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 Review Accounts and the balance of the Review Receivables, and before the delivery of any Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if the Review Receivables with respect to any Review Account have been paid in full by the related Obligor or repurchased by the Transferor or purchased by the Servicer according to the terms of the Pooling and Servicing Agreement. Upon receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivables and related Review Accounts and the Review of such Review Receivables and related Review Accounts will be considered complete (a “Test Complete”). In this case, each Review Report will indicate a Test Complete for such Review Receivables and related Review Accounts and the related reason.

Appears in 7 contracts

Samples: Asset Representations Review Agreement (Cabela's Master Credit Card Trust), Receivables Purchase Agreement (BA Credit Card Trust), Pooling and Servicing Agreement (Capital One Master Trust)

AutoNDA by SimpleDocs

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

Appears in 2 contracts

Samples: Asset Representations Review Agreement (CarMax Auto Owner Trust 2016-1), Asset Representations Review Agreement (CarMax Auto Owner Trust 2016-1)

Completion of Review for Certain Review Receivables. Following the delivery of the list of Review Accounts and the balance of the Review Receivables, Receivables and before the delivery of any the Review Report by the Asset Representations Reviewer, the Servicer Issuing Entity or the Administrator, on the Issuing Entity’s behalf, may notify the Asset Representations Reviewer if the a Review Receivables with respect to any Review Account have been Receivable is paid in full by the related Obligor or otherwise satisfied or repurchased by from the Transferor or purchased by Issuing Entity and the Servicer according to Grantor Trust in accordance with the terms of the Pooling and Servicing AgreementTransaction Documents. Upon On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivables and the related Review Accounts Receivable, and the Asset Representations Review of such Review Receivables and related Review Accounts Receivable will be considered complete (a “Test Complete”). In this case, each the related Review Report will indicate a Test Complete for such Review Receivables and related Review Accounts Receivable and the related reason.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P3), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P3)

Completion of Review for Certain Review Receivables. Following the delivery of the list of Review Accounts and the balance of the Review Receivables, and before the delivery of any Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if the Review Receivables with respect to any Review Account have been paid in full by the related Obligor or repurchased by the Transferor or purchased by the Servicer or Transferor according to the terms of the Pooling and Servicing Agreementapplicable Transaction Document. Upon receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivables and related Review Accounts and the Review of such Review Receivables and related Review Accounts will be considered complete (a “Test Complete”). In this case, each Review Report will indicate a Test Complete for such Review Receivables and related Review Accounts and the related reason.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (WF Card Funding LLC), Asset Representations Review Agreement (WF Card Issuance Trust)

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

Appears in 1 contract

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

AutoNDA by SimpleDocs

Completion of Review for Certain Review Receivables. Following the delivery of the list of Review Accounts and the balance of the Review Receivables, and before the delivery of any Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if the Review Receivables with respect to any Review Account have been paid in full by the related Obligor or repurchased by the Transferor Depositor or purchased by the Servicer according to the terms of the Pooling and Servicing Agreement. Upon receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivables and related Review Accounts and the Review of such Review Receivables and related Review Accounts will be considered complete (a “Test Complete”). In this case, each Review Report will indicate a Test Complete for such Review Receivables and related Review Accounts and the related reason.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Royal Bank of Canada)

Completion of Review for Certain Review Receivables. Following the delivery of the list of Review Accounts and the balance of the Review Receivables, Receivables and before the delivery of any the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if the a Review Receivables with respect to any Review Account have been Receivable is paid in full by the related Obligor or otherwise satisfied[, substituted] or repurchased by from the Transferor Issuing Entity [and the Grantor Trust] in accordance with Sections 3.02(b) or purchased by the Servicer according to the terms 4.07 of the Pooling Sale and Servicing Agreement. Upon On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivables and the related Review Accounts Receivable, and the Review of such Review Receivables and related Review Accounts will be considered complete (a “Test Complete”). In this case, each the related Review Report will indicate a Test Complete for such Review Receivables and related Review Accounts Receivable and the related reason.

Appears in 1 contract

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

Time is Money Join Law Insider Premium to draft better contracts faster.