Common use of Reassignment upon Breach Clause in Contracts

Reassignment upon Breach. By the delivery of an Assignment for the designation of Additional Accounts pursuant to this Section 2.6, the Depositor will be deemed to make the representations and warranties in Section 2.6(c)(iv). These representations and warranties survive the sale and assignment of the Sold Receivables and Related Security to the Issuer. Upon discovery by the Depositor, the Owner Trustee, the Indenture Trustee or the Servicer of a material breach of any representation or warranty in Section 2.6(c)(iv), the party discovering such breach will give prompt notice to the other parties. If any breach by the Depositor of a representation or warranty in Section 2.6(c)(iv) has a material adverse effect on the Sold Receivables, then the Issuer or the Indenture Trustee, by notice to the Depositor, may require the Depositor to accept reassignment of all or such portion of the Sold Receivables originated in the Additional Accounts designated by the Depositor to the Issuer pursuant to this Section 2.6 sufficient to cure such breach on or before the first day of the first Collection Period that begins more than 60 days after the earlier to occur of the discovery of any such breach by the Depositor, or receipt by the Depositor of notice of any such breach given by the Owner Trustee, the Indenture Trustee or the Servicer unless, by the first day of such Collection Period, the representations and warranties of the Depositor in Section 2.6(c)(iv) are then true and correct in all material respects and any material adverse effect on the Sold Receivables caused by such breach has been cured. Notice of the reassignment of a Sold Receivable pursuant to this Section 2.6(d) will be contained in the Monthly Investor Report for the Collection Period in which such reassignment occurs.

Reassignment upon Breach. By the delivery of an Assignment for the designation of Additional Accounts pursuant to this Section 2.6, the Depositor will be deemed to make the The representations and warranties in Section 2.6(c)(iv). These representations 2.4(a) and warranties (b) survive the sale and assignment of the Sold Receivables and the Related Security to the Issuer. Upon discovery by the Depositor, the Owner Trustee, the Indenture Trustee or the Servicer of a material breach of any representation or warranty in Section 2.6(c)(iv)of these representations and warranties, the party discovering such breach will give prompt notice to the other parties. If any breach by the Depositor of a representation or warranty in Section 2.6(c)(iv2.4(a) or (b) has a material adverse effect on the a Sold ReceivablesReceivable, then the Issuer or the Indenture Trustee, by notice to the Depositor, may require the Depositor to will accept reassignment of all or such portion of the Sold Receivables originated in the Additional Accounts designated by the Depositor to the Issuer pursuant to this Section 2.6 sufficient to cure such breach Receivable on or before the first day of the first Collection Period that begins more than 60 days after the earlier to occur of the discovery of any such breach by the Depositor, or receipt by the Depositor of notice of any such breach given by from the Owner Trustee, the Indenture Trustee or the Servicer unless, by the first day of such Collection Period, the representations and warranties of the Depositor in Section 2.6(c)(iv2.4(a) and (b) are then true and correct in all material respects and any material adverse effect on the such Sold Receivables Receivable caused by such the breach has been cured. Notice of the reassignment of a Sold Receivable pursuant to this Section 2.6(d2.4(c) will be contained in the Monthly Investor Report for the Collection Period in which such reassignment occurs.

Reassignment upon Breach. By the delivery of an Assignment for the designation of Additional Accounts pursuant to this Section 2.6, the Depositor will be deemed to make the The representations and warranties in Section 2.6(c)(iv). These representations and warranties 2.3(a) survive the sale and assignment of the Sold Receivables and Related Security to the Issuer. Upon discovery by the Depositor, the Owner Trustee, the Indenture Trustee or the Servicer of a material breach of any representation or warranty in Section 2.6(c)(iv)of these representations and warranties, the party discovering such breach will give prompt notice to the other parties. If any breach by the Depositor of a representation or warranty in Section 2.6(c)(iv2.3(a) has a material adverse effect on the Sold Receivables, then the Issuer or the Indenture Trustee, by notice to the Depositor, may require the Depositor to accept reassignment of all or such portion of the Sold Receivables originated in the Additional Accounts designated by the Depositor to the Issuer pursuant to this Section 2.6 sufficient to cure such breach on or before the first day of the first Collection Period that begins more than 60 days after the earlier to occur of the discovery of any such breach by the Depositor, or receipt by the Depositor of notice of any such breach given by from the Owner Trustee, the Indenture Trustee or the Servicer unless, by the first day of such Collection Period, Period the representations and warranties of the Depositor in Section 2.6(c)(iv2.3(a) are then true and correct in all material respects and any material adverse effect on the Sold Receivables caused by such breach has been cured. Notice of the reassignment of a the Sold Receivable Assets pursuant to this Section 2.6(d2.3(b) will be contained in the Monthly Investor Report for the Collection Period in which such reassignment occurs.