Optional Purchase definition

Optional Purchase has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

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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 Notes shall be deemed to be due and payable on the date of the Optional Purchase for a purchase price equal to the Redemption Price (including any amounts transferred from the Reserve Account to the Collection Account pursuant to Section 5.06(e) of the Sale and Servicing Agreement upon the exercise of the Optional Purchase); provided, that the Issuer has available funds sufficient to pay the Redemption Price.
The Notes are subject to redemption in whole, but not in part, at the direction of the Servicer pursuant to Section 9.01 of the Sale and Servicing Agreement, on any Payment Date on which the Servicer exercises the Optional Purchase.
Additionally, any portion of the First Priority Principal Distribution Amount, the Second Priority Principal Distribution Amount and the Regular Principal Distribution Amount shall be deemed to be due and payable on any date where the Servicer elects to exercise its Optional Purchase and the Issuer redeems the outstanding Notes pursuant to Section 10.01.
The Servicer shall deposit or cause to be deposited into the Collection Account, on the date specified in Section 9.01, (i) the aggregate Purchased Amount with respect to all Receivables pursuant to the Servicer’s exercise of the Optional Purchase, less (ii) the amounts on deposit in the Reserve Account on the date of such Optional Purchase.
To avoid insufficient funds being available to make all payments as set forth in Section 5.05(b) 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 5.06(e).

More Definitions of Optional Purchase

Optional Purchase has the meaning set forth in Section 9.03 of the Trust Agreement.

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 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 means the optional purchase of the Trust Property as set forth in Section 10.01(a) hereof.

Optional Purchase has the meaning set forth in Section 4.1 of the Receivables Contribution Agreement.

Optional Purchase is defined in Section 6.04.