UTI Beneficiary definition

UTI Beneficiary means NILT Trust, in its capacity as the initial beneficiary of the Titling Trust.

UTI Beneficiary has the meaning set forth in the Preamble.

UTI Beneficiary has the meaning set forth in the Recitals.

Examples of UTI Beneficiary in a sentence

• Under the Vehicle Trust Agreement, from time to time the UTI Beneficiary may direct the Vehicle Trustee to issue to or upon the order of the UTI Beneficiary one or more certificates (each, a “SUBI Certificate”) representing a beneficial interest in certain specified Vehicles, Leases and related Trust Assets (such assets, the “SUBI Assets”).

• Pursuant to a SUBI certificate transfer agreement, dated as of the Closing Date (the “SUBI Certificate Transfer Agreement”), between the Depositor and the UTI Beneficiary, the UTI Beneficiary will sell the SUBI Certificate to the Depositor.

• The UTI Beneficiary was formed under the laws of Indiana pursuant to a limited partnership agreement, dated February 12, 1996 (the “Partnership Agreement”), between BMW Facility Partners, Inc., a Delaware corporation (predecessor in interest to BMW Facility Partners, LLC (“BMW Facility Partners”), a Delaware limited liability company), as the sole general partner (the “BMW LP General Partner”), and BMW Financial Services, as the sole limited partner.

• 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.

• To the extent a representation or warranty specifically relates to the UTI Beneficiary or the Vehicle Trust, BMW Financial Services will also make certain representations and warranties, as described below, with respect to the UTI Beneficiary and the Vehicle Trust.

More Definitions of UTI Beneficiary

UTI Beneficiary means BMW Manufacturing L.P., in its capacity as initial Beneficiary of the Vehicle Trust, and its permitted successors and assigns.

UTI Beneficiary means TMCC, in its capacity as the initial beneficiary of the Titling Trust on the date of the UTI Supplement, and its successors and assigns (exclusive of any pledgee of a UTI Pledge).

UTI Beneficiary means GE Capital Title Holding Corp., in its capacity as UTI beneficiary of the Trust.

UTI Beneficiary means GECCI, as beneficiary of the UTI.]

UTI Beneficiary means (i) Ryder Truck Rental I LP or Ryder Truck Rental II LP, each a Delaware limited partnership, each in its capacity as an initial beneficiary of the Trust, and its permitted successors and assigns or (ii) any other UTI Beneficiary that becomes a party to this Agreement pursuant to Section 7.03(b).

UTI Beneficiary means (i) NILT Trust in its capacity as initial beneficiary of the Trust and its permitted successors and assigns or (ii) any other UTI Beneficiary that becomes a party to this Agreement pursuant to Sections 3.04(a)(ii) and 7.03(b).

UTI Beneficiary means Ryder Truck Rental I LP or Ryder Truck Rental II LP, each in its capacity as an initial Beneficiary of the Origination Trust, and its successors and permitted assigns.