Review Scope. The Reviews are designed to determine whether certain Receivables were in compliance with certain representations and warranties made about them in the applicable Receivables Purchase Agreement. The Reviews are not designed to determine any of the following: (a) reason for delinquency; (b) creditworthiness of the Obligor, either at the time of the Review or as of the time of the origination of the related Receivable; (c) overall quality of any Review Asset; (d) whether the Servicer has serviced any Receivable in compliance with the terms of the Sale and Servicing Agreement; (e) whether noncompliance with the representations or warranties constitutes a breach of the applicable Receivables Purchase Agreement; (f) whether the Receivables complied with the representations and warranties set forth in the applicable Receivables Purchase Agreement, except as expressly described in this Agreement; or (g) establish cause, materiality or recourse for any failed Test as described in Section 3.05.
Appears in 12 contracts
Samples: Asset Representations Review Agreement (BMW Vehicle Owner Trust 2024-A), Asset Representations Review Agreement (BMW Vehicle Owner Trust 2024-A), Asset Representations Review Agreement (BMW Vehicle Owner Trust 2023-A)
Review Scope. The Reviews are designed to determine whether certain Receivables were in compliance with certain representations and warranties made about them in the applicable Receivables Purchase Sale and Servicing Agreement. The Reviews are not designed to determine any of the following:
(a) reason for delinquency;
(b) creditworthiness of the Obligor, either at the time of the Review or as of the time of the origination of the related Receivable;
(c) overall quality of any Review Asset;
(d) whether the Servicer has serviced any Receivable in compliance with the terms of the Sale and Servicing Agreement;
(e) whether noncompliance with the representations or warranties constitutes a breach of the applicable [applicable] Receivables Purchase Agreement;
(f) whether the Receivables complied with the representations and warranties set forth in the applicable [applicable] Receivables Purchase Agreement, except as expressly described in this Agreement; or
(g) establish cause, materiality or recourse for any failed Test as described in Section 3.05.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (BMW Fs Securities LLC), Asset Representations Review Agreement (BMW Fs Securities LLC)
Review Scope. The Reviews are designed to determine whether certain Receivables were in compliance with certain representations and warranties made about them in the applicable Receivables Purchase Agreement. The Reviews are not designed to determine any of the following:
(a) reason for delinquency;
(b) creditworthiness of the Obligor, either at the time of the Review or as of the time of the origination of the related Receivable;
(c) overall quality of any Review Asset;
(d) whether the Servicer has serviced any Receivable in compliance with the terms of the Sale and Servicing Agreement;
(e) whether noncompliance with the representations or warranties constitutes a breach of the applicable Receivables Purchase Agreement;
(f) whether the Receivables complied with the representations and warranties set forth in the applicable Receivables Purchase Agreement, except as expressly described in this Agreement; or
(g) establish cause, materiality or recourse for any failed Test as described in Section 3.05.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (BMW Vehicle Owner Trust 2016-A), Asset Representations Review Agreement (BMW Vehicle Owner Trust 2016-A)
Review Scope. The Reviews are Asset Representations Review is designed to determine whether certain Receivables were not in compliance with certain the representations and warranties made about them by the [Issuing Entity] in the applicable Receivables Purchase Agreement[Trust Documents]. The Reviews are Review is not designed to determine any of the following:
(a) reason Reason for delinquency;
(b) creditworthiness Creditworthiness of the Obligorobligor, either at the time of the Review or as of the time of the origination of the related ReceivableReceivable creation date;
(c) overall Overall quality of any Review AssetARR Receivable;
(d) whether Whether the applicable Servicer has serviced any Receivable in compliance with the terms of the Sale and Servicing Agreement;
(e) whether Whether noncompliance with the representations or warranties constitutes a breach of the applicable Receivables Purchase Agreementprovisions of any of the [Trust Documents];
(f) whether Whether the Receivables complied were in compliance with the representations and warranties set forth in the applicable Receivables Purchase Agreement[Trust Documents], except as expressly described in this AgreementARR Agreement ; or
(g) To establish cause, materiality or recourse for any failed Test as described in Section 3.05.
Appears in 1 contract
Samples: Asset Representations Review Agreement (John Deere Receivables, Inc.)
Review Scope. The Reviews are Asset Representations Review is designed to determine whether certain Receivables were not in compliance with certain representations and warranties made about them by the [Issuing Entity] in the applicable Receivables Purchase Agreement[Trust Documents]. The Reviews are Review is not designed to determine any of the following:
(a) reason Reason for delinquency;
(b) creditworthiness Creditworthiness of the Obligorobligor, either at the time of the Review or as of the time of the origination of the related ReceivableReceivable creation date;
(c) overall Overall quality of any Review AssetARR Receivable;
(d) whether Whether the applicable Servicer has serviced any Receivable in compliance with the terms of the Sale and Servicing Agreement;
(e) whether Whether noncompliance with the representations or warranties constitutes a breach of the applicable Receivables Purchase Agreementprovisions of any of the [Trust Documents];
(f) whether Whether the Receivables complied were in compliance with the representations and warranties set forth in the applicable Receivables Purchase Agreement[Trust Documents], except as expressly described in this AgreementARR Agreement ; or
(g) To establish cause, materiality or recourse for any failed Test as described in Section 3.05.
Appears in 1 contract
Samples: Asset Representations Review Agreement (John Deere Receivables, Inc.)