Repurchase of Receivables; Payment of Purchase Amount. For a breach described in Section 2.5(a), the Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Depositor has knowledge or receives notice of and confirms the breach or, at the Depositor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
Repurchase of Receivables; Payment of Purchase Amount. The Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Depositor has knowledge or was notified of and confirmed the breach or, at the Depositor’s option, on the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
Repurchase of Receivables; Payment of Purchase Amount. The Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable as of the last day of the Collection Period in which the Depositor has knowledge or was notified of and confirmed the breach or, at the Depositor’s option, as of the last day of the next Collection Period, unless the breach is cured in all material respects before that date. The Depositor will pay (or cause to be paid) the Purchase Amount on the Business Day before the related Payment Date (or, with satisfaction of the Rating Agency Condition, on the related Payment Date). If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
