Common use of Receivable Repurchase Events Clause in Contracts

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the Revolving Commitment Termination Date, with respect to any Receivable the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Account upon repurchase thereof. All amounts deposited into the Disbursement Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the Revolving Commitment Termination Date, with respect to any Receivable the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Collection Account upon repurchase thereof. All amounts deposited into the Disbursement Collection Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Collection Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the a Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the Revolving Commitment Termination Date, with respect to any Receivable the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account upon repurchase thereof. All amounts deposited into the thea Disbursement Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the Revolving Commitment Termination Date, with respect to any Receivable Receivable, the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the applicable Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement applicable Collection Account upon repurchase thereof. All amounts deposited into the Disbursement thea Collection Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the applicable Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the applicable Purchase Agreement or the relevant Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement applicable Collection Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the applicable Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the a Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the thea Revolving Commitment Termination Date, with respect to any Receivable included in the applicable Borrowing Base, the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account upon repurchase thereof. All amounts deposited into the a Disbursement Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the thea Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (ai) Upon the occurrence of a Receivable Repurchase Event following the Revolving Scheduled Commitment Termination Date, with respect to any Receivable the applicable Seller shall shall, within two (2) Business Days of such occurrence, (x) repurchase each affected Receivable pursuant to the terms of the Receivables Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Collection Account upon repurchase thereof. All amounts deposited into the Disbursement Collection Account pursuant to this Section 2.8(a2.8(a)(i) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (bii) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall shall, within two (2) Business Days of such occurrence, substitute each affected Receivable with a Substitute substitute Eligible Receivable pursuant to the terms of the Receivables Purchase Agreement or the Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such the Seller mayshall, with the prior written consent of the Administrative Agent Agent, which consent shall not be unreasonably withheld, conditioned or delayed, (x) repurchase each affected Receivable pursuant to the terms of the Receivables Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Receivables Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.and

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the Revolving Commitment Termination Date, with respect to any Receivable the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the applicable Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Account upon repurchase thereof. All amounts deposited into the Disbursement Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the applicable Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the applicable Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the applicable Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.

Receivable Repurchase Events. (a) Upon the occurrence of a Receivable Repurchase Event following the a Revolving Commitment Termination Date, with respect to any Receivable included in the applicable Borrowing Base, the applicable Seller shall (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account upon repurchase thereof. All amounts deposited into the a Disbursement Account pursuant to this Section 2.8(a) shall be applied as Collections on the related Settlement Date pursuant to Section 2.10. (b) Upon the occurrence of a Receivable Repurchase Event during the a Revolving Commitment Period, the applicable Seller shall substitute each affected Receivable with a Substitute Eligible Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable. In the event the applicable Seller is unable to originate (or, in the case of a Bank Partner Subsidiary, acquire pursuant to the applicable Bank Partner Program Agreements) sufficient Receivables to effect such substitution of affected Receivables, such Seller may, with the prior written consent of the Administrative Agent (x) repurchase each affected Receivable pursuant to the terms of the Purchase Agreement or the Bank Partner Sale Agreement, as applicable, at a price equal to the Receivable Repurchase Price and (y) deposit the Receivable Repurchase Price for each affected Receivable directly into the applicable Disbursement Account to be applied as Collections on the related Settlement Date pursuant to Section 2.10 or released to the Borrower pursuant to Section 5.13 in order to purchase Eligible Receivables at a later date. (c) In connection with a Receivables Repurchase Event arising under or in connection with the Bank Partner Sale Agreement, in the event that the applicable Bank Partner Subsidiary is unable, or otherwise fails, to repurchase or substitute a Substitute Eligible Receivable for an affected Receivable as required pursuant to clauses (a) or (b) above, the Company shall repurchase, or substitute a Substitute Eligible Receivable for, such affected Receivable in accordance with the terms of the Performance Guaranty.