Common use of Optional Repurchase Clause in Contracts

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-7 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-7 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-7 shall be reduced to zero and the Series 20[__]-[_] 2017-7 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2024-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2024-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2024-1 shall be reduced to zero and the Series 20[__]-[_] 2024-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2000-4 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2000-4 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2000-4 shall be reduced to zero and the Series 20[__]-[_] 2000-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-3 shall be reduced to zero and the Series 20[__]-[_] 2017-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2000-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2000-3 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2000-3 shall be reduced to zero and the Series 20[__]-[_] 2000-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-6 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-6 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-6 shall be reduced to zero and the Series 20[__]-[_] 2017-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-7 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-7 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-7 shall be reduced to zero and the Series 20[__]-[_] 2018-7 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2023-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2023-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2023-3 shall be reduced to zero and the Series 20[__]-[_] 2023-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2022-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2022-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2022-2 shall be reduced to zero and the Series 20[__]-[_] 2022-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2025-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2025-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2025-1 shall be reduced to zero and the Series 20[__]-[_] 2025-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate The Series 2024-2 Notes shall be subject to repurchase by ABRCF at its option in accordance with Section 6.3 of the Servicer, Base Indenture on any day occurring on or Distribution Date (any such Distribution Date, a “Clean-up Repurchase Distribution Date”) after the date on which the Series 2024-2 Invested Amount is reduced to 5an amount less than or equal to 10% or less of the sum of the Class A Initial Invested Amount, the Class B Initial Invested Amount, the Class C Initial Invested Amount, the Class D Notes Initial Invested Amount, the Class R Initial Invested Amount and the aggregate principal amount of any Additional Class R Notes (the “Series 2024-2 Repurchase Amount”). The repurchase price for any Series 2024-2 Note subject to a Clean-up Repurchase shall equal the aggregate outstanding principal balance of such Transferor shall have the option Series 2024-2 Note (determined after giving effect to purchase the Series 20[__]-[_] Certificateholders’ Interest, at a purchase price equal to (i) if any payments of principal and interest on such day is a Distribution Date), the Reassignment Amount for plus accrued and unpaid interest on such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferoroutstanding principal balance. (b) The Transferor Series 2024-2 Notes shall give also be subject to repurchase at the Servicer and the Trustee at least 30 days prior written notice election of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount ABRCF in accordance with Section 6.3 of the foregoingBase Indenture, in whole but not in part, on any Distribution Date (any such Distribution Date, an “Optional Repurchase Distribution Date”) that occurs prior to the Invested Amount for Series 20[__]-[_] shall be reduced earlier to zero and occur of (x) the commencement of the Series 20[__]-[_] Certificateholders shall have no further interest in 2024-2 Rapid Amortization Period and (y) the ReceivablesClean-up Repurchase Distribution Date (any such repurchase, an “Optional Repurchase”). The Reassignment Amount repurchase price for any Series 2024-2 Note subject to an Optional Repurchase shall be distributed as set forth in subsection 8.01(bequal (1) the aggregate outstanding principal balance of such Series 2024-2 Note (determined after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date), plus (2) accrued and unpaid interest on such outstanding principal balance (determined after giving effect to any payments made pursuant to Section 2.4 on such Distribution Date) plus (3) the Make Whole Payment with respect to such Series 2024-2 Note.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-6 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-6 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-6 shall be reduced to zero and the Series 20[__]-[_] 2018-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-2 shall be reduced to zero and the Series 20[__]-[_] 2018-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2024-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2024-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2024-2 shall be reduced to zero and the Series 20[__]-[_] 2024-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-5 Certificateholders’ Table of Contents Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-5 shall be reduced to zero and the Series 20[__]-[_] 2017-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2019-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2019-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2019-4 shall be reduced to zero and the Series 20[__]-[_] 2019-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-4 shall be reduced to zero and the Series 20[__]-[_] 2017-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-8 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-8 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-8 shall be reduced to zero and the Series 20[__]-[_] 2018-8 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-2 shall be reduced to zero and the Series 20[__]-[_] 2017-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2025-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2025-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2025-5 shall be reduced to zero and the Series 20[__]-[_] 2025-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2025-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2025-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2025-3 shall be reduced to zero and the Series 20[__]-[_] 2025-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2021-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2021-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2021-1 shall be reduced to zero and the Series 20[__]-[_] 