Common use of Optional Purchases Clause in Contracts

Optional Purchases. In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, OTF II and the Issuer may agree, from time to time, that OTF II shall purchase from the Issuer any Collateral Obligation. All such purchases shall be subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Collateral Trustee shall deposit into the Collection Account upon receipt. Nothing in this Section 12.3(b) shall create any obligation of OTF II to purchase any Collateral Obligation from the Issuer or any obligation of the Issuer to sell any Collateral Obligation to OTF.

Optional Purchases. In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, OTF II and the Issuer may agree, from time to time, that OTF II shall purchase from the Issuer any Collateral Obligation. All such purchases shall be subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Collateral Trustee shall deposit into the Collection Account upon receipt. Nothing in this Section 12.3(b) shall create any obligation of OTF II to purchase any Collateral Obligation from the Issuer or any obligation of the Issuer to sell any Collateral Obligation to OTF.

Optional Purchases. In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, OTF II and the Issuer may agree, from time to time, that OTF II shall purchase from the Issuer any Collateral Obligation. All such purchases shall be subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Collateral Trustee shall deposit into the Collection Account upon receipt. Nothing in this Section 12.3(b) shall create any obligation of OTF II to purchase any Collateral Obligation from the Issuer or any obligation of the Issuer to sell any Collateral Obligation to OTFOTF II.

Optional Purchases. In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, OTF II and shall have the right, but not the obligation, toand the Issuer may agree, from time to time, that OTF II shall purchase from the Issuer any Collateral Obligation. All such purchases shall be subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Collateral Trustee shall deposit into the Collection Account upon receipt. Nothing in this Section 12.3(b) shall create any obligation of OTF II to purchase any Collateral Obligation from the Issuer or any obligation of the Issuer to sell any Collateral Obligation to OTF.

Optional Purchases. In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, OTF II OTIC and the Issuer may agree, from time to time, that OTF II OTIC shall purchase from the Issuer any Collateral Obligation. All such purchases shall be subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Collateral Trustee shall deposit into the Collection Account upon receipt. Nothing in this Section 12.3(b) shall create any obligation of OTF II OTIC to purchase any Collateral Obligation from the Issuer or any obligation of the Issuer to sell any Collateral Obligation to OTFOTIC.