Common use of Investigation of Breach Clause in Contracts

Investigation of Breach. If a Responsible Officer of the Seller (i) has knowledge of a breach of a representation or warranty made in Section 3.03, (ii) receives notice from the Purchaser, the Issuer, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.03, (iii) receives a Repurchase Request from the Owner Trustee, a Note Owner, a Noteholder or the Indenture Trustee for a Review Receivable or (iv) receives a Review Report that indicates a Test Fail for a Receivable, then, in each case, the Seller will investigate the Receivable to confirm the breach and determine if the breach has a material adverse effect on the Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred, whether any such breach has a material adverse effect on the related Receivable, or whether any Receivable is required to be repurchased under this Section.

Investigation of Breach. If a Responsible Officer of the Seller (i) has knowledge of a breach of a representation or warranty made in Section 3.03, (ii) receives notice from the Purchaser, the Issuer, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.03, (iii) receives a Repurchase Request from the Owner Trustee, a Note Owner, a Noteholder or the Indenture Trustee for a Review Receivable or (iv) receives a Review Report that indicates a Test Fail for a Receivable, then, in each case, the Seller will investigate the Receivable to confirm the breach and determine if the breach has a material adverse effect on the Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred, whether any such breach has a material adverse effect on the related Receivable, occurred or whether any Receivable is required to be repurchased under this Section.

Investigation of Breach. If a Responsible Officer of the Seller (i) has knowledge of a breach of a representation or warranty made in Section 3.03, (ii) receives notice from the Purchaser, the Issuer, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.03, (iii) receives a Repurchase Request from the Owner Trustee, a Note Owner, a Noteholder Trustee or the Indenture Trustee for a Review Receivable or (iv) receives a Review Report that indicates a Test Fail for a Receivable, then, in each case, the Seller will investigate the Receivable to confirm the breach and determine if the breach has a material adverse effect on the Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred, whether any such breach has a material adverse effect on the related Receivable, occurred or whether any Receivable is required to be repurchased under this Section.

Investigation of Breach. If a Responsible Officer of the either the Seller or the Depositor (i) has knowledge of a breach of a representation or warranty made in Section 3.03Sections 3.01 or 3.02, (ii) receives notice from the Purchaser, the Issuer, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.03Sections 3.01 or 3.02, (iii) receives a Repurchase Request from the Owner Trustee, a Note Owner, a Noteholder Trustee or the Indenture Trustee for a Review Receivable or (iv) receives a Review Report that indicates a Test Fail for a Receivable, then, in each case, the Seller Depositor will investigate the Receivable to confirm the breach and determine if the breach has a material adverse effect on the Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred, whether any such breach has a material adverse effect on the related Receivable, occurred or whether any Receivable is required to be repurchased under this Section.