Optional Purchase definition

Optional Purchase has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.
Optional Purchase shall have the meaning assigned to such term in Section 9.01(a).
Optional Purchase has the meaning set forth in Section 9.2(a).

Examples of Optional Purchase in a sentence

  • The Servicer shall furnish written notice of its election to exercise the Optional Purchase to the Indenture Trustee, the Servicer, the Standby Servicer, the Administrator, the Grantor Trust Trustee and the Owner Trustee not later than ten days prior to the date of the Optional Purchase.

  • Following any such Optional Purchase, any funds remaining in the Reserve Account will be distributed to or at the direction of the Depositor.

  • The Issuer shall wind up and dissolve upon the latest of (i) satisfaction and discharge of the Indenture, (ii) the Optional Purchase of the Grantor Trust Estate pursuant to Section 4.1 of the Receivables Contribution Agreement or (iii) the final distribution from the Collection Account established pursuant to Section 4.1(a)(i) of the Sale and Servicing Agreement.

  • To avoid insufficient funds being available to make all payments as set forth in Section 4.4(a) of the Sale and Servicing Agreement in full, any funds remaining on deposit in the Reserve Account when the Optional Purchase is exercised shall be deposited into the Collection Account pursuant to Section 4.3(c) of the Sale and Servicing Agreement.

  • If the Servicer (or its designee) exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related Payment Date for the Redemption Price.


More Definitions of Optional Purchase

Optional Purchase has the meaning set forth in Section 9.03 of the Trust Agreement.
Optional Purchase means the exercise by the Servicer of its option to purchase all remaining Receivables from the Issuer on any Payment Date following the last day of a Collection Period as of which the Pool Balance is 5% or less of the Cutoff Date Pool Balance.
Optional Purchase or “Optional Purchase Price” have the respective meanings set forth in Section 2.19.
Optional Purchase has the meaning set forth in Section 2.19 of the Servicing Agreement.
Optional Purchase means the optional purchase of the Trust Property as set forth in Section 10.01(a) hereof.
Optional Purchase is defined in Section 6.04.
Optional Purchase has the meaning set forth in Section 6.6 of the Servicing Agreement.