Investor Action to Initiate an Asset Representations Review Sample Clauses

Investor Action to Initiate an Asset Representations Review. (a) Within 90 days following the date on which the Servicer or the Seller, on behalf of the Trust, discloses the occurrence of a Delinquency Trigger pursuant to Section 14.01(a), Holders of Investor Certificates holding at least 5% of the aggregate unpaid principal amount of all outstanding Investor Certificates may submit a written petition to the Seller and the Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. For the avoidance of doubt, for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Servicer or the Seller, on behalf of the Trust, discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing.
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Investor Action to Initiate an Asset Representations Review. (a) Within 90 days following the date on which the Servicer or the Transferor, on behalf of the Trust, discloses the occurrence of a Delinquency Trigger pursuant to subsection 15.01(a), Holders of Investor Certificates holding at least 5% of the aggregate 119 unpaid principal amount of all outstanding Investor Certificates as of the last day of the Monthly Period immediately preceding the filing of the distribution report on Form 10-D in which such Delinquency Trigger is disclosed may submit a written petition to the Transferor and the Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. Subject to Section 15.02(c), for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Servicer or the Transferor, on behalf of the Trust, discloses in the related distribution report on form 10-D that the Delinquency Trigger is continuing.
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Investor Action to Initiate an Asset Representations Review. Upon the Servicer’s receipt of written notice from the Indenture Trustee pursuant to subsection 14.06(b) of the Indenture that Noteholders have directed that an Asset Representations Review be undertaken, the Servicer shall promptly provide a written instruction to the Asset Representations Reviewer to commence an Asset Representations Review in accordance with the terms set forth in the Asset Representations Review Agreement. The Servicer shall take such other actions as set forth in the Asset Representations Review Agreement as are necessary to give effect to the terms of such agreement; provided, however, that, if the Indenture Trustee becomes the Successor Servicer, following receipt of such notice, the Indenture Trustee, as Successor Servicer, shall identify those Accounts and Receivables that are 60 days or more delinquent as Review Accounts and Review Receivables (each, as defined in the Asset Representations Review Agreement), respectively, together with additional Accounts or Receivables, if any, as directed by the Beneficiary, on behalf of the Issuer.
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Investor Action to Initiate an Asset Representations Review. Upon the Servicer’s receipt of written notice from the Indenture Trustee pursuant to subsection 14.06(b) of the Indenture that Noteholders have directed that an Asset Representations Review be undertaken, the Servicer shall promptly provide a written instruction to the Asset Representations Reviewer to commence an Asset Representations Review in accordance with the terms set forth in the Asset Representations Review Agreement. Table of Contents ARTICLE IX
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Related to Investor Action to Initiate an Asset Representations Review

  • Asset Representations Review The Seller shall (i) at all times while any Public Notes remain Outstanding, ensure that an Asset Representations Reviewer is appointed, (ii) provide the Asset Representations Reviewer with the Asset Representations Review Notice (to the extent a copy is received by the Seller) to the notices address set forth in the Asset Representations Review Agreement, and (iii) provide the Asset Representations Reviewer with reasonable access to the Seller’s offices and information databases upon the initiation of an Asset Representations Review as set forth in Section 7.6 of the Indenture.

  • Independence of the Asset Representations Reviewer The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Issuer, the Asset Representations Reviewer will have no authority to act for or represent the Issuer and will not be considered an agent of the Issuer. Nothing in this Agreement will make the Asset Representations Reviewer and the Issuer members of any partnership, joint venture or other separate entity or impose any liability as such on any of them.

  • Duties of the Asset Representations Reviewer Section 3.01 Review Scope 3 Section 3.02 Review Notices 4 Section 3.03 Review Materials 4 Section 3.04 Missing or Incomplete Review Materials 5 Section 3.05 The Asset Representations Review 5 Section 3.06 Review Period 5 Section 3.07 Review Report 5 Section 3.08 Completion of Review for Certain ARR Receivables 6 Section 3.09 Duplicative Test 6 Section 3.10 Termination of Review 6 Section 3.11 Review and Procedure Limitations 6 Section 3.12 Review Systems 7 Section 3.13 Representatives 7 Section 3.14 Dispute Resolution 7 Section 3.15 Records Retention 7

  • Asset Representations Reviewer Representative The Asset Representations Reviewer will designate one or more representatives who will be available to the Issuer and the Servicer during the performance of an Asset Review.

  • Audit of Asset Representations Reviewer The Asset Representations Reviewer will permit the Issuer and its authorized representatives to audit the Asset Representations Reviewer’s compliance with this Section 4.9 during the Asset Representations Reviewer’s normal business hours on reasonable advance notice to the Asset Representations Reviewer, and not more than once during any year unless circumstances necessitate additional audits. The Issuer agrees to make reasonable efforts to schedule any audit described in this Section 4.9 with the inspections described in Section 4.6. The Asset Representations Reviewer will also permit the Issuer and its authorized representatives during normal business hours on reasonable advance written notice to audit any service providers used by the Asset Representations Reviewer to fulfill the Asset Representations Reviewer’s obligations under this Agreement.

  • Engagement of Asset Representations Reviewer Servicer shall, at all times while any publicly-offered Series of Notes is Outstanding under the Indenture, ensure that an Asset Representations Reviewer has been engaged by Servicer and appointed by Issuer and if the Asset Representations Reviewer gives notice of its intent to resign or Servicer terminates the Asset Representation Reviewer pursuant to the terms of the Asset Representations Review Agreement or if a vacancy exists in the office of Asset Representations Reviewer for any reason (the Asset Representations Reviewer in such event being referred to herein as the retiring Asset Representations Reviewer), Servicer shall promptly appoint and designate a successor Asset Representations Reviewer in accordance with the provisions of the Asset Representations Review Agreement.

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