Common use of Optional Repurchase of the Series Clause in Contracts

Optional Repurchase of the Series. 1997-1 Participation Interest. (a) The Seller may, with 10 days prior written notice to the Owner Trustee, Servicer and the Indenture Trustee, purchase the entire Series 1997-1 Participation Interest, on any Payment Date in which the Aggregate Security Balance is equal to or less than ten percent of the initial Aggregate Security Balance. The Seller shall deposit into the Payment Account on the Business Day prior to the Payment Date on which such purchase is to occur, an amount equal to the principal balance of the Series 1997-1 Participation Interest and the amount of interest and Certificate Yield to be distributed to the Security holders pursuant to Section 3.05(a) of the Indenture as of such Payment Date. ARTICLE IV

Optional Repurchase of the Series. 1997-1 2 Participation Interest. (a) The Seller may, with 10 days prior written notice to the Owner Trustee, Servicer and the Indenture Trustee, purchase the entire Series 1997-1 2 Participation Interest, on any Payment Date in which the Aggregate Security Balance is equal to or less than ten percent of the initial Aggregate Security Balance. The Seller shall deposit into the Payment Account on the Business Day prior to the Payment Date on which such purchase is to occur, an amount equal to the principal balance of the Series 1997-1 1997- 2 Participation Interest and the amount of interest and Certificate Yield to be distributed to the Security holders pursuant to Section 3.05(a) of the Indenture as of such Payment Date. ARTICLE IV.

Optional Repurchase of the Series. 1997-1 2 Participation Interest. (a) The Seller may, with 10 days prior written notice to the Owner Trustee, Servicer and the Indenture Trustee, purchase the entire Series 1997-1 2 Participation Interest, on any Payment Date in which the Aggregate Security Balance is equal to or less than ten percent of the initial Aggregate Security Balance. The Seller shall deposit into the Payment Account on the Business Day prior to the Payment Date on which such purchase is to occur, an amount equal to the principal balance of the Series 1997-1 2 Participation Interest and the amount of interest and Certificate Yield to be distributed to the Security holders pursuant to Section 3.05(a) of the Indenture as of such Payment Date. ARTICLE IV.

Optional Repurchase of the Series. 1997-1 Participation Interest. (a) The Seller may, with 10 days prior written notice to the Owner Trustee, Servicer and the Indenture Trustee, purchase the entire Series 1997-1 Participation Interest, on any Payment Date in which the Aggregate Security Balance is equal to or less than ten percent of the initial Aggregate Security Balance. The Seller shall deposit into the Payment Account on the Business Day prior to the Payment Date on which such purchase is to occur, an amount equal to the principal balance of the Series 1997-1 Participation Interest and the amount of interest and Certificate Yield to be distributed to the Security holders pursuant to Section 3.05(a) of the Indenture as of such Payment Date. ARTICLE IV.