Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the Sponsor 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 Sponsor has knowledge or receives notice of and confirms the breach or, at the Sponsor’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 Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.
Repurchase of Receivables; Payment of Purchase Price. If a breach of a representation or warranty made in Exhibit A of this Agreement has a material adverse effect on the interests of the Issuer or Noteholders in a Receivable, and if such breach shall not have been cured by the close of business on the last day of the Collection Period which includes the 30th day after the date on which the Seller becomes aware of, or receives written notice from the Depositor, the Servicer, either Trustee, a Note Owner or a Noteholder of, such breach, the Seller shall repurchase such Receivable from the Issuer as of the close of business on the last day of such Collection Period by paying the Purchase Amount to the Issuer on the Deposit Date related to such Collection Period.
Repurchase of Receivables; Payment of Purchase Price. Either of the Seller or the Depositor may, and if the breach has a material adverse effect on the Receivable will, repurchase the Receivable described in Section 3.03(a) by paying the Purchase Price to the Issuer 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 Seller or the Depositor, as applicable, has knowledge or was notified of and confirmed the breach or, at the Seller’s or Depositor’s option, as applicable, on the following Payment Date, unless the breach is cured in all material respects before that Payment Date.
Repurchase of Receivables; Payment of Purchase Price. The Seller may, and if the breach has a material adverse effect on the Receivable will, repurchase the Receivable described in Section 3.04(a) by paying the Purchase Price 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 Seller has knowledge or was notified of and confirmed the breach or, at the Seller’s option, on the following Payment Date, unless the breach is cured in all material respects before that Payment Date.
Repurchase of Receivables; Payment of Purchase Price. The Sponsor 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 Sponsor has knowledge or was notified of and confirmed the breach or, at the Sponsor’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 Sponsor will pay 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 Sponsor may pay the Purchase Amount according to Section 4.3(c) of the Sale and Servicing Agreement.
Repurchase of Receivables; Payment of Purchase Price. The Sponsor 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 Sponsor has knowledge or was notified of and confirmed the breach or, at the Sponsor’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 Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.
