Common use of Entitlement Orders Clause in Contracts

Entitlement Orders. If at any time the Securities Intermediary shall receive any Entitlement Order from the Assignee-Secured Party with respect to the Reserve Fund, the Securities Intermediary shall comply with such Entitlement Order without further consent by the Transferor, the Initial-Secured Party or any other Person. If at any time the Assignee-Secured Party notifies the Securities Intermediary in writing that the lien of the Indenture has been released, the Securities Intermediary shall thereafter comply with Entitlement Orders with respect to the Reserve Fund from the Initial-Secured Party without further consent by the Transferor or any other Person.

Appears in 6 contracts

Samples: Control Agreement (BMW Vehicle Lease Trust 2017-1), Control Agreement (BMW Vehicle Lease Trust 2017-1), Control Agreement (BMW Vehicle Lease Trust 2016-2)

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Entitlement Orders. If at any time the Securities Intermediary shall receive any Entitlement Order from the Assignee-Secured Party with respect to the Reserve Fund, the Securities Intermediary shall comply with such Entitlement Order without further consent by the Transferor, the Initial-Initial Secured Party or any other Person. If at any time the Assignee-Secured Party notifies the Securities Intermediary in writing that the lien of the Indenture has been released, the Securities Intermediary shall thereafter comply with Entitlement Orders with respect to the Reserve Fund from the Initial-Initial Secured Party without further consent by the Transferor or any other Person.

Appears in 1 contract

Samples: Control Agreement (BMW Auto Leasing LLC)

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Entitlement Orders. If at any time the Securities Intermediary shall receive any Entitlement Order from the Assignee-Secured Party with respect to the Reserve FundAccount, the Securities Intermediary shall comply with such Entitlement Order without further consent by the TransferorIssuing Entity, the Initial-Initial Secured Party or any other Person. If at any time the Assignee-Secured Party notifies the Securities Intermediary in writing that the lien Lien of the Indenture has been released, the Securities Intermediary shall thereafter comply with Entitlement Orders with respect to the Reserve Fund Account from the Initial-Initial Secured Party without further consent by the Transferor Issuing Entity or any other Person.

Appears in 1 contract

Samples: Control Agreement (Nissan-Infiniti Lt)

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