Common use of Reassignment of Ineligible Receivables Clause in Contracts

Reassignment of Ineligible Receivables. (a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi) or (vii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach Funding is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to accept reassignment of such Receivables previously sold by Capital One to Funding pursuant to this Agreement, Capital One shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b).

Reassignment of Ineligible Receivables. (a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi), (vii) or (viiviii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach Funding is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to accept reassignment of such Receivables previously sold by Capital One to Funding pursuant to this Agreement, Capital One shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b).