Common use of Repurchase of Receivables Upon Breach of Warranty Clause in Contracts

Repurchase of Receivables Upon Breach of Warranty. Upon the occurrence of a Repurchase Event, Seller shall, unless the breach which is the subject of such Repurchase Event shall have been cured in all material respects, repurchase the Receivable relating thereto from the related Issuer under the related Master Sale and Servicing Agreement by the last day of the first full calendar month following the discovery of such breach by Seller or receipt by Seller of notice of such breach from any of the Master Servicer, HARC, a Trust Officer of the related Indenture Trustee or the related Owner Trustee and, simultaneously with the repurchase of the Receivable, Seller shall deposit the Repurchase Amount in full, without deduction or offset, in the Collection Account, pursuant to Section 3.2 of the related Master Sale and