Common use of Purchase of Additional Balances Clause in Contracts

Purchase of Additional Balances. Pursuant to the Sale and Servicing Agreement, Principal Collections may be applied by the Master Servicer to purchase Additional Balances for the Trust during a Due Period. If on any Payment Date, Principal Collections are insufficient to purchase all Additional Balances required to be purchased on such Payment Date, the Transferor will advance funds to the Trust to purchase the Additional Balances that were not funded by Principal Collections. The Transferor will be entitled to reimbursement for any such advanced funds from Principal Collections remaining on any Payment Date, but only from the amounts released from the Trust pursuant to Section 5.01(a)II.(iii) of the Sale and Servicing Agreement. If the Transferor fails to advance to the Trust the amounts specified in the preceding paragraph, the Seller will be required to purchase, and the Transferor will be required to sell, the Transferor Interest and the Seller will assume all of the obligations of the Transferor, including the obligation to make advances as provided in the preceding paragraph.

Purchase of Additional Balances. Pursuant to the Sale and Servicing Agreement, Principal Collections may be applied by the Master Servicer to purchase Additional Balances for the Trust during a Due Period. If on any Payment Date, Principal Collections are insufficient to purchase all Additional Balances required to be purchased on such Payment Date, the Transferor will advance funds to the Trust to purchase the Additional Balances that were not funded by Principal Collections. The Transferor will be entitled to reimbursement for any such advanced funds from Principal Collections remaining on any Payment Date, but only from the amounts released from the Trust pursuant to Section 5.01(a)II.(iii5.01(a)II. (iii) of the Sale and Servicing Agreement. If the Transferor fails to advance to the Trust the amounts specified in the preceding paragraph, the Seller will be required to purchase, and the Transferor will be required to sell, the Transferor Interest and the Seller will assume all of the obligations of the Transferor, including the obligation to make advances as provided in the preceding paragraph.