Common use of Repurchase Events Clause in Contracts

Repurchase Events. World Omni agrees to repurchase Receivables materially and adversely affected by a breach of the representations and warranties set forth in Section 3.01 of the Sale and Servicing Agreement, all in the manner set forth in Section 3.02 of such agreement (each, a “Repurchase Event”), and in that connection agrees to execute the Sale and Servicing Agreement. This repurchase obligation of World Omni shall constitute the sole remedy of WOAR, the Trust, the Indenture Trustee, the Noteholders, the Owner Trustee or the Certificateholders against World Omni with respect to any Repurchase Event.

Repurchase Events. World Omni agrees to repurchase Receivables materially and adversely affected by a breach of the representations and warranties set forth in Section 3.01 of the Sale and Servicing Agreement, all in the manner set forth in Section 3.02 of such agreement (each, a “"Repurchase Event”"), and in that connection agrees to execute the Sale and Servicing Agreement. This repurchase obligation of World Omni shall constitute the sole remedy of WOAR, the Trust, the Indenture Trustee, the Noteholders, the Owner Trustee or the Certificateholders against World Omni with respect to any Repurchase Event.