SUBI Asset definition
Examples of SUBI Asset in a sentence
All filings (including UCC filings) necessary in any jurisdiction to give the Purchaser (if such Receivable is a Loan or a Lease that is not a SUBI Asset) or the Collateral Agent (if such Receivable is a Lease that is a SUBI Asset) a first priority perfected ownership interest in such Receivable have been made (except to the extent the Equipment secures any receivable that is cross-collateralized with such Receivable).
All Collections shall be applied as follows: (i) if such Collections relate to a SUBI Asset, the Servicer shall deposit such funds as set forth in the related SUBI Servicing Agreement Supplement and (ii) if such Collections relate to a Trust Asset other than a SUBI Asset, the Servicer shall pay such funds as directed by the UTI Certificateholder.
With respect to any Series 2013-2 SUBI Asset reallocated to the UTI on any date, any Collection received on or prior to the last day of the Collection Period preceding such date shall not be deemed allocated to the UTI.
Based upon their identification and allocation by the Servicer pursuant to the 2019-B Servicing Supplement, the Titling Trustee hereby identifies and allocates as 2019-B SUBI Assets the 2019-B Leases and 2019-B Vehicles more particularly described on the Schedule of 2019-B Leases and 2019-B Vehicles and the related Trust Assets described above, each such 2019-B SUBI Asset to be identified on the books and accounts of the Titling Trust as being allocated to the 2019-B SUBI.
With respect to any Series 2015-1 SUBI Asset reallocated to the UTI on any date, any Collection received on or prior to the last day of the Collection Period preceding such date shall not be deemed allocated to the UTI.
With respect to any Series 2013-1 SUBI Asset reallocated to the UTI on any date, any Collection received on or prior to the last day of the Collection Period preceding such date shall not be deemed allocated to the UTI.
Based upon their identification and allocation by the Servicer pursuant to the 2014-B Servicing Supplement, the Titling Trustee hereby identifies and allocates as 2014-B SUBI Assets the 2014-B Leases and 2014-B Vehicles more particularly described on the Schedule of 2014-B Leases and 2014-B Vehicles and the related Trust Assets described above, each such 2014-B SUBI Asset to be identified on the books and accounts of the Titling Trust as being allocated to the 2014-B SUBI.
Based upon their identification and allocation by the Servicer pursuant to the 2015-A Servicing Supplement, the Titling Trustee hereby identifies and allocates as 2015-A SUBI Assets the 2015-A Leases and 2015-A Vehicles more particularly described on the Schedule of 2015-A Leases and 2015-A Vehicles and the related Trust Assets described above, each such 2015-A SUBI Asset to be identified on the books and accounts of the Titling Trust as being allocated to the 2015-A SUBI.
In the event of any conflict between the provisions of this Series 2015-1 SUBI Supplement and the Trust Agreement with respect to the Series 2015-1 SUBI or any Series 2015-1 SUBI Asset, the provisions of this Series 2015-1 SUBI Supplement shall prevail.
Based upon their identification and allocation by the Servicer pursuant to the 20[__]-[__] Servicing Supplement, the Titling Trustee hereby identifies and allocates as 20[__]-[__] SUBI Assets the portfolio of Contracts and Leased Vehicles more particularly described on Schedule I hereto, and the related Titling Trust Assets described above, each such 20[__]-[__] SUBI Asset to be identified on the books and accounts of the Titling Trust as belonging to the 20[__]-[__] SUBI Portfolio.