Common use of Variation Agreement Clause in Contracts

Variation Agreement. If the Borrower has entered into any other agreement(s) with BMW which pre dates this agreement, BMW and the Borrower or Lessee (as applicable) agree those other agreements are varied to specifically identify and record that the Borrower or Lessee has granted BMW a security interest in the Vehicle described in this agreement as security for the obligations in each of the other agreement(s).

Variation Agreement. If the Borrower Lessee has entered into any other agreement(s) with BMW which pre dates this agreement, BMW and the Lessee or Borrower or Lessee (as applicable) agree those other agreements are varied to specifically identify and record that the Borrower or Lessee has granted BMW a security interest in the Vehicle described in this agreement as security for the obligations in each of the other agreement(s).