2021-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2019-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2019-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2019-2 shall be reduced to zero and the Series 20[__]-[_] 2019-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2025-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2025-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2025-4 shall be reduced to zero and the Series 20[__]-[_] 2025-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-4 shall be reduced to zero and the Series 20[__]-[_] 2018-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2019-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2019-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2019-3 shall be reduced to zero and the Series 20[__]-[_] 2019-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-3 shall be reduced to zero and the Series 20[__]-[_] 2018-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2023-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2023-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2023-4 shall be reduced to zero and the Series 20[__]-[_] 2023-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-1 shall be reduced to zero and the Series 20[__]-[_] 2017-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. In addition to the payment of any Optional Repayment Amounts pursuant to Section 4.07, the Seller shall have the option, on any Distribution Date on which the Class A Invested Amount is $10,000,000 or less, to purchase the entire Class A Certificateholders' Interest, by depositing to the Series 1997-1 Trustee's Account on such Distribution Date in immediately available funds not later than 12:00 noon, New York City time, a purchase price (adetermined after giving effect to any payment of principal and interest on such Distribution Date) So long equal to the sum of (i) the Class A Invested Amount on such Distribution Date, plus (ii) the amount of Class A Monthly Interest relating to such Distribution Date and any Class A Monthly Interest previously due and not paid and any Class A Additional Interest, plus (iii) the amount of any accrued and unpaid Program Fees, Administration Fees, Other Fees and Breakage Costs, plus (iv) the amount of accrued and unpaid Monthly Servicing Fee as of such Distribution Date, plus (v) all other amounts owing to the Transferor is Class A Certificateholders under any Transaction Document (such purchase price being the Servicer "Repurchase Price"); provided, however, if the Series 1992-1 Certificates or an Affiliate of the Series 1993-1 Certificates are outstanding, the Seller may not make such Optional Repurchase pursuant to this Section 4.07. The Seller shall give the Servicer, on any day occurring on or after the date on which Trustee and the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated Class A Certificateholders at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 ten days prior written notice of the date on which the Transferor Seller intends to exercise such purchase optionoption to purchase. Not later than 12:00 noon, New York City time, on such day The funds deposited to the Transferor Series 1997-1 Trustee's Account as payment of the Repurchase Price shall deposit be allocated and distributed pursuant to Article V with the Reassignment Amount into other Series 1997-1 Collections received during the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b)Period preceding such Distribution Date.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2022-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2022-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2022-3 shall be reduced to zero and the Series 20[__]-[_] 2022-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2025-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2025-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2025-2 shall be reduced to zero and the Series 20[__]-[_] 2025-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-1 shall be reduced to zero and the Series 20[__]-[_] 2018-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-5 shall be reduced to zero and the Series 20[__]-[_] 2018-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2019-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2019-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2019-1 shall be reduced to zero and the Series 20[__]-[_] 2019-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2022-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2022-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2022-4 shall be reduced to zero and the Series 20[__]-[_] 2022-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2024-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2024-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2024-3 shall be reduced to zero and the Series 20[__]-[_] 2024-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2018-9 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2018-9 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2018-9 shall be reduced to zero and the Series 20[__]-[_] 2018-9 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2017-8 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2017-8 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2017-8 shall be reduced to zero and the Series 20[__]-[_] 2017-8 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 1998-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 1998-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1998-1 shall be reduced to zero and the Series 20[__]-[_] 1998-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2004-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2004-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2004-1 shall be reduced to zero and the Series 20[__]-[_] 2004-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1997-8 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1997-8 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1997-8 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1997-10 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1997-10 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1997-10 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2012-4 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2012-4 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2012-4 shall be reduced to zero and the Series 20[__]-[_] 2012-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2002-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2002-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2002-1 shall be reduced to zero and the Series 20[__]-[_] 2002-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1998-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1998-3 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1998-3 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2009-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2009-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2009-1 shall be reduced to zero and the Series 20[__]-[_] 2009-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1999-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1999-3 