Common use of SUBI Collection Account Clause in Contracts

SUBI Collection Account. If the Servicer has not sold a 2022-1 Vehicle within 90 days after it has made a Sales Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance as part of the Payment Date Advance Reimbursement in accordance with Section 2.4(b)(i). Within six months of receiving that reimbursement, if the related 2022-1 Vehicle has not been sold, the Servicer shall, if permitted by applicable law, cause such 2022-1 Vehicle to be sold at auction and shall remit the proceeds associated with the disposition of such 2022-1 Vehicle to the 2022-1 SUBI Collection Account.

SUBI Collection Account. If the Servicer has not sold a 20222016-1 Vehicle within 90 days after it has made a Sales Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance as part of the Payment Date Advance Reimbursement in accordance with Section 2.4(b)(i). Within six months of receiving that reimbursement, if the related 20222016-1 Vehicle has not been sold, the Servicer shall, if permitted by applicable law, cause such 20222016-1 Vehicle to be sold at auction and shall remit the proceeds associated with the disposition of such 20222016-1 Vehicle to the 20222016-1 SUBI Collection Account, except as otherwise provided in Section 2.3(g).