Clean Up Call. As of the first day of any Collection Period immediately preceding a Payment Date as of which the Aggregate Receivable Value is 10% or less of the Aggregate Receivable Value as of the Cut-off Date, the Purchaser may purchase all of the Collateral, other than the Trust Accounts. To exercise such option, the Purchaser shall pay to the Servicer, on behalf of the Issuer, and the Servicer shall deposit in the Collection Account an amount equal to the aggregate Purchase Amount for the Receivables and the related Equipment.
Appears in 6 contracts
Sources: Limited Removal and Clean Up Call Agreement (GE TF Trust), Limited Removal and Clean Up Call Agreement (GE TF Trust), Limited Removal and Clean Up Call Agreement (GE TF Trust)
Clean Up Call. As of the first day of any Collection Period immediately preceding a Payment Date as of which the Aggregate Receivable Value is 10% or less of the Aggregate Receivable Value as of the Cut-off Date, the Purchaser may Seller (or its assignee) shall have the option to purchase all of the Collateral, other than the Trust Accounts. To exercise such option, the Purchaser Seller (or its assignee) shall pay to the Servicer, on behalf of the Issuer, and the Servicer shall deposit in the Collection Account an amount equal to the aggregate Purchase Amount for the Receivables and the related Equipment.
Appears in 2 contracts
Sources: Receivables Purchase and Sale Agreement (GE Equipment Transportation LLC, Series 2013-2), Receivables Purchase and Sale Agreement (GE Equipment Transportation LLC, Series 2013-2)
Clean Up Call. As of the first day of any Collection Period immediately preceding a Payment Date as of which the Aggregate Receivable Value is 10% or less of the Aggregate Receivable Value as of the Cut-off Date, the Purchaser (or its assignee) may purchase all of the Collateral, other than the Trust Accounts. To exercise such option, the Purchaser (or its assignee) shall pay to the Servicer, on behalf of the Issuer, and the Servicer shall deposit in the Collection Account an amount equal to the aggregate Purchase Amount for the Receivables and the related Equipment.
Appears in 2 contracts
Sources: Limited Removal and Clean Up Call Agreement (GE Equipment Midticket LLC, Series 2013-1), Limited Removal and Clean Up Call Agreement (GE Equipment Midticket LLC, Series 2013-1)