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earliest of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1999-3 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2001-6 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2001-6 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2001-6 shall be reduced to zero and the Series 20[__]-[_] 2001-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1998-7 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1998-7 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1998-7 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2011-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2011-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2011-1 shall be reduced to zero and the Series 20[__]-[_] 2011-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2003-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2003-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2003-1 shall be reduced to zero and the Series 20[__]-[_] 2003-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day Distribution Date occurring on or after the date on which the Class A-1 Invested Amount is reduced to 5% $40,000,000 or less of less, the Initial Invested Amount, such Transferor Servicer shall have the option to purchase the Series 20[__]-[_] entire Class A-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Class A-1 Reassignment Amount for such Distribution Date or Date. (iib) if such day is not a Distribution Date, the Reassignment Amount for the On any Distribution Date following such day. If, on occurring after the date on which the Transferor exercises such optionClass A-2 Invested Amount is reduced to $60,000,000 or less, the long-term unsecured debt obligations of such Transferor purchasing Servicer shall have the Series 20[__]-[_] option to purchase the entire Class A-2 Certificateholders’ Interest is not rated ' Interest, at least in the third highest rating category by the Rating Agency, such Transferor shall deliver a purchase price equal to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of Class A-2 Reassignment Amount for such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such TransferorDistribution Date. (bc) The Transferor Servicer shall give the Servicer Seller and the Trustee at least 30 days 10 days' prior written notice of the date Distribution Date on which the Transferor Servicer intends to exercise such one of the purchase optionoptions described above. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Servicer shall deposit the Class A-1 Reassignment Amount or the Class A-2 Reassignment Amount, as applicable, into the Collection Account in immediately available funds. Such purchase option is options are subject to payment in full of the Class A-1 Reassignment Amount or the Class A-2 Reassignment Amount, as applicable. Following the deposit of the The Class A-1 Reassignment Amount into or the Collection Amount in accordance with the foregoingClass A-2 Reassignment Amount, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount as applicable, shall be distributed as set forth in subsection 8.01(bSection 8.01(e) or (f), as applicable. (d) If at the time the Servicer exercises one of its purchase options hereunder the Servicer's long-term unsecured debt has a rating lower than Baa3 by Moody's, the Servicer shall deliver to the Trustee on such Distribution Date an Opinion of Counsel (which must be an independent outside counsel) to the effect that, in reliance on certain certificates to the effect that the Class A-1 Certificateholders' Interest or Class A-2 Certificateholders' Interest, as applicable, purchased by the Servicer constitutes fair value for the consideration paid therefor and as to the solvency of the Servicer, the purchase of the Class A-1 Certificateholders' Interest or Class A-2 Certificateholders' Interest, as applicable, would not be considered a fraudulent conveyance under applicable law.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate The Series 2023-2 Notes shall be subject to repurchase by ABRCF at its option in accordance with Section 6.3 of the Servicer, Base Indenture on any day occurring on or Distribution Date (any such Distribution Date, a “Clean-up Repurchase Distribution Date”) after the date on which the Series 2023-2 Invested Amount is reduced to 5an amount less than or equal to 10% or less of the sum of the Class A Initial Invested Amount, the Class B Initial Invested Amount, the Class C Initial Invested Amount, the initial invested amount of the Class D Notes (if issued), the Class R Initial Invested Amount and the aggregate principal amount of any Additional Class R Notes (the “Series 2023-2 Repurchase Amount”). The repurchase price for any Series 2023-2 Note subject to a Clean-up Repurchase shall equal the aggregate outstanding principal balance of such Transferor shall have the option Series 2023-2 Note (determined after giving effect to purchase the Series 20[__]-[_] Certificateholders’ Interest, at a purchase price equal to (i) if any payments of principal and interest on such day is a Distribution Date), the Reassignment Amount for plus accrued and unpaid interest on such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferoroutstanding principal balance. (b) The Transferor Series 2023-2 Notes shall give also be subject to repurchase at the Servicer and the Trustee at least 30 days prior written notice election of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount ABRCF in accordance with Section 6.3 of the foregoingBase Indenture, in whole but not in part, on any Distribution Date (any such Distribution Date, an “Optional Repurchase Distribution Date”) that occurs prior to the Invested Amount for Series 20[__]-[_] shall be reduced earlier to zero and occur of (x) the commencement of the Series 20[__]-[_] Certificateholders shall have no further interest in 2023-2 Rapid Amortization Period and (y) the ReceivablesClean-up Repurchase Distribution Date (any such repurchase, an “Optional Repurchase”). The Reassignment Amount repurchase price for any Series 2023-2 Note subject to an Optional Repurchase shall be distributed as set forth in subsection 8.01(bequal (1) the aggregate outstanding principal balance of such Series 2023-2 Note (determined after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date), plus (2) accrued and unpaid interest on such outstanding principal balance (determined after giving effect to any payments made pursuant to Section 2.4 on such Distribution Date) plus (3) the Make Whole Payment with respect to such Series 2023-2 Note.