Right of Seller to Repurchase Receivables. As of the last day of any Collection Period, the Seller has an option to repurchase any Receivable at a purchase price equal to the Purchase Amount of such Receivable; provided that the aggregate Principal Balance of all Receivables repurchased by the Seller pursuant to this Section 6.07 shall not at any time in the aggregate exceed 2.0% of the Initial Pool Balance. To exercise such option, the Seller shall deposit pursuant to Section 5.03 in the Collection Account an amount equal to the aggregate Purchase Amount of the repurchased Receivables.
Appears in 7 contracts
Samples: Sale and Servicing Agreement (John Deere Owner Trust 2010), Sale and Servicing Agreement (John Deere Owner Trust 2008), Sale and Servicing Agreement (John Deere Owner Trust 2009)
Right of Seller to Repurchase Receivables. As of the last day of any Collection Period, the Seller has an option to repurchase any Receivable at a purchase price equal to the Purchase Amount of such Receivable; provided that the aggregate Principal Balance of all Receivables repurchased by the Seller pursuant to this Section 6.07 shall not at any time in the aggregate exceed 2.0% of the Initial Pool Balance. To exercise such option, the Seller shall deposit pursuant to Section 5.03 in the Collection Account an amount equal to the aggregate Purchase Amount of the repurchased Receivables.. Form of Sale and Servicing Agreement
Appears in 1 contract
Samples: Sale and Servicing Agreement (Deere John Receivables Inc)
