Common use of Reacquisition or Acquisition Clause in Contracts

Reacquisition or Acquisition. Under Section 2.1(a), the Depositor has transferred and absolutely assigned to the Trust the Depositor’s rights under the Originator Receivables Transfer Agreement and each Additional Transferor Receivables Transfer Agreement, including the right to require (i) an Originator to reacquire any Receivables transferred and absolutely assigned by it under the Originator Receivables Transfer Agreement or (ii) the Servicer to acquire any Receivable transferred and absolutely assigned by an Additional Transferor under the related Additional Transferor Receivables Transfer Agreement, in each case, when such Receivable becomes a Bankruptcy Surrendered Receivable. If any Receivable becomes a Bankruptcy Surrendered Receivable, the Depositor will enforce such Originator’s or the Servicer’s obligation, as applicable, to reacquire or acquire, respectively, any such Receivable transferred and absolutely assigned by such Originator or the related Additional Transferor, if any, as applicable, to the Depositor pursuant to Section 4.6 of the Originator Receivables Transfer Agreement or Section 3.5 of the related Additional Transferor Receivables Transfer Agreement.

Reacquisition or Acquisition. Under Section 2.1(a), the Depositor has transferred and absolutely assigned to the Trust Issuer the Depositor’s rights under the Originator Receivables Transfer Agreement and each Additional Transferor Receivables Transfer AgreementAgreements, including the right to require (i) an Originator to reacquire any Receivables transferred and absolutely assigned by it under the Originator Receivables Transfer Agreement or Agreement, (ii) the Servicer to acquire any Receivable transferred and absolutely assigned by an Additional Transferor the Master Trust under the related Additional Transferor Master Trust Receivables Transfer Agreement or (iii) the Servicer to acquire any Receivable transferred and absolutely assigned by VZMT under the VZMT Receivables Transfer Agreement, in each case, when such Receivable becomes a Bankruptcy Surrendered Receivable. If any Receivable becomes a Bankruptcy Surrendered Receivable, the Depositor will enforce such Originator’s or the Servicer’s obligation, as applicable, to reacquire or acquire, respectively, any such Receivable transferred and absolutely assigned by such Originator or the related Additional Transferor, if any, as applicable, it to the Depositor pursuant to Section 4.6 or 4.7, respectively, of the Originator Receivables Transfer Agreement or Section 3.5 of the related Additional Transferor applicable Receivables Transfer Agreement.

Reacquisition or Acquisition. Under Section 2.1(a), the Depositor has transferred and absolutely assigned to the Trust Issuer the Depositor’s rights under the Originator Receivables Transfer Agreement and each Additional Transferor Receivables Transfer AgreementAgreements, including the right to require (i) an Originator to reacquire any Receivables transferred and absolutely assigned by it under the Originator Receivables Transfer Agreement or or, (ii) the Servicer to acquire any Receivable transferred and absolutely assigned by an Additional Transferor the Master Trust under the related Additional Transferor Master Trust Receivables Transfer Agreement or (iii) the Servicer to acquire any Receivables transferred and absolutely assigned by VZMT under the VZMT Receivables Transfer Agreement, in each case, when such Receivable becomes a Bankruptcy Surrendered Receivable. If any Receivable becomes a Bankruptcy Surrendered Receivable, the Depositor will enforce such Originator’s or the Servicer’s obligation, as applicable, to reacquire or acquire, respectively, any such Receivable transferred and absolutely assigned by such Originator or the related Additional Transferor, if any, as applicable, it to the Depositor pursuant to Section 4.6 or 4.7, respectively, of the Originator Receivables Transfer Agreement or Section 3.5 of the related Additional Transferor applicable Receivables Transfer Agreement.