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2012-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2012-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2012-5 shall be reduced to zero and the Series 20[__]-[_] 2012-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2007-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2007-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2007-3 shall be reduced to zero and the Series 20[__]-[_] 2007-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2007-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2007-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2007-5 shall be reduced to zero and the Series 20[__]-[_] 2007-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 1999-6 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 1999-6 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1999-6 shall be reduced to zero and the Series 20[__]-[_] 1999-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2001-5 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2001-5 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2001-5 shall be reduced to zero and the Series 20[__]-[_] 2001-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2012-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2012-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2012-2 shall be reduced to zero and the Series 20[__]-[_] 2012-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2012-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2012-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2012-3 shall be reduced to zero and the Series 20[__]-[_] 2012-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2004-4 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2004-4 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2004-4 shall be reduced to zero and the Series 20[__]-[_] 2004-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2010-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2010-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2010-1 shall be reduced to zero and the Series 20[__]-[_] 2010-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day Payment Date occurring on or after the date on which the Invested Amount is reduced to 5% or less than ten percent (10%) of the Initial Invested Amountinitial principal amount of the Series 2003-1 Certificates on the Closing Date or less, such the Transferor shall have the option option, subject to the condition set forth in paragraph (c), to purchase the entire, but not less than the entire, Series 20[__]-[_] 2003-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Payment Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days 10 Business Days' prior written notice of the date Payment Date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Payment Date the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following Amount and if for any reason the Transferor fails to deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoingAmount, the Invested Amount for Series 20[__]-[_] payments shall continue to be reduced made to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivablesas provided herein. The Reassignment Amount shall be distributed paid as set forth in subsection 8.01(bSection 8.1(b). (c) If at the time the Transferor exercises its purchase option hereunder the Transferor's unsecured debt is unrated or has a rating lower than the lowest investment grade rating of any Rating Agency, the Transferor shall deliver to the Trustee on such Payment Date an Opinion of Counsel (which must be an independent outside counsel) to the effect that, in reliance on certain certificates to the effect that the Series 2003-1 Certificateholders' Interest purchased by the Transferor constitutes fair value for the consideration paid therefor and as to the Transferor is solvent, the purchase of the Series 2003-1 Certificateholders' Interest would not be considered a fraudulent conveyance under applicable law.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[__] Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[__] Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[__] shall be reduced to zero and the Series 20[__]-[__] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1999-7 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1999-7 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earliest of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1999-7 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2003-2 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2003-2 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2003-2 shall be reduced to zero and the Series 20[__]-[_] 2003-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1999-2 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the L/C Reimbursement Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1999-2 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(e) through (l) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earliest of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the L/C Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1999-2 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1999-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the L/C Reimbursement Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1999-1 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(e) through (l) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earliest of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the L/C Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1999-1 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 510% or less of the Initial Invested Amount, such the Transferor shall have the option to purchase the Series 20[__]-[_] Certificateholders’ 1998-2 Securityholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises exercise such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is Holdings and PFR are not rated at least in the third highest rating category by the Rating Agency, such the Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such the Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice (with a copy to the Rating Agency) of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1998-2 shall be reduced to zero and the Series 20[__]-[_] Certificateholders 1998-2 Securityholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b8.1(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2014-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2014-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2014-1 shall be reduced to zero and the Series 20[__]-[_] 2014-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2023-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2023-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2023-1 shall be reduced to zero and the Series 20[__]-[_] 2023-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2000-5 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2000-5 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2000-5 shall be reduced to zero and the Series 20[__]-[_] 2000-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2006-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2006-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2006-1 shall be reduced to zero and the Series 20[__]-[_] 2006-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2001-2 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2001-2 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2001-2 shall be reduced to zero and the Series 20[__]-[_] 