Common use of Right to Audit Clause in Contracts

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.

Appears in 99 contracts

Samples: Asset Representations Review Agreement (GMF Leasing LLC), Asset Representations Review Agreement (GM Financial Automobile Leasing Trust 2018-1), Asset Representations Review Agreement (GM Financial Automobile Leasing Trust 2018-3), Asset Representations Review Agreement (GM Financial Consumer Automobile Receivables Trust 2021-1), Asset Representations Review Agreement (GM Financial Automobile Leasing Trust 2018-2)

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business daysten (10) Business Days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.

Appears in 26 contracts

Samples: Asset Representations Review Agreement (AmeriCredit Automobile Receivables Trust 2022-2), Asset Representations Review Agreement (AmeriCredit Automobile Receivables Trust 2021-3), Asset Representations Review Agreement (Exeter Automobile Receivables Trust 2022-1), Asset Representations Review Agreement (AmeriCredit Automobile Receivables Trust 2021-3), Asset Representations Review Agreement (GM Financial Consumer Automobile Receivables Trust 2023-4)

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer the Trustee may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business days’ notice. Notwithstanding the foregoing, the parties agree that Servicer the Trustee may conduct an audit at any time, in the event of (i) audits required by Servicerthe Trustee’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer the Trustee reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicerthe Trustee’s business.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (GNMAG Asset Backed Securitizations, LLC), Asset Representations Review Agreement (GNMAG Asset Backed Securitizations, LLC)

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business days[ten (10)] Business Days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Afs Sensub Corp.)

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 ten (10) business days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Afs Sensub Corp.)

Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with this Agreement upon at least 10 business daysten (10) Business Days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem or issue that poses a threat to Servicer’s business.Section 4.7.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Exeter Automobile Receivables Trust 2022-4)