Common use of Review Notices Clause in Contracts

Review Notices. Upon (i) receipt of a Review Notice from the Indenture Trustee and (ii) receipt of a list of Review Assets from the Servicer (which list will be delivered by the Servicer to the Asset Representations Reviewer within ten (10) Business Days of the Servicer’s receipt of a Review Notice), the Asset Representations Reviewer will start a Review. The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice and the related list of Review Assets is received by it. The Asset Representations Reviewer is not obligated to verify (i) whether the Indenture Trustee properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Assets provided by the Servicer.

Appears in 28 contracts

Samples: Asset Representations Review Agreement (BMW Vehicle Lease Trust 2024-1), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2024-1), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2023-2)

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Review Notices. Upon (i) receipt of a Review Notice from the Indenture Trustee and (ii) receipt of a list of Review Assets from the Servicer (which list will be delivered by the Servicer to the Asset Representations Reviewer within ten (10) Business Days of the Servicer’s receipt of a Review Notice)Trustee, the Asset Representations Reviewer will start a Review. Within ten (10) Business Days of its receipt of a Review Notice, the Servicer will provide a list of the Review Assets to the Asset Representations Reviewer and the Indenture Trustee. The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice and the related list of Review Assets is received by it. The Asset Representations Reviewer is not obligated to verify (i) whether the Indenture Trustee properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Assets provided by the Servicer.

Appears in 10 contracts

Samples: Asset Representations Review Agreement (BMW Vehicle Lease Trust 2017-1), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2017-1), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2016-2)

Review Notices. Upon (i) receipt of a Review Notice from the Indenture Trustee and (ii) receipt of a list of Review Assets from the Servicer (which list will be delivered by the Servicer to the Asset Representations Reviewer within ten [__] (10[__]) Business Days of the Servicer’s receipt of a Review Notice), the Asset Representations Reviewer will start a Review. The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice and the related list of Review Assets is received by it. The Asset Representations Reviewer is not obligated to verify (i) whether the Indenture Trustee properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Assets provided by the Servicer.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Financial Services Vehicle Trust), Asset Representations Review Agreement (Financial Services Vehicle Trust)

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Review Notices. Upon (i) receipt of a Review Notice from the Indenture Trustee and (ii) receipt of a list of Review Assets from the Servicer (which list will be delivered by the Servicer to the Asset Representations Reviewer within [ten (10) )] Business Days of the Servicer’s receipt of a Review Notice), the Asset Representations Reviewer will start a Review. The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice and the related list of Review Assets is received by it. The Asset Representations Reviewer is not obligated to verify (i) whether the Indenture Trustee properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Assets provided by the Servicer.

Appears in 1 contract

Samples: Asset Representations Review Agreement (BMW Fs Securities LLC)

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