Common use of Reacquisition of Bankruptcy Surrendered Receivables; Payment of Reconveyance Amount Clause in Contracts

Reacquisition of Bankruptcy Surrendered Receivables; Payment of Reconveyance Amount. If a Receivable becomes a Bankruptcy Surrendered Receivable, the related Originator shall reacquire such Receivable from the Trust, subject to the last sentence of this Section 4.6 (a). Each Originator will reacquire any Bankruptcy Surrendered Receivables by remitting the Reconveyance Amount for the related Bankruptcy Surrendered Receivables on or prior to the second Business Day before the Payment Date related to the Collection Period during which the Receivable became a Bankruptcy Surrendered Receivable. The aggregate Principal Balance of all Bankruptcy Surrendered Receivables reacquired by any Originator, in the aggregate, shall not exceed five percent (5%) of the highest aggregate Principal Balance of all Receivables (calculated as of the relevant Cutoff Date for such Receivable) transferred by that Originator to the Depositor and by the Depositor to the Trust and held by the Trust as of the applicable date of determination, and no Originator shall be required to reacquire Bankruptcy Surrendered Receivables in excess of such limit.