SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish with the Securities Intermediary and the Indenture Trustee shall maintain the 2024-1 SUBI Collection Account. In the event the 2024-1 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 2024-1 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.
Appears in 2 contracts
Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2024-1)
SUBI Collection Account. Pursuant to Section 8.02(c) of the Indenture, the Issuer shall establish with the Securities Intermediary and the Indenture Trustee shall maintain the 20242022-1 SUBI Collection Account. In the event the 20242022-1 SUBI Collection Account ceases to be held at an Eligible Institution, the Servicer shall assist the Indenture Trustee as necessary to establish a new 20242022-1 SUBI Collection Account in accordance with Section 8.02(c) of the Indenture.
Appears in 2 contracts
Samples: Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1), Basic Servicing Agreement (BMW Vehicle Lease Trust 2022-1)
