Repurchase of Receivables; Payment of Purchase Amount Sample Clauses

Repurchase of Receivables; Payment of Purchase Amount. For a breach described in Section 2.5(a), the Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Depositor has knowledge or receives notice of and confirms the breach or, at the Depositor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
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Repurchase of Receivables; Payment of Purchase Amount. The Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Depositor has knowledge or was notified of and confirmed the breach or, at the Depositor’s option, on the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
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Repurchase of Receivables; Payment of Purchase Amount. The Depositor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable as of the last day of the Collection Period in which the Depositor has knowledge or was notified of and confirmed the breach or, at the Depositor’s option, as of the last day of the next Collection Period, unless the breach is cured in all material respects before that date. The Depositor will pay (or cause to be paid) the Purchase Amount on the Business Day before the related Payment Date (or, with satisfaction of the Rating Agency Condition, on the related Payment Date). If Ford Credit is the Servicer, the Depositor may cause the Purchase Amount to be paid according to Section 4.3(c).
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Related to Repurchase of Receivables; Payment of Purchase Amount

  • Receivables Purchase Price On the Closing Date, the Purchaser shall deliver to the Seller the Receivables Purchase Price, as provided in Section 2.1(b).

  • Purchase of Receivables Upon Breach Upon a breach of any of the covenants of the Servicer set forth in Section 3.07 that materially and adversely affects the interests of the Issuer or the Securityholders in any Receivable, or if an improper extension, rescheduling or modification of a Receivable is made by the Servicer as described in Section 3.02, and such breach or impropriety shall not have been cured in all material respects, the Servicer shall, as of the last day of the second Collection Period following the Collection Period in which it discovers such breach (or, at the Servicer’s election, the last day of the first Collection Period following the Collection Period in which it discovers such breach) purchase from the Issuer such Receivable and remit on the related Payment Date the Administrative Purchase Payment to the Collection Account in the manner specified in Section 4.05. Upon such deposit of the Administrative Purchase Payment, the Servicer shall for all purposes of this Agreement be deemed to have released all claims for reimbursement of Outstanding Advances made in respect of such Receivable. The sole remedy of the Issuer, the Trustees or the Securityholders against the Servicer with respect to a breach pursuant to Section 3.02 or 3.07 shall be to require the Servicer to purchase the related Receivables pursuant to this Section, except as otherwise provided in Section 6.02. Neither the Owner Trustee nor the Indenture Trustee shall have any duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase of any Receivable pursuant to this Section.

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

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