Common use of Prohibited Directions Clause in Contracts

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 2023-2 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 2023-2 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 2023-2 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 2023-2 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 2023-2 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 2023-2 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 2023-2 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 2023-2 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 2023-2 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 2023-2 SUBI Portfolio or (vii) to take any actions with respect to the 2023-2 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232019-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232019-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232019-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232019-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232019-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232019-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232019-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232019-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232019-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232019-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232019-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of neither the UTI Beneficiary, Beneficiary nor the holder of the 20232014-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232014-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232014-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232014-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232014-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232014-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232014-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232014-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232014-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232014-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232014-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer Trust to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer Trust and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232016-2 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232016-2 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232016-2 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232016-2 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232016-2 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232016-2 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232016-2 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232016-2 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232016-2 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232016-2 SUBI Portfolio or (vii) to take any actions with respect to the 20232016-2 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 2023-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 2023-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 2023-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 2023-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 2023-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 2023-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 2023-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 2023-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 2023-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 2023-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 2023-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232016-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232016-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232016-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232016-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232016-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232016-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232016-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232016-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232016-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232016-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232016-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232021-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232021-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232021-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232021-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232021-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232021-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232021-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232021-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232021-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232021-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232021-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232024-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232024-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232024-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232024-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232024-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232024-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232024-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232024-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232024-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232024-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232024-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of neither the UTI Beneficiary, Beneficiary nor the holder of the 20232011-2 1 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232011-2 1 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232011-2 1 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232011-2 1 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232011-2 1 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232011-2 1 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232011-2 1 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232011-2 1 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232011-2 1 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232011-2 1 SUBI Portfolio or (vii) to take any actions with respect to the 20232011-2 1 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer Trust to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer Trust and of the Other SUBI Portfolios or the UTI Portfolio.

Prohibited Directions. As provided by Section 5.2(d) of the Vehicle Trust Agreement, none of the UTI Beneficiary, the holder of the 20232021-2 SUBI Certificate or the Registered Pledgee shall direct the Vehicle Trustee (i) to take any action that would cause the 20232021-2 SUBI Portfolio to be substantively consolidated into any Other SUBI Portfolio such that it will have its separate existence disregarded in the event of a bankruptcy of the UTI Beneficiary, the Vehicle Trust, or an Other SUBI or the UTI, (ii) to commingle any of the assets of the 20232021-2 SUBI Portfolio with the assets of any Other SUBI Portfolio or the UTI Portfolio, (iii) to maintain the corporate, financial and accounting books and records and statements of the 20232021-2 SUBI Portfolio, if any, in a manner such that they cannot be separated from those of any Other SUBI Portfolio or the UTI Portfolio, (iv) to take any action that would cause (a) the funds and other assets of the 20232021-2 SUBI Portfolio, if any, not to be identifiable on the bank accounts, corporate records and books of account, if any, of the 20232021-2 SUBI Portfolio and (b) the Vehicle Trust to pay, other than from the assets of the 20232021-2 SUBI Portfolio, any obligations or indebtedness of any kind incurred by the 20232021-2 SUBI Portfolio and payable by the Vehicle Trust pursuant to the SUBI Trust Agreement, (v) to maintain the assets and liabilities of the 20232021-2 SUBI Portfolio so that they are not readily ascertainable from those of any Other SUBI Portfolio or the UTI Portfolio and subject to segregation (without requiring substantial time or expense to effect and account for such segregated assets and liabilities), (vi) to file a voluntary petition as a debtor under the federal bankruptcy code or any similar insolvency law or on behalf of the Vehicle Trust or the 20232021-2 SUBI Portfolio or (vii) to take any actions with respect to the 20232021-2 SUBI Portfolio except in its capacity as the Vehicle Trustee or Series Vehicle Trustee, as the case may be. The Servicer shall have the right to take any action on behalf of the Issuer to enforce the foregoing provisions of this Section 5.7 for the benefit of the Issuer and of the Other SUBI Portfolios or the UTI Portfolio.