Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period: (i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 SUBI Certificate; (ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof; (iii) the amount of interest accrued during such Accrual Period on each Class of the Notes; (iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance, in each case on the day immediately preceding such Payment Date; (v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively; (vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date; (vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each; (viii) the First Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notes; (ix) the Note Factor for each Class of the Notes; (x) the aggregate amount of Residual Value Losses for such Collection Period; (xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds; (xii) any Payment Date Advance Reimbursement for such Accrual Period; (xiii) amounts released to Certificateholders; (xiv) the Servicing Fee for such Collection Period; and (xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion. (b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 2 contracts
Sources: Indenture (BMW Auto Leasing LLC), Indenture (BMW Auto Leasing LLC)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer The Issuing Entity shall cause the Servicer, Servicer to agree to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) prior to 3:00 p.m., New York City time on or prior to the tenth calendar day of each month or, if the 10th day is not a Business Day, the next succeeding Business Day, including, among other things, the following information with respect to such the Payment Date in such month and the related Collection Period and Accrual Period:
(i) the amount of SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[●]-[●] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes [and, for any Classes of Floating Rate Notes, the applicable Note Rate for the related Accrual Period for such Payment Date for such classes of Floating Rate Notes, respectively, if any];
(iv) the Class A-1 Note Balance, the Class A-2 A-2[a] Note Balance, [the Class A-2b Note Balance,] the Class A-3 Note Balance, the Class A-3 A-4 Note Balance and the Class A-4 Note Certificate Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Account Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Account Deposit Amount, if any, (C) the Reserve Fund Account Draw Amount, if any, (D) the balance on deposit in the Reserve Fund Account on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;; 58 (NALT 20[●]-[●] Indenture)
(viivi) the Note Distribution Amount for each Class of the Notes, Notes and the Certificate Distribution Amount and Amount;
(vii) the amount of the Note Distribution Amount allocable to interest for each;
(viii) on and principal of the First Priority Notes and any Principal Distribution Amount and the Regular Principal Distribution Amount Carryover Shortfall for each Class of the Notes;
(viii) the amount of any principal paid on, and Principal ▇▇▇▇▇▇▇▇▇ Shortfall for, the Trust Certificates;
(ix) the Monthly Principal Distributable Amount and the Optimal Principal Distributable Amount;
(x) the Note Factor for each Class of the NotesNotes and the Certificate Factor for the Trust Certificates after giving effect to the distribution of the Note Distribution Amount and the Certificate Distribution Amount, respectively;
(xxi) the aggregate Securitization Value of 60-Day Delinquent Leases and related leased vehicles as of that payment date;
(xii) the Delinquency Percentage;
(xiii) the Delinquency Trigger [for the related payment date];
(xiv) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period;
(xixv) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixvi) the amount of any Payment Date Advance Reimbursement for such Accrual Collection Period;
(xiiixvii) amounts released to Certificateholders[the amount of any [Net Swap][Cap] Receipts and any [Swap][Cap] Termination Payments received by the Issuing Entity from the [Swap Counterparty][Cap Provider] under the Interest Rate [Swap][Cap] Agreement(s)];
(xivxviii) [the amount of any Net Swap Payments and any Swap Termination Payments due to the Swap Counterparty under the Interest Rate Swap Agreement(s)];
(xix) the Servicing Fee for such Collection Period;
(xx) delinquency and loss information for the Collection Period;
(xxi) any material change in practices with respect to charge-offs, collection and management of delinquent Leases, and the effect of any grace period, re-aging, re-structure, partial payments or other practices on delinquency and loss experience;
(xxii) any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period;
(xxiii) any material breaches of representations, warranties or covenants contained in the Leases;
(xxiv) any new issuance of notes or other securities backed by the SUBI Assets (if applicable); and
(xvxxv) the aggregate Daily Advance Reimbursements for such Collection Periodany material additions, removals or substitutions of SUBI Assets, repurchases of SUBI Assets. Each amount set forth pursuant to clauses (iii), (iv), (viivi), (viiivii) and (xiiviii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (Nissan-Infiniti Lt)
Payment Date Certificate. (a) On Prior to 3:00 p.m., New York City time on the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City timeDate, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Indenture 41 "Payment Date Certificate”") including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) the amount of SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 20142003-1 A SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 A-3a Note Balance and Balance, the Class A-4 Note Class-3b Balance, the Certificate Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Account Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Account Deposit Amount, if any, (C) the Reserve Fund Account Draw Amount, if any, (D) the balance on deposit in the Reserve Fund Account on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viivi) the Note Distribution Amount for each Class of the Notes, Notes and the Certificate Distribution Amount and Amount;
