Common use of Repurchases of Contract Clause in Contracts

Repurchases of Contract. (a) The Seller hereby agrees, that if on any day: (i) it shall be determined that any representation or warranty of the Seller set forth in Section 4.01(l), (m), (n) or (o) or in Section 4.02(a) or (c) (disregarding for this purpose any qualification in any such provisions of “to the Seller’s knowledge” or words of like import) was not true and accurate as of the applicable Purchase Date; (ii) in the case of any representation or warranty of the Seller identified in clause (i) above that is made in reference to (or uses, directly or indirectly, any defined term that makes reference to) a Cutoff Date, the date of approval for financing of the related Obligor, the date the related Obligor applied for financing or any other date that is earlier than the Purchase Date related thereto, it shall be determined that had such representation or warranty instead been made in reference to (or had such defined term instead made reference to) such Purchase Date, such representation and warranty would not have been true and accurate as of such Purchase Date; or (iii) it shall be determined that any other representation or warranty of the Seller set forth in Article IV was not true and accurate as of any Purchase Date and the failure of such representation and warranty to be true and accurate as of such Purchase Date has impaired or diminished in any material respect (x) the right, title or interest of the Purchaser purportedly created hereunder in any Contract or Contract Asset or (y) the value or collectibility of any such Contract or Contract Asset, then the Seller shall repurchase each affected Contract (together with all related Contract Assets) conveyed on the applicable Purchase Date, at the Repurchase Price for such affected Contract, not later than the Settlement Date under the Loan Agreement immediately following the date that the Seller shall have first become or been made aware of the event or circumstance giving rise to such repurchase obligation. (b) With respect to any Contract Assets which have been repurchased by the Seller pursuant to clause (a) above, the Purchaser shall, on the Settlement Date on which such repurchase occurs and at the expense of the Seller (i) without recourse, retransfer to the Seller all of its right, title and interest in, to and under the affected Contract Assets and all proceeds of the foregoing, and (ii) execute any and all instruments, certificates and other documents reasonably necessary or advisable to effect such retransfer.

Repurchases of Contract. (a) The Each Seller hereby agrees, that if on any day: (i) it shall be determined that any representation or warranty of the such Seller set forth in Section 4.01(l), (m), (n) or (o) or in Section 4.02(a) or (c) (disregarding for this purpose any qualification in any such provisions of “to the such Seller’s knowledge” or words of like import) was not true and accurate as of the applicable Purchase Date; (ii) in the case of any representation or warranty of the such Seller identified in clause (i) above that is made in reference to (or uses, directly or indirectly, any defined term that makes reference to) a Cutoff Date, the date of approval for financing of the related Obligor, the date the related Obligor applied for financing or any other date that is earlier than the Purchase Date related thereto, it shall be determined that had such representation or warranty instead been made in reference to (or had such defined term instead made reference to) such Purchase Date, such representation and warranty would not have been true and accurate as of such Purchase Date; or (iii) it shall be determined that any other representation or warranty of the such Seller set forth in Article IV was not true and accurate as of any Purchase Date and the failure of such representation and warranty to be true and accurate as of such Purchase Date has impaired or diminished in any material respect (x) the right, title or interest of the Purchaser purportedly created hereunder in any Conveyed Contract or Conveyed Contract Asset Asset, or (y) the value or collectibility of any such Conveyed Contract or Conveyed Contract Asset, then the such Seller shall repurchase each affected Contract (together with all related Conveyed Contract Assets) conveyed on the applicable Purchase Date, at the Repurchase Price for such affected Contract, not later than the Settlement Date under the Loan Agreement immediately following the date that the such Seller shall have first become or been made aware of the event or circumstance giving rise to such repurchase obligation. (b) With respect to any Conveyed Contract Assets which have been repurchased by the a Seller pursuant to clause (a) above, the Purchaser shall, on the Settlement Date on which such repurchase occurs and at the expense of the related Seller (i) without recourse, retransfer to the related Seller all of its right, title and interest in, to and under the affected Conveyed Contract Assets and all proceeds of the foregoing, and (ii) execute any and all instruments, certificates and other documents reasonably necessary or advisable to effect such retransfer.

Repurchases of Contract. (a) The Each Seller hereby agrees, that if on any day: (i) it shall be determined that any representation or warranty of the such Seller set forth in Section 4.01(l), (m), (n) or (o) or in Section 4.02(a) or (c) (disregarding for this purpose any qualification in any such provisions of “to the such Seller’s knowledge” or words of like import) was not true and accurate as of the applicable Purchase Date; (ii) in the case of any representation or warranty of the such Seller identified in clause (i) above that is made in reference to (or uses, directly or indirectly, any defined term that makes reference to) a Cutoff Date, the date of approval for financing of the related Obligor, the date the related Obligor applied for financing or any other date that is earlier than the Purchase Date related thereto, it shall be determined that had such representation or warranty instead been made in reference to (or had such defined term instead made reference to) such Purchase Date, such representation and warranty would not have been true and accurate as of such Purchase Date; or (iii) it shall be determined that any other representation or warranty of the such Seller set forth in Article IV was not true and accurate as of any Purchase Date and the failure of such representation and warranty to be true and accurate as of such Purchase Date has impaired or diminished in any material respect (x) the right, title or interest of the Purchaser purportedly created hereunder in any Conveyed Contract or Conveyed Contract Asset or (y) the value or collectibility of any such Conveyed Contract or Conveyed Contract Asset, then the such Seller shall repurchase each affected Contract (together with all related Conveyed Contract Assets) conveyed on the applicable Purchase Date, at the Repurchase Price for such affected Contract, not later than the Settlement Date under the Loan Agreement immediately following the date that the such Seller shall have first become or been made aware of the event or circumstance giving rise to such repurchase obligation. (b) With respect to any Conveyed Contract Assets which have been repurchased by the a Seller pursuant to clause (a) above, the Purchaser shall, on the Settlement Date on which such repurchase occurs and at the expense of the related Seller (i) without recourse, retransfer to the related Seller all of its right, title and interest in, to and under the affected Conveyed Contract Assets and all proceeds of the foregoing, and (ii) execute any and all instruments, certificates and other documents reasonably necessary or advisable to effect such retransfer.