Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct an Asset Review under the Indenture, (ii) to determine which Leases are subject to an Asset Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Subject Leases, (vi) to determine the reason for the delinquency of any Subject Lease, the creditworthiness of any Obligor, the overall quality of any Subject Lease or the compliance by the Servicer with its covenants with respect to the servicing of any Subject Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.
Appears in 5 contracts
Samples: Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Asset Representations Review Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct an Asset Review under the Indenture, (ii) to determine which Leases are subject to an Asset Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Subject Leases, (vi) to determine the reason for the delinquency of any Subject Lease, the creditworthiness of any Obligor, the overall quality of any Subject Lease or the compliance by the Servicer with its covenants with respect to the servicing of any Subject Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.
Appears in 5 contracts
Samples: Asset Representations Review Agreement (Vw Credit Leasing LTD), Asset Representations Review Agreement (Vw Credit Leasing LTD), Asset Representations Review Agreement (Vw Credit Leasing LTD)
Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct an Asset a Review under the Indenture, ; (ii) to determine which 2018-B Leases and 2018-B Leased Vehicles are subject to an Asset a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described hereinMaterials, (v) to take any action or cause any other party to take any action under any of the Transaction 2018-B Basic Documents to enforce any remedies for breaches of representations or warranties about the Subject LeasesEligible Representations, (vi) to determine the reason for the delinquency of any Subject LeaseReview Asset, the creditworthiness of any ObligorLessee, the overall quality of any Subject Lease Review Asset or the compliance by the Servicer with its covenants with respect to the servicing of any Subject Leasesuch Review Asset, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03Test.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2018-B), Asset Representations Review Agreement (Mercedes-Benz Auto Lease Trust 2018-B)
Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct an Asset a Review under the Indenture, ; (ii) to determine which Leases Contracts are subject to an Asset a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing incomplete or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Subject LeasesEligible Representations, (vi) to determine the reason for the delinquency of any Subject LeaseReview Contract, the creditworthiness of any Obligor, the overall quality of any Subject Lease Review Contract or the compliance by the Servicer with its covenants with respect to the servicing of any Subject Leasesuch Review Contract, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Harley-Davidson Motorcycle Trust 2023-A), Asset Representations Review Agreement (Harley-Davidson Motorcycle Trust 2023-A)
Review Process Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct an Asset Review under the Indenture, ; (ii) to determine which Leases are subject to an Asset Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials except as specifically described herein, (vherein,(v) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of representations or warranties about the Subject Leases, (vi) to determine the reason for the delinquency of any Subject Lease, the creditworthiness of any [Obligor], the overall quality of any Subject Lease or the compliance by the Servicer with its covenants with respect to the servicing of any such Subject Lease, or (vii) to establish cause, materiality or recourse for any failed Test as described in Section 3.03.
Appears in 1 contract
Samples: Asset Representations Review Agreement (Vw Credit Leasing LTD)