Bmw finance lienholder address12/20/2023 ![]() ![]() ![]() Such deposit of the Reallocation Payment shall satisfy the Servicer’s obligations to the Issuer pursuant to this Section, shall be deemed to constitute payment in full of the Reallocation Payment with respect thereto and shall cure any incorrectness of the related representation or warranty for purposes of this Servicing Supplement. The Servicer may further direct the Vehicle Trustee to cause such reallocated 2017-1 Vehicle and the related 2017-1 Lease to be conveyed to the Servicer as described in Section 2.3(h) below. If the Servicer is unable or unwilling to do so within such period, it shall promptly (i) deposit or cause to be deposited into the 2017-1 SUBI Collection Account an amount equal to the Reallocation Payment with respect to such 2017-1 Lease and (ii) direct the Vehicle Trustee to reallocate such 2017-1 Lease and the related 2017-1 Vehicle from the 2017-1 SUBI to the UTI. Within 60 days after the Servicer’s discovery of such incorrectness or receipt of the foregoing notice, the Servicer shall cure in all material respects