Common use of Regulation RR Risk Retention Clause in Contracts

Regulation RR Risk Retention. BMW FS, as “sponsor” within the meaning of Regulation RR, shall cause the Depositor to retain the “eligible horizontal residual interest” (as defined by Regulation RR (the “Retained Interest”)) on the Closing Date and BMW FS will cause the Depositor and each Affiliate of BMW FS not to sell, transfer, finance or hedge the Retained Interest except as permitted by Regulation RR. This Section 2.24 shall survive the termination of this Servicing Supplement, and any resignation by, or termination of, BMW FS in its capacity as Servicer hereunder.

Regulation RR Risk Retention. BMW FS, as “sponsor” within the meaning of Regulation RR, shall cause the Depositor and BMW Bank to retain the “eligible horizontal residual interest” (as defined by Regulation RR (the “Retained Interest”)) on the Closing Date and BMW FS will comply, and will cause the Depositor Depositor, BMW Bank and each Affiliate of BMW FS to comply, with Regulation RR and will not, and will cause the Depositor, BMW Bank and each Affiliate of BMW FS not to sell, transfer, finance or hedge the Retained Interest except as permitted by Regulation RR. This Section 2.24 10.15 shall survive the termination of this Servicing SupplementAgreement, and any resignation by, or termination of, BMW FS in its capacity as Servicer hereunder.

Regulation RR Risk Retention. BMW FS, as “sponsor” within the meaning of Regulation RR, shall cause the Depositor to retain the [“eligible horizontal residual interest”][“eligible vertical residual interest” ”] (as defined by Regulation RR (the “Retained Interest”)) on the Closing Date and BMW FS will cause the Depositor and each Affiliate of BMW FS not to sell, transfer, finance or hedge the Retained Interest except as permitted by Regulation RR. This Section 2.24 shall survive the termination of this Servicing Supplement, and any resignation by, or termination of, BMW FS in its capacity as Servicer hereunder.