Common use of Cash Flows Clause in Contracts

Cash Flows. (a) Subject to Section 7.01(b) of the Titling Trust Agreement and Sections 12.04 and 12.05 hereof, and except as otherwise provided herein, in any SUBI Supplement or in any related SUBI Servicing Supplement, the Servicer or Titling Trustee shall deposit as described in Section 7.01(b) of the Titling Trust Agreement all collections and proceeds received by the Servicer with respect to any Contract or Leased Vehicle, whether from regular periodic payments by obligors under a Contract sent to a Servicer lock box or from any other payments from such obligors or any other Persons received in any other way by the Servicer. All such collections and proceeds shall be identified by the Servicer as related either to (i) Contracts and Leased Vehicles in a particular SUBI Portfolio or (ii) Contracts and Leased Vehicles remaining as part of the UTI Portfolio and shall be deposited by the Servicer into the appropriate SUBI Collection Account to the extent they relate to any SUBI Portfolio and into the UTI Collection Account (or simply paid to the UTI Beneficiary by the Servicer if the UTI Beneficiary and the Servicer are not the same person) to the extent they relate to the UTI Portfolio.

Appears in 4 contracts

Samples: Trust and Servicing Agreement (Toyota Lease Trust), Trust and Servicing Agreement (Toyota Auto Lease Trust 1997-A), Trust and Servicing Agreement (Toyota Auto Lease Trust 1997-A)

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