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 72 contracts
Samples: Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-4), Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-3)
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 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 7 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 2024-P4)
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)
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 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 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 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)