Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be deposited an amount equal to the Reserve Account Deposit into the Reserve Account from the net proceeds of the sale of the Notes. The Reserve Account shall be an asset of the Issuer.
Appears in 40 contracts
Samples: Sale and Servicing Agreement (Hyundai Auto Receivables Trust 2017-B), Sale and Servicing Agreement (Hyundai Auto Receivables Trust 2017-B), Sale and Servicing Agreement (Hyundai Abs Funding LLC)
Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. The Reserve Account shall be an asset of the Issuer. Funds on deposit in the Reserve Account may be invested, as described in Section 5.01(d) of this Agreement.
Appears in 25 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 Fs Securities LLC)
Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. The Reserve Account shall be an asset of the Issuer.
Appears in 6 contracts
Samples: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC)
Reserve Account. (a) On or prior to the Closing Date, Date the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the NotesSecurities. The Reserve Account shall be an asset of the Issuer.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (National City Auto Receivables Trust 2002-A), Sale and Servicing Agreement (Regions Auto Receivables Trust 2002-1), Sale and Servicing Agreement (National City Auto Receivables Trust 2004-A)
Reserve Account. (a) On or prior to the Closing Date, Date the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the NotesSecurities. The Reserve Account shall be an asset of the Issuer.
Appears in 3 contracts
Samples: Form of Sale and Servicing Agreement (National City Bank /), Sale and Servicing Agreement (SSB Vehicle Sec Huntington Auto Trust 2000-A), Form of Sale and Servicing Agreement (Regions Acceptance LLC)
Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the NotesSecurities. Deposits shall also be made on each Subsequent Transfer Date as provided in Section 5.09 hereof. The Reserve Account shall be an asset of the Issuer.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2001-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2001-A)
Reserve Account. (a) On or prior to the Closing Date, Date the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. The Reserve Account shall be an asset of the Issuer.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2), Sale and Servicing Agreement (Regions Auto Receivables Trust 2003-1)
Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the NotesSecurities. The Reserve Account shall be an asset of the Issuer.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2002-A), Sale and Servicing Agreement (SSB Vehicle Securities Inc BMW Vehicle Owner Trust 1999-A)
Reserve Account. (a) On or prior to the Closing Date, Date the Issuer shall cause to be have deposited an amount equal to the Reserve Account Deposit Required Amount into the Reserve Account from the net proceeds of the sale of the NotesSecurities. The Reserve Account shall be an asset of the Issuer.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Fifth Third Auto Trust 2004-A)
Reserve Account. (a) On or prior to the Closing Date, the Issuer shall cause to be have deposited an amount equal to the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. The Reserve Account shall be an asset of the Issuer.
Appears in 1 contract
Samples: Sale and Servicing Agreement (SSB Vehicle Securities Inc)
