Common use of Optional Repurchase Clause in Contracts

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 1998-1 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 1998-1 shall each be reduced to zero and the Series 1998-1 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller Transferor shall have the option to purchase the interest of the Series 19981997-1 HoldersCertificateholders' 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. (b) The Seller Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller Transferor intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 19981997-1 shall each be reduced to zero and the Series 19981997-1 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(bsubsection 8.1(b).

Optional Repurchase. (a) 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, the Seller Transferor shall have the option to purchase the interest of the Series 19981996-1 Holders3 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. (b) The Seller Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller Transferor intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 19981996-1 3 shall each be reduced to zero and the Series 19981996-1 3 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section subsection 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 55.0% or less of the Initial Invested Amount, the Seller shall have the option to purchase the interest of the Certificateholders' Interest represented by Series 19982001-1 Holders1, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 thirty days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 1998-1 shall each be reduced to zero and the Series 19982001-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section SECTION 8.01(b).

Optional Repurchase. (a) 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, the Seller Transferor shall have the option to purchase the interest of the Series 19981997-1 HoldersCertificateholders' 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. (b) The Seller Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller Transferor intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 19981997-1 shall each be reduced to zero and the Series 19981997-1 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section subsection 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 55.0% or less of the Initial Invested Amount, the Seller shall have the option to purchase the interest of the Certificateholders' Interest represented by Series 19982000-1 Holders1, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 thirty days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 1998-1 shall each be reduced to zero and the Series 19982000-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section SECTION 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 5 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 5 shall each be reduced to zero and the Series 19982000-1 5 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 55.0% or less of the Initial Invested Amount, the Seller shall have the option to purchase the interest of the Certificateholders' Interest represented by Series 1998-1 Holders2000-__, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 thirty days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 1998-1 shall each be reduced to zero and the Series 1998-1 2000-__ Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section SECTION 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 8 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 8 shall each be reduced to zero and the Series 19982001-1 8 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 510% or less of the Initial largest Invested AmountAmount at any time on or after the Closing Date, the Seller Transferor shall have the option to purchase the interest of the Series 19981997-1 HoldersOne 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. (b) The Seller Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller Transferor intends to exercise such purchase option. Not later than 12:00 noon11:00 a.m., Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 19981997-1 One shall each be reduced to zero and the Series 19981997-1 One Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section subsection 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 Holders2 Certificateholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for the day immediately preceding such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the day immediately preceding the Distribution Date following such day. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day Distribution Date the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 2 shall each be reduced to zero and the Series 1998-1 S Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 1998-1 4 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 1998-1 4 shall each be reduced to zero and the Series 1998-1 4 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19981999-1 2 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19981999-1 2 shall each be reduced to zero and the Series 19981999-1 2 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19981999-1 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19981999-1 shall each be reduced to zero and the Series 19981999-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 3 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 3 shall each be reduced to zero and the Series 19982001-1 3 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller Sellers shall have the option to purchase the interest of the Series 19981997-1 HoldersCertificateholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for the day immediately preceding such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the day immediately preceding the Distribution Date following such day. (b) The Seller Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day Distribution Date the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19981997-1 shall each be reduced to zero and the Series 19981997-1 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 5% [5]% or less of the Initial Invested Amount, the Seller Transferor shall have the option to purchase the interest of the Series 1998-1 Holders[199_-_] 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. (b) The Seller Transferor shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller Transferor intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 1998-1 [199_-_] shall each be reduced to zero and the Series 1998-1 [199_-_] Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section subsection 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982002-1 2 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982002-1 2 shall each be reduced to zero and the Series 19982002-1 2 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 5 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 5 shall each be reduced to zero and the Series 19982001-1 5 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 2 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 2 shall each be reduced to zero and the Series 19982000-1 2 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 shall each be reduced to zero and the Series 19982000-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 6 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 6 shall each be reduced to zero and the Series 19982001-1 6 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 1998-1 2001- 2 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 2 shall each be reduced to zero and the Series 19982001-1 2 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller Transferors shall have the option to purchase the interest of the Series 19981997-1 HoldersCertificateholders' 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. (b) The Seller Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends Transferors intend to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 19981997-1 shall each be reduced to zero and the Series 19981997-1 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section subsection 8.01(b).

Optional Repurchase. (a) On any day occurring on or after the date on which the Invested Amount is reduced to 55.0% or less of the Initial Invested Amount, the Seller shall have the option to purchase the interest of the Certificateholders' Interest represented by Series 19982002-1 Holders1, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 thirty days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day the Seller 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 Account Amount in accordance with the foregoing, the Invested Amount for Series 1998-1 shall each be reduced to zero and the Series 19982002-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section SECTION 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 1998-1 199_-_ Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 1998-1 199_-_ shall each be reduced to zero and the Series 1998-1 199_-_ Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 3 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 3 shall each be reduced to zero and the Series 19982000-1 3 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 4 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 4 shall each be reduced to zero and the Series 19982000-1 4 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19981999-1 3 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19981999-1 3 shall each be reduced to zero and the Series 19981999-1 3 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 7 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 7 shall each be reduced to zero and the Series 19982001-1 7 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982002-1 4 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982002-1 4 shall each be reduced to zero and the Series 19982002-1 4 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982001-1 Holders, 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. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 shall each be reduced to zero and the Series 19982001-1 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, a Seller (so long as such Seller is the Seller Servicer or an Affiliate thereof) shall have the option to purchase the interest of the Series 19982001-1 4 Holders, 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. (b) The Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the such Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond time, on such day the that Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982001-1 4 shall each be reduced to zero and the Series 19982001-1 4 Certificateholders and the Class C Collateral Interest Holders Holder shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller Sellers shall have the option to purchase the interest of the Series 19981997-1 Holders4 Certificateholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for the day immediately preceding such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the day immediately preceding the Distribution Date following such day. (b) The Seller Sellers shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends Sellers intend to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day Distribution Date the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19981997-1 4 shall each be reduced to zero and the Series 19981997-1 4 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

Optional Repurchase. (a) 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, the Seller shall have the option to purchase the interest of the Series 19982000-1 Holders3 Certificateholders' Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for the day immediately preceding such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the day immediately preceding the Distribution Date following such day. (b) The Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Seller intends to exercise such purchase option. Not later than 12:00 noon, Richmond New York City time, on such day Distribution Date the Seller 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 Account in accordance with the foregoing, the Invested Amount for Series 19982000-1 3 shall each be reduced to zero and the Series 19982000-1 3 Certificateholders and the Class C Interest Holders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).