Common use of Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties Clause in Contracts

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “Ineligible Contract”), the Servicer shall promptly notify CFUSA thereof. As provided in the Series 2006-VT1 VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.03, CFUSA may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s 's or any Noteholder’s 's or the Equity Certificateholder’s 's interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “"Ineligible Contract”"), the Servicer shall promptly notify CFUSA thereof. As provided in the Series 2006-VT1 Substitute VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.032.04, CFUSA may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “Ineligible Contract”), the Servicer shall promptly notify CFUSA [_________] thereof. As provided in the Series 200620[ ]-VT1 VFC [__] Purchase Agreement and the Non-VFC ACE Purchase Agreement and in accordance with this Section 7.06, CFUSA [_________] is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA [_________] is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.03, CFUSA [_________] may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA [_________] (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA [_________] under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “Ineligible Contract”), the Servicer shall promptly notify CFUSA thereof. As provided in the Series 2006-VT1 VT2 VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.03, CFUSA may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer Servicer, the Trust Depositor or the Trustees of an inaccuracy or a breach of a representation or warranty of the Originators as set forth in the Schedule of Representations which has been Section 3.02, Section 3.03, Section 3.04, and Section 3.05 or as made or deemed made with respect in any Addition Notice or any Subsequent Purchase Agreement relating to a Contract in the Contract Pool, which inaccuracy or breach Substitute Contracts that materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s 's interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancementFund) or the collectibility thereof (an “"Ineligible Contract”"), or of an inaccuracy with respect to the representations as to concentrations of the Initial Contracts made under Section 3.05, the party discovering the breach shall give prompt written notice to the other parties (and the Servicer shall, with respect to an inaccuracy concerning concentrations, select one or more Contracts, without employing adverse selection, as the related Excess Contract for purposes of this Section), provided, that the Trustees shall promptly notify CFUSA thereofhave no duty or obligation to inquire or to investigate the breach by the Originators of any of such representations or warranties. As provided in the Series 2006-VT1 VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to The Originators shall repurchase each such Ineligible Contract or Excess Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded)Transfer Deposit Amount, not later than the second Deposit Date ninety (90) days following the date the Servicer Originator becomes aware of of, or receives written notice from any Trustee, the Servicer or the Trust Depositor of, any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA the Originator is able to effect a substitution for any such Ineligible Contract or Excess Contract in compliance with Section 2.032.04, CFUSA the Originator may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible affected Contract with a Substitute Contract not later than the date a repurchase of such Ineligible affected Contract would be required hereunder; , and provided further, further that with respect to a breach of representation or inaccuracy of any such representations or warranties warranty relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or Contract the Servicer acting on its behalf) Originator may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Trust Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Trust Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and Originators described in this Section 7.06 11.01 shall not terminate or be deemed released by any party hereto upon a Servicing Servicer Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute 11.01 is in no way to be satisfied with monies in the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation CriteriaReserve Fund.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “”Ineligible Contract”), the Servicer shall promptly notify CFUSA thereof. As provided in the Series 20062005-VT1 EF1 VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.03, CFUSA may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s 's or any Noteholder’s 's or the Equity Certificateholder’s 's interest in such Contract (without regard to the benefits of the Reserve Cash Collateral Account, any reserve fund, over collateralization or other similar enhancement) or the collectibility thereof (an “"Ineligible Contract”"), the Servicer shall promptly notify CFUSA Financial thereof. As provided in the Series 2006-VT1 Substitute VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA Financial is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA Financial is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.032.04, CFUSA Financial may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA Financial (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA Financial under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer of an inaccuracy or breach of a representation or warranty set forth in the Schedule of Representations which has been made or deemed made with respect to a Contract in the Contract Pool, which inaccuracy or breach materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over over-collateralization or other similar enhancement) or the collectibility thereof (an “Ineligible Contract”), the Servicer shall promptly notify CFUSA thereof. As provided in the Series 20062008-VT1 VFC Purchase Agreement and the Non-VFC Purchase Agreement and in accordance with this Section 7.06, CFUSA is obligated to repurchase each such Ineligible Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded), not later than the second Deposit Date following the date the Servicer becomes aware of any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA is able to effect a substitution for any such Ineligible Contract in compliance with Section 2.03, CFUSA may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible Contract with a Substitute Contract not later than the date a repurchase of such Ineligible Contract would be required hereunder; and provided further, that with respect to a breach or inaccuracy of any such representations or warranties relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or the Servicer acting on its behalf) may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA under the Purchase and Sale Agreements and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation Criteria.