Common use of Optional Purchase of Trust Estate Clause in Contracts

Optional Purchase of Trust Estate. If VCI is the Servicer, then VCI shall have the right at its option (the "Optional Purchase") to purchase the Trust Estate (other than the Reserve Account) from the Issuer on any Payment Date if, either before or after giving effect to any payment of principal required to be made on such Payment Date, the aggregate Net Pool Balance is less than or equal to 10% of the initial Net Pool Balance. The purchase price for the Trust Estate shall equal the greater of (a) the unpaid principal amount of the Notes plus accrued and unpaid interest thereon at the applicable Interest Rate up to but excluding the Redemption Date and (b) the fair market value of the Trust Estate (other than the Reserve Account) (the "Optional Purchase Price"), which amount shall be deposited by the Servicer into the Collection Account on the Redemption Date. If VCI, as Servicer, exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related Payment Date for the Redemption Price.

Optional Purchase of Trust Estate. If VCI is the Servicer, then VCI shall have the right at its option (the "“Optional Purchase"”) to purchase the Trust Estate (other than the Reserve Account) from the Issuer on any Payment Date if, either before or after giving effect to any payment of principal required to be made on such Payment Date, the aggregate Net Pool Balance is less than or equal to 10% of the initial Net Pool Balance. The purchase price for the Trust Estate shall equal the greater of (a) the unpaid principal amount of the Notes plus accrued and unpaid interest thereon at the applicable Interest Rate up to but excluding the Redemption Date and (b) the fair market value of the Trust Estate (other than the Reserve Account) (the "“Optional Purchase Price"”), which amount shall be deposited by the Servicer into the Collection Account on the Redemption Date. If VCI, as Servicer, exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related Payment Date for the Redemption Price.

Optional Purchase of Trust Estate. If VCI is the Servicer, then VCI shall have the right at its option (the "“Optional Purchase"”) to purchase the Trust Estate (other than the Reserve Account) from the Issuer on any Payment Date if, either before or after giving effect to any payment of principal required to be made on such Payment Date, the aggregate Net Pool Balance is less than or equal to 10% of the initial Net Pool Balance. The purchase price for the Trust Estate shall equal the greater of (a) the unpaid principal amount of the Notes plus accrued and unpaid interest thereon at the applicable Interest Rate up to but excluding the Redemption Date and (b) the fair market value of the Trust Estate (other than the Reserve Account) (the "“Optional Purchase Price"”), which amount shall be deposited by the Servicer into the Collection Account on the Redemption Date. If VCI, as Servicer, exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related Payment Date for the Redemption Price.