(vii) the amount of the Note Distribution Amount allocable to interest for each;
(viii) on and principal of the First Priority Notes and any Principal Distribution Amount and the Regular Principal Distribution Amount Carryover Shortfall for each Class of the Notes;
(ixviii) the amount of any principal paid on, and Principal Carryover Shortfall for, the Trust Certificates;
(i▇) ▇▇▇ ▇▇nthly Principal Distributable Amount and the Optimal Principal Distributable Amount;
(x) the Note Factor for each Class of the NotesNotes and the Certificate Factor for the Trust Certificates after giving effect to the distribution of the Note Distribution Amount and the Certificate Distribution Amount, respectively;
(xxi) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period;
(xixii) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixiii) the amount of any Payment Date Advance Reimbursement for such Accrual Collection Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection PeriodCap Payments and/or any Cap Termination Payment received by the Issuer from the Cap Provider; andand Indenture 42
(xv) the aggregate Daily Advance Reimbursements Servicing Fee for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viivi), (viiivii) and (xiiviii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[__]-[__] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes, including LIBOR (as determined by the Indenture Trustee) for such Accrual Period;
(iv) the Class A-1 Note Balance, the Class A-2 A-2a Note Balance, the Class A-2b Note Balance, the Class A-3 Note Balance, the Class A-4 Note Balance and the Class A-4 B Note Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viii) the First Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notes;
(ix) the Note Factor for each Class of the Notes;
(x) the aggregate amount of Residual Value Losses for such Collection Period;
(xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇w▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “"Payment Date Certificate”") including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 20142000-1 A SUBI CertificateCertificates;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Senior Notes;
(iv) the amount of interest accrued during such Accrual Period on the Subordinated Notes;
(v) the amount of interest accrued during such Accrual Period on the Certificate Balance (stated separately for the Transferor Trust Certificate);
(vi) Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and Balance, the Class A-4 Note Balance, the Outstanding Amount (as defined in the Trust Agreement) of the Subordinated Notes and the Certificate Balance, in each case on the day immediately preceding such Payment Date;
(vvii) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viiix) the Senior Note Distribution Amount for each Class of the Senior Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viiix) the First Priority Monthly Principal Distribution Amount and the Regular Principal Distribution Amount and any Principal Shortfall Amount for each Class of the Senior Notes, the Subordinated Notes and the Trust Certificates;
(ixxi) the Note Factor and Certificate Factor for each Class of the NotesSenior Notes and the Trust Certificates (other than the Transferor Trust Certificate), respectively;
(xxii) the aggregate amount of Residual Value Losses for such Collection Period;
(xixiii) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixiv) any Payment Date Advance Reimbursement for such Accrual Period;
(xiiixv) amounts released to Certificateholders;the Transferor, as Subordinated Noteholder and as holder of the Transferor Trust Certificate; and
(xivxvi) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viiv), (viiivi), (ix) and (xiixi) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Senior Note, Subordinated Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014[____]-1 [_] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viii) the First Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notes;
(ix) the Note Factor for each Class of the Notes;
(x) the aggregate amount of Residual Value Losses for such Collection Period;
(xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator each Rating Agency via the Indenture Trustee’s 's internet website. The Indenture Trustee’s 's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇www. [______]”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇[______]. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (BMW Auto Leasing LLC)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014[____]-1 [_] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and Balance, the Class A-4 Note Balance and the Certificate Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viii) the First Priority Monthly Principal Distribution Amount and the Regular Principal Distribution Amount and any Principal Shortfall Amount for each Class of the NotesNotes and the Trust Certificates;
(ix) the Note Factor and Certificate Factor for each Class of the NotesNotes and the Trust Certificates (other than the Transferor Trust Certificate), respectively;
(x) the aggregate amount of Residual Value Losses for such Collection Period;
(xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to Certificateholders;the Transferor, as holder of the Transferor Trust Certificate; and
