Common use of Optional Repurchase of Receivables Clause in Contracts

Optional Repurchase of Receivables. (i) In connection with any termination of the Purchase Facility and the reduction of the Purchasers’ Total Commitment to zero pursuant to Section 3.2(c), the Sellers may elect, upon ten (10) Business Days’ prior written notice to the Collateral Agent, the Administrative Agents and each Purchaser, to repurchase all Receivables, Related Assets and Collections from the Collateral Agent relating to each Receivable Pool on the effective date of the termination of the Purchase Facility designated pursuant to Section 3.2(c) at a price equal to the outstanding Purchasers’ Total Investment and all Obligations and other amounts owing to the Collateral Agent, the Administrative Agents, each Purchaser and the other Affected Parties as of the effective date of such repurchase. Upon the prepayment in whole of the outstanding Purchasers’ Total Investment in accordance with this Section, (i) all right, title and interest of the Collateral Agent, the Administrative Agents, the Purchasers and the other Affected Parties in, to or under the Receivables, Related Assets and Collections shall transfer to the Sellers and their successors and assigns, (ii) the right, title and interest of the Collateral Agent, the Administrative Agents, the Purchasers and the other Affected Parties in the Receivables, Related Assets and Collections shall thereupon cease, terminate and become void, (iii) the obligations of the Purchasers, Purchaser Agents, the Collateral Agent or the Administrative Agents to pay the unpaid RPA Deferred Purchase Price shall terminate and shall be deemed satisfied and discharged, in each case without any further action on the part of any Person, (iv) none of the Purchasers, Purchaser Agents, the Collateral Agent or the Administrative Agents shall have any further obligation to make any payment in respect of the RPA Deferred Purchase Price and (v) the Purchasers’ Total Commitment shall be reduced to zero.

Optional Repurchase of Receivables. (i) In connection with any termination of the Purchase Facility and the reduction of the Purchasers’ Total Commitment to zero pursuant to Section 3.2(c), the Sellers may elect, upon ten (10) Business Days’ prior written notice to the Collateral Agent, the Administrative Agents Agent, and each PurchaserPurchaser Agent, to repurchase all Receivables, Related Assets Assets, and Collections from the Collateral Agent relating to each Receivable Pool on the effective date of the termination of the Purchase Facility designated pursuant to Section 3.2(c) at a price equal to the outstanding Purchasers’ Total Investment and all Obligations and other amounts owing to the Collateral Agent, the Administrative AgentsAgent, each Purchaser, each Purchaser Agent and the other Affected Parties as of the effective date of such repurchase. Upon the prepayment in whole of the outstanding Purchasers’ Total Investment in accordance with this Section, (i) all right, title title, and interest of the Collateral Agent, the Administrative AgentsAgent, the Purchasers Purchasers, and the other Affected Parties in, to or under the Receivables, Related Assets Assets, and Collections shall transfer to the Sellers and their successors and assigns, (ii) the right, title title, and interest of the Collateral Agent, the Administrative AgentsAgent, the Purchasers Purchasers, and the other Affected Parties in the Receivables, Related Assets Assets, and Collections shall thereupon cease, terminate terminate, and become void, (iii) the obligations of the Purchasers, Purchaser Agents, the Collateral Agent Agent, or the Administrative Agents Agent to pay the unpaid RPA Deferred Purchase Price shall terminate and shall be deemed satisfied and discharged, in each case without any further action on the part of any Person, (iv) none of the Purchasers, Purchaser Agents, the Collateral Agent Agent, or the Administrative Agents Agent shall have any further obligation to make any payment in respect of the RPA Deferred Purchase Price Price, and (v) the Purchasers’ Total Commitment shall be reduced to zero.