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer Servicer, the Trust Depositor or the Trustees of an inaccuracy or a breach of a representation or warranty of the Seller as set forth in the Schedule of Seller Representations which has been and Warranties or as made or deemed made with respect in any Addition Notice or any Subsequent Purchase Agreement relating to a Contract in the Contract Pool, which inaccuracy or breach Subsequent Contracts that materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s 's interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancementFund) or the collectibility thereof (an “Ineligible Contract”"INELIGIBLE CONTRACT"), or of an inaccuracy with respect to the representations as to concentrations of the Initial Contracts made under Section 3.05 of the Transfer and Sale Agreement, the party discovering the breach shall give prompt written notice to the other parties (and the Servicer shall, with respect to an inaccuracy concerning concentrations, select one or more Contracts, without employing adverse selection, as the related Excess Contract for purposes of this Section), PROVIDED, that the Trustees shall promptly notify CFUSA thereofhave no duty or obligation to inquire or to investigate the breach by the Seller of any of such representations or warranties. As The Seller, as provided in the Series 2006-VT1 VFC Purchase Agreement Transfer and the Non-VFC Purchase Sale Agreement and in accordance with this Section 7.06, CFUSA is obligated to shall repurchase each such Ineligible Contract or Excess Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded)Transfer Deposit Amount, not later than the second Deposit Date ninety (90) days following the date the Servicer Seller becomes aware of of, or receives written notice from any Trustee, the Servicer or the Trust Depositor of, any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; providedPROVIDED, howeverHOWEVER, that if CFUSA the Seller is able to effect a substitution for any such Ineligible Contract or Excess Contract in compliance with Section 2.032.04, CFUSA the Seller may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible affected Contract with a Substitute Subsequent Contract not later than the date a repurchase of such Ineligible affected Contract would be required hereunder; , and provided further, PROVIDED FURTHER that with respect to a breach of representation or inaccuracy of any such representations or warranties warranty relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or Contract the Servicer acting on its behalf) Seller may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Trust Assets (and, in the case of a substitution, had such Substitute Subsequent Contract been included as part of the related Transferred Trust Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA the Seller under the Purchase Transfer and Sale Agreements Agreement and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Servicer Transfer pursuant to Article VIIIEight. The right to enforce the repurchase or substitution obligation described in this Section shall constitute 7.06 is in no way to be satisfied with monies in the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation CriteriaReserve Fund.

Repurchases of, or Substitution for, Contracts for Breach of Representations and Warranties. Upon a discovery by the Servicer Servicer, the Trust Depositor or the Trustees of an inaccuracy or a breach of a representation or warranty of the Sellers as set forth in the Schedule of Representations which has been Exhibit J hereto or as made or deemed made with respect in any Addition Notice in any Subsequent Purchase Agreement relating to a Contract in the Contract Pool, which inaccuracy or breach Subsequent Contracts that materially adversely affects the Trust’s or any Noteholder’s or the Equity Certificateholder’s 's interest in such Contract (without regard to the benefits of the Reserve Account, any reserve fund, over collateralization or other similar enhancementFund) or the collectibility thereof (an “"Ineligible Contract”"), or of an inaccuracy with respect to the representations as to concentrations of the Initial Contracts made under Section 3.05 of the Transfer and Sale Agreement, the party discovering the breach shall give prompt written notice to the other parties (and the Servicer shall, with respect to an inaccuracy concerning concentrations, select one or more Contracts, without employing adverse selection, as the related Excess Contract for purposes of this Section), provided, that the Trustees shall promptly notify CFUSA thereofhave no duty or obligation to inquire or to investigate the breach by the Sellers of any of such representations or warranties. As The Sellers, as provided in the Series 2006-VT1 VFC Purchase Agreement Transfer and the Non-VFC Purchase Sale Agreement and in accordance with this Section 7.06, CFUSA is obligated to shall repurchase each such Ineligible Contract or Excess Contract, at a repurchase price equal to the Purchase Amount (determined as of the date such repurchase is to be funded)Transfer Deposit Amount, not later than the second Deposit Date ninety (90) days following the date the Servicer Seller becomes aware of of, or receives written notice from any Trustee, the Servicer or the Trust Depositor of, any such breach or inaccuracy and which breach or inaccuracy has not otherwise been cured; provided, however, that if CFUSA the Seller is able to effect a substitution for any such Ineligible Contract or Excess Contract in compliance with Section 2.032.04, CFUSA the Seller may, in lieu of repurchasing such Ineligible Contract, effect a substitution for such Ineligible affected Contract with a Substitute Contract not later than the date a repurchase of such Ineligible affected Contract would be required hereunder; , and provided further, further that with respect to a breach of representation or inaccuracy of any such representations or warranties warranty relating to the Contract Pool (or all Contracts conveyed on the Closing Date or Substitution Transfer Date, as the case may be) in the aggregate and not to any particular Contract, CFUSA (or Contract the Servicer acting on its behalf) Seller may select Contracts (without adverse selection) to repurchase (or substitute for) such that had such Contracts not been included as part of the related Transferred Trust Assets (and, in the case of a substitution, had such Substitute Contract been included as part of the related Transferred Trust Assets instead of the selected Ineligible Contract) there would have been no breach or inaccuracy of such representation or warranty. Notwithstanding any other provision of this Agreement, the obligation of CFUSA the Sellers under the Purchase Transfer and Sale Agreements Agreement and described in this Section 7.06 shall not terminate or be deemed released by any party hereto upon a Servicing Service Transfer pursuant to Article VIII. The right to enforce the repurchase or substitution obligation described in this Section shall constitute 7.06 is in no way to be satisfied with monies in the sole remedy of the Trust, the Indenture Trustee, the Depositor, the Noteholders and the Equity Certificateholder with respect to the inaccuracy or breach related to such Ineligible Contract. The Purchase Amount shall be allocated in accordance with the Allocation CriteriaReserve Fund.