SUBI Collection Account definition

SUBI Collection Account means, with respect to a SUBI, the related Collection Account created, designated and maintained as such pursuant Section 4.02(a) of the Titling Trust Agreement.

SUBI Collection Account means a trust account established by the Servicer on behalf of the Vehicle Trustee for the benefit of the holders of interests in the SUBI, into which collections on or in respect of the 2015-1 Leases and the related 2015-1 Vehicles will generally be deposited.

SUBI Collection Account means the trust account established pursuant to Section 3.1(a).

Examples of SUBI Collection Account in a sentence

• If the Servicer shall sell or otherwise dispose of a Matured Vehicle after having made a Sales Proceeds Advance, the Issuer may retain all of such Sales Proceeds Advance, and the Servicer shall retain the related Sales Proceeds or Termination Proceeds, as the case may be, up to the Securitization Value of the related Lease, and will deposit any Sales Proceeds or Termination Proceeds, as the case may be, in excess of the Securitization Value into the SUBI Collection Account.

• The purchase price for the 20[__]-[__] SUBI Certificate shall equal the unpaid principal balances of the Notes, together with accrued interest thereon to the Redemption Date (the “Optional Purchase Price”), which amount shall be deposited by the Servicer into the 20[__]-[__] SUBI Collection Account on the Deposit Date relating to the Redemption Date.

• Notwithstanding anything to the contrary contained in this Servicing Supplement, for so long as BMW FS is the Servicer, the Servicer shall be permitted to deposit into the 20[__]-[__] SUBI Collection Account only the net amount distributable to the Issuer, as holder of the 20[__]-[__] SUBI Certificate, on the related Deposit Date.

• Notwithstanding anything herein to the contrary, so long as BMW FS is the Servicer, BMW FS may withhold from the deposit into the 20[__]-[__] SUBI Collection Account any amounts indicated on the related Payment Date Certificate as being due and payable to the Servicer.

• If the Monthly Remittance Condition is not satisfied, SUBI Collections will be deposited into the 20[__]-[__] SUBI Collection Account within two Business Days of receipt.

More Definitions of SUBI Collection Account

SUBI Collection Account means, with respect to a SUBI, any account denominated as such that is established and maintained in accordance with the related SUBI Supplement and SUBI Servicing Supplement.

SUBI Collection Account means the trust account established pursuant to Section 8.02(c) of the Indenture.

SUBI Collection Account has the meaning set forth in the Origination Trust Agreement.

SUBI Collection Account means a securities account (within the meaning of Section 8-501 of the UCC) in the name “BMW Vehicle Lease Trust 20[__]-[__]” established with the Securities Intermediary pursuant to the Indenture, together with any successor accounts established pursuant to the Indenture.

SUBI Collection Account means the SUBI Collection Account established by the 20[__]-[__] Securitization Trustee pursuant to the 20[__]-[__] SUBI Supplement and designated as the “20[__]-[__] SUBI Collection Account.”

SUBI Collection Account has the meaning assigned to such term in the Annex of Definitions.

SUBI Collection Account means, with respect to a SUBI, the related Collection Account created, designated and maintained as such pursuant to Section 4.02.