Common use of Effect of Supplement on Vehicle Trust Agreement Clause in Contracts

Effect of Supplement on Vehicle Trust Agreement. (a) Except as otherwise specifically provided herein or unless the context otherwise requires, (i) the parties hereto shall continue to be bound by all provisions of the Vehicle Trust Agreement and (ii) the provisions set forth herein shall operate either as additions to or modifications of the extant obligations of the parties under the Vehicle Trust Agreement, as the context may require. In the event of any conflict between this Supplement and the Vehicle Trust Agreement in respect of the [____]-[_] SUBI, the provisions of this Supplement shall prevail. (b) For purposes of determining the obligations of the parties hereto under this Supplement with respect to the [____]-[_] SUBI, except as otherwise indicated by the context, general references in the Vehicle Trust Agreement to (i) a SUBI Account shall be deemed to refer more specifically to a [____]-[_] SUBI Account, (ii) the SUBI shall be deemed to refer more specifically to the [____]-[_] SUBI, (iii) a SUBI Collection Account shall be deemed to refer more specifically to the [____]-[_] SUBI Collection Account, (iv) a SUBI Asset shall be deemed to refer more specifically to a [____]-[_] SUBI Asset, (v) a SUBI Supplement shall be deemed to refer more specifically to this Supplement and (vi) a Servicing Supplement shall be deemed to refer more specifically to the Servicing Supplement. (c) Notwithstanding the foregoing, Section 5.6 of the Vehicle Trust Agreement shall not be applicable in connection with this Supplement.

Appears in 3 contracts

Samples: Trust Supplement, Vehicle Trust Supplement (BMW Auto Leasing LLC), Vehicle Trust Supplement (BMW Auto Leasing LLC)

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Effect of Supplement on Vehicle Trust Agreement. (a) Except as otherwise specifically provided herein or unless the context otherwise requires, (i) the parties hereto shall continue to be bound by all provisions of the Vehicle Trust Agreement and (ii) the provisions set forth herein shall operate either as additions to or modifications of the extant obligations of the parties under the Vehicle Trust Agreement, as the context may require. In the event of any conflict between this Supplement and the Vehicle Trust Agreement in respect of the 20[__]-[____]-[_] SUBI, the provisions of this Supplement shall prevail. (b) For purposes of determining the obligations of the parties hereto under this Supplement with respect to the 20[__]-[____]-[_] SUBI, except as otherwise indicated by the context, general references in the Vehicle Trust Agreement to (i) a SUBI Account shall be deemed to refer more specifically to a 20[__]-[____]-[_] SUBI Account, (ii) the SUBI shall be deemed to refer more specifically to the 20[__]-[____]-[_] SUBI, (iii) a SUBI Collection Account shall be deemed to refer more specifically to the 20[__]-[____]-[_] SUBI Collection Account, (iv) a SUBI Asset shall be deemed to refer more specifically to a 20[__]-[____]-[_] SUBI Asset, (v) a SUBI Supplement shall be deemed to refer more specifically to this Supplement and (vi) a Servicing Supplement shall be deemed to refer more specifically to the Servicing Supplement. (c) Notwithstanding the foregoing, Section 5.6 of the Vehicle Trust Agreement shall not be applicable in connection with this Supplement.

Appears in 2 contracts

Samples: Vehicle Trust Supplement (Financial Services Vehicle Trust), Vehicle Trust Supplement (Financial Services Vehicle Trust)

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Effect of Supplement on Vehicle Trust Agreement. (a) Except as otherwise specifically provided herein or unless the context otherwise requires, (i) the parties hereto shall continue to be bound by all provisions of the Vehicle Trust Agreement and (ii) the provisions set forth herein shall operate either as additions to or modifications of the extant obligations of the parties under the Vehicle Trust Agreement, as the context may require. In the event of any conflict between this Supplement and the Vehicle Trust Agreement in respect of the 20[__]-[____]-[_] SUBI, the provisions of this Supplement shall prevail. (b) For purposes of determining the obligations of the parties hereto under this Supplement with respect to the 20[__]-[____]-[_] SUBI, except as otherwise indicated by the context, general references in the Vehicle Trust Agreement to (i) a SUBI Account shall be deemed to refer more specifically to a 20[__]-[____]-[_] SUBI Account, (ii) the SUBI shall be deemed to refer more specifically to the 20[__]-[____]-[_] SUBI, (iii) a SUBI Collection Account shall be deemed to refer more specifically to the 20[__]-[____]-[_] SUBI Collection Account, (iv) a SUBI Asset shall be deemed to refer more specifically to a 20[__]-[____]-[_] SUBI Asset, (v) a SUBI Supplement shall be deemed to refer more specifically to this Supplement and (vi) a Servicing Supplement shall be deemed to refer more specifically to the Servicing Supplement. (c) Notwithstanding the foregoing, Section 5.6 of the Vehicle Trust Agreement shall not be applicable in connection with this Supplement.

Appears in 2 contracts

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

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