Removal After Cure Period. In the event of a breach of any of the representations and warranties set forth in subsection 2.04(b) other than a breach or event as set forth in clause (d)(i) above, and as a result of such breach the related Account becomes a Defaulted Account or the Trustee’s rights in, to or under the Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to the Trustee free and clear of any Lien, then, upon the expiration of 60 days (or such longer period as may be agreed to by the Trustee in its sole discretion, but in no event later than 120 days) from the earlier to occur of the discovery of any such event by the Transferor, or receipt by the Transferor of written notice of any such event given by the Trustee or the Servicer, each such Receivable shall be removed from the Trust on the terms and conditions set forth in subsection 2.04(d)(iii); provided, however, that no such removal shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such Receivable shall then be true and correct in all material respects as if such Receivable had been created on such day.
Removal After Cure Period. In the event of a breach of any of the ------------------------- representations and warranties set forth in subsection 2.4(b) other than a ----------------- breach or event as set forth in clause (d)(i) above, and as a result of ------------- such breach the related Account becomes a Defaulted Account or the Trust's rights in, to or under the Receivable or its proceeds are impaired or the ability of the Servicer to collect such Ineligible Receivable is impaired or the proceeds of such Receivable are not available for any reason to the Trust free and clear of any Lien, then, upon the expiration of 60 days (or such longer period as may be agreed to by the Trustee but in no event longer than 120 days), from the earlier to occur of the discovery of any such event by either of the Seller or the Servicer, or receipt by the Seller of written notice of any such event given by the Trustee or the related Enhancement Provider, or, with respect to breaches relating to prior Liens, immediately upon the earlier to occur of such discovery or notice, each such Receivable shall be removed from the Trust on the terms and conditions set forth in subsection 2.4(d)(iii); provided, however, that ---------------------- -------- ------- no such removal shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such Receivable shall then be true and correct in all material respects as if such Receivable had been created on such day and provided, further, that if -------- ------- a defect in any list of Accounts referred to subsection 2.4(b)(v) results -------------------- in the balance of Receivables in the Accounts being less than the amount specified in such subsection, the deficiency shall be deemed to be an Ineligible Receivable for purposes of this subsection 2.4(d). -----------------
Removal After Cure Period. In the event of a breach of any of the representations and warranties set forth in subsection 2.04(b) other than a breach or event as set forth in clause (d)(i) above, and as a result of such breach the related Account becomes a Defaulted Account or the Trust’s rights in, to or under the Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to the Trust free and clear of any Lien, then, upon the expiration of 30 days from the earlier to occur of the discovery of any such event by either the Transferor or the Servicer, or receipt by the Transferor of written notice of any such event given by the Trustee or any Investor Certificateholder, each such Receivable shall be removed from the Trust on the terms and conditions set forth in subsection 2.04(d)(iii); provided, however, that no such removal shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such Receivable shall then be true and correct in all material respects as if such Receivable had been created on such day.
Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iv), (vi), (vii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) or (xvi) is not accurate in any material respect as of the date specified therein with respect to (x) any Collateral Certificate and such breach has a material adverse effect on the Collateral Certificate such that the Trust’s rights in, to or under such Collateral Certificate or its proceeds are impaired or the proceeds of such Collateral Certificate are not available for any reason to the Trust free and clear of any Lien or (y) any Receivable or the related Account and such breach has a material adverse effect on the Receivable such that as a result of the breach the Receivable is charged off as uncollectible, the Trust’s rights in, to or under such Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to the Trust, then, unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee, the Collateral Agent and the Servicer) after the earlier to occur of the discovery thereof by the Transferor or receipt by the Transferor of written notice thereof (a “Repurchase Notice”) given by the Owner Trustee, the Indenture Trustee, the Collateral Agent or the Servicer, the Transferor shall accept reassignment of the Ineligible Collateral Certificate or of the Ineligible Receivable, as the case may be, on the terms and conditions set forth in paragraph (c) below.
Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iv), (vi), (vii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) or (xvi) is not true and correct in any material respect as of the date specified therein with respect to (x) any Collateral Certificate and such breach has a material adverse effect on such Collateral Certificate or (y) any Receivable or the related Account and such breach has a material and adverse effect on such Receivable, then, unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee, the applicable Collateral Agent and the Servicer) after the earlier to occur of the discovery thereof by the Transferor who conveyed such Collateral Certificate or Receivable to the Trust or receipt by such Transferor of written notice thereof given by the Owner Trustee, the Indenture Trustee, the applicable Collateral Agent or the Servicer, then such Transferor shall accept reassignment of the Ineligible Collateral Certificate or of the Ineligible Receivable, as the case may be, on the terms and conditions set forth in paragraph (c) below.
Removal After Cure Period. In the event of a breach of any of the representations and warranties set forth in subsection 2.2(a)(ii)-(v), other than a breach or event as set forth in clause (d)(i) above, and as a result of such breach the Receivable becomes charged off or the rights of the Purchaser (or its assignee) in, to or under the Receivable or its proceeds are impaired or the proceeds of such Receivable are not available for any reason to the Purchaser (or its assignee) free and clear of any Lien, then, upon the expiration of 60 days from the earlier to occur of the discovery of any such event by either the Seller or the Purchaser, or receipt by the Seller of written notice of any such event given by the Servicer, the Trustee or any Purchaser Representative, the Purchaser may direct a Person designated by the Seller to accept an assignment of such Receivable and such Person shall be obligated to accept such assignment on the terms and conditions set forth in subsection 2.2(d)(iii) and such Receivable shall no longer be treated as a Receivable; provided, however, that no such reassignment shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such Receivable shall then be true and correct in all material respects as if such Receivable had been created on such day.
Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iv), (vi), (vii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) or
Removal After Cure Period. In the event of a breach with respect to a Originator Receivable of any of the Specified Representations and such breach results in a Requisite Effect with respect to such Originator Receivable or the related Premium Finance Obligation, then, no later than the Required Time, such affected Originator Receivable shall be removed from the Trust on the terms and conditions set forth in subsection 2.04(e)(ii); provided, however, that no such removal shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such affected Originator Receivable shall then be true and correct in all material respects as if such affected Originator Receivable had been created on such day. Notwithstanding the above, in the event of any breach of subsection 2.04(b)(iii) or 2.04(b)(ix) with respect to an Originator Receivable , upon expiration of 30 days from the breach, the unfunded portion of such affected Originator Receivable shall be removed from the Trust pursuant to Section 2.04 (e) (ii) provided, however, that no such removal shall be required to be made if, on any day within such applicable period, such representations and warranties with respect to such Originator Receivable shall then be true and correct.
Removal After Cure Period. In the event any representation or warranty contained in subsection 2.04(a)(iii), (iv), (v), (viii), (ix), (x), (xi) or (xii) 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 and adverse effect on such Receivable, then, unless cured within 60 days (or such longer period, not in excess of 120 days, as may be agreed to by the Indenture Trustee and the Servicer) after the earlier to occur of the discovery thereof by the Transferor or receipt by the Transferor of written notice thereof given by the Owner Trustee, the Indenture Trustee or the Servicer, then the Transferor shall accept reassignment of the Ineligible Receivable, as the case may be, on the terms and conditions set forth in subsection (c) below.
Removal After Cure Period. In the event of a breach of any of the repre- sentations and warranties set forth in subsec- tion 2.4(b)(i), (ii), (iv), (v) or (vi) with respect to a Receivable (other than in the event that a Receivable is not an Eligible Receivable as a result of the failure to satis- fy the conditions set forth in clause (iv) of the definition of Eligible Receivable), and as a result of such breach or event such Receiv- able becomes a Receivable which is not an Xxx- gible Receivable, the Account related to such Receivable becomes a Defaulted Account or the Trust's rights in, to or under such Receivable or its proceeds are materially impaired or the proceeds of such Receivable are not available
