Common use of Purchase of Ineligible Receivables Clause in Contracts

Purchase of Ineligible Receivables. (a) If the representation and warranty of the initial Servicer contained in Section 2.10(d) was not true and correct with respect to any Contract and related Receivable as of the Cut-Off Date in any material respect that materially and adversely impacts such Contract and the related Receivable (any such Receivable, an “Ineligible Receivable”), the initial Servicer shall, at the request of the Trustee, purchase such Ineligible Receivable within ten (10) Business Days after demand thereof (a “Purchase Event”) from the Receivables Trust for an amount (the “Purchase Amount”) equal to the then Outstanding Receivables Balance of such Ineligible Receivable at the time of such purchase (any such payment, a “Purchase Payment”).

Purchase of Ineligible Receivables. (a) If the representation and warranty of the initial Servicer contained in Section 2.10(d) was not true and correct with respect to any Contract and related Receivable as of the Cut-Off Date in any material respect that materially and adversely impacts such Contract and the related Receivable (a “Purchase Event” and any such Receivable, an “Ineligible Receivable”), the initial Servicer shall, at the request of the Trustee, purchase such Ineligible Receivable within ten (10) Business Days after demand thereof (a “Purchase Event”) from the Receivables Trust for an amount (the “Purchase Amount”) equal to the then Outstanding Receivables Balance of such Ineligible Receivable at the time of such purchase (any such payment, payment a “Purchase Payment”).

Purchase of Ineligible Receivables. (a) If the representation and warranty of the initial Servicer contained in Section 2.10(d) was not true and correct with respect to any Contract and related Receivable as of the Cut-Off Date in any material respect that materially and adversely impacts such Contract and the related Receivable (a “Purchase Event” and any such Receivable, an “Ineligible Receivable”), the initial Servicer shall, at the request of the Trustee, purchase such Ineligible Receivable within with ten (10) Business Days after demand thereof (a “Purchase Event”) from the Receivables Trust for an amount (the “Purchase Amount”) equal to the then Outstanding Receivables Balance of such Ineligible Receivable at the time of such purchase (any such payment, payment a “Purchase Payment”).