Optional Repurchase of Defaulted Contracts. The Servicer may, but shall have no obligation to, repurchase a Defaulted Contract, which was originated by DFS, at any time, at a price equal to the Contract Principal Balance for such Defaulted Contract; provided that the aggregate amount of repurchases made under this section shall not exceed an amount equal to 15% of the aggregate Contract Principal Balance of the Contracts originated by DFS as of the Cut-off Date.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (CIT Equipment Collateral 2008-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC)
