Common use of Repurchase Sole Remedy for Breach Clause in Contracts

Repurchase Sole Remedy for Breach. The sole remedy (except as provided in Section 6.3) of the Issuer, the Indenture Trustee, the Owner Trustee and the Secured Parties with respect to a breach of the covenants made by the Servicer in Section 3.1(c) or (d) or the occurrence of a condition specified in Section 3.1(b) is to require the Servicer to purchase the Receivable as set forth in Section 3.2(a). None of the Owner Trustee, the Indenture Trustee, the Servicer, the Depositor or the Administrator will have any duty to conduct an investigation as to the occurrence of any condition requiring the purchase of any Receivable pursuant to Section 3.2(a).

Repurchase Sole Remedy for Breach. The sole remedy (except as provided in Section 6.3) of the Issuer, the Indenture Trustee, the Owner Trustee and the Secured Parties with respect to for a breach of the covenants made by the Servicer in Section 3.1(c) or (d) or the occurrence of a condition specified stated in Section 3.1(b) is to require the Servicer to purchase the Receivable as set forth in Section 3.2(a). None of the Owner Trustee, the Indenture Trustee, the Servicer, the Depositor or the Administrator will have any duty to conduct an investigation as to the occurrence of any condition requiring the purchase of any Receivable pursuant to under Section 3.2(a).