Common use of Sale of Certificates Pursuant to Clause in Contracts

Sale of Certificates Pursuant to. Section 2.03 of the Agreement; Distributions Pursuant to Section 7.01 of this Series Supplement or Section 2.03 or 12.02(c) of the Agreement. (a) The amount to be paid by the Depositor to the Collection Account with respect to the Certificates in connection with a purchase of the Certificates pursuant to Section 2.03 of the Agreement shall equal the Reassignment Amount for the Distribution Date on which such repurchase occurs. (b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 of this Series Supplement or Section 2.03 of the Agreement allocable to the Series 2000-1 Certificates or any Termination Proceeds allocable to the Series 2000-1 Certificates deposited into the Collection Account pursuant to Section 12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) apply such amounts in the following priority: (i) deposit an amount equal to the Reassignment Amount on such date into the Collection Account and (ii) pay the remainder of any Termination Proceeds allocable to the Series 2000-1 Certificates to the Holder(s) of the BCRC Certificate and any Supplemental Certificate(s), pro rata in accordance with the respective percentage interests thereof. (c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, the entire amount deposited in the Collection Account pursuant to Section 7.01 of this Series Supplement and Section 2.03 of the Agreement allocable to the Series 2000-1 Certificates and all other amounts on deposit therein shall be distributed in full on the Certificates (up to the remaining outstanding principal amount thereof together with all accrued and unpaid interest thereon) on such date and any distribution made pursuant to paragraph (b) above shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement with respect to the Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp), Pooling and Servicing Agreement (Bombardier Receivables Master Trust I)

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Sale of Certificates Pursuant to. Section 2.03 of the Agreement; Distributions Pursuant to Section 7.01 of this Series Supplement or Section 2.03 or 12.02(c) of the Agreement. (a) The amount to be paid by the Depositor to the Collection Account with respect to the Certificates in connection with a purchase of the Certificates pursuant to Section 2.03 of the Agreement shall equal the Reassignment Amount for the Distribution Date on which such repurchase occurs. (b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 of this Series Supplement or Section 2.03 of the Agreement allocable to the Series 20001997-1 Certificates or any Termination Proceeds allocable to the Series 20001997-1 Certificates deposited into the Collection Account pursuant to Section 12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) apply such amounts in the following priority: (i) deposit an amount equal to the Reassignment Amount on such date into the Collection Account and (ii) pay the remainder of any Termination Proceeds allocable to the Series 20001997-1 Certificates to the Holder(s) of the BCRC Certificate and any Supplemental Certificate(s), pro rata in accordance with the respective percentage interests thereof. (c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, the entire amount deposited in the Collection Account pursuant to Section 7.01 of this Series Supplement and Section 2.03 of the Agreement allocable to the Series 20001997-1 Certificates and all other amounts on deposit therein shall be distributed in full on the Certificates (up to the remaining outstanding principal amount thereof together with all accrued and unpaid interest thereon) on such date and any distribution made pursuant to paragraph (b) above shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement with respect to the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)

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Sale of Certificates Pursuant to. Section 2.03 of the Agreement; Distributions Pursuant to Section 7.01 of this Series Supplement or Section 2.03 or 12.02(c) of the Agreement. (a) The amount to be paid by the Depositor to the Collection Account with respect to the Certificates in connection with a purchase of the Certificates pursuant to Section 2.03 of the Agreement shall equal the Reassignment Amount for the Distribution Date on which such repurchase occurs. (b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 of this Series Supplement or Section 2.03 of the Agreement allocable to the Series 20002002-1 Certificates or any Termination Proceeds allocable to the Series 20002002-1 Certificates deposited into the Collection Account pursuant to Section 12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) apply such amounts in the following priority: (i) deposit an amount equal to the Reassignment Amount on such date into the Collection Account and (ii) pay the remainder of any Termination Proceeds allocable to the Series 20002002-1 Certificates to the Holder(s) of the BCRC Certificate and any Supplemental Certificate(s), pro rata in accordance with the respective percentage interests thereof. (c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, the entire amount deposited in the Collection Account pursuant to Section 7.01 of this Series Supplement and Section 2.03 of the Agreement allocable to the Series 20002002-1 Certificates and all other amounts on deposit therein shall be distributed in full on the Certificates (up to the remaining outstanding principal amount thereof together with all accrued and unpaid interest thereon) on such date and any distribution made pursuant to paragraph (b) above shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement with respect to the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)

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