Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.
Appears in 40 contracts
Samples: Security Agreement (BMW Vehicle Lease Trust 2024-2), Security Agreement (BMW Vehicle Lease Trust 2024-2), Security Agreement (Financial Services Vehicle Trust)
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section Sections 3804(a) and 3806(b)(2) of the Statutory Business Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Vehicle Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.
Appears in 24 contracts
Samples: Financial Services (Financial Services Vehicle Trust), Financial Services (BMW Vehicle Lease Trust 2024-2), Financial Services (BMW Vehicle Lease Trust 2024-2)
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.
Appears in 6 contracts
Samples: Back Up Security Agreement (BMW Vehicle Lease Trust 2011-1), Back Up Security Agreement (BMW Vehicle Lease Trust 2011-1), Security Agreement (BMW Vehicle Lease Trust 2010-1)
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Business Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Vehicle Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.
Appears in 4 contracts
Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-1)
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.. [SIGNATURE PAGE FOLLOWS] 7
Appears in 1 contract
Samples: sec.report
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust shall be enforceable against the assets of such series of the Vehicle Trust only, and not against 6 the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.. [SIGNATURE PAGE FOLLOWS] 7
Appears in 1 contract
Samples: Security Agreement
Series Disclaimer and Acknowledgment. The parties hereto acknowledge and agree that the Vehicle Trust is organized in series pursuant to Section 3804(a) and 3806(b)(2) of the Statutory Trust Statute. As such, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each series of the Vehicle Trust 6 shall be enforceable against the assets of such series of the Vehicle Trust only, and not against the assets of the Vehicle Trust generally or the assets of any other series of the Vehicle Trust or against the Trustee of the Vehicle Trust. There may be several series of the Vehicle Trust created pursuant to the Vehicle Trust Agreement.. [SIGNATURE PAGE FOLLOWS] 7
Appears in 1 contract
Samples: www.sec.gov
