Common use of Timeshare Loans on Reacquisition Date Clause in Contracts

Timeshare Loans on Reacquisition Date.  Notice of reacquisition having been given as provided in Section 11.2 hereof and deposit of the Reacquisition Price with the Buyer having been made as provided in Section 11.4 hereof, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool or the Sixth Aggregate Sale Date Loan Pool being reacquired shall on the Reacquisition Date, become due and payable at the Reacquisition Price, and, on such Reacquisition Date, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall cease to accrue the Program Fee. The Buyer shall apply all available funds in the Trust Accounts and the Buyer shall be paid any remaining portion of the Reacquisition Price by the Servicer upon transfer of the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool being purchased by the Servicer or its designee. If the Servicer shall have failed to deposit the Reacquisition Price with the Buyer, the principal and the Program Fee with respect to the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall, until paid, continue to accrue at the applicable Program Fee Rate. The Servicer's failure to deposit the Reacquisition Price shall not constitute a Purchase Termination Event hereunder.

Timeshare Loans on Reacquisition Date.  Notice of reacquisition having been given as provided in Section 11.2 hereof and deposit of the Reacquisition Price with the Buyer having been made as provided in Section 11.4 hereof, the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, or the Fifth Aggregate Sale Date Loan Pool or the Sixth Aggregate Sale Date Loan Pool being reacquired shall on the Reacquisition Date, become due and payable at the Reacquisition Price, and, on such Reacquisition Date, the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, or the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall cease to accrue the Program Fee. The Buyer shall apply all available funds in the Trust Accounts and the Buyer shall be paid any remaining portion of the Reacquisition Price by the Servicer upon transfer of the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, or the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool being purchased by the Servicer or its designee. If the Servicer shall have failed to deposit the Reacquisition Price with the Buyer, the principal and the Program Fee with respect to the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, or the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, Pool as applicable, shall, until paid, continue to accrue at the applicable Program Fee Rate. The Servicer's failure to deposit the Reacquisition Price shall not constitute a Purchase Termination Event hereunder.

Timeshare Loans on Reacquisition Date.  Notice of reacquisition having been given as provided in Section 11.2 hereof and deposit of the Reacquisition Price with the Buyer having been made as provided in Section 11.4 hereof, the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool or the Sixth Aggregate Sale Date Loan Pool being reacquired shall on the Reacquisition Date, become due and payable at the Reacquisition Price, and, on such Reacquisition Date, the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall cease to accrue the Program Fee. The Buyer shall apply all available funds in the Trust Accounts and the Buyer shall be paid any remaining portion of the Reacquisition Price by the Servicer upon transfer of the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool being purchased by the Servicer or its designee. If the Servicer shall have failed to deposit the Reacquisition Price with the Buyer, the principal and the Program Fee with respect to the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall, until paid, continue to accrue at the applicable Program Fee Rate. The Servicer's failure to deposit the Reacquisition Price shall not constitute a Purchase Termination Event hereunder.

Timeshare Loans on Reacquisition Date.  Notice of reacquisition having been given as provided in Section 11.2 hereof and deposit of the Reacquisition Price with the Buyer having been made as provided in Section 11.4 hereof, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth First Aggregate Sale Date Loan Pool or the Sixth Second Aggregate Sale Date Loan Pool or the Third Aggregate Sale Date Loan Pool being reacquired shall on the Reacquisition Date, become due and payable at the Reacquisition Price, and, on such Reacquisition Date, the First Aggregate Sale Date Loan Pool or the Second Aggregate Sale Date Loan Pool, Pool or the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall cease to accrue the Program Fee. The Buyer shall apply all available funds in the Trust Accounts and the Buyer shall be paid any remaining portion of the Reacquisition Price by the Servicer upon transfer of the First Aggregate Sale Date Loan Pool or the Second Aggregate Sale Date Loan Pool, Pool or the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool being purchased by the Servicer or its designee. If the Servicer shall have failed to deposit the Reacquisition Price with the Buyer, the principal and the Program Fee with respect to the First Aggregate Sale Date Loan Pool or the Second Aggregate Sale Date Loan Pool, Pool or the Third Aggregate Sale Date Loan Pool, the Fourth Aggregate Sale Date Loan Pool, the Fifth Aggregate Sale Date Loan Pool, or the Sixth Aggregate Sale Date Loan Pool, as applicable, shall, until paid, continue to accrue at the applicable Program Fee Rate. The Servicer's ’s failure to deposit the Reacquisition Price shall not constitute a Purchase Termination Event hereunder.