Common use of Completion of Review for Certain Review Receivables Clause in Contracts

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Issuing Entity or the Administrator, on the Issuing Entity’s behalf, may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or otherwise satisfied or repurchased from the Issuing Entity and the Grantor Trust in accordance with Section 3.1(d) of the Receivables Purchase Agreement, Section 3.1(c) of the Receivables Transfer Agreement or 3.2(a) of the Receivables Contribution Agreement, as applicable. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Asset Representations Review of such Review Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

Completion of Review for Certain Review Receivables. Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Issuing Entity or the Administrator, on the Issuing [Administrator][Issuing Entity’s behalf, ] may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or otherwise satisfied or repurchased from the Issuing Entity [and the Grantor Trust Trust] in accordance with [Section 3.1(d) of the Receivables Purchase Agreement, Agreement or Section 3.1(c) of the Receivables Transfer Agreement [or 3.2(a3.2(c) of the Receivables Contribution Agreement, as applicable]]. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Asset Representations Review of such Review Receivable will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.