Common use of SELLER'S REPURCHASE OPTION Clause in Contracts

SELLER'S REPURCHASE OPTION. On written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, provided the Pool Balance is then less than 10% of the Aggregate Principal Balance as of the Closing Date, Seller may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding principal balance of the Notes on the previous Distribution Date plus the Note Interest Distributable Amount for the current Distribution Date as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee and Indenture Trustee Fee to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' release of the Contracts and Contract Files as described in Section 7.10 of the Sale and Servicing Agreement.

Appears in 3 contracts

Samples: Transfer and Sale Agreement (Harley Davidson Customer Funding Corp), Transfer and Sale Agreement (Harley Davidson Customer Funding Corp), Transfer and Sale Agreement (Harley Davidson Customer Funding Corp)

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SELLER'S REPURCHASE OPTION. On As provided in the Transfer and Sale Agreement, on written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the Pool Balance is then less than 10% of the Aggregate Principal Balance as of the Closing Date, Seller and provided a valuation letter is delivered as required in Section 5.02 of the Transfer and Sale Agreement, the Seller, through the Trust Depositor, may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding aggregate unpaid principal balance of the Notes on the previous Distribution Date plus the aggregate of the Note Interest Distributable Amount for the current Distribution Date Date, the Reimbursement Amount (if any) as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee Fees and the Indenture Trustee Fee to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will shall be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' Owner Trustee's and Indenture Trustee's release of the Contracts and the Contract Files as described in Section 7.10 of to the Sale and Servicing AgreementSeller.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Harley Davidson Customer Funding Corp), Sale and Servicing Agreement (Harley Davidson Customer Funding Corp)

SELLER'S REPURCHASE OPTION. On written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, provided the Pool Balance is then less than 10% of the Aggregate Principal Balance as of the Closing DateInitial Pool Balance, Seller may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding Class A-2 Notes and the principal balance of the Notes Certificates on the previous Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee and Indenture Trustee Fee Trustees' Fees to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' release of the Contracts and Contract Files as described in Section 7.10 of the Sale and Servicing Agreement.

Appears in 2 contracts

Samples: Transfer and Sale Agreement (Eaglemark Inc), Transfer and Sale Agreement (Eaglemark Inc)

SELLER'S REPURCHASE OPTION. On written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, provided the Pool Balance is then less than 10% of the Aggregate Principal Balance as of the Closing Date, Seller may (but is -14- not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding principal balance of the Notes on the previous Distribution Date plus the Note Interest Distributable Amount for the current Distribution Date as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee and Indenture Trustee Fee to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' release of the Contracts and Contract Files as described in Section 7.10 of the Sale and Servicing Agreement.

Appears in 1 contract

Samples: Transfer and Sale Agreement (Harley Davidson Customer Funding Corp)

SELLER'S REPURCHASE OPTION. On written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, provided the Pool Balance is then less than 10% of the Aggregate Principal Balance as of the Closing Date, Seller may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding principal balance of the Notes on the previous Distribution Date plus the Note Interest Distributable Amount for the current Distribution Date as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee and Indenture Trustee Fee to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's ’s financial advisor that the Seller's ’s repurchase is for fair and adequate consideration. Such price will be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' release of the Contracts and Contract Files as described in Section 7.10 of the Sale and Servicing Agreement.

Appears in 1 contract

Samples: Transfer and Sale Agreement (Harley Davidson Customer Funding Corp)

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SELLER'S REPURCHASE OPTION. On As provided in the Transfer and Sale Agreement, on written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the Pool Balance is then less than 10% of the Aggregate Principal Balance Initial Pool Balance, and provided a valuation letter is delivered as required in Section 5.02 of the Closing DateTransfer and Sale Agreement, the Seller may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding principal balance aggregate of the Notes Class A-2 Principal Balance and the Certificate Balance on the previous Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date thereon, the Reimbursement Amount (if any) as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee Fees and Indenture Trustee Fee Trustees' Fees to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will is to be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' Owner Trustee's and Indenture Trustee's release of the Contracts and the Contract Files as described in Section 7.10 of to the Sale and Servicing Agreement.Seller. ARTICLE EIGHT

Appears in 1 contract

Samples: Sale and Servicing Agreement (Eaglemark Inc)

SELLER'S REPURCHASE OPTION. On As provided in the Transfer and Sale Agreement, on written notice to the Owner Trustee and the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the Pool Balance is then less than 10% of the Aggregate Principal Balance Initial Pool Balance, and provided a valuation letter is delivered as required in Section 5.02 of the Closing DateTransfer and Sale Agreement, Seller the Seller, through the Trust Depositor, may (but is not required to) repurchase from the Trust on that Distribution Date all outstanding Contracts (and related Contract Assets) at a price equal to the outstanding principal balance aggregate of the Notes Class A-2 Principal Balance and the Certificate Balance on the previous Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date thereon, the Reimbursement Amount (if any) as well as any unreimbursed Service Advances and the accrued and unpaid Monthly Servicing Fee Fees and Indenture Trustee Fee Trustees' Fees to the date of such repurchase, provided the Seller is in receipt of a valuation letter by the Seller's financial advisor that the Seller's repurchase is for fair and adequate consideration. Such price will is to be deposited in the Collection Account not later than one Business Day before such Distribution Date, against the Trustees' Owner Trustee's and Indenture Trustee's release of the Contracts and the Contract Files as described in Section 7.10 of to the Sale and Servicing AgreementSeller.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Eaglemark Inc)

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