Common use of Repurchase by Seller Clause in Contracts

Repurchase by Seller. Upon the occurrence of any of the conditions set forth in Section 5.04 and upon the request of the Depositor or any permitted assignee thereof under Section 10.05, the Seller shall pay, or cause to be paid, to the Depositor an amount equal to the same percentage of the then-outstanding Principal Balance of such Financed Student Loan as the Seller originally paid in the Purchase Price for such Financed Student Loan, plus interest and Special Allowance Payments accrued and unpaid with respect to such Financed Student Loan from the applicable Closing Date to and including the date of repurchase, plus any attorneys' fees, legal expenses, court costs, servicing fees or other expenses incurred by the Depositor or the appropriate successors or assigns in connection with such Financed Student Loan and arising out of the reasons for the repurchase. With respect to any Financed Student Loan repurchased by the Seller pursuant to this Agreement, the Depositor Eligible Lender Trustee shall transfer, without recourse, representation or warranty, to the Seller Eligible Lender Trustee, on behalf of Seller, all of the Depositor's and the Depositor Eligible Lender Trustee's right, title and interest in and to such Financed Student Loan, and all security and documents relating thereto.

Repurchase by Seller. Upon the occurrence of any of the conditions set forth in Section 5.04 and upon the request of the Depositor or any permitted assignee thereof under Section 10.05, the Seller shall pay, or cause to be paid, to the Depositor an amount equal to the same percentage of the then-outstanding Principal Balance of such Financed Student Loan as the Seller originally paid in the Purchase Price for such Financed Student Loan, plus interest and Special Allowance Payments accrued and unpaid with respect to such Financed Student Loan from the applicable Closing Date to and including the date of repurchase, plus any attorneys' ’ fees, legal expenses, court costs, servicing fees or other expenses incurred by the Depositor or the appropriate successors or assigns in connection with such Financed Student Loan and arising out of the reasons for the repurchase. With respect to any Financed Student Loan repurchased by the Seller pursuant to this Agreement, the Depositor Eligible Lender Trustee shall transfer, without recourse, representation or warranty, to the Seller Eligible Lender Trustee, on behalf of Seller, Seller all of the Depositor's ’s and the Depositor Eligible Lender Trustee's ’s right, title and interest in and to such Financed Student Loan, and all security and documents relating thereto.

Repurchase by Seller. Upon the occurrence of any of the conditions set forth in Section 5.04 and upon the request of the Depositor or any permitted assignee thereof under Section 10.05, the Seller shall pay, or cause to be paid, to the Depositor an amount equal to the same percentage of the then-outstanding Principal Balance of such Financed Student Loan as the Seller originally paid in the Purchase Price for such Financed Student Loan, plus interest and Special Allowance Payments accrued and unpaid with respect to such Financed Student Loan from the applicable Closing Date to and including the date of repurchase, plus any attorneys' ’ fees, legal expenses, court costs, servicing fees or other expenses incurred by the Depositor or the appropriate successors or assigns in connection with such Financed Student Loan and arising out of the reasons for the repurchase. With respect to any Financed Student Loan repurchased by the Seller pursuant to this Agreement, the Depositor Eligible Lender Trustee shall transfer, without recourse, representation or warranty, to the Seller Eligible Lender Trustee, on behalf of Seller, all of the Depositor's ’s and the Depositor Eligible Lender Trustee's ’s right, title and interest in and to such Financed Student Loan, and all security and documents relating thereto.