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 has the meaning specified in Section 2.3(c) of the Exchange Note Sale Agreement.
Examples of Repurchase Payment in a sentence
In consideration of such Receivable, the Servicer shall remit the Repurchase Payment in the manner specified in Section 5.05.
Upon payment of such Repurchase Payment by the Servicer, the Issuer and the Indenture Trustee shall release and shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as shall be reasonably requested of it to vest in the Servicer or its designee any Receivable and any related Purchased Assets repurchased pursuant hereto.
Upon payment of such Repurchase Payment by the Seller, the Issuer and the Indenture Trustee shall release and shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as shall be reasonably requested of it to vest in the Seller or its designee any Receivable and any related Purchased Assets repurchased pursuant hereto.
In consideration of the purchase of the Receivables, the Seller shall remit (or cause to be remitted) the Repurchase Payment in the manner specified in Section 5.05.
Such deposit of funds in an amount at least equal to the Repurchase Payment received from a Dealer or Assigning Affiliate, as the case may be, shall satisfy the Servicer’s obligations pursuant to this Section and shall be deemed to constitute payment in full of the Repurchase Payment with respect thereto.
More Definitions of Repurchase Payment
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 means, with respect to a 2021-B Lease and the related 2021-B Vehicle required to be purchased by the Servicer pursuant to Section 3.05(a) of the 2021-B Servicing Supplement, the Outstanding Balance of such 2021-B Lease plus any accrued but unpaid interest thereon.
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.
Repurchase Payment means, with respect to any 2015-2 Lease Agreement that is to be purchased by the Servicer pursuant to Section 2.6 of the Basic Servicing Agreement or reallocated from the 2015-2 Designated Pool to the Lending Facility Pool in accordance with the 2015-2 Servicing Supplement due to the breach of any representation, warranty or covenant under the 2015-2 Servicing Supplement, the difference of (i) the Securitization Value of such 2015-2 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 2015-2 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.
Repurchase Payment means, with respect to a 2017-A Lease and the related 2017-A Vehicle required to be purchased by the Servicer pursuant to Section 3.05(a) of the 2017-A Servicing Supplement, the Outstanding Balance of such 2017-A Lease plus any accrued but unpaid interest thereon.
Repurchase Payment means, with respect to a 2019-B Lease and the related 2019-B Vehicle required to be purchased by the Servicer pursuant to Section 8.02(a) and Section 8.02(b) of the 2019-B Servicing Supplement, the sum of (i) the Securitization Value of the 2019-B Lease as of the end of the Collection Period preceding the Collection Period in which the Servicer granted an extension with respect to such 2019-B Lease or discovers or receives notice of the change in domicile with respect to Section 8.02(a) of the 2019-B Servicing Supplement or discovers a breach of representations or warranties pursuant to Section 8.02(b) of the 2019-B 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 2021-A Lease and the related 2021-A Vehicle required to be reallocated by the Servicer pursuant to Section 8.02(a) and Section 8.02(b) of the 2021-A Servicing Supplement, the sum of (i) the Securitization Value of the 2021-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 2021-A Lease or discovers a breach of representations or warranties pursuant to Section 8.02(b) of the 2021-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.