Owner Trustee to Provide Information. The Owner Trustee shall provide prompt notice to BMW Financial Services NA, LLC and BMW FS Securities LLC (each, a “BMW Party,” and together, the “BMW Parties”) of all demands communicated to the Owner Trustee for the repurchase or replacement of any Receivable and Financed Vehicle for breach of the representations and warranties concerning such Receivable or Financed Vehicle (each, a “Demand”). Subject to Section 6.03 of this Agreement, the Owner Trustee shall have no obligation to take any other action with respect to a Demand, other than as set forth in the immediately preceding sentence. However, the Owner Trustee shall, upon written request of either BMW Party, provide notification to the BMW Parties with respect to any actions taken by the Owner Trustee, if any, with respect to any such demand communicated to the Owner Trustee in respect of any Receivable or Financed Vehicle, such notifications to be provided by the Owner Trustee as soon as practicable and in any event within five (5) Business Days of such request or such other time frame as may be mutually agreed to by the Owner Trustee and the applicable BMW Party. Such notices shall be provided to the BMW Parties at (i) BMW Financial Services NA, LLC at 000 Xxxxxxxx Xxxxx Xxxx, Xxxxxxxxx Xxxx, XX 00000, (telecopier no. (000) 000-0000), Attention: General Counsel, E-mail: XXX.Xxxxxxxxxx@xxxxx.xxx, or at such other address or by such other means of communication as may be specified by BMW Financial Services NA, LLC to the Owner Trustee from time to time, and (ii) BMW FS Securities LLC at 000 Xxxxxxxx Xxxxx Xxxx, Xxxxxxxxx Xxxx, XX 00000, Attention: General Counsel, E-mail: XXX.Xxxxxxxxxx@xxxxx.xxx, or at such other address or by such other means of communication as may be specified by BMW FS Securities LLC to the Owner Trustee from time to time. The Owner Trustee and the Issuer acknowledge and agree that the purpose of this Section 6.07 is to facilitate compliance by the BMW Parties with Rule 15Ga-1 under the Exchange Act, and Items 1104(e) and 1121(c) of Regulation AB (the “Repurchase Rules and Regulations”). In no event shall the Owner Trustee have any responsibility or liability in connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB or with any BMW Parties’ compliance with the Repurchase Rules and Regulations.
Owner Trustee to Provide Information. The Owner Trustee shall provide prompt notice to Toyota Motor Credit Corporation and Toyota Leasing, Inc. (each, a “TMCC Party,” and together, the “TMCC Parties”) of all demands received by the Owner Trustee for the repurchase or replacement of any 20[__]-[__] Lease and 20[__]-[__] Vehicle for breach of the representations and warranties concerning such 20[__]-[__] Lease or 20[__]-[__] Vehicle. If any such demand is made in non-written form, the Owner Trustee shall request that such demand be put into writing; provided, however, the Owner Trustee shall notify the TMCC Parties regardless of whether any such demand is made in writing. The obligations of the Owner Trustee under the first two sentences of this Section 6.07 to notify the TMCC Parties of any such demand made in non-written form shall not be applicable during such time as the interpretations of the requirements of the Repurchase Rules and Regulations (as defined below) explicitly require reporting by the TMCC Parties solely with respect to demands in written form. The Owner Trustee shall, upon written request of either TMCC Party, provide notification to the TMCC Parties with respect to any actions taken by the Owner Trustee with respect to any such demand received by the Owner Trustee in respect of any 20[__]-[__] Lease or 20[__]-[__] Vehicle, such notifications to be provided by the Owner Trustee as soon as practicable and in any event within five Business Days of receipt by the Owner Trustee of such written request from either TMCC Party or such other time frame as may be mutually agreed to by the Owner Trustee and the applicable TMCC Party. Such notices shall be provided to the TMCC Parties at (i) Toyota Motor Credit Corporation at [19001 Xxxxx Xxxxxxx Xxxxxx XX00, Xxxxxxxx, Xxxxxxxxxx 00000, Attention: Treasurer], (000) 000-0000, and (ii) Toyota Motor Credit Corporation at 00000 Xxxxx Xxxxxxx Xxxxxx XX00, Xxxxxxxx, Xxxxxxxxxx 00000, Attention: General Counsel, or at such other address or by such other means of communication as may be specified by Toyota Motor Credit Corporation to the Owner Trustee from time to time, and (ii) Toyota Leasing, Inc., 00000 Xxxxx Xxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx 00000, Attention: President, (000) 000-0000, or at such other address or by such other means of communication as may be specified by Toyota Leasing, Inc. to the Owner Trustee from time to time. The Owner Trustee and the Trust acknowledge and agree that the purpose of this Section 7.2(b) is to facilit...
Owner Trustee to Provide Information. (a) The Owner Trustee shall provide the Transferor, the Servicer and GMF (each, a “GMF Party,” and collectively, the “GMF Parties”) with (i) notification of all demands for the repurchase or replacement of a Receivable for breach of representations and warranties concerning such Receivable, as soon as practicable and in any event within five (5) Business Days after the end of each calendar quarter, a notice in substantially the form of Exhibit B with respect to any requests (in writing or orally) received by a Responsible Officer of the Owner Trustee during the immediately preceding calendar quarter (or, in the case of the initial notice, since the Initial Closing Date) , and (ii) promptly upon the request by a GMF Party, any information in its possession reasonably requested by a GMF Party to facilitate compliance by the GMF Parties with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB. In no event shall the Owner Trustee be deemed to be a “
