Common use of Appointment of Subservicer or Subcontractor Clause in Contracts

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 2013-1 Leases and 2013-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 2013-1 Leases and 2013-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2013-1), Financial Services (BMW Vehicle Lease Trust 2013-1)

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132015-1 2 Leases and 20132015-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132015-1 2 Leases and 20132015-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Auto Leasing LLC), Basic Servicing Agreement (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132010-1 Leases and 20132010-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132010-1 Leases and 20132010-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2010-1), Financial Services (BMW Vehicle Lease Trust 2010-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132015-1 Leases and 20132015-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132015-1 Leases and 20132015-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Auto Leasing LLC), Financial Services (BMW Vehicle Lease Trust 2015-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132024-1 Leases and 20132024-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132024-1 Leases and 20132024-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132021-1 Leases and 20132021-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132021-1 Leases and 20132021-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle (BMW Vehicle Lease Trust 2021-1), Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2021-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132022-1 Leases and 20132022-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132022-1 Leases and 20132022-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132016-1 Leases and 20132016-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132016-1 Leases and 20132016-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132014-1 Leases and 20132014-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132014-1 Leases and 20132014-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Auto Leasing LLC), Financial Services Vehicle Trust (BMW Auto Leasing LLC)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132023-1 Leases and 20132023-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132023-1 Leases and 20132023-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132017-1 2 Leases and 20132017-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132017-1 2 Leases and 20132017-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2017-2), Financial Services Vehicle Trust (BMW Vehicle Lease Trust 2017-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132016-1 2 Leases and 20132016-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132016-1 2 Leases and 20132016-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2016-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132012-1 Leases and 20132012-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132012-1 Leases and 20132012-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2012-1), Financial Services (BMW Vehicle Lease Trust 2012-1)

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Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132018-1 Leases and 20132018-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132018-1 Leases and 20132018-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services (BMW Vehicle Lease Trust 2018-1), Financial Services (BMW Vehicle Lease Trust 2018-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132023-1 2 Leases and 20132023-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132023-1 2 Leases and 20132023-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-2), Basic Servicing Agreement (BMW Vehicle Lease Trust 2023-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132017-1 Leases and 20132017-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132017-1 Leases and 20132017-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle (BMW Vehicle Lease Trust 2017-1), Financial Services Vehicle (BMW Vehicle Lease Trust 2017-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132019-1 Leases and 20132019-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132019-1 Leases and 20132019-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 2 contracts

Samples: Financial Services Vehicle (BMW Vehicle Lease Trust 2019-1), Financial Services (BMW Vehicle Lease Trust 2019-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132021-1 2 Leases and 20132021-1 2 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132021-1 2 Leases and 20132021-1 2 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2021-2)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132009-1 Leases and 20132009-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132009-1 Leases and 20132009-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Financial Services (BMW Vehicle Lease Trust 2009-1)

Appointment of Subservicer or Subcontractor. (a) The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided however, that the Servicer shall remain obligated and be liable to the Owner Trustee, the Indenture Trustee and the Securityholders for the servicing and administering of the 20132007-1 Leases and 20132007-1 Vehicles in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the 20132007-1 Leases and 20132007-1 Vehicles. The fees and expenses of any subservicer shall be as agreed between the Servicer and such subservicer from time to time, and none of the Owner Trustee, the Indenture Trustee, the Issuer or the Securityholders shall have any responsibility therefor.

Appears in 1 contract

Samples: Financial Services (BMW Vehicle Lease Trust 2007-1)

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