Common use of Review Fee Clause in Contracts

Review Fee. Following the completion of an Asset Representations Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”). However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Date to be reimbursed on such final Distribution Date.

Appears in 69 contracts

Samples: Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-2), Asset Representations Review Agreement (Carmax Auto Funding LLC)

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Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to in accordance with Section 3.043.07, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, Issuing Entity shall pay the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 for each Review ARR Receivable for which the Asset Representations Review a Test was started completed (the “Review Fee”)) in accordance with the priority of payments set forth in Section 5.04(b) of the Sale and Servicing Agreement or Section 5.04(b) of the Indenture, as applicable. However, no Review Fee will be charged for any Review ARR Receivable (i) which was included in a prior Review, (ii) Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied 3.10 or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under in accordance with Section 3.02(b)3.04. If all or a portion of any Review Fee due and payable to the Asset Representations Reviewer on a Payment Date is not paid to the Asset Representations Reviewer on such Payment Date, then the Servicer shall pay such unpaid portion within 30 days of receipt of a detailed written invoice therefor. However, if an Asset Representations a Review is terminated according to Section 3.03(e)3.10, the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days business days before the final Distribution Date Payment Date. For the avoidance of doubt, the aggregate limit on the Review Fee specified in 5.04(b)(iii) of the Sale and Servicing Agreement shall not apply to be reimbursed on such final Distribution Datepayments made by the Servicer to the Asset Representations Reviewer pursuant to this Section 4.01(b).

Appears in 26 contracts

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

Review Fee. Following the completion of an Asset Representations Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer Issuing Entity and the Servicer Sponsor of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer Issuing Entity of $200 for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”). If the detailed invoice is submitted on or before the first day of a month, the Review Fee will be paid by the Issuing Entity pursuant to the priority of payments described in Section 2.7 of the Indenture, starting on or before the Distribution Date in that month. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer Issuing Entity and the Servicer Sponsor for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Date to be reimbursed on such final Distribution Date.

Appears in 21 contracts

Samples: Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P1)

Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to in accordance with Section 3.043.07, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, Issuing Entity shall pay the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 for each Review ARR Receivable for which the Asset Representations Review a Test was started completed (the “Review Fee”)) in accordance with the priority of payments set forth in Section 5.04(b) of the Sale and Servicing Agreement or Section 5.04(b) of the Indenture, as applicable. However, no Review Fee will be charged for any Review ARR Receivable (i) which was included in a prior Review, (ii) Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied 3.10 or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under in accordance with Section 3.02(b)3.04. If all or a portion of any Review Fee due and payable to the Asset Representations Reviewer on a Payment Date is not paid to the Asset Representations Reviewer on such Payment Date, then the Servicer shall pay such unpaid portion within 30 days of receipt of a detailed written invoice therefor. However, if an Asset Representations a Review is terminated according to Section 3.03(e)3.10, the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days business days before the final Distribution Date Payment Date. For the avoidance of doubt, the aggregate limit on the Review Fee specified in 5.04(b)(iii) of the Sale and Servicing Agreement shall not apply to be reimbursed on such final Distribution Datepayments made by the Servicer to the Asset Representations Reviewer pursuant to this Section 4.01(b).

Appears in 14 contracts

Samples: Asset Representations Review Agreement (John Deere Owner Trust 2022), Asset Representations Review Agreement (John Deere Owner Trust 2022), Asset Representations Review Agreement (John Deere Owner Trust 2021-B)

Review Fee. Following the completion of an Asset Representations Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer Issuing Entity and the Servicer Sponsor of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer Issuing Entity of $200 for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”). If the detailed invoice is submitted on or before the first day of a month, the Review Fee will be paid by the Issuing Entity pursuant to the priority of payments described in Section 2.7 of the Indenture, starting on or before the Distribution Date in that month. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer Issuing Entity and the Servicer Sponsor for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Date to be reimbursed on such final Distribution Date.

Appears in 4 contracts

Samples: Asset Representations Review Agreement (Carvana Auto Receivables Trust 2024-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2024-P2), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P3)

Review Fee. Following the completion of an Asset Representations Review and the delivery to the Indenture Trustee, the Issuer, the Sponsor and the Servicer of the related Review Report pursuant to Section 3.04Report, or the termination of an Asset Representations Review according to in accordance with Section 3.03(e3.04(f), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of [$200 [•] for each Review Subject Receivable for which the Asset Representations Review was started started] [$[•] per hour] [insert any other rate agreed upon by the Asset Representations Reviewer and the Servicer] (the “Review Fee”), to be paid as agreed in Section 4.03(c). However, no Review Fee will be charged for any Review Receivable (i) which was included Tests that were performed in a prior Review, (ii) Asset Representations Review or for any Asset Representations Review in which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to in accordance with Section 3.03(e3.04(f), (iii) for which no Tests were completed prior . The Servicer will pay the Review Fee to the Asset Representations Reviewer being notified in accordance with the terms of the Review Receivable being paid in full by detailed invoice from the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b)Asset Representations Reviewer. However, if If an Asset Representations Review is terminated according to in accordance with Section 3.03(e3.04(f), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Asset Representations Review no later than ten (10) five Business Days before the final Distribution Payment Date in order to be reimbursed on such no later than the final Distribution Payment Date.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Usaa Acceptance LLC), Asset Representations Review Agreement (Usaa Acceptance LLC)

Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations a Review according to Section 3.03(e), and the delivery to the Issuer Issuing Entity and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”)) to be paid by the Servicer within 30 days upon receipt of such invoice. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller World Oxxx as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations a Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer Issuing Entity and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Payment Date to be reimbursed on such final Distribution Payment Date.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A), Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A)

Review Fee. Following the completion of an Asset Representations Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 [____] for each [Review Receivable Receivable][hour spent reviewing the Review Receivables] for which the Asset Representations Review was started (the “Review Fee”). However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Date to be reimbursed on such final Distribution Date.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (Carmax Auto Funding LLC)

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Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations a Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 [____] for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”)) to be paid by [the Servicer] within [30] days upon receipt of such invoice. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller World Oxxx as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations a Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Payment Date to be reimbursed on such final Distribution Payment Date.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni Auto Receivables LLC)

Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to in accordance with Section 3.043.07, or the termination of an Asset Representations Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, Issuing Entity shall pay the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 [____] for each Review ARR Receivable for which the Asset Representations Review a Test was started completed (the “Review Fee”)) in accordance with the priority of payments set forth in Section 5.04(b) of the Sale and Servicing Agreement or Section 5.04(b) of the Indenture, as applicable. However, no Review Fee will be charged for any Review ARR Receivable (i) which was included in a prior Review, (ii) Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied 3.10 or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under in accordance with Section 3.02(b)3.04. If all or a portion of any Review Fee due and payable to the Asset Representations Reviewer on a Payment Date is not paid to the Asset Representations Reviewer on such Payment Date, then the Servicer shall pay such unpaid portion within 30 days of receipt of a detailed written invoice therefor. However, if an Asset Representations a Review is terminated according to Section 3.03(e)3.10, the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days business days before the final Distribution Date Payment Date. For the avoidance of doubt, the aggregate limit on the Review Fee specified in 5.04(b)(iii) of the Sale and Servicing Agreement shall not apply to be reimbursed on such final Distribution Datepayments made by the Servicer to the Asset Representations Reviewer pursuant to this Section 4.01(b).

Appears in 1 contract

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

Review Fee. Following the completion of an Asset Representations Review and the delivery to the Indenture Trustee, the Issuer, the Sponsor and the Servicer of the related Review Report pursuant to Section 3.04Report, or the termination of an Asset Representations Review according to in accordance with Section 3.03(e3.4(f), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of [$200 [●] for each Review Subject Receivable for which the Asset Representations Review was started started][$[●] per hour][insert any other rate agreed upon by the Asset Representations Reviewer and the Servicer] (the “Review Fee”), to be paid as agreed in Section 4.3(c). However, no Review Fee will be charged for any Review Receivable (i) which was included Tests that were performed in a prior Review, (ii) Asset Representations Review or for any Asset Representations Review in which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to in accordance with Section 3.03(e3.4(f), (iii) for which no Tests were completed prior . The Servicer will pay the Review Fee to the Asset Representations Reviewer being notified in accordance with the terms of the Review Receivable being paid in full by detailed invoice from the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b)Asset Representations Reviewer. However, if If an Asset Representations Review is terminated according to in accordance with Section 3.03(e3.4(f), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Asset Representations Review no later than ten (10) five Business Days before the final Distribution Payment Date in order to be reimbursed on such no later than the final Distribution Payment Date.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Usaa Acceptance LLC)

Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations a Review according to Section 3.03(e), and the delivery to the Issuer Issuing Entity and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 [____] for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”)) to be paid by [the Servicer] within [30] days upon receipt of such invoice. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied satisfied[, substituted] or repurchased by the Depositor or the Seller World Omni as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations a Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer Issuing Entity and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Payment Date to be reimbursed on such final Distribution Payment Date.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni Auto Receivables LLC)

Review Fee. Following the completion of an Asset Representations a Review and the delivery of the related Review Report pursuant to Section 3.04, or the termination of an Asset Representations a Review according to Section 3.03(e), and the delivery to the Issuer and the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee payable by the Servicer of $200 [____] for each Review Receivable for which the Asset Representations Review was started (the “Review Fee”)) to be paid by [the Servicer] within [30] days upon receipt of such invoice. However, no Review Fee will be charged for any Review Receivable (i) which was included in a prior Review, (ii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review according to Section 3.03(e), (iii) for which no Tests were completed prior to the Asset Representations Reviewer being notified of the Review Receivable being paid in full by the Obligor, otherwise satisfied or repurchased by the Depositor or the Seller World Xxxx as described in Section 3.03(c), or (iv) due to missing or insufficient Review Materials under Section 3.02(b). However, if an Asset Representations a Review is terminated according to Section 3.03(e), the Asset Representations Reviewer must submit its invoice to the Issuer and the Servicer for the Review Fee for the terminated Review no later than ten (10) Business Days before the final Distribution Payment Date to be reimbursed on such final Distribution Payment Date.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni Auto Receivables LLC)

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