Examples of SUBI Collection Account in a sentence
The purchase price for the 20[__]-[__] SUBI Certificate shall equal the unpaid principal balances of the Notes, together with accrued interest thereon to the Redemption Date (the “Optional Purchase Price”), which amount shall be deposited by the Servicer into the 20[__]-[__] SUBI Collection Account on the Deposit Date relating to the Redemption Date.
Notwithstanding anything to the contrary contained in this Servicing Supplement, for so long as BMW FS is the Servicer, the Servicer shall be permitted to deposit into the 20[__]-[__] SUBI Collection Account only the net amount distributable to the Issuer, as holder of the 20[__]-[__] SUBI Certificate, on the related Deposit Date.
If the Monthly Remittance Condition is not satisfied, SUBI Collections will be deposited into the 20[__]-[__] SUBI Collection Account within two Business Days of receipt.
Notwithstanding anything herein to the contrary, so long as BMW FS is the Servicer, BMW FS may withhold from the deposit into the 20[__]-[__] SUBI Collection Account any amounts indicated on the related Payment Date Certificate as being due and payable to the Servicer.
The 2015-1 SUBI Collection Account initially shall be established with the corporate trust department of U.S. Bank National Association, as Indenture Trustee.