Common use of Trust Termination Clause in Contracts

Trust Termination. Notwithstanding Section 9.1(b) of the Vehicle Trust Agreement, the UTI Beneficiary shall not direct that the Vehicle Trust dissolve prior to payment in full of all amounts owed under the Vehicle Trust Agreement, the Trust Agreement and the Indenture and under any Securitized Financing in connection with an Other SUBI.

Appears in 25 contracts

Samples: BMW Vehicle Lease Trust 2024-1, BMW Vehicle Lease Trust 2024-1, BMW Vehicle Lease Trust 2023-2

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Trust Termination. Notwithstanding Section 9.1(b) of the Vehicle Trust Agreement, the UTI Beneficiary shall not direct that the Vehicle Trust dissolve prior to payment in full of all amounts owed under the Vehicle Trust Agreement, the Trust Agreement and the Indenture and under any Securitized Financing in connection with an Other SUBI.

Appears in 19 contracts

Samples: Vehicle Lease (BMW Vehicle Lease Trust 2012-1), BMW Auto Leasing LLC, BMW Auto Leasing LLC

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