Common use of Review Process Limitations Clause in Contracts

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 90 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)

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Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 28 contracts

Samples: Asset Representations Review Agreement (CNH Capital Receivables LLC), Asset Representations Review Agreement (CNH Equipment Trust 2021-B), Asset Representations Review Agreement (CNH Equipment Trust 2019-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, (ii) to determine which Receivables are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 13 contracts

Samples: Asset Representations Review Agreement (CNH Equipment Trust 2023-A), Asset Representations Review Agreement (CNH Equipment Trust 2022-C), Asset Representations Review Agreement (CNH Equipment Trust 2023-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible RepresentationsSubject Receivables, (vi) to determine the reason for the delinquency of any Review Subject Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable Subject Receivable, or the compliance by the Servicer with its covenants with respect to the servicing of such Review any Subject Receivable, or (vii) to establish cause, materiality materiality, or recourse for any failed Test as described in Section 3.03Test.

Appears in 8 contracts

Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 5 contracts

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

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, (ii) to determine which Receivables Leases are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible RepresentationsSubject Leases, (vi) to determine the reason for the delinquency of any Review ReceivableSubject Lease, the creditworthiness of any Obligor, the overall quality of any Review Receivable Subject Lease or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivableany Subject Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 5 contracts

Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a the Delinquency Trigger Event has occurred been met or exceeded or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 5 contracts

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

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2021-A Leases and 2021-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2021-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2021-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2018-B Leases and 2018-B Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2018-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2018-B), Review Agreement (Mercedes-Benz Auto Lease Trust 2018-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2019-A Leases and 2019-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2019-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2019-A), Review Agreement (Mercedes-Benz Auto Lease Trust 2019-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2018-A Leases and 2018-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2018-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2018-A), Review Agreement (Mercedes-Benz Auto Lease Trust 2018-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2023-A Leases and 2023-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2023-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Review Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2016-A Leases and 2016-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2016-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any Obligorobligor, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2016-A), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2016-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2020-A Leases and 2020-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2020-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2020-A), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2020-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to iv)to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (CNH Equipment Trust 2017-C), Asset Representations Review Agreement (CNH Equipment Trust 2017-C)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible RepresentationsSubject Receivables, (vi) to determine the reason for the delinquency of any Review Subject Receivable, the creditworthiness of any Obligor, the overall quality of any Review Receivable Subject Receivable, or the compliance by the Servicer with its covenants with respect to the servicing of such Review any Subject Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

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Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a the Delinquency Trigger Event has occurred been met or exceeded or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, (ii) to determine which Receivables Transaction Leases are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableTransaction Lease, the creditworthiness of any Closed-End Obligor, the overall quality of any Review Receivable Transaction Lease or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableTransaction Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (World Omni LT), Asset Representations Review Agreement (World Omni LT)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2016-B Leases and 2016-B Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2016-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any Obligorobligor, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2016-B), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2016-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2019-B Leases and 2019-B Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2019-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2019-B), Review Agreement (Mercedes-Benz Auto Lease Trust 2019-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2017-A Leases and 2017-A Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2017-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any Obligorobligor, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2017-A), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2017-A)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2021-B Leases and 2021-B Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2021-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Review Agreement (Mercedes-Benz Auto Lease Trust 2021-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible RepresentationsSubject Receivables, (vi) to determine the reason for the delinquency of any Review Subject Receivable, the creditworthiness of any Obligor, the overall quality of any Review Subject Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review any Subject Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables 2020-B Leases and 2020-B Leased Vehicles are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2020-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableAsset, the creditworthiness of any ObligorLessee, the overall quality of any Review Receivable Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableAsset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.

Appears in 2 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Review Agreement (Mercedes-Benz Auto Lease Trust 2020-B)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible RepresentationsSubject Receivables, (vi) to determine the reason for the delinquency of any Review Subject Receivable, the creditworthiness of any [Obligor], the overall quality of any Review Subject Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Subject Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a the Delinquency Trigger Event has occurred been met or exceeded or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables Transaction Leases are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review ReceivableTransaction Lease, the creditworthiness of any Closed-End Obligor, the overall quality of any Review Receivable Transaction Lease or the compliance by the Servicer with its covenants with respect to the servicing of such Review ReceivableTransaction Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni LT)

Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger Event has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations a Review under the Indenture, ; (ii) to determine which Receivables are subject to an Asset Representations a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Documents [Basic Documents] to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Receivable, the creditworthiness of any [Obligor], the overall quality of any Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Review Receivable, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.

Appears in 1 contract

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

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