Common use of Pull-Ahead and Other Early Termination Marketing Programs Clause in Contracts

Pull-Ahead and Other Early Termination Marketing Programs. The Servicer may, in its discretion, with respect to any 20[__]-[__] Lease, permit the Lessee under the related 20[__]-[__] Lease to terminate such 20[__]-[__] Lease prior to its scheduled termination date as part of a “pull-ahead” or other marketing program; provided, however, that such early termination shall not be permitted unless all Pull-Ahead Amounts due and payable by the Lessee under such 20[__]-[__] Lease on or before the date of such Lessee’s election to terminate the 20[__]-[__] Lease have been paid by or on behalf of such Lessee and are deposited in the 20[__]-[__] SUBI Collection Account within the time period thereafter stated in Section 2.4 of this Servicing Supplement. Following such early termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Use Payments and Excess Mileage Payments in accordance with customary servicing practices with respect to Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

Appears in 3 contracts

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

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Pull-Ahead and Other Early Termination Marketing Programs. The Servicer may, in its discretion, with respect to any 20[__]-[__] Lease, permit the Lessee under the related 20[__]-[__] Lease to terminate such 20[__]-[__] Lease prior to its scheduled termination date as part of a “pull-ahead” or other marketing program; provided, however, that such early termination shall not be permitted unless all Pull-Ahead Amounts due and payable by the Lessee under such 20[__]-[__] Lease on or before the date of such Lessee’s election to terminate the 20[__]-[__] Lease have been paid by or on behalf of such Lessee and are deposited in the 20[__]-[__] SUBI Collection Account within the time period thereafter stated in Section 2.4 of this Servicing Supplement. Following such early termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Use Payments and Excess Mileage Payments in accordance with customary servicing practices with respect to 20[__]-[__] Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

Appears in 2 contracts

Samples: Financial Services (Financial Services Vehicle Trust), Basic Servicing Agreement (Financial Services Vehicle Trust)

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Pull-Ahead and Other Early Termination Marketing Programs. The Servicer may, in its discretion, with respect to any 20[__]-[____]-[_] Lease, permit the Lessee under the related 20[__]-[____]-[_] Lease to terminate such 20[__]-[____]-[_] Lease prior to its scheduled termination date as part of a “pull-ahead” or other marketing program; provided, however, that such early termination shall not be permitted unless all Pull-Ahead Amounts due and payable by the Lessee under such 20[__]-[____]-[_] Lease on or before the date of such Lessee’s election to terminate the 20[__]-[____]-[_] Lease have been paid by or on behalf of such Lessee and are deposited in the 20[__]-[____]-[_] SUBI Collection Account within the time period thereafter stated in Section 2.4 of this Servicing Supplement. Following such early termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Use Payments and Excess Mileage Payments in accordance with customary servicing practices with respect to Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

Appears in 1 contract

Samples: Servicing Agreement (BMW Auto Leasing LLC)

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