Common use of Advances by the Servicer Clause in Contracts

Advances by the Servicer. (a) By the close of business on the Determination Date, the Servicer shall deposit into the Collection Account, out of its own funds, the related Advance: provided, however, that if such Advance involves an Obligor who is covered by the Servicemembers Civil Relief Act, the Servicer shall not be required to make an Advance.

Appears in 16 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2019-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2019-A), Sale and Servicing Agreement (BMW Fs Securities LLC)

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Advances by the Servicer. (a) By the close of business on the Determination Date, the Servicer shall deposit into the Collection Account, out of its own funds, the related Advance: ; provided, however, that if such Advance involves an Obligor who is covered by the Servicemembers Civil Relief Act, the Servicer shall not be required to make an Advance.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2022-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2022-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2023-A)

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