Common use of Repurchase Events Clause in Contracts

Repurchase Events. CNHICA hereby covenants and agrees with CNHCR for the benefit of CNHCR, the Indenture Trustee, the Noteholders, the Trust, the Trustee and the Certificateholders that the occurrence of a breach of any of CNHICA’s representations and warranties contained in Section 3.2(b) shall constitute events obligating CNHICA to repurchase any Receivable materially and adversely affected by any such breach (“Repurchase Events”) at the Purchase Amount from CNHCR or from the Trust. Except as set forth in Section 5.5, the repurchase obligation of CNHICA shall constitute the sole remedy of CNHCR, the Indenture Trustee, the Noteholders, the Trust, the Trustee or the Certificateholders against CNHICA with respect to any Repurchase Event or any other breach pursuant to Section 3.2(b) hereof. Section 4.6 and Section 9.1(a) of the Sale and Servicing Agreement are hereby incorporated by reference as if they were set forth herein, and CNHICA agrees to purchase or repurchase any Receivable which these sections require it, or permit the Servicer to cause it, to purchase or repurchase.

Repurchase Events. CNHICA CNHCA hereby covenants and agrees with CNHCR for the benefit of CNHCR, the Indenture Trustee, the Noteholders, the Trust, the Trustee and the Certificateholders that the occurrence of a breach of any of CNHICACNHCA’s representations and warranties contained in Section 3.2(b) shall constitute events obligating CNHICA CNHCA to repurchase any Receivable materially and adversely affected by any such breach (“Repurchase Events”) at the Purchase Amount from CNHCR or from the Trust. Except as set forth in Section 5.5, the repurchase obligation of CNHICA CNHCA shall constitute the sole remedy of CNHCR, the Indenture Trustee, the Noteholders, the Trust, the Trustee or the Certificateholders against CNHICA CNHCA with respect to any Repurchase Event or any other breach pursuant to Section 3.2(b) hereof. Section 4.6 and Section 9.1(a) of the Sale and Servicing Agreement are hereby incorporated by reference as if they were set forth herein, and CNHICA CNHCA agrees to purchase or repurchase any Receivable which these sections require it, or permit the Servicer to cause it, to purchase or repurchase.