Common use of SELLER'S REPURCHASE OPTION Clause in Contracts

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on written notice to the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Date, the Seller, through the Depositor, may (but is not required to) repurchase on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees and the Indenture Trustee Fees to the date of such repurchase. Such price will be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to the Seller.

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on On written notice to the Owner Trustee and the Indenture Trustee at least 20 twenty (20) days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Date, the Seller, through the Depositor, Seller may (but is not required to) repurchase from the Issuer on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) Date as well as any unreimbursed Servicer Advances and the accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees Fee and the Indenture Trustee Fees to the date of such repurchase. Such price will be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to as described in SECTION 7.08 of the SellerSale and Servicing Agreement.

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on written notice to the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Closing Date, 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 on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees and the Indenture Trustee Fees to the date of such repurchase. Such price will be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to the Seller.. ARTICLE EIGHT

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on On written notice to the Owner Trustee and the Indenture Trustee at least 20 twenty (20) days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Date, the Seller, through the Depositor, Seller may (but is not required to) repurchase from the Issuer on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) Date as well as any unreimbursed Servicer Advances and the accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees Fee and the Indenture Trustee 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 (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to as described in Section 7.10 of the SellerSale and Servicing Agreement.

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on written notice to the Indenture Trustee at least 20 days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Date, the Seller, through the Depositor, may (but is not required to) repurchase on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) as well as accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees and the Indenture Trustee Fees to the date of such repurchase. Such price will be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to the Seller.

SELLER'S REPURCHASE OPTION. As provided in the Transfer and Sale Agreement, on On written notice to the Owner Trustee and the Indenture Trustee at least 20 twenty (20) days prior to a Distribution Date, and provided that the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance on such Distribution Date is less than 10% of the Aggregate Principal Balance as of the Cutoff Date, the Seller, through the Depositor, Seller may (but is not required to) repurchase from the Issuer on that Distribution Date pursuant to the Transfer and Sale Agreement all outstanding Contracts (and related Contract Assets) at a price equal to the sum of (i) the aggregate unpaid principal balance balances of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and (ii) the Certificate Balance as of that Distribution Date plus the aggregate of the Note Interest Distributable Amount and the Certificate Interest Distributable Amount for the current Distribution Date, the Reimbursement Amount (if any) Date as well as any unreimbursed Servicer Advances and the accrued and unpaid Monthly Servicing Fees, the Owner Trustee Fees Fee and the Indenture Trustee Fees to the date of such repurchase. Such price will be deposited in the Collection Account not later than one (1) Business Day before such Distribution Date, against the Trustees' release of the Contracts and the Contract Files to as described in SECTION 7.08 of the SellerSale and Servicing Agreement.