Reserve Fund. Pursuant to Section 5.01 of the Trust Agreement, the Transferor shall establish and the Indenture Trustee shall maintain the Reserve Fund (a) with the Indenture Trustee, until the Outstanding Amount is reduced to zero, and (b) thereafter with the Owner Trustee. Deposits and withdrawals from the Reserve Fund shall be made as directed pursuant to the Basic Documents, including Section 8.04(b) of the Indenture. Pursuant to the Indenture, the Reserve Fund shall be under the sole dominion and control of the Indenture Trustee.
Appears in 24 contracts
Samples: Vehicle Trust Supplement (BMW Vehicle Lease Trust 2017-1), Vehicle Trust Supplement (BMW Vehicle Lease Trust 2017-1), Vehicle Trust Supplement (BMW Vehicle Lease Trust 2016-2)
Reserve Fund. Pursuant to Section 5.01 of the Trust Agreement, the Transferor shall establish and the Indenture Trustee shall maintain the Reserve Fund (a) with the Indenture Trustee, until the Outstanding Amount is reduced to zero, and (b) thereafter with the Owner Trustee. Deposits and withdrawals from the Reserve Fund shall be made as directed pursuant to the Basic Documents, including Section 8.04(b) of the Indenture. Pursuant to the Indenture, the Reserve Fund shall be under the sole dominion and control Section 10.01 of the Indenture Trusteeand Section 3.3 hereof.
Appears in 4 contracts
Samples: Trust Supplement, Vehicle Trust Supplement (BMW Auto Leasing LLC), Vehicle Trust Supplement (BMW Vehicle Lease Trust 2007-1)
Reserve Fund. Pursuant to Section 5.01 of the Trust Agreement, the Transferor shall establish and the Indenture Trustee shall maintain the Reserve Fund (a) with the Indenture Trustee, until the Outstanding Amount is reduced to zero, and (b) thereafter with the Owner Trustee. Deposits and withdrawals from the Reserve Fund shall be made as directed pursuant to the Basic Documents, including Section 8.04(b) of the Indenture. Pursuant to , Section 10.01of the Indenture, the Reserve Fund shall be under the sole dominion and control Section 11.04 of the Indenture TrusteeAdministration Agreement and Section 13.03 hereof.
Appears in 1 contract
Samples: Origination Trust Supplement (Ryder Truck Rental I Lp)
Reserve Fund. Pursuant to Section 5.01 of the Trust Agreement, the Transferor shall establish and the Indenture Trustee shall maintain the Reserve Fund (a) with the Indenture Trustee, until the Senior Note Outstanding Amount is reduced to zero, and (b) thereafter with the Owner Trustee. Deposits and withdrawals from the Reserve Fund shall be made as directed pursuant to the Basic Documents, including Section 8.04(b) of the Indenture. Pursuant to , Section 10.01 of the Indenture, the Reserve Fund shall be under the sole dominion and control Section 11.04 of the Indenture TrusteeAdministration Agreement and Section 13.03 hereof.
Appears in 1 contract
Reserve Fund. Pursuant to Section 5.01 of the Trust Agreement, the Transferor shall establish and the Indenture Trustee shall maintain the Reserve Fund (a) with the Indenture Trustee, until the Note Outstanding Amount is reduced to zero, and (b) thereafter with the Owner Trustee. Deposits and withdrawals from the Reserve Fund shall be made as directed pursuant to the Basic Documents, including Section 8.04(b) of the Indenture. Pursuant to , Section 10.01 of the Indenture, the Reserve Fund shall be under the sole dominion and control Section 11.04 of the Indenture TrusteeAdministration Agreement and Section 13.03 hereof.
Appears in 1 contract
Samples: Origination Trust Supplement (Ryder Truck Rental Lt)