(xiv) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viiv), (viiivi), (ix) and (xiixi) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the The Indenture Trustee will make such Payment Date Certificate report (and, at its option, any additional files containing the same information in an alternative format) available each month to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), Noteholders and the Administrator Rating Agencies via the Indenture Trustee’s 's internet website. The Indenture Trustee’s 's internet website shall initially be located at “▇▇▇www.▇▇▇▇▇▇.▇▇▇/▇▇▇[________]”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling requesting such in writing sent to the customer service desk Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the The Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (BMW Auto Leasing LLC)
Payment Date Certificate. (a) On Prior to 3:00 p.m., New York City time on the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City timeDate, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “"Payment Date Certificate”") including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) the amount of SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 20142004-1 A SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 A-3a Note Balance and Balance, the Class A-4 Note Class-3b Balance, the Certificate Balance, in each case on the day immediately preceding such Payment Date;; Indenture
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Account Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Account Deposit Amount, if any, (C) the Reserve Fund Account Draw Amount, if any, (D) the balance on deposit in the Reserve Fund Account on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viivi) the Note Distribution Amount for each Class of the Notes, Notes and the Certificate Distribution Amount and Amount;
(vii) the amount of the Note Distribution Amount allocable to interest for each;
(viii) on and principal of the First Priority Notes and any Principal Distribution Amount and the Regular Principal Distribution Amount Carryover Shortfall for each Class of the Notes;
(viii) the amount of any principal paid on, and Principal ▇▇▇▇▇▇▇▇▇ Shortfall for, the Trust Certificates;
(ix) the Monthly Principal Distributable Amount and the Optimal Principal Distributable Amount;
(x) the Note Factor for each Class of the NotesNotes and the Certificate Factor for the Trust Certificates after giving effect to the distribution of the Note Distribution Amount and the Certificate Distribution Amount, respectively;
(xxi) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period;
(xixii) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixiii) the amount of any Payment Date Advance Reimbursement for such Accrual Collection Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection PeriodCap Payments and/or any Cap Termination Payment received by the Issuer from the Cap Provider; and
(xv) the aggregate Daily Advance Reimbursements Servicing Fee for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viivi), (viiivii) and (xiiviii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.. Indenture
Appears in 1 contract
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the ServicerAdministrative Agent, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “"Payment Date Certificate”") including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the 99% interest represented by the 201499% 1999-1 A SUBI CertificateCertificates and the 1% interest represented by the 1% 1999-A SUBI Certificates;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Senior Notes;
(iv) the amount of interest accrued during such Accrual Period on the Subordinated Notes;
(v) the amount of interest accrued during such Accrual Period on the Certificate Balance (stated separately for the Transferor Trust Certificate);
(vi) Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and Balance, the Class A-4 Note Balance, the Class A-5 Note Balance, the Outstanding Amount (as defined in the Trust Agreement) of the Subordinated Notes and the Certificate Balance, in each case on the day immediately preceding such Payment Date;
(vvii) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viiix) the Senior Note Distribution Amount for each Class of the Senior Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viiix) the First Priority Quarterly Principal Distribution Distributable Amount, the Optimal Principal Distributable Amount and the Regular any Principal Distribution Shortfall Amount for each Class of the Senior Notes, the Subordinated Notes and the Trust Certificates;
(ixxi) the Note Factor and Certificate Factor for each Class of the NotesSenior Notes and the Trust Certificates (other than the Transferor Trust Certificate), respectively;
(xxii) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period, the amount on deposit in the Residual Value Surplus Account and the Residual Value Surplus Draw Amount, if any, included in Available Funds (after giving effect to the distribution of the Retained Certificate Distribution Amount);
(xixiii) the amount of Special Event Purchases made during such Collection Period and the aggregate Securitization Values as of the Cutoff Date of all Specified Leases relating to Special Event Purchases made during the related calendar year or since the Closing Date;
(xiv) the amount of Sales Proceeds Advances and Monthly Payment Financial Component Advances included in Available Funds;
(xiixv) any Payment Date Advance Reimbursement for such Accrual Period;
(xiiixvi) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection PeriodTransferor, as Subordinated Noteholder and as holder of the Transferor Trust Certificate; and
