Test Pass definition

Test Pass has the meaning stated in Section 3.4(a).

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Test Pass has the meaning stated in Section 3.03(a) of the Asset Representations Review Agreement.

Test Pass has the meaning specified in Section 4.

Examples of Test Pass in a sentence

The Asset Representations Reviewer will only be required to perform the testing procedures listed under “Tests” in Schedule A, and will have no obligation to perform additional procedures on any Subject Lease or to provide any information other than a Review Report indicating for each Subject Lease whether there was a Test Pass or a Test Fail for each Test, or whether the Subject Lease was a Test Complete and the related reason.
Within five (5) Business Days after the end of the applicable Asset Representations Review period under Section 3.03(b), the Asset Representations Reviewer will deliver to the Issuer, the Grantor Trust, the Administrator, the Servicer, the Depositor and the Indenture Trustee a report indicating for each Review Receivable whether there was a Test Pass, Test Fail or Test Complete for each related Test (a “Review Report”).

More Definitions of Test Pass

Test Pass has the meaning stated in Section 3.03(a). 2 Representations Review Agreement

Test Pass has the meaning stated in Section 3.4(a). 2 (NALT 2026-A Asset Representations Review Agreement)

Test Pass has the meaning set forth in Section 3.5. Table of Contents

Test Pass has the meaning stated in Section 3.05. “Tests” means, with respect to any 2017-1 Lease or 2017-1 Vehicle, the procedures listed in Exhibit A with respect thereto. “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between BMW Auto Leasing LLC and the Owner Trustee, as the same may be amended, supplemented or modified from time to time. “Underwriters” means Barclays Capital Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., BNP Paribas Securities Corp. and MUFG Securities Americas Inc. 2 ARTICLE II.

Test Pass has the meaning stated in Section 2.7.