less Receivables (iiincluding Receivables that became Liquidated Receivables during the related Collection Period) the amounts on deposit in the Reserve Account on such date, and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Master Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Master Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date as of with respect to which the Pool Balance is equal to or less than 5[___]% of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables from the Trust. Upon providing twenty (20) days’ prior notice of the “Optional Purchase”). To exercise such Optional Purchaseredemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5[__]% of the sum of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days' prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5[___]% of the sum of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days’ prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 5[__]% of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables from the Trust. Upon providing twenty (20) days’ prior notice of the “Optional Purchase”). To exercise such Optional Purchaseredemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.

Optional Purchase of All Receivables. (a) On each the Payment Date following the last day of a Collection Period as of which the Pool Balance is equal to or less than 510% of the sum of the Initial Pool BalanceBalance and on each Payment Date thereafter, the Servicer shall have the option to purchase the Receivables (from the “Optional Purchase”)Trust. To exercise such Optional PurchaseUpon providing 20 days’ prior notice of the redemption of the Notes to the Indenture Trustee pursuant to Section 10.01 of the Indenture, the Servicer shall deposit into to the Collection Note Distribution Account pursuant to Section 5.04 on the Business Day preceding the Redemption Date an amount equal to (i) the aggregate Purchased Amount for the Receivables, less (ii) the amounts on deposit in the Reserve Account on such date, Redemption Price and shall succeed to all interests in and to the Receivables. The exercise of such option shall cause all outstanding Notes to be due and payable under the Indenture and effect a redemptionretirement, in whole but not in part, of all outstanding Notes. To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 5.06(e). (b) As described in Article 9 IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. (c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Trust Owner Trustee will succeed to the rights of, and assume the obligations obligation to make payments to Certificateholders of, the Indenture Trustee pursuant to this Agreement.