Duties and Powers of Vehicle Trustee. (a) The Vehicle Trustee undertakes to perform such duties (and only such duties), take such actions (and only such actions) and refrain from taking such actions (and only such actions), as are expressly specified in this Supplement and the Vehicle Trust Agreement, or upon receipt of indemnity satisfactory to it for its fees and expenses, as may be directed, solely and exclusively, by the UTI Beneficiary in a manner, as evidenced by an opinion of counsel delivered to the Vehicle Trustee, not contrary to the terms of this Supplement or the other Basic Documents.
Appears in 35 contracts
Samples: BMW Vehicle Lease Trust 2024-1, BMW Vehicle Lease Trust 2024-1, BMW Vehicle Lease Trust 2023-2
Duties and Powers of Vehicle Trustee. (a) The Vehicle Trustee undertakes to perform such duties (and only such duties), take such actions (and only such actions) and refrain from taking such actions (and only such actions), as are expressly specified in this Supplement and the Vehicle Trust Agreement, or upon receipt of indemnity satisfactory to it for its fees and expenses, as may be directed, solely and exclusively, by the UTI Beneficiary in a manner, as evidenced by an opinion of counsel delivered to the Vehicle Trustee, not contrary to the terms of this Supplement or the other Basic Documents.
Appears in 8 contracts
Samples: Vehicle Lease (BMW Vehicle Lease Trust 2012-1), BMW Vehicle Lease Trust 2012-1, BMW Vehicle Lease Trust 2011-1
Duties and Powers of Vehicle Trustee. (a) The Vehicle Trustee undertakes to perform such duties (and only such duties), take such actions (and only such actions) and refrain from taking such actions (and only such actions), as are expressly specified in this Supplement and the Vehicle Trust Agreement, or upon receipt of indemnity satisfactory to it for its fees and expenses, as may be directed, solely and exclusively, by the UTI Beneficiary in a manner, as evidenced by an opinion of counsel delivered to the Vehicle Trustee, not contrary to the terms of this Supplement or the other Basic DocumentsSupplement.
Appears in 1 contract
Samples: BMW Vehicle Lease Trust 2007-1