Mandatory termination – termination of Credit Insurance Sample Clauses

Mandatory termination – termination of Credit Insurance. If for any reason: (a) the Credit Insurance is terminated by the Credit Insurer, and (b) no substitute Credit Insurance is entered into with an Approved Credit Insurer, in accordance with the terms and conditions of this Agreement, before the end of the validity of the Credit Insurance, the Purchaser shall have the possibility, by notice to the Parent and each Originator, to cancel each Facility on the date on which the termination of the Credit Insurance becomes effective and each Originator shall repurchase all the Transferred Debts it previously assigned to the Purchaser in accordance with the relevant provisions of the relevant Receivables Purchase Agreement.