Common use of Review of Contracts Clause in Contracts

Review of Contracts. If any of the Sellers or the Custodian (who shall thereupon notify TFI, Trendwest and the Trustee) discovers that any Contracts are missing or defective (that is, mutilated, damaged, defaced, incomplete, improperly dated, forged or otherwise physically altered) in any material respect, Trendwest shall correct or cure such omission, defect or other irregularity within 30 days from the date Trendwest discovered such omission or defect, or from the date Trendwest is notified by the Custodian of such omission or defect. In the event Trendwest is unable to correct or cure such omission, defect or irregularity within the 30-day period described in the preceding sentence, Trendwest shall purchase or replace such Contract from TFI in accordance with Section 3.03 hereof.

Review of Contracts. If any either of the Sellers Trendwest or the Custodian (who shall thereupon notify TFI, Trendwest and the Trustee) discovers that any Contracts are missing or defective (that is, mutilated, damaged, defaced, incomplete, improperly dated, clearly forged or otherwise physically altered) in any material respect, Trendwest shall correct or cure such omission, defect or other irregularity within 30 days from the date Trendwest discovered such omission or defect, or from the date Trendwest is notified by the Custodian of such omission or defect. In the event Trendwest is unable to correct or cure such omission, defect or irregularity within the 30-30 day period described in the preceding sentence, Trendwest shall purchase or replace such Contract Receivable from TFI the Issuer in accordance with Section 3.03 hereof.