Common use of Disbursements to Dealers Clause in Contracts

Disbursements to Dealers. Upon the satisfaction by the Dealer of all of the requirements set forth in its Dealer Agreement entitling the Dealer to payment with respect to the Closed-End Lease and Closed-End Vehicle (including without limitation the execution and delivery thereby of all instruments of assignment of such Closed-End Lease and Closed-End Vehicle to the Titling Trustee), the presentation by the Dealer of a properly prepared draft upon the Draft Account in accordance with such Dealer Agreement and the approval of the draft by the Closed-End Servicer in its ordinary course of business under the Dealer Agreement, the Closed-End Servicer shall deposit into the Draft Account the amount of such draft.