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

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 Administrator, the Issuing Entity, the Grantor Trust, the Sponsor, 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”).
Within 5 (five) business days following the applicable Review period described in Section 3.06, the Asset Representations Reviewer will provide the Issuing Entity, Sponsor, Depositor, Servicer and Indenture Trustee with a Review Report providing each Test result (i.e., Test Pass, Test Fail or Test Complete) for each ARR Receivable.

More Definitions of Test Pass

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

Test Pass has the meaning stated in Section 2.7.

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 3.03(a). 2 Representations Review Agreement

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