Common use of Investor Action to Initiate an Asset Representations Review Clause in Contracts

Investor Action to Initiate an Asset Representations Review. (a) Within 90 days following the date on which the Servicer or the Seller, on behalf of the Trust, discloses the occurrence of a Delinquency Trigger pursuant to Section 14.01(a), Holders of Investor Certificates holding at least 5% of the aggregate unpaid principal amount of all outstanding Investor Certificates may submit a written petition to the Seller and the Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. For the avoidance of doubt, for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Servicer or the Seller, on behalf of the Trust, discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing.

Investor Action to Initiate an Asset Representations Review. (a) Within 90 days following the date on which the Servicer or the SellerTransferor, on behalf of the Trust, discloses the occurrence of a Delinquency Trigger pursuant to Section 14.01(asubsection 15.01(a), Holders of Investor Certificates holding at least 5% of the aggregate unpaid principal amount of all outstanding Investor Certificates may submit a written petition to the Seller Transferor and the Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. For the avoidance of doubt, for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Servicer or the SellerTransferor, on behalf of the Trust, discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing.

Investor Action to Initiate an Asset Representations Review. (a) Within 90 days following the date on which the Servicer or the SellerTransferor, on behalf of the Trust, discloses the occurrence of a Delinquency Trigger pursuant to Section subsection 14.01(a), Holders of Investor Certificates holding at least 5% of the aggregate unpaid principal amount of all outstanding Investor Certificates may submit a written petition to the Seller Transferor and the Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. For the avoidance of doubt, for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Servicer or the SellerTransferor, on behalf of the Trust, discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing.