Common use of Optional Purchase of Defaulted Business Loans Clause in Contracts

Optional Purchase of Defaulted Business Loans. The Servicer shall have the right, but not the obligation, to purchase any Defaulted Business Loan for a purchase price equal to the then outstanding principal balance of such Defaulted Business Loan as of the date of such purchase plus accrued interest thereon at the Adjusted Business Loan Remittance Rate, which purchase price shall be deposited in the Principal and Interest Account on the next succeeding Determination Date. In no event, however, may the aggregate principal balance of all Defaulted Business Loans purchased pursuant to this Section 2.10 exceed 10% of the sum of (i) the Original Pool Principal Balance and (ii) the initial Pre-Funded Amount.

Optional Purchase of Defaulted Business Loans. The Servicer shall have the right, but not the obligation, to purchase any Defaulted Business Loan for a purchase price equal to the then outstanding principal balance of such Defaulted Business Loan as of the date of such purchase plus accrued interest thereon at the Adjusted Business Loan Remittance Rate, which purchase price shall be deposited in the Principal and Interest Account on the next succeeding Determination Date. In no event, however, may the aggregate principal balance of all Defaulted Business Loans purchased pursuant to this Section 2.10 exceed 105% of the sum of (i) the Original Pool Principal Balance and (ii) the initial Pre-Funded Amount.