2001-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2014-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2014-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2014-5 shall be reduced to zero and the Series 20[__]-[_] 2014-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2009-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2009-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2009-2 shall be reduced to zero and the Series 20[__]-[_] 2009-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2015-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2015-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2015-1 shall be reduced to zero and the Series 20[__]-[_] 2015-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1998-6 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1998-6 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1998-6 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2005-8 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2005-8 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2005-8 shall be reduced to zero and the Series 20[__]-[_] 2005-8 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2000-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2000-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2000-1 shall be reduced to zero and the Series 20[__]-[_] 2000-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1998-9 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1998-9 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1998-9 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2002-2 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2002-2 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2002-2 shall be reduced to zero and the Series 20[__]-[_] 2002-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2002-6 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2002-6 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2002-6 shall be reduced to zero and the Series 20[__]-[_] 2002-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 2001-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2001-3 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2001-3 shall be reduced to zero and the Series 20[__]-[_] 2001-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 1999-1 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 1999-1 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1999-1 shall be reduced to zero and the Series 20[__]-[_] 1999-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor the Transferors shall have the option to purchase the Series 20[__]-[_] 1999-5 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises Transferors exercise such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 1999-5 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1999-5 shall be reduced to zero and the Series 20[__]-[_] 1999-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2008-6 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2008-6 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2008-6 shall be reduced to zero and the Series 20[__]-[_] 2008-6 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate Subject to other provisions of the Servicerthis Section 8.1, on any day Distribution Date occurring after the termination of the Revolving Period on or after the date on which the Adjusted Invested Amount of the Variable Base Certificates is reduced to 5an amount less than or equal to 10% or less of the Initial Series 2000-1 Maximum Invested Amount, such Transferor the Servicer shall have the option to purchase the Series 20[__]-[_] Certificateholders’ Interestentire amount of, but not less than the entire amount of, the Receivables, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount sum of the Optional Purchase Prices specified in each Supplement for such Distribution Date or (ii) if such day is Date. The Servicer hereby agrees not a Distribution Dateto exercise its purchase option under this Section 8.1 unless it concurrently exercises each similar purchase option specified in each other outstanding Supplement. In addition, the Reassignment Amount for Servicer will not be entitled to exercise any similar purchase option under any other Supplement unless it concurrently exercises the Distribution Date following such daypurchase option under this Section 8.1. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Depositor shall give the Servicer and the Trustee at least 30 days ten (10) days' prior written notice of the date Distribution Date on which the Transferor Depositor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Servicer shall deposit the Reassignment Amount Optional Purchase Price into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment AmountOptional Purchase Price. Following the deposit The portion of the Reassignment Amount into Optional Purchase Price allocable to the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount Variable Base Certificates shall be distributed as set forth in subsection 8.01(bArticle IV hereof. Final Distributions Final Distributions. The amount to be deposited into the Collection Account by the Depositor with respect to the purchase of the Variable Base Certificates pursuant to Section 2.03 of the Agreement shall equal the Optional Purchase Price as of the first Distribution Date following the Collection Period in which the obligation arises under the Agreement. The Optional Purchase Price deposited into the Collection Account pursuant to this Section 9.1 or Section 8.1 of this Series Supplement and allocated to Series 2000-1, shall be applied by the Trustee at the written direction of the Servicer (i.e. as set forth in the Distribution Date Statement and below), not later than 2:00 p.m., New York City time, on the Distribution Date on which such amounts are deposited, provided that if such deposit is not made prior to 1:00 p.m., New York City time, the Trustee shall not be required to make such applications until the following Business Day (or, in either case, if such date is not a Distribution Date, on the immediately following Distribution Date). The Optional Purchase Price shall be applied on such Distribution Date to pay the following amounts in the following order of priority: (i) all accrued and unpaid VBC Monthly Interest, Commitment Fees, Breakage Fees and Administrative Fees (together with any Carryover Interest and Carryover Commitment, Breakage and Administrative Fees) and (ii) the VBC Principal Balance on such Distribution Date. Termination Proceeds deposited into the Collection Account pursuant to Section 12.02(c) of the Agreement and allocated to Series 2000-1 and the Certificates, shall be applied by the Trustee at the written direction of the Servicer (i.e. as set forth in the Distribution Date Statement and below), not later than 2:00 p.m., New York City time, on the Distribution Date on which such amounts are deposited, provided that if such deposit is not made prior to 1:00 p.m., New York City time, the Trustee shall not be required to make such applications until the following Business Day (or, in either case, if such date of distribution is not a Distribution Date, on