Examples of Unallocated Assets Series in a sentence
Each Holder may engage, or cause the Company (on its own behalf or on behalf of or with respect to such Series) or such Series to engage, one or more servicers to administer, manage and control the Series Assets allocated to and associated with such Series; provided, that NMAC shall be the initial Servicer for all Series Interests outstanding as of the date of this Agreement, including the Unallocated Assets Series.
Additionally, the Member may make capital contributions to the Company, and such capital contributions will be allocated to and associated with the Unallocated Assets Series.
In connection with the establishment and formation of a Series Interest pursuant to this Section 4.1(a) (other than the Unallocated Assets Series), the Company will issue to, or to the order of, the Holder of such Series Interest one or more certificates that, at any time, will collectively represent all of such Series Interest (each such certificate, a “Certificate” or a “Series Certificate”).
Following the delivery of the list of the Subject Leases and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Lease is pre-paid in full by the Obligor or reallocated from the 2023-A Series to the Unallocated Assets Series or an Other Series by the Servicer according to the Basic Documents.
In furtherance of the foregoing, the Administrator shall deliver to the Titling Company Registrar an Unallocated Assets Supplement with respect to the Unallocated Assets Series resulting from the conversion of the Trust UTI concurrently with the execution and delivery of this Agreement.
Effective as of the effectiveness of the Conversion, the Trust UTI in the Titling Trust shall automatically be converted to the Unallocated Assets Series and the Leases and Leased Vehicles and other assets allocated to the Trust UTI shall automatically be allocated to and associated with the Unallocated Assets Series.
For avoidance of doubt, following delivery of such notice and request to NMAC, the Indenture Trustee shall have no responsibility or liability for the determination by NMAC whether or not to purchase or reallocate the related 2023-A Lease and the related 2023-A Vehicle from the 2023-A Series to the Unallocated Assets Series or an Other Series, or for monitoring whether or not such purchase or reallocation occurs.
The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration conducted by it, and the Servicer shall not be required to pay more than the applicable Repurchase Payment with respect to any2023-A Lease and the related 2023-A Vehicle which the Servicer is required to purchase or reallocate from the 2023-A Series to the Unallocated Assets Series or an Other Series under the terms of the Servicing Agreement.
For the avoidance of doubt the Unallocated Assets Series shall be a separate Series Interest.
Upon receipt of any written notice of a request that complies with the requirements of this Section 7.07(a), the Indenture Trustee shall forward such written notice to NMAC and request that NMAC purchase or reallocate such 2023-A Lease and the related 2023-A Vehicle from the 2023-A Series to the Unallocated Assets Series or an Other Series pursuant to Section 8.02(b) of the Servicing Agreement.