Common use of Reassignment of Receivables Clause in Contracts

Reassignment of Receivables. In the event (i) any representation or warranty contained in Section 2.04(a)(ii), (iii), (iv), (vii), (viii) or (ix) 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 such breach has a material adverse effect on the Certificateholders’ Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), unless cured within 60 days (or such longer period, not in excess of 150 days, as may be agreed to by the Trustee) after the earlier to occur of the discovery thereof by the Sellers or receipt by the Sellers of notice thereof given by the Trustee, or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii) with respect to any Receivables, then the Sellers shall accept reassignment of the Certificateholders’ Interest in all Receivables in the related Account (“Ineligible Receivables”) on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. In the event (i) any representation or warranty contained in Section 2.04(a)(ii), (iii), (iv), (viivi), (viiivii) or (ixviii) 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 such breach has a material adverse effect on the Certificateholders’ ' Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), ) unless cured within 60 days (or such longer period, not in excess of 150 120 days, as may be agreed to by the TrusteeTrustee and the Servicer) after the earlier to occur of the discovery thereof by the Sellers Seller or receipt by the Sellers Seller of written notice thereof given by the TrusteeTrustee or the Servicer, or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii2.09(d) (iii) with respect to any Receivables, then the Sellers Seller shall accept reassignment of the Certificateholders’ ' Interest in all Receivables in the related Account (“"Ineligible Receivables”") on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. In the event (i) any representation or warranty contained in Section subsection 2.04(a)(ii), (iii), (iv), (vi), (vii), (viii) or (ix) 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 such breach has a material adverse effect on any Receivable or the Certificateholders’ Interest Trust's interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), ) unless cured within 60 days (or such longer period, not in excess of 150 120 days, as may be agreed to by the TrusteeIndenture Trustee and the Servicer) after the earlier to occur of the discovery thereof by the Sellers Transferor which conveyed such Receivables to the Trust or receipt by the Sellers Transferor of written notice thereof given by the Owner Trustee, the Indenture Trustee or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii) with respect to any Receivablesthe Servicer, then the Sellers such Transferor shall accept reassignment of the Certificateholders’ Interest in all Receivables in the related Account (“Ineligible Receivables”"INELIGIBLE RECEIVABLES") on the terms and conditions set forth in paragraph (b) below.

Reassignment of Receivables. In the event (i) any representation or warranty contained in Section 2.04(a)(ii), (iii), (iv), (vii), (viii) or (ix) 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 such breach has a material adverse effect on the Certificateholders’ ' Interest in any Receivable (which determination shall be made without regard to whether funds are then available pursuant to any Series Enhancement), unless cured within 60 days (or such longer period, not in excess of 150 days, as may be agreed to by the Trustee) after the earlier to occur of the discovery thereof by the Sellers or receipt by the Sellers of notice thereof given by the Trustee, or (ii) it is so provided in Section 2.07(a) or 2.09(c)(iii) with respect to any Receivables, then the Sellers shall accept reassignment of the Certificateholders’ ' Interest in all Receivables in the related Account (“"Ineligible Receivables”") on the terms and conditions set forth in paragraph (b) below.