Common use of Completion of Review for Certain Review Receivables Clause in Contracts

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with the terms of the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 68 contracts

Samples: Asset Representations Review Agreement (Toyota Auto Receivables 2024-B Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2019-a Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2018-a Owner Trust)

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Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased otherwise satisfied or repurchased from the Issuer in accordance with the terms Section 3.5 of the Basic DocumentsReceivables Purchase Agreement or Sections 2.4 or 3.7 of the Sale and Servicing Agreement. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Asset Representations Review of such Review Receivables Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 66 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 Funding LLC)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer Issuing Entity in accordance with the terms of the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 43 contracts

Samples: Asset Representations Review Agreement (CNH Equipment Trust 2020-A), Asset Representations Review Agreement (CNH Equipment Trust 2019-C), Asset Representations Review Agreement (CNH Equipment Trust 2020-A)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by the terms of Sponsor, the Basic Depositor or the Servicer according to the Transaction Documents. On receipt of If such noticea notice is received, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivable and the Review of such Review Receivables the Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report Asset Representations Reviewer will indicate report a Test Complete for such the Receivable on the Review Receivable Report and the related reason.

Appears in 32 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2016-B), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2017-B)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by the terms of Sponsor, the Basic Depositor or the Servicer according to the Transaction Documents. On receipt of If such noticea notice is received, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivable and the Review of such Review Receivables the Receivable will be considered complete (a "Test Complete"). In this case, the related Review Report Asset Representations Reviewer will indicate report a Test Complete for such the Receivable on the Review Receivable Report and the related reason.

Appears in 11 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2022-C), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2023-C), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2023-A)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by CRB, the terms of Depositor or the Servicer according to the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivables and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable the Receivables and the related reason.

Appears in 5 contracts

Samples: Asset Representations Review Agreement (California Republic Auto Receivables Trust 2016-1), Asset Representations Review Agreement (California Republic Auto Receivables Trust 2016-1), Asset Representations Review Agreement (California Republic Funding LLC)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by the terms of Sponsor, the Basic Depositor or the Servicer according to the Transaction Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivables and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable the Receivables and the related reason.

Appears in 5 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor Dealer or purchased or reassigned from the Issuer in accordance with by the terms of Sponsor, the Basic Depositors or the Servicer according to the Transaction Documents. On receipt of such noticeIf notice is received, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivable and the Review of such Review Receivables the Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report Asset Representations Reviewer will indicate report a Test Complete for such the Receivable on the Review Receivable Report and the related reason.

Appears in 5 contracts

Samples: Asset Representations Review Agreement (Ford Credit Floorplan LLC), Asset Representations Review Agreement (Ford Credit Floorplan LLC), Asset Representations Review Agreement (Ford Credit Floorplan Corp)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased otherwise satisfied or repurchased from the Issuer Issuing Entity in accordance with the terms Sections 3.02(b) or 4.07 of the Basic DocumentsSale and Servicing Agreement. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A), Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by the terms of Sponsor, the Basic Depositor or the Servicer according to the Transaction Documents. On receipt of such noticeIf notice is received, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivable and the Review of such Review Receivables the Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report Asset Representations Reviewer will indicate report a Test Complete for such the Receivable on the Review Receivable Report and the related reason.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2016-A), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2016-A)

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Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by Mechanics Bank, the terms of Depositor or the Servicer according to the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivables and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable the Receivables and the related reason.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (California Republic Auto Receivables Trust 2017-1), Asset Representations Review Agreement (California Republic Auto Receivables Trust 2017-1)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased otherwise satisfied or repurchased from the Issuer in accordance with the terms Section [3.5] of the Basic DocumentsReceivables Purchase Agreement or Sections [2.4] or [3.7] of the Sale and Servicing Agreement. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Asset Representations Review of such Review Receivables Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 2 contracts

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

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with the terms of the [Basic Documents]. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 1 contract

Samples: Asset Representations Review Agreement (CNH Capital Receivables LLC)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased otherwise satisfied or repurchased from the Issuer in accordance with the terms Sections 3.02(b) or 4.07 of the Basic DocumentsSale and Servicing Agreement. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni Auto Receivables LLC)

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with by the terms of Sponsor, the Depositor or the Servicer according to the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, such Receivables and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable the Receivables and the related reason.

Appears in 1 contract

Samples: Asset Representations Review Agreement (CNH Capital Receivables LLC)

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