Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.09. To the extent not paid by the Sponsor and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02.
Appears in 58 contracts
Samples: Asset Representations Review Agreement (Drive Auto Receivables Trust 2024-2), Asset Representations Review Agreement (Drive Auto Receivables Trust 2024-2), Asset Representations Review Agreement (Drive Auto Receivables Trust 2024-1)
Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer Servicer, the Grantor Trust and the Issuer of the Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 200 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 3.03, if applicable (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.09. To the extent not paid by the Sponsor and outstanding for at least 90 sixty (60) days after receipt by the Indenture Trustee, the Sponsor, the Servicer Servicer, the Grantor Trust and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02.
Appears in 10 contracts
Samples: Asset Representations Review Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Asset Representations Review Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Asset Representations Review Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3)
Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor[Issuer][Sponsor], the Servicer and the Issuer of the Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 [ ] [for each Subject Receivable for which the Asset Review was completed plus completed][per hour for its time spent conducting the Asset Review][as a flat fee for such Review][plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 3.03] (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.09. [To the extent not paid by the Sponsor [Issuer][Sponsor] and outstanding for at least 90 [90] days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02.]
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Santander Drive Auto Receivables LLC), Asset Representations Review Agreement (Santander Drive Auto Receivables LLC)
Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 200 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 3.3 (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.093.9 or the Asset Representations Reviewer being notified of the payment in full or purchase of any Subject Receivable according to Section 3.8. To the extent not paid by the Sponsor and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 8.5(a) of the Sale and Servicing Agreement Indenture or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Huntington Auto Trust 2016-1), Asset Representations Review Agreement (Huntington Auto Trust 2016-1)
Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Report and the related Review Invoice, the Sponsor [Sponsor][Issuer] shall pay to the Asset Representations Reviewer a fee of $200.00 [ ][for each Subject Receivable for which the Asset Review was completed plus completed][per hour for its time spent conducting the Asset Review][as a flat fee for such Review][plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 3.03] (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review review according to Section 3.093.4(e). [To the extent not paid by the Sponsor [Sponsor][Issuer] and outstanding for at least 90 [90] days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by [the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02applicable][the Sponsor].
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Santander Drive Auto Receivables LLC), Asset Representations Review Agreement (Santander Drive Auto Receivables LLC)
Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review review according to Section 3.09. To the extent not paid by the Sponsor and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Santander Drive Auto Receivables LLC), Asset Representations Review Agreement (Santander Drive Auto Receivables LLC)
Review Fee. Following the completion of an Asset Review and the delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer Trustee of the Review Report Report, or the termination of an Asset Review according to Section 3.4(e), and the related Review Invoicedelivery to the Sponsor and the Servicer of a detailed invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of up to $200.00 [•] [for each Subject Receivable Asset for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to started] [per hour for its time spent conducting the location at which Review Materials are made available in accordance with Section 3.03 Asset Review] [as a flat fee for such Review] (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable Asset which was included in a prior Asset Review (unless such Subject Asset is subjected to Tests in such additional Asset Review as described in Section 3.4(d)) or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.093.4(e). To the extent not paid by the Sponsor and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice60 days, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 [•] of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02Series 20[•]-[•] Indenture Supplement.
Appears in 1 contract
Samples: Asset Representations Review Agreement (Nissan Wholesale Receivables Corp Ii)