Common use of Repurchase Programs Clause in Contracts

Repurchase Programs. NFC agrees that it will (i) provide the Liquidity Agent, the Dealers and each Rating Agency with at least 30 days' prior written notice of its intention to make Series 1996-2 Advances to NFLP under the Series 1996-2 Supplement for the purchase or financing of Vehicles manufactured by any new Manufacturer, (ii) provide the Liquidity Agent, the Dealers and each Rating Agency with a copy of the draft Repurchase Program of such Manufacturer as it then exists at the time of such notice and a copy of the final Repurchase Program promptly upon its being available and (iii) certify to the Liquidity Agent and the Liquidity Lenders that such new Manufacturer is an Eligible Manufacturer and that such Repurchase Program is an Eligible Repurchase Program at such time. In no event shall NFC agree, to the extent any consent of NFC is solicited or required by the Manufacturer or any assignor of such Repurchase Program, to any change in any Repurchase Program that is reasonably likely to materially adversely affect its rights or the rights of the NFC Secured Parties with respect to any Vehicles (except for an immaterial number of Vehicles) previously purchased under such Repurchase Program.

Repurchase Programs. NFC agrees that it will (i) provide the Liquidity Agent, the Dealers and each Rating Agency with at least 30 days' prior written notice of its intention to make Series 1996-2 Advances Loans to NFLP National under the Series 1996-2 Supplement Loan Agreement for the purchase or financing of Vehicles manufactured by any new Manufacturer, (ii) provide the Liquidity Agent, the Dealers and each Rating Agency with a copy of the draft Repurchase Program of such Manufacturer as it then exists at the time of such notice and a copy of the final Repurchase Program promptly upon its being available and (iii) certify to the Liquidity Agent and the Liquidity Lenders that such new Manufacturer is an Eligible Manufacturer and that such Repurchase Program is an Eligible Repurchase Program at such time. In no event shall NFC agree, to the extent any consent of NFC is solicited or required by the Manufacturer or any assignor of such Repurchase Program, to any change in any Repurchase Program that is reasonably likely to materially adversely affect its rights or the rights of the NFC Secured Parties with respect to any Vehicles (except for an immaterial number of Vehicles) Vehicle previously purchased under such Repurchase Program.