(xvxvii) the aggregate Daily Advance Reimbursements Administration Fee for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viiv), (viiivi), (ix) and (xiixi) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Senior Note, Subordinated Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (Ryder Truck Rental I Lp)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to [11:00 a.m.], New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[__]-[__] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes, including the Benchmark (as determined by the Indenture Trustee) for such Accrual Period;
(iv) the Class A-1 Note Balance, the Class A-2 A-2a Note Balance, the Class A-2b Note Balance, the Class A-3 Note Balance, the Class A-4 Note Balance and the Class A-4 B Note Balance, in each case before and after giving effect to distributions on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund before and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date, (B) the Reserve Fund Requirement for such Payment Date, (C) the Reserve Fund Deposit Amount, if any, for such Payment Date and (ED) the change in Reserve Fund Draw Amount, if any, for such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for eachsuch Payment Date;
(viii) the amount of the Note Distribution Amount allocable to each Class of the Notes;
(ix) the First Priority Principal Distribution Amount, the Second Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notessuch Payment Date;
(ixx) the Note Factor for each Class of the Notes, after giving effect to the distribution of the Note Distribution Amount;
(xxi) the aggregate amount of Residual Value Losses for such Collection Period;
(xixii) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixiii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to CertificateholdersPayment Date and the amount of Daily Advance Reimbursements included therein;
(xiv) the Servicing Fee Certificate Distribution Amount for such Collection Period; andPayment Date;
(xv) the aggregate Daily Advance Reimbursements Servicing Fee for such Payment Date; and
(xvi) amounts due and payable to each of the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer, before and after giving effect to distributions from the 20[__]-[__] SUBI Collection PeriodAccount on such Payment Date. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xiiviii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicableNote. The Payment Date Certificate related to the first Collection Period will also include the disclosure required by Rule [4(c)(1)(ii)][4(c)(2)(ii)] of Regulation RR. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇[____________]”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇[___________]. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture Agreement (Financial Services Vehicle Trust)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the ServicerAdministrative Agent, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “"Payment Date Certificate”") including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the 99% interest represented by the 201499% 1999-1 A SUBI CertificateCertificates and the 1% interest represented by the 1% 1999-A SUBI Certificates;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Senior Notes;
(iv) the amount of interest accrued during such Accrual Period on the Subordinated Notes;
(v) the amount of interest accrued during such Accrual Period on the Certificate Balance (stated separately for the Transferor Trust Certificate);
(vi) Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and Balance, the Class A-4 Note Balance, the Outstanding Amount (as defined in the Trust Agreement) of the Subordinated Notes and the Certificate Balance, in each case on the day immediately preceding such Payment Date;
(vvii) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viiix) the Senior Note Distribution Amount for each Class of the Senior Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viiix) the First Priority Quarterly Principal Distribution Distributable Amount, the Optimal Principal Distributable Amount and the Regular any Principal Distribution Shortfall Amount for each Class of the Senior Notes, the Subordinated Notes and the Trust Certificates;
(ixxi) the Note Factor and Certificate Factor for each Class of the NotesSenior Notes and the Trust Certificates (other than the Transferor Trust Certificate), respectively;
(xxii) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period, the amount on deposit in the Residual Value Surplus Account and the Residual Value Surplus Draw Amount, if any, included in Available Funds (after giving effect to the distribution of the Retained Certificate Distribution Amount);
(xixiii) the amount of Special Event Purchases made during such Collection Period and the aggregate Securitization Values as of the Cutoff Date of all Specified Leases relating to Special Event Purchases made during the related calendar year or since the Closing Date;
(xiv) the amount of Sales Proceeds Advances and Monthly Payment Financial Component Advances included in Available Funds;
(xiixv) any Payment Date Advance Reimbursement for such Accrual Period;
(xiiixvi) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection PeriodTransferor, as Subordinated Noteholder and as holder of the Transferor Trust Certificate; and
(xvxvii) the aggregate Daily Advance Reimbursements Administration Fee for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (viiv), (viiivi), (ix) and (xiixi) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Senior Note, Subordinated Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate .
