Common use of Asset Representations Review Notices and Identification of Review Receivables Clause in Contracts

Asset Representations Review Notices and Identification of Review Receivables. On receipt of an Asset Representations Review Notice from the Seller according to Section 5.7 of the Receivables Purchase Agreement, the Asset Representations Reviewer will start an Asset Representations Review. The Servicer will provide the list of Review Receivables to the Asset Representations Reviewer promptly upon receipt of the Asset Representations Review Notice. The Asset Representations Reviewer will not be obligated to start, and will not start, an Asset Representations Review until an Asset Representations Review Notice and the related list of Review Receivables is received. The Asset Representations Reviewer is not obligated to verify (i) whether the conditions to the initiation of the Asset Representations Review and the issuance of an Asset Representations Review Notice described in Section 7.6 of the Indenture were satisfied or (ii) the accuracy or completeness of the list of Review Receivables provided by the Servicer.

Appears in 63 contracts

Samples: Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-2), Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-1)

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Asset Representations Review Notices and Identification of Review Receivables. On receipt of an Asset Representations Review Notice from the Seller Indenture Trustee according to Section 5.7 12.2(d) of the Receivables Purchase AgreementIndenture, the Asset Representations Reviewer will start an Asset Representations Review. The Servicer Servicer, at the direction of the Issuing Entity, will provide the list of Review Receivables to the Asset Representations Reviewer promptly upon within 20 Business Days of receipt of the Asset Representations Review Notice. The Asset Representations Reviewer will not be obligated to start, and will not start, an Asset Representations Review until an Asset Representations Review Notice and the related list of Review Receivables is received. The Asset Representations Reviewer is not obligated to verify (i) whether the conditions to the initiation of the Asset Representations Review and the issuance of an Asset Representations Review Notice described in Section 7.6 12.2 of the Indenture were satisfied or (ii) the accuracy or completeness of the list of Review Receivables provided by the Servicer, at the direction of the Issuing Entity.

Appears in 21 contracts

Samples: Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P1)

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Asset Representations Review Notices and Identification of Review Receivables. On receipt of an Asset Representations Review Notice from the Seller according to Section 5.7 [5.7] of the Receivables Purchase Agreement, the Asset Representations Reviewer will start an Asset Representations Review. The Servicer will provide the list of Review Receivables to the Asset Representations Reviewer promptly upon receipt of the Asset Representations Review Notice. The Asset Representations Reviewer will not be obligated to start, and will not start, an Asset Representations Review until an Asset Representations Review Notice and the related list of Review Receivables is received. The Asset Representations Reviewer is not obligated to verify (i) whether the conditions to the initiation of the Asset Representations Review and the issuance of an Asset Representations Review Notice described in Section 7.6 [7.6] of the Indenture were satisfied or (ii) the accuracy or completeness of the list of Review Receivables provided by the Servicer.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (Carmax Auto Funding LLC)

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