Common use of Sponsor Loss Coverage Obligation Clause in Contracts

Sponsor Loss Coverage Obligation. The Sponsor, for the benefit of the Noteholders and the Credit Enhancer, agrees that it will pay the Sponsor Loss Coverage Obligation for any Payment Date as reflected in the applicable Servicing Certificate to the Indenture Trustee for deposit in the Payment Account no later than the Business Day before the Payment Date.

Sponsor Loss Coverage Obligation. The Sponsor, for the benefit of the Noteholders and the Credit EnhancerNoteholders, agrees that it will pay the Sponsor Loss Coverage Obligation for any Payment Date as reflected in the applicable Servicing Certificate to the Indenture Trustee for deposit in the Payment Account no later than the Business Day before the Payment Date.

Sponsor Loss Coverage Obligation. The Sponsor, for the benefit of the Noteholders and the Credit Enhancer, agrees that it will pay the Sponsor Loss Coverage Obligation for any Payment Date as reflected in the applicable Servicing Certificate to the Indenture Trustee for deposit in the Payment Account no later than the Business Day before the Payment Date. Repurchases or substitutions resulting from any breach of a representation or warranty in accordance with Section 2.04(d) will be effected pursuant to Section 2.07 and will not be covered by, considered in connection with, or count as a partial credit toward the Sponsor's Loss Coverage Obligation.