the immediately following Distribution Date). Termination Proceeds shall be applied to pay the following amounts in the following order of priority: (i) all accrued and unpaid VBC Monthly Interest, Commitment Fees, Breakage Fees and Administrative Fees (together with any Carryover Interest and Carryover Commitment, Breakage and Administrative Fees) and (ii) the VBC Principal Balance. Trust Liquidation Proceeds deposited into the Collection Account pursuant to Section 9.02(c) of the Agreement and allocated to Series 2000-1 shall be applied by the Trustee at the written direction of the Servicer (i.e. as set forth in the Distribution Date Statement and below), not later than 2:00 p.m., New York City time, on the Distribution Date on which such amounts are deposited, provided that if such deposit is not made prior to 1:00 p.m., New York City time, the Trustee shall not be required to make such applications until the following Business Day (or, in either case, if such date of distribution is not a Distribution Date, on the immediately following Distribution Date). Trust Liquidation Proceeds shall be applied to pay the following amounts in the following order of priority: (i) all accrued and unpaid VBC Monthly Interest, Commitment Fees, Breakage Fees and Administrative Fees (together with any Carryover Interest and Carryover Commitment, Breakage and Administrative Fees) and (ii) the VBC Principal Balance. Notwithstanding anything to the contrary contained in this Series Supplement or the Agreement, any distribution made pursuant to this Section 9.1 shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement with respect to the Certificates. Any such final distribution shall be made no later than the Distribution Date in September 2006.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2005-4 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2005-4 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2005-4 shall be reduced to zero and the Series 20[__]-[_] 2005-4 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the Transferor is the Servicer or an Affiliate of the Servicer, on On any day occurring on or after the date on which the Invested Amount is reduced to 510% or less of the Initial Invested Amount, such the Transferor shall have the option to purchase the Series 20[__]-[_] Certificateholders’ 1998-3 Securityholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises exercise such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is Holdings and PFR are not rated at least in the third highest rating category by the Rating Agency, such the Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such the Transferor. (b) The Transferor shall give the Servicer and the Trustee at least 30 days prior written notice (with a copy to the Rating Agency) of the date on which the Transferor intends to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 1998-3 shall be reduced to zero and the Series 20[__]-[_] Certificateholders 1998-3 Securityholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b8.1(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2008-5 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2008-5 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2008-5 shall be reduced to zero and the Series 20[__]-[_] 2008-5 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2005-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2005-3 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2005-3 shall be reduced to zero and the Series 20[__]-[_] 2005-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2003-3 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such either Transferor purchasing the Series 20[__]-[_] 2003-3 Certificateholders’ ' Interest is not rated at least in the third highest rating category by the Rating Agency, (Series 2003-3 Supplement) 31 such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s 's Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2003-3 shall be reduced to zero and the Series 20[__]-[_] 2003-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as On the Transferor is the Servicer or an Affiliate of the Servicer, on any day Distribution Date occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested AmountAmount or less, such Transferor the Sellers shall have the option to purchase the Series 20[__]-[_] 1997-7 Certificateholders’ ' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day Distribution Date the Transferor Sellers shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] shall be reduced to zero and the Series 20[__]-[_] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection Section 8.01(b). (c) If the Loan Agreement or any Additional Loan Agreement so provides, in the event the Sellers exercise such purchase option, notwithstanding anything to the contrary contained in the Agreement or in this Series Supplement, the Series 1997-7 Certificates shall be deemed to remain outstanding as if such purchase option were not exercised and the terms of the Agreement and this Series Supplement (other than Section 4.11(c) through (i) of this Series Supplement and Section 12.02(c) of the Agreement) shall otherwise remain in effect until the earlier of (i) one year and one day following the Termination Date, (ii) the date on which the Trust terminates and (iii) the date on which the Class A Invested Amount, the Class B Invested Amount and the CCA Invested Amount, if any, would have been paid in full had such purchase option not been exercised; provided that distributions which would otherwise have been made to the Series 1997-7 Certificateholders shall be made to the Sellers.

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2008-1 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2008-1 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2008-1 shall be reduced to zero and the Series 20[__]-[_] 2008-1 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2013-3 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2013-3 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2013-3 shall be reduced to zero and the Series 20[__]-[_] 2013-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2007-2 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2007-2 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2007-2 shall be reduced to zero and the Series 20[__]-[_] 2007-2 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).

Optional Repurchase. (a) So long as the a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 20[__]-[_] 2007-7 Certificateholders’ Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which the a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 20[__]-[_] 2007-7 Certificateholders’ Interest is not rated at least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. (b) The Transferor Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferor intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferor Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 20[__]-[_] 2007-7 shall be reduced to zero and the Series 20[__]-[_] 2007-7 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b).