Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable the procedures listed under “Tests” in Schedule B for each representation and warranty (each, a “Test”), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”). If a Test or part of a Test cannot be performed for a Review Receivable because the Test circumstances do not apply to the Review Receivable, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 34 contracts
Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2022-A), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2022-A), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC)
Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable Lease the procedures listed under “Tests” in Schedule B for each representation and warranty (each, a “Test”), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review ReceivableLease, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”). If a Test or part of a Test cannot be performed for a Review Receivable Lease because the Test circumstances do not apply to the Review ReceivableLease, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 22 contracts
Samples: Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2021-B), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2021-B), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2021-A)
Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable the procedures listed under “"Tests” " in Schedule B for each representation and warranty (each, a “"Test”"), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “"Test Pass”") or if the Test has not been satisfied (a “"Test Fail”"). If a Test or part of a Test cannot be performed for a Review Receivable because the Test circumstances do not apply to the Review Receivable, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 19 contracts
Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-D), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-C)
Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable Lease the procedures listed under “"Tests” " in Schedule B for each representation and warranty (each, a “"Test”"), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review ReceivableLease, the Asset Representations Reviewer will determine if the Test has been satisfied (a “"Test Pass”") or if the Test has not been satisfied (a “"Test Fail”"). If a Test or part of a Test cannot be performed for a Review Receivable Lease because the Test circumstances do not apply to the Review ReceivableLease, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 11 contracts
Samples: Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2024-B), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2024-B), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2024-A)
Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable Lease the procedures listed under “Tests” in Schedule B A for each representation and warranty (each, a “Test”), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review ReceivableLease, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”). If a Test or part of a Test cannot be performed for a Review Receivable Lease because the Test circumstances do not apply to the Review ReceivableLease, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 5 contracts
Samples: Asset Representations Review Agreement (Ford Credit Auto Lease Two LLC), Asset Representations Review Agreement (Ford Credit Auto Lease Two LLC), Asset Representations Review Agreement (CAB East LLC)
Test Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Receivable the procedures listed under “Tests” in Schedule B for each representation and warranty (each, a “Test”), using the Review Materials necessary to perform the procedures as stated in the Test. For each Test and Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or ), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of missing or incomplete Review Materials (a “Test Incomplete”). If a Test or part of a Test cannot be performed for a Review Receivable because the Test circumstances do not apply to the Review Receivable, the Test will be considered to be satisfied and will be reported as a Test Pass.
Appears in 2 contracts
Samples: Asset Representations Review Agreement (Verizon Owner Trust 2020-B), Asset Representations Review Agreement (Verizon ABS LLC)