Common use of SUBI Collection Account Clause in Contracts

SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish and the Indenture Trustee shall maintain the 2021-1 SUBI Collection Account. In the event the 2021-1 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 2021-1 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.

Appears in 2 contracts

Samples: Servicing Supplement (BMW Vehicle Lease Trust 2021-1), Servicing Supplement (BMW Vehicle Lease Trust 2021-1)

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SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish and the Indenture Trustee shall maintain the 20212022-1 SUBI Collection Account. In the event the 20212022-1 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 20212022-1 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.

Appears in 2 contracts

Samples: Servicing Supplement (BMW Vehicle Lease Trust 2022-1), Servicing Supplement (BMW Vehicle Lease Trust 2022-1)

SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish with the Securities Intermediary and the Indenture Trustee shall maintain the 20212024-1 SUBI Collection Account. In the event the 20212024-1 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 20212024-1 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.

Appears in 2 contracts

Samples: Servicing Supplement (BMW Vehicle Lease Trust 2024-1), Servicing Supplement (BMW Vehicle Lease Trust 2024-1)

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SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish with the Securities Intermediary and the Indenture Trustee shall maintain the 20212024-1 2 SUBI Collection Account. In the event the 20212024-1 2 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 20212024-1 2 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.

Appears in 2 contracts

Samples: Servicing Supplement (BMW Vehicle Lease Trust 2024-2), Servicing Supplement (BMW Vehicle Lease Trust 2024-2)

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