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 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, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees and Indenture Trustee Fee to the date of such repurchase. 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.

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 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, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees and Indenture Trustee Fee to the date of such repurchase. 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.

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 Cutoff 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 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, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees and Indenture Trustee Fee to the date of such repurchase. 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.