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (Ryder Truck Rental I Lp)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[__]-[__] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes, including LIBOR (as determined by the Indenture Trustee) for such Accrual Period;
(iv) the Class A-1 Note Balance, the Class A-2 A-2a Note Balance, the Class A-2b Note Balance, the Class A-3 Note Balance, the Class A-4 Note Balance and the Class A-4 B Note Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viii) the First Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notes;
(ix) the Note Factor for each Class of the Notes;
(x) the aggregate amount of Residual Value Losses for such Collection Period;
(xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date Date, prior to 11:00 a.m.[___] [a.m.][p.m.], New York City time, the Issuer shall cause the ServicerAdministrative Agent, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee Trustee, [the Swap Counterparty] and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 SUBI CertificatePeriod;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) item of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 A-2a Note Balance, the Class A-3 A-2b Note Balance and the Class A-4 B-1 Note Balance, the Note Outstanding Amount (as defined in the Trust Agreement), in each case on the day immediately preceding such Payment Date and immediately following distribution of the Note Distribution Amount on such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, Notes and the Certificate Distribution Amount and the amount portion thereof allocable to interest for each;
(viii) the First Priority Quarterly Principal Distributable Amount, the Principal Distribution Amount, the Optimal Principal Distributable Amount and the Regular any Principal Distribution Amount Carryover Shortfall for each Class of the Notes;
(ix) the Note Factor for each Class of the Notes;
(x) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period;
(xi) the amount of Special Event Purchases made during such Collection Period and the aggregate Securitization Value as of the Cutoff Date of all [___]-[_] Leases relating to Special Event Purchases made during the related calendar year or since the Closing Date;
(xii) the amount of Sales Proceeds Advances and Monthly Payment Financial Component Advances included in Available Funds;
(xiixiii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiiixiv) amounts released to Certificateholdersthe Transferor, as holder of the Trust Certificate;
(xivxv) the Servicing Administration Fee for such Collection Period;
(xvi) [the Swap Payments Outgoing, Swap Payments Incoming, Senior Swap Termination Payments and Subordinate Swap Termination Payments for such Payment Date;]
(xvii) the related turn-in rates and the Residual Value realization rates for the [___]-[_] Leases and [___]-[_] Vehicles for such Collection Period;
(xviii) the Record Date, the Interest Determination Date and the Accrual Period for the Notes;
(xix) [the interest rate relating to the Payment Date for the Class A-2b Notes;]
(xx) the pool characteristics as of the last day of such Collection Period;
(xxi) delinquency and loss information for such Collection Period;
(xxii) any material modifications, extensions or waivers to the terms of the [___]-[_] Leases; and
(xvxxiii) any breaches of representations or warranties related to the aggregate Daily Advance Reimbursements for such Collection Period[___]-[_] Leases or [___]-[_] Vehicles that are material to the Noteholders. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xiixiii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate Note.
(and, at its option, any additional files containing the same information in an alternative formatb) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (Ryder Truck Rental Lt)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer The Issuing Entity shall cause the Servicer, Servicer to agree to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) prior to 3:00 p.m., New York City time on or prior to the tenth calendar day of each month or, if the 10th day is not a Business Day, the next succeeding Business Day, including, among other things, the following information with respect to such the Payment Date in such month and the related Collection Period and Accrual Period:
(i) the amount of SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[●]-[●] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes [and, for any Classes of Floating Rate Notes, the applicable Note Rate for the related Accrual Period for such Payment Date for such classes of Floating Rate Notes, respectively, if any];
(iv) the Class A-1 Note Balance, the Class A-2 A-2[a] Note Balance, [the Class A-2[b] Note Balance,] the Class A-3 Note Balance, the Class A-3 A-4 Note Balance Balance, and the Class A-4 Note Certificate Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Account Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Account Deposit Amount, if any, (C) the Reserve Fund Account Draw Amount, if any, (D) the balance on deposit in the Reserve Fund Account on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(viivi) the Note Distribution Amount for each Class of the Notes, Notes and the Certificate Distribution Amount and Amount;
(vii) the amount of the Note Distribution Amount allocable to interest for each;
(viii) on and principal of the First Priority Notes and any Principal Distribution Amount and the Regular Principal Distribution Amount Carryover Shortfall for each Class of the Notes; 55 (NALT 20[●]-[●] Indenture)
(viii) the amount of any principal paid on, and Principal ▇▇▇▇▇▇▇▇▇ Shortfall for, the Trust Certificates;
(ix) the Monthly Principal Distributable Amount and the Optimal Principal Distributable Amount;
(x) the Note Factor for each Class of the NotesNotes and the Certificate Factor for the Trust Certificates after giving effect to the distribution of the Note Distribution Amount and the Certificate Distribution Amount, respectively;
