Common use of Removal of Asset Representations Reviewer Clause in Contracts

Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.

Appears in 46 contracts

Samples: Asset Representations Review Agreement (BMW Vehicle Lease Trust 2024-2), Asset Representations Review Agreement (BMW Vehicle Lease Trust 2024-2), Asset Representations Review Agreement (BMW Vehicle Owner Trust 2024-A)

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Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this ARR Agreement; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer Administrator may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.

Appears in 35 contracts

Samples: Asset Representations Review Agreement (Deere John Capital Corp), Asset Representations Review Agreement (John Deere Receivables LLC), Asset Representations Review Agreement (Deere John Capital Corp)

Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this ARR Agreement; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer Administrator may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.. ​

Appears in 9 contracts

Samples: Asset Representations Review Agreement (John Deere Owner Trust 2024-C), Asset Representations Review Agreement (John Deere Owner Trust 2024-B), Asset Representations Review Agreement (John Deere Owner Trust 2024-B)

Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: : (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; ; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.. Section 6.02

Appears in 1 contract

Samples: Asset Representations Review Agreement

Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.022.01; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this AgreementARR Agreement ; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer Administrator may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.

Appears in 1 contract

Samples: Asset Representations Review Agreement (John Deere Receivables, Inc.)

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Removal of Asset Representations Reviewer. If any one of the following events ("Disqualification Events") shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.

Appears in 1 contract

Samples: Asset Representations Review Agreement (BMW Fs Securities LLC)

Removal of Asset Representations Reviewer. If any one of the following events (“Disqualification Events”) shall occur and be continuing: (a) the Asset Representations Reviewer no longer meets the eligibility requirements in Section 2.02; (b) any failure by the Asset Representations Reviewer duly to observe or perform in any material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this AgreementARR Agreement ; or (c) an Insolvency Event occurs with respect to the Asset Representations Reviewer; then, the Issuer Administrator may, but shall not be required to, remove the Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02.

Appears in 1 contract

Samples: Asset Representations Review Agreement (John Deere Receivables, Inc.)

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