Common use of Clean Up Call; Reconveyance of Receivable Interests Clause in Contracts

Clean Up Call; Reconveyance of Receivable Interests. (a) The Servicer (so long as the Servicer is an Affiliate of the Seller) shall have the right (after providing written notice to the Administrator in accordance with the Required Notice Period), at any time following the reduction of the Aggregate Invested Amount to a level that is less than 10.0% of the highest Aggregate Invested Amount outstanding during the term of this Agreement, to repurchase all, but not less than all, of the then outstanding Receivable Interests. The purchase price in respect thereof shall be an amount equal to the Aggregate Unpaids through the date of such repurchase, payable in immediately available funds to the Administrator’s Account. Such repurchase shall be made free and clear of any Adverse Claim created by the Administrator but otherwise shall be without representation, warranty or recourse of any kind by, on the part of, or against TPF or the Administrator. (b) On the Final Payout Date, the Administrator on behalf of the Secured Parties shall be considered to have reconveyed free and clear of any Adverse Claim created by the Administrator (but otherwise shall be without representation, warranty or recourse of any kind by, on the part of, or against the Secured Parties or the Administrator) to the Seller all of the Administrator’s (on behalf of the Secured Parties) right, title and interest in, to and under the Receivables, Related Security and Collections with respect thereto and shall at the request, and sole cost and expense, of the Seller, execute and deliver to the Seller, all such documents or instruments as are necessary to terminate the Administrator’s interest on behalf of the Purchasers in the Receivables, Related Security and Collections with respect thereto

Clean Up Call; Reconveyance of Receivable Interests. (a) The Servicer (so long as the Servicer is an Affiliate of the Seller) shall have the right (after providing written notice to the Administrator Agent in accordance with the Required Notice Period), at any time following the reduction of the Aggregate Invested Amount to a level that is less than 10.0% of the highest Aggregate Invested Amount outstanding during the term of this Agreementoriginal Purchase Limit, to repurchase purchase all, but not less than all, of the then outstanding Receivable InterestsInterests (the "Clean Up Call"). The purchase price in respect thereof shall be an amount equal to the Aggregate Unpaids through the date of such repurchasepurchase, payable in immediately available funds to the Administrator’s Agent's Account. Such repurchase purchase shall be made free and clear of any Adverse Claim created by the Administrator Agent but otherwise shall be without representation, warranty or recourse of any kind by, on the part of, or against TPF the Secured Parties or the AdministratorAgent. (b) On Following the Final Payout Payment Date, the Administrator Agent on behalf of the Secured Parties shall be considered to have reconveyed free and clear of any Adverse Claim created by the Administrator Agent (but otherwise shall be without representation, warranty or recourse of any kind by, on the part of, or against the Secured Parties or the AdministratorAgent) to the Seller all of the Administrator’s Agent's (on behalf of the Secured Parties) right, title and interest in, to and under the Receivables, Related Security and Collections with respect thereto and shall at the request, and sole cost and expense, of the Seller, execute and deliver to the Seller, all such documents or instruments as are necessary to terminate the Administrator’s Agent's interest on behalf of the Purchasers in the Receivables, Related Security and Collections with respect thereto.