Common use of Notice to the Rating Agencies Clause in Contracts

Notice to the Rating Agencies. The Administrator shall give notice to each Rating Agency of (i) any resignation or removal of the Owner Trustee pursuant to Section 6.10 of the Trust Agreement, (ii) any resignation or removal of the Grantor Trust Trustee pursuant to Section 6.10 of the Grantor Trust Agreement, (iii) any amendment to the Servicing Agreement pursuant to Section 7.1 of the Servicing Agreement, (iv) any Event of Default, Servicer CRVNA 2022-P3 Administration Agreement Termination Event, each default on the part of the Servicer of its obligations under the Servicing Agreement, each default on the part of the Depositor of its obligations under the Receivables Transfer Agreement and each default on the part of the Seller of its obligations under the Receivables Purchase Agreement of which it has been provided notice pursuant to Section 3.19 of the Indenture, (v) any supplemental indenture pursuant to Section 9.1 or 9.2 of the Indenture (vi) any redemption of the Notes pursuant to Section 10.1 of the Indenture; (vii) any amendment to the Collateral Custodian Agreement pursuant to Section 4.1 of the Collateral Custodian Agreement, (viii) any amendment to the Backup Servicing Agreement pursuant to Section 19 of the Backup Servicing Agreement, (ix) any merger or consolidation of the Grantor Trust Trustee pursuant to Section 6.11 of the Grantor Trust Agreement; which notice shall be given in the case of each of clauses (i) through (ix) promptly upon the Administrator being notified thereof by the Owner Trustee, the Grantor Trust Trustee, the Indenture Trustee or the Servicer, as applicable. If Carvana is no longer the Administrator, the successor administrator shall provide any required Rating Agency notices under this Section 2(b) to the Depositor, who promptly shall provide such notices to the Rating Agencies.

Notice to the Rating Agencies. The Administrator shall give notice to each Rating Agency of (i) any resignation or removal of the Owner Trustee pursuant to Section 6.10 of the Trust Agreement, (ii) any resignation or removal of the Grantor Trust Trustee pursuant to Section 6.10 of the Grantor Trust Agreement, (iii) any amendment to the Servicing Agreement pursuant to Section 7.1 of the Servicing Agreement, (iv) any Event of Default, Servicer CRVNA 2022-P3 Administration Agreement Termination Event, each default on the part of the Servicer of its obligations under the Servicing Agreement, each default on the part of the Depositor of its obligations under the Receivables Transfer Agreement and each default on the part of the Seller of its obligations under the Receivables Purchase Agreement of which it has been provided notice pursuant to Section 3.19 of the Indenture, (v) any supplemental indenture pursuant to Section 9.1 or 9.2 of the Indenture (vi) any redemption of the Notes pursuant to Section 10.1 of the Indenture; (vii) any amendment to the Collateral Custodian Agreement pursuant to Section 4.1 of the Collateral Custodian Agreement, (viii) any amendment to the Backup Servicing Agreement pursuant to Section 19 of the Backup Servicing Agreement, (ix) any merger or consolidation of the Grantor Trust Trustee pursuant to Section 6.11 of the Grantor Trust Agreement; which notice shall be given in the case of each of clauses (i) through (ix) promptly upon the Administrator being notified thereof by the Owner Trustee, the Grantor Trust Trustee, the Indenture Trustee or the Servicer, as applicable. If Carvana is no longer the Administrator, the successor administrator shall provide any required Rating Agency notices under this Section 2(b) to the Depositor, who promptly shall provide such notices to the Rating Agencies.