Optional Purchase definition

Optional Purchase has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

Optional Purchase shall have the meaning assigned to such term in Section 9.01(a).

Optional Purchase has the meaning set forth in Section 9.2(a).

Examples of Optional Purchase in a sentence

• The Issuer shall wind up and dissolve upon the latest of (1) satisfaction and discharge of the Indenture, (2) the Optional Purchase of the Trust Estate pursuant to the Sale and Servicing Agreement or (3) the final distribution from the Collection Account established pursuant to Section 4.1(a)(i) of the Sale and Servicing Agreement.

• The Servicer shall be permitted to pay the Optional Purchase Price pursuant to Section 8.1 net of amounts to be distributed to the Servicer or its Affiliates on the related Redemption Date, and accounts between the Servicer and such Affiliates shall be adjusted accordingly.

• The Servicer shall furnish written notice of its election to exercise the Optional Purchase to the Indenture Trustee and the Owner Trustee not later than ten days prior to the date of the Optional Purchase.

• To exercise such option, the Servicer (or its designee) shall deposit, subject to Section 4.5, the Optional Purchase Price into the Collection Account on the Redemption Date; provided that, at the Servicer’s option, any Collections deposited into the Collection Account after the last day of the Collection Period immediately preceding the Redemption Date may either be applied to reduce the amount of such deposit or remitted to the Servicer (or its designee) following the exercise of the Optional Purchase.

• If the Servicer (or its designee) exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related Payment Date for the Redemption Price.

More Definitions of Optional Purchase

Optional Purchase has the meaning set forth in Section 9.03 of the Trust Agreement.

Optional Purchase means the optional purchase of the Trust Property as set forth in Section 10.01(a) hereof.

Optional Purchase has the meaning set forth in Section 2.19 of the Servicing Agreement.

Optional Purchase or “Optional Purchase Price” have the respective meanings set forth in Section 2.19.

Optional Purchase means the exercise by the Servicer of its option to purchase all remaining Receivables from the Issuer on any Payment Date following the last day of a Collection Period as of which the Pool Balance is 5% or less of the Cutoff Date Pool Balance.

Optional Purchase is defined in Section 6.04.

Optional Purchase has the meaning set forth in Section 6.6 of the Servicing Agreement.