(xxi) the aggregate Securitization Value of 60-Day Delinquent Leases and related leased vehicles as of that payment date;
(xii) the Delinquency Percentage;
(xiii) the Delinquency Trigger for the related payment date;
(xiv) the aggregate amount of Residual Value Losses and Residual Value Surplus for such Collection Period;
(xixv) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xiixvi) the amount of any Payment Date Advance Reimbursement for such Accrual Collection Period;
(xiiixvii) amounts released to Certificateholders[the amount of any [Net Swap Receipts][Cap Receipts] and any [Swap][Cap] Termination Payments received by the Issuing Entity from the [Swap Counterparty][Cap Provider] under the Interest Rate [Swap][Cap] Agreement(s)];
(xivxviii) [the amount of any Net Swap Payments and any Swap Termination Payments due to the Swap Counterparty under the Interest Rate Swap Agreement(s)];
(xix) the Servicing Fee for such Collection Period; and;
(xvxx) delinquency and loss information for the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant ;
(xxi) any material change in practices with respect to clauses (iii)charge-offs, (iv), (vii), (viii) collection and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 management of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein)delinquent Leases, and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy effect of any information provided grade period, re-aging, re-structure, partial payments or other practices on delinquency and loss experience;
(xxii) any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period;
(xxiii) any material breaches of representations, warranties or covenants contained in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.Leases;
(bxxiv) Neither any new issuance of notes or other securities backed by the Indenture Trustee nor the Paying Agent shall have SUBI Assets (if applicable); (xxv) any duty material additions, removals or obligation to verify or confirm the accuracy substitutions of any SUBI Assets, repurchases of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.SUBI Assets; and
Appears in 1 contract
Sources: Indenture (Nissan-Infiniti Lt)
Payment Date Certificate. (a) On the second Business Day preceding each Payment Date prior to 11:00 a.m., New York City time, the Issuer shall cause the Servicer, to deliver to the Vehicle Trustee, the Indenture Trustee, the Owner Trustee and each Paying Agent hereunder or under the Trust Agreement, a certificate (the “Payment Date Certificate”) including, among other things, the following information with respect to such Payment Date and the related Collection Period and Accrual Period:
(i) SUBI Collections for such Collection Period and the amounts allocable to the interest represented by the 2014-1 20[__]-[__] SUBI Certificate;
(ii) Available Funds, including amounts with respect to each of items (i) through (iv) of the definition thereof;
(iii) the amount of interest accrued during such Accrual Period on each Class of the Notes;
(iv) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance, in each case on the day immediately preceding such Payment Date;
(v) the aggregate amount of SUBI Collections deposited into the Note Distribution Account and the Certificate Distribution Account, respectively;
(vi) (A) the amount on deposit in the Reserve Fund and the Reserve Fund Requirement, each as of the beginning and end of the related Collection Period and as of the previous Payment Date, (B) the Reserve Fund Deposit Amount, if any, (C) the Reserve Fund Draw Amount, if any, (D) the balance on deposit in the Reserve Fund on such Payment Date after giving effect to withdrawals therefrom and deposits thereto in respect of such Payment Date and (E) the change in such balance from the immediately preceding Payment Date;
(vii) the Note Distribution Amount for each Class of the Notes, the Certificate Distribution Amount and the amount allocable to interest for each;
(viii) the First Priority Principal Distribution Amount and the Regular Principal Distribution Amount for each Class of the Notes;
(ix) the Note Factor for each Class of the Notes;
(x) the aggregate amount of Residual Value Losses for such Collection Period;
(xi) the amount of Sales Proceeds Advances and Monthly Payment Advances included in Available Funds;
(xii) any Payment Date Advance Reimbursement for such Accrual Period;
(xiii) amounts released to Certificateholders;
(xiv) the Servicing Fee for such Collection Period; and
(xv) the aggregate Daily Advance Reimbursements for such Collection Period. Each amount set forth pursuant to clauses (iii), (iv), (vii), (viii) and (xii) above shall be expressed in the aggregate and as a dollar amount per $1,000 of original principal balance of a Note or Trust Certificate, as applicable. On each Payment Date, the Indenture Trustee will make such Payment Date Certificate (and, at its option, any additional files containing the same information in an alternative format) available to each Person that was a Noteholder as of the close of business on the related Record Date (which shall be Cede & Co. as the nominee of DTC unless Definitive Notes are issued under the limited circumstances described herein), and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇w▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Indenture. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided in the information set forth in the Payment Date Certificate and may affix thereto any disclaimer it deems appropriate in its reasonable discretion.
(b) Neither the Indenture Trustee nor the Paying Agent shall have any duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Payment Date Certificate delivered to the Indenture Trustee and the Paying Agent in accordance with this Section, and each of the Indenture Trustee and the Paying Agent shall be fully protected in relying upon such Payment Date Certificate.
Appears in 1 contract
Sources: Indenture (BMW Auto Leasing LLC)