Reviewable definition
Examples of Reviewable in a sentence
Upon completion of each Test for each Reviewable Receivable, the Asset Representations Reviewer shall record a finding based on the issues discovered.
Upon receipt of the Required Documents, the Asset Representations Reviewer shall complete an initial document inventory to verify there are no systemic documentation errors, including but not limited to consistently missing or incomplete information in each Reviewable Receivable’s file, even though there may still be instances where certain pieces of information for an individual Reviewable Receivable are missing or incomplete.
For the Reviewable Receivables, the Sponsor shall provide the Asset Representations Reviewer with the documents (the “Required Documents”) identified in the Agreed Upon Procedures as set forth on Attachment 1 (the “AUPs”) for each representation test (collectively, the “Tests”).
The Asset Representations Reviewer shall complete the Asset Representations Review of each Reviewable Receivable only using documentation that is made available by or on behalf of the Sponsor.
For each Reviewable Receivable, the Asset Representations Reviewer shall perform the Tests, as outlined in the AUPs and described in Attachment 1.
Based on the AUPs, the Asset Representations Reviewer shall review the Required Documents to determine whether, for each Reviewable Receivable, (a) there was evidence that the applicable Test for such Reviewable Receivable was satisfied, (b) there was evidence that the applicable Test for such Reviewable Receivable was not satisfied or (c) the Test could not be completed as a result of missing or insufficient Required Documents for a Reviewable Receivable.
Within sixty (60) days of the delivery of an Asset Representations Review Notice, the Sponsor shall provide, or cause to be provided, the Asset Representations Reviewer with the Required Documents for all of the Reviewable Receivables.
The Asset Representations Reviewer shall complete the Asset Representations Review of each Reviewable Receivable within sixty (60) days of receiving the Required Documents.
On receipt of such notice, the Asset Representations Reviewer shall terminate all Tests of such Reviewable Receivable and the Asset Representations Reviewer file review staff shall categorize the results of all Tests of the related Reviewable Receivable as “Satisfied Test” (as defined below).
Following the delivery of the list of Reviewable Receivables and before the delivery of a Preliminary Report or the Final Report by the Asset Representations Reviewer, the Servicer or the Sponsor may notify the Asset Representations Reviewer if a Reviewable Receivable is paid in full, substituted or repurchased by the Sponsor, the Depositor or the Servicer pursuant to Section 2.07 of the Servicing Agreement, Section 2.04(a) of the Trust Sale Agreement or Section 4.04 of the Pooling Agreement.