Common use of Repurchases for Administrative Convenience Clause in Contracts

Repurchases for Administrative Convenience. If on the last day of a Yield Period with respect to any Undivided Interest, the Aggregate Purchasers' Investments equal or are less than 10% of the greatest amount of Aggregate Purchasers' Investments at any time prior to such last day, Sellers shall be entitled to repurchase all of the Undivided Interests from Purchasers on the respective Settlement Date. Sellers' Representative shall give the Agent at least four Business Days' prior written notice of such repurchase and upon payment of the repurchase price therefor, as hereinafter provided, the Agent and the Purchasers shall be obligated to reconvey their entire interest in such Undivided Interest to the Seller or Sellers designated by Sellers' Representative pursuant to an assignment acceptable to the parties, but without representation or warranty except that the interest assigned is free of offset, liens and other encumbrances created by the assignor. Sellers, jointly and severally, shall pay such repurchase price in cash to the Agent in an amount equal to, for each Undivided Interest, the sum of (i) Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, (ii) the related Purchasers' Investments therefor in the Approved Currency of such Undivided Interest, (iii) the aggregate of other amounts then owed hereunder by Sellers to the Purchasers, and (iv) the accrued Servicer's Fee payable with respect to such Undivided Interest. Upon receipt of the aforesaid repurchase price with regard to each Undivided Interest, the Agent shall distribute it (i) to Purchasers (pro rata based on their respective Percentages) (a) in payment of the Earned Discount for such Undivided Interest, (b) in reduction of the related Purchasers' Investments and (c) in payment of any other amounts owed by Sellers hereunder to Purchasers, in each case until reduced to zero, and (ii) to Servicer in payment of the accrued Servicer's Fee payable with respect to such Undivided Interest, also until reduced to zero.

Repurchases for Administrative Convenience. If on the last day of a Yield Period with respect to any Undivided Interest, the Aggregate Purchasers' Investments equal or are less than 10% of the greatest amount of Aggregate Purchasers' Investments at any time prior to such last day, Sellers Seller shall be entitled to repurchase all (but not less than all) of the Undivided Interests from Purchasers the Agent, on behalf of the Purchasers, on the respective Settlement DateDates. Sellers' Representative Seller shall give the Agent at least four Business Days' prior written notice of such repurchase and upon payment of the repurchase price therefor, as hereinafter provided, the Agent and the Purchasers shall be obligated to reconvey their entire interest in such Undivided Interest to the Seller or Sellers designated by Sellers' Representative pursuant to an assignment acceptable to the parties, but without representation or warranty except that the interest assigned is free of offset, liens and other encumbrances created by the assignor. Sellers, jointly and severally, Seller shall pay such repurchase price in cash to the Agent in an amount equal to, for each Undivided Interest, the sum of (i) Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, (ii) the related Purchasers' Investments therefor in the Approved Currency of such Undivided Interest, (iii) the aggregate of other amounts then owed hereunder by Sellers Seller to the Purchasers, and (iv) the accrued Servicer's Fee payable with respect to such Undivided Interest. Upon receipt of the aforesaid repurchase price with regard to each Undivided Interest, the Agent shall distribute it (i) to Purchasers (pro rata based on their respective PercentagesPercentages in the case of clauses (a) and (b)) (a) in payment of the Earned Discount for such Undivided Interest, (b) in reduction of the related Purchasers' Investments and (c) in payment of any other amounts owed by Sellers Seller hereunder to Purchasers, in each case until reduced to zero, and (ii) to Servicer in payment of the accrued Servicer's Fee payable with respect to such Undivided Interest, also until reduced to zero.

Repurchases for Administrative Convenience. If on the last day of a Yield Period with respect to any Undivided InterestSettlement Date, the Aggregate Purchasers' Investments equal or are Net Investment is less than or equal to 10% of the greatest amount of maximum Aggregate Purchasers' Investments at Net Investment on any time date prior to such last daySettlement Date, Sellers the Seller shall be entitled to repurchase all (but not less than all) of the Undivided Interests from the Purchasers on the respective such Settlement Date. Sellers' Representative To effect such repurchase, the Seller shall give the Agent at least four three Business Days' , prior written notice of such repurchase thereof and upon on the Settlement Date shall tender payment of the repurchase price therefor, calculated as hereinafter provided, the Agent and the Purchasers shall be obligated to reconvey their entire interest in such Undivided Interest to the . The Seller or Sellers designated by Sellers' Representative pursuant to an assignment acceptable to the parties, but without representation or warranty except that the interest assigned is free of offset, liens and other encumbrances created by the assignor. Sellers, jointly and severally, shall pay such repurchase price in cash to the Agent (for the benefit of the Agent and the Purchasers) in an amount equal to, for each Undivided Interest, to the sum of (i) unpaid Earned Discount for such Undivided Interest in Yield on the Approved Currency Aggregate Net Investment accrued to and including the date of such Undivided Interestrepurchase, (ii) the related Purchasers' Investments therefor in the Approved Currency of such Undivided InterestAggregate Net Investment, (iii) the aggregate of other amounts then owed hereunder by Sellers to the Purchasersaccrued but unpaid Commitment Fees, and (iv) all other Obligations that are then due and payable, including, without limitation, any Obligations which may arise under Section 3.06 as a result of such repurchase and (v) the amount of the Servicing Fee accrued to and including the date of repurchase (which amount shall be paid to the Master Servicer's Fee payable with respect to such Undivided Interest). Upon receipt of such funds, the aforesaid repurchase price with regard Purchasers shall be obligated to each reconvey their Undivided InterestInterests and all Assigned Collateral to the Seller pursuant to an assignment in form reasonably acceptable to the Seller, the Agent shall distribute it (i) to Purchasers (pro rata based on their respective Percentages) (a) in payment of and the Earned Discount for such Undivided Interest, (b) in reduction of the related Purchasers' Investments and (c) in payment of any other amounts owed by Sellers hereunder to Purchasers, in but without representation or warranty except for a several representation and warranty from each case until reduced to zero, Purchaser that the Undivided Interests and (ii) to Servicer in payment all Assigned Collateral assigned are free of the accrued Servicer's Fee payable with respect to Liens created by or arising under such Undivided Interest, also until reduced to zeroPurchaser.

Repurchases for Administrative Convenience. If on the last day of a Yield Period with respect to any Undivided Interest, the Aggregate Purchasers' Investments Purchaser's Investment equal or are is less than 10% of the greatest amount of Aggregate Purchasers' Investments Purchaser's Investment at any time prior to such last day, Sellers Seller shall be entitled to repurchase all (but not less than all) of the Undivided Interests from Purchasers Purchaser, on the respective Settlement DateDates. Sellers' Representative Seller shall give the Agent at least four two Business Days' prior written notice of such repurchase and upon payment of the repurchase price therefor, as hereinafter provided, the Agent and the Purchasers Purchaser shall be obligated to reconvey their its entire interest in such Undivided Interest to the Seller or Sellers designated by Sellers' Representative pursuant to an assignment acceptable to the parties, but without representation or warranty except that the interest assigned is free of offset, liens and other encumbrances created by the assignor. Sellers, jointly and severally, Seller shall pay such repurchase price in cash to the Agent in an amount equal to, for each Undivided Interest, the sum of (i) Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, (ii) the related Purchasers' Investments therefor in the Approved Currency of such Undivided InterestPurchaser's Investment therefor, (iii) the aggregate of other amounts then owed hereunder by Sellers Seller to the PurchasersPurchaser, and (iv) the accrued Servicer's Fee payable with respect to such Undivided Interest. Upon receipt of the aforesaid repurchase price with regard to each Undivided Interest, the Agent shall distribute it (i) to Purchasers (pro rata based on their respective Percentages) Purchaser (a) in payment of the Earned Discount for such Undivided Interest, (b) in reduction of the related Purchasers' Investments Purchaser's Investment and (c) in payment of any other amounts owed by Sellers Seller hereunder to PurchasersPurchaser, in each case until reduced to zero, and (ii) to Servicer in payment of the accrued Servicer's Fee payable with respect to such Undivided Interest, also until reduced to zero.

Repurchases for Administrative Convenience. If on the last day of a Yield Period with respect to any Undivided Interest, Interest the Aggregate Purchasers' Investments Investment shall equal or are be less than 105% of the greatest amount of the Aggregate Purchasers' Investments Investment at any time prior to such last day, Sellers Seller shall be entitled to repurchase all all, but not less than all, of the Undivided Interests from Purchasers on the respective Settlement DatePurchasers. Sellers' Representative Seller shall give the Administrative Agent at least four three Business Days' prior written notice of such repurchase and upon payment of the repurchase price thereforfor all of the Undivided Interests, as hereinafter provided, the Agent and the Purchasers each Purchaser shall be obligated to reconvey their its entire interest in such the Undivided Interest Interests to the Seller or Sellers designated by Sellers' Representative pursuant to an assignment acceptable to the parties, but without representation or warranty except that the interest assigned is free of offset, liens and other encumbrances created by the assignor. Sellers, jointly and severally, Seller shall pay such repurchase price in cash to the Administrative Agent on each Settlement Date in an amount equal to, for each Undivided Interest, the sum of (i) accrued and unpaid Earned Discount for such Undivided Interest in the Approved Currency of such Undivided Interest, (ii) the aggregate related Purchasers' Investments therefor in the Approved Currency of such Undivided InterestInvestment therefor, and (iii) the aggregate of other amounts then owed hereunder by Sellers Seller to the Purchasers, and (iv) Seller shall pay to Servicer the accrued Servicer's Fee payable with respect to such Undivided Interest. Upon receipt of the aforesaid repurchase price with regard to each an Undivided Interest, the Administrative Agent shall distribute it (i) to Purchasers (pro rata based on their respective Percentages) (a) in payment of the Earned Discount for such Undivided Interest, (b) in reduction of the related Purchasers' Investments Investment and (c) in payment of any other amounts owed by Sellers Seller hereunder to Purchasers, including any amounts owing under Section 4.03, in each case until reduced to zero, and (ii) to Servicer in payment of the accrued Servicer's Fee payable with respect to such Undivided Interest, also until reduced to zero.