Common use of Appointment of Subservicer or Subcontractor Clause in Contracts

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 2014-1 Leases and 2014-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 2014-1 Leases and 2014-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Auto Leasing LLC), Financial Services (BMW Auto Leasing LLC)

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142021-1 Leases and 20142021-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142021-1 Leases and 20142021-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2021-1), Financial Services Vehicle (BMW Vehicle Lease Trust 2021-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142016-1 2 Leases and 20142016-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142016-1 2 Leases and 20142016-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142012-1 Leases and 20142012-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142012-1 Leases and 20142012-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2012-1), Financial Services (BMW Vehicle Lease Trust 2012-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142016-1 Leases and 20142016-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142016-1 Leases and 20142016-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142017-1 Leases and 20142017-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142017-1 Leases and 20142017-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle (BMW Vehicle Lease Trust 2017-1), Financial Services Vehicle (BMW Vehicle Lease Trust 2017-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142010-1 Leases and 20142010-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142010-1 Leases and 20142010-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2010-1), Financial Services (BMW Vehicle Lease Trust 2010-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142017-1 2 Leases and 20142017-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142017-1 2 Leases and 20142017-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2017-2), Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2017-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142022-1 Leases and 20142022-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142022-1 Leases and 20142022-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142023-1 Leases and 20142023-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142023-1 Leases and 20142023-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142018-1 Leases and 20142018-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142018-1 Leases and 20142018-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2018-1), Financial Services (BMW Vehicle Lease Trust 2018-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142013-1 Leases and 20142013-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142013-1 Leases and 20142013-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2013-1), Financial Services (BMW Vehicle Lease Trust 2013-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142024-1 Leases and 20142024-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142024-1 Leases and 20142024-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1)

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142023-1 2 Leases and 20142023-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142023-1 2 Leases and 20142023-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142019-1 Leases and 20142019-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142019-1 Leases and 20142019-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle (BMW Vehicle Lease Trust 2019-1), Financial Services (BMW Vehicle Lease Trust 2019-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142015-1 2 Leases and 20142015-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142015-1 2 Leases and 20142015-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Auto Leasing LLC), Basic Servicing Agreement (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142015-1 Leases and 20142015-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142015-1 Leases and 20142015-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2015-1), Financial Services (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142007-1 Leases and 20142007-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142007-1 Leases and 20142007-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Financial Services (BMW Vehicle Lease Trust 2007-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142009-1 Leases and 20142009-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142009-1 Leases and 20142009-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Financial Services (BMW Vehicle Lease Trust 2009-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20142021-1 2 Leases and 20142021-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20142021-1 2 Leases and 20142021-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2021-2)

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