Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.
Repurchase Payment means, with respect to a 2014-A Lease and the related 2014-A Vehicle required to be purchased by the Servicer pursuant to Section 8.02(a) and Section 8.02(b) of the 2014-A Servicing Supplement, the sum of (i) the Securitization Value of the 2014-A Lease as of the end of the Collection Period preceding the Collection Period in which the Servicer granted an extension with respect to such 2014-A Lease or discovers or receives notice of the change in domicile with respect to Section 8.02(a) of the 2014-A Servicing Supplement or discovers a breach of representations or warranties pursuant to Section 8.02(b) of the 2014-A Servicing Supplement and (ii) any delinquent Monthly Payments which have not been paid by the related Lessee by the end of the Collection Period relating to the Deposit Date on which the Repurchase Payment will be made.
Repurchase Payment means, with respect to any 2016-3 Lease Agreement that is to be purchased by the Servicer pursuant to Section 2.6 of the Basic Servicing Agreement or reallocated from the 2016-3 Designated Pool to the Lending Facility Pool in accordance with the 2016-3 Servicing Supplement due to the breach of any representation, warranty or covenant under the 2016-3 Servicing Supplement, the difference of (i) the Securitization Value of such 2016-3 Lease Agreement as of the end of the Collection Period in which (a) the cure period ended with respect to Section 2.6(b) of the Basic Servicing Agreement or Section 2.5 of the 2016-3 Servicing Supplement, as applicable or (b) the Servicer discovers or receives notice of such change with respect to Section 2.6(c) of the Basic Servicing Agreement, minus (ii) any Monthly Payments received by the Servicer from the related Lessee as of the date of purchase or reallocation by the Servicer that were not yet due from the Lessee as of such date.
Examples of Repurchase Payment in a sentence
The sole remedy of the Collateral Agent, the 2024-A Exchange Noteholder, the Indenture Trustee and the Holders of the 2024-A ABS Notes with respect to (i) a breach of the representations and warranties contained in Section 3.03 or (ii) any of the events described in Section 3.05(a)(i)(B), (a)(ii) or (a)(iii) is to cause the related Repurchase Payment to be paid as provided in Section 3.05(a)(iv).
Upon the deposit of the Repurchase Payment for any 2024-A Lease and 2024-A Vehicle pursuant to Section 3.05(a), such 2024-A Lease and 2024-A Vehicle will be reallocated to the Revolving Facility Pool at the direction of the Servicer and will no longer be included in the 2024-A Reference Pool.
More Definitions of Repurchase Payment
Repurchase Payment means, with respect to a 2020-A Lease and the related 2020-A Vehicle required to be purchased by the Servicer pursuant to Section 3.05(a) of the 2020-A Servicing Supplement, the Outstanding Balance of such 2020-A Lease plus any accrued but unpaid interest thereon.
Repurchase Payment has the meaning specified in Section 2.3(c) of the Exchange Note Sale Agreement.
Repurchase Payment means, with respect to any Lease Agreement or Leased Vehicle, as the case may be, that is to be purchased by the Servicer pursuant to Section 2.6 of the Basic Servicing Agreement or reallocated from the related Designated Pool to the Lending Facility Pool in accordance with the related Servicing Supplement due to the breach of any representation, warranty or covenant under such Servicing Supplement, either (A) the Securitization Value of such Lease Agreement as of the end of the Collection Period in which (1) the cure period ended with respect to Section 2.6(b) of the Basic Servicing Agreement or (2) the Servicer discovers or receives notice of such change with respect to Section 2.6(c) of the Basic Servicing Agreement or (B) with respect to any Lease Agreement or Leased Vehicle, as the case may be, allocated to a Designated Pool, the purchase price as set forth in the related Servicing Supplement if a separate calculation of the “Repurchase Payment” is set forth therein.
Repurchase Payment has the meaning assigned to that term in Section 2.4(a).
Repurchase Payment means, with respect to a 2023-A Lease and the related 2023-A Vehicle required to be reallocated by the Servicer pursuant to Section 8.02(a) and Section 8.02(b) of the 2023-A Servicing Supplement, the sum of (i) the Securitization Value of the 2023-A Lease as of the end of the Collection Period preceding the Collection Period in which the Servicer granted an extension with respect to such 2023-A Lease or discovers a breach of representations or warranties pursuant to Section 8.02(b) of the 2023-A Servicing Supplement and (ii) any delinquent Monthly Payments which have not been paid by the related Lessee by the end of the Collection Period relating to the Deposit Date on which the Repurchase Payment will be made.
Repurchase Payment means, with respect to a 2012-A Lease and the related 2012-A Vehicle required to be purchased by the Servicer pursuant to Section 3.05(a) of the 2012-A Servicing Supplement, the Outstanding Balance of such 2012-A Lease plus any accrued but unpaid interest thereon.
Repurchase Payment with respect to any Program Vehicle subject to repurchase by the Manufacturer thereof, means a payment (which may include allowances, credits and/or charges under the applicable Vehicle Disposition Program) by such Manufacturer, pursuant to the Manufacturer’s Vehicle Disposition Program, to repurchase such Vehicle in accordance with its Vehicle Disposition Program.