Review Assets definition

Review Assets means those Receivables identified by the Servicer pursuant to Section 3.16 of the Sale and Servicing Agreement as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice according to Section 3.01 of the Asset Representations Review Agreement.

Review Assets has the meaning stated in the Asset Representations Review Agreement and Section 3.10(c) of the Servicing Supplement.

Review Assets means those 2017-A Leases and 2017-A Leased Vehicles identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice according to Section 3.01.

Examples of Review Assets in a sentence

• Once a Review Notice has been issued, the Servicer will provide the list of Review Assets to the Asset Representations Reviewer within ten Business Days.

• 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.

• On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Asset, and the Review of such Review Assets will be considered complete (a “Test Complete”).

• Review Notices and Identification of Review Assets 3 Section 3.02.

• The Confidential Information will not, without the prior written consent of the Issuer and the Servicer, be disclosed or used by any Information Recipient other than for the purposes of performing Reviews of Review Assets or performing its obligations under this Agreement.

• 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.

• Following the delivery of the list of the Review Assets and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Asset has been paid in full by the related Lessee or purchased from the Issuer in accordance with the terms of the 2024-A Servicing Agreement.

• The Indenture Trustee may select a vote agent that is experienced in the administration of Noteholder votes and/or consent solicitations to conduct and administer any Noteholder vote about whether to direct the Asset Representations Reviewer to conduct a Review of the Review Assets and, so long as the Indenture Trustee selects such vote agent with due care, the Indenture Trustee will not be liable for any actions or inactions of such vote agent.

More Definitions of Review Assets

Review Assets means those 2016-1 Leases identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice.

Review Assets means those 20[__]-[__] Leases identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice.

Review Assets means those 2017-1 Leases identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice. “Review Fee” has the meaning stated in Section 4.01(b). “Review Notice” means a notice delivered to the Asset Representations Reviewer pursuant to Section 12.02 of the Indenture. “Review Materials” means the applicable documents, data, and other information listed in Exhibit A. “Review Report” means, with respect to a Review, the related report prepared by the Asset Representations Reviewer in accordance with the terms of Section 3.08. “Servicing Supplement” means the 2017-1 Servicing Supplement, dated as of the Closing Date, among the Servicer, Financial Services Vehicle Trust and BMW Manufacturing L.P., as the same may be amended, supplemented or modified from time to time. “Sponsor” means BMW Financial Services NA, LLC. “Test Fail” has the meaning stated in Section 3.05. “Test Pass” has the meaning stated in Section 3.05. “Tests” means, with respect to any 2017-1 Lease or 2017-1 Vehicle, the procedures listed in Exhibit A with respect thereto. “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between BMW Auto Leasing LLC and the Owner Trustee, as the same may be amended, supplemented or modified from time to time. “Underwriters” means Barclays Capital Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., BNP Paribas Securities Corp. and MUFG Securities Americas Inc. 2 ARTICLE II.

Review Assets means those 2017-1 Leases identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice. “Review Fee” has the meaning stated in Section 4.01(b). “Review Notice” means a notice delivered to the Asset Representations Reviewer pursuant to Section 12.02 of the Indenture. “Review Materials” means the applicable documents, data, and other information listed in Exhibit A. “Review Report” means, with respect to a Review, the related report prepared by the Asset Representations Reviewer in accordance with the terms of Section 3.08. “Servicing Supplement” means the 2017-1 Servicing Supplement, dated as of the Closing Date, among the Servicer, Financial Services Vehicle Trust and BMW Manufacturing L.P., as the same may be amended, supplemented or modified from time to time. “Sponsor” means BMW Financial Services NA, LLC. “Test Fail” has the meaning stated in Section 3.05. “Test Pass” has the meaning stated in Section 3.05. “Tests” means, with respect to any 2017-1 Lease or 2017-1 Vehicle, the procedures listed in Exhibit A with respect thereto. “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between BMW Auto Leasing LLC and the Owner Trustee, as the same may be amended, supplemented or modified from time to time. “Underwriters” means Barclays Capital Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., BNP Paribas Securities Corp. and MUFG Securities Americas Inc. 2 ARTICLE II.