Common use of Purchase for Breach of Servicer’s Obligations Clause in Contracts

Purchase for Breach of Servicer’s Obligations. If a Responsible Person of the Servicer has knowledge, or receives notice from the Depositor, the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the Servicer’s obligations in Section 3.2(c) or (d) that has a material adverse effect on a Receivable or the rights of the Issuer or the Indenture Trustee in any Receivable, the Servicer will purchase the Receivable.

Purchase for Breach of Servicer’s Obligations. If a Responsible Person of the Servicer has knowledge, or receives notice from the Depositor, the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the Servicer’s 's obligations in Section 3.2(c) or (d) that has a material adverse effect on a Receivable or the rights of the Issuer or the Indenture Trustee in any Receivable, the Servicer will purchase the Receivable.

Purchase for Breach of Servicer’s Obligations. If a Responsible Person of the Servicer has knowledge, or receives notice from the Depositor, the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the Servicer’s obligations in Section 3.2(c) or (d) that has a material adverse effect on a Receivable or the rights of the Issuer or the Indenture Trustee in any Receivable, the Servicer will purchase the Receivable.

Purchase for Breach of Servicer’s Obligations. If a Responsible Person of the Servicer has knowledge, or receives notice from the Depositor, the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the Servicer’s obligations in Section Sections 3.2(c) or (d) that has a material adverse effect on a Receivable or the rights of the Issuer or the Indenture Trustee in any Receivable, the Servicer will purchase the Receivable.