Common use of Purchase Constitutes Sole Remedy for Breach Clause in Contracts

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 4 contracts

Samples: Servicing Supplement (Daimler Trust), Servicing Supplement (Daimler Trust), Servicing Supplement (Daimler Trust)

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Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2020-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2020-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2020-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2020-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2020-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2020-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2020-B), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2020-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2019-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2019-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: 2019 B Servicing Supplement (Mercedes-Benz Auto Lease Trust 2019-B), 2019 B Servicing Supplement (Mercedes-Benz Auto Lease Trust 2019-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2021-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2021-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2021-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2021-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2019-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2019-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2019-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2019-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2018-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2018-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2018-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2018-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2017-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2017-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: 2017 a Servicing Supplement (Mercedes-Benz Auto Lease Trust 2017-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2017-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2024-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2024-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2024-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2024-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2016-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2016-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2016-B), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2016-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-20[__]-[__] Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-20[__]-[__] ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Daimler Trust), Servicing Supplement (Daimler Trust)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2016-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2016-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2016-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2016-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2012-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2012-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2012-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2012-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2018-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2018-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2018-B), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2018-B)

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Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2023-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2023-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2023-A), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2023-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2024-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2024-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2024-B), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2024-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2021-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2021-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 2 contracts

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2021-B), Servicing Supplement (Mercedes-Benz Auto Lease Trust 2021-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2013-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2013-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 1 contract

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2013-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2013-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2013-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 1 contract

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2013-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2014-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2014-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 1 contract

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2014-A)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2015-B Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2015-B ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 1 contract

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2015-B)

Purchase Constitutes Sole Remedy for Breach. The sole remedy of the Collateral Agent, the 201[__]-[__] 2015-A Exchange Noteholder, the Indenture Trustee and the Holders of the 201[__]-[__] 2015-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).

Appears in 1 contract

Samples: Servicing Supplement (Mercedes-Benz Auto Lease Trust 2015-A)

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