Common use of SUBI Assets Clause in Contracts

SUBI Assets. The Vehicle Trustee and the other parties hereto shall reasonably cooperate with the Owner Trustee or the Indenture Trustee, as applicable, to cause the related 2015-1 Vehicles to be retitled as directed by the purchaser. Following such sale, this Supplement shall terminate and the 2015-1 SUBI shall be terminated; provided however such termination shall affect the Vehicle Trust only insofar as such termination relates to the 2015-1 SUBI. Such termination shall not entitle the legal representatives of the 2015-1 SUBI or any Holder of the 2015-1 SUBI Certificate to take any action for a partition or winding up of the Trust or any Trust Assets except with respect to the 2015-1 SUBI Assets and the rights, obligations and liabilities of the parties hereto shall not otherwise be affected. Promptly after the occurrence of any bankruptcy, insolvency or termination proceeding with respect to the Issuer, the Issuer shall give the Indenture Trustee, the Owner Trustee and the Vehicle Trustee written notice of such event, and, with respect to the Rating Agencies, shall make such written notice available to each Rating Agency. Pursuant to the Indenture, the proceeds of a sale of the 2015-1 SUBI Assets shall be distributed by the Indenture Trustee, as set forth in Section 5.04 of the Indenture.

SUBI Assets. The Vehicle Trustee and the other parties hereto shall reasonably cooperate with the Owner Trustee or the Indenture Trustee, as applicable, to cause the related 20152012-1 Vehicles to be retitled as directed by the purchaser. Following such sale, this Supplement shall terminate and the 20152012-1 SUBI shall be terminated; provided however such termination shall affect the Vehicle Trust only insofar as such termination relates to the 20152012-1 SUBI. Such termination shall not entitle the legal representatives of the 20152012-1 SUBI or any Holder of the 20152012-1 SUBI Certificate to take any action for a partition or winding up of the Trust or any Trust Assets except with respect to the 20152012-1 SUBI Assets and the rights, obligations and liabilities of the parties hereto shall not otherwise be affected. Promptly after the occurrence of any bankruptcy, insolvency or termination proceeding with respect to the Issuer, the Issuer shall give the Indenture Trustee, the Owner Trustee and the Vehicle Trustee written notice of such event, and, with respect to the Rating Agencies, shall make such written notice available to each Rating Agency. Pursuant to the Indenture, the proceeds of a sale of the 20152012-1 SUBI Assets shall be distributed by the Indenture Trustee, as set forth in Section 5.04 of the Indenture.

SUBI Assets. The Vehicle Trustee and the other parties hereto shall reasonably cooperate with the Owner Trustee or the Indenture Trustee, as applicable, to cause the related 20152010-1 Vehicles to be retitled as directed by the purchaser. Following such sale, this Supplement shall terminate and the 20152010-1 SUBI shall be terminated; provided however such termination shall affect the Vehicle Trust only insofar as such termination relates to the 20152010-1 SUBI. Such termination shall not entitle the legal representatives of the 20152010-1 SUBI or any Holder of the 20152010-1 SUBI Certificate to take any action for a partition or winding up of the Trust or any Trust Assets except with respect to the 20152010-1 SUBI Assets and the rights, obligations and liabilities of the parties hereto shall not otherwise be affected. Promptly after the occurrence of any bankruptcy, insolvency or termination proceeding with respect to the Issuer, the Issuer shall give the Indenture Trustee, the Owner Trustee and the Vehicle Trustee written notice of such event, and, with respect to the Rating Agencies, shall make such written notice available to each Rating Agency. Pursuant to the Indenture, the proceeds of a sale of the 20152010-1 SUBI Assets shall be distributed by the Indenture Trustee, as set forth in Section 5.04 of the Indenture.

SUBI Assets. The Vehicle Trustee and the other parties hereto shall reasonably cooperate with the Owner Trustee or the Indenture Trustee, as applicable, to cause the related 20152009-1 Vehicles to be retitled as directed by the purchaser. Following such sale, this Supplement shall terminate and the 20152009-1 SUBI shall be terminated; provided however such termination shall affect the Vehicle Trust only insofar as such termination relates to the 20152009-1 SUBI. Such termination shall not entitle the legal representatives of the 20152009-1 SUBI or any Holder of the 20152009-1 SUBI Certificate to take any action for a partition or winding up of the Trust or any Trust Assets except with respect to the 20152009-1 SUBI Assets and the rights, obligations and liabilities of the parties hereto shall not otherwise be affected. Promptly after the occurrence of any bankruptcy, insolvency or termination proceeding with respect to the Issuer, the Issuer shall give the Indenture Trustee, the Owner Trustee, the Vehicle Trustee and the Vehicle Trustee Rating Agencies written notice of such event, and, with respect to the Rating Agencies, shall make such written notice available to each Rating Agency. Pursuant to the Indenture, the proceeds of a sale of the 20152009-1 SUBI Assets shall be distributed by the Indenture Trustee, as set forth in Section 5.04 of the Indenture.

SUBI Assets. The Vehicle Trustee and the other parties hereto shall reasonably cooperate with the Owner Trustee or the Indenture Trustee, as applicable, to cause the related 20152007-1 Vehicles to be retitled as directed by the purchaser. Following such sale, this Supplement shall terminate and the 20152007-1 SUBI shall be terminated; provided however such termination shall affect the Vehicle Trust only insofar as such termination relates to the 20152007-1 SUBI. Such termination shall not entitle the legal representatives of the 20152007-1 SUBI or any Holder of the 20152007-1 SUBI Certificate to take any action for a partition or winding up of the Trust or any Trust Assets except with respect to the 20152007-1 SUBI Assets and the rights, obligations and liabilities of the parties hereto shall not otherwise be affected. Promptly after the occurrence of any bankruptcy, insolvency or termination proceeding with respect to the Issuer, the Issuer shall give the Indenture Trustee, the Owner Trustee, the Vehicle Trustee and the Vehicle Trustee Rating Agencies written notice of such event, and, with respect to the Rating Agencies, shall make such written notice available to each Rating Agency. Pursuant to the Indenture, the The proceeds of a such sale of the 2015-1 SUBI Assets shall be distributed by the Indenture Trustee, as set forth in Section 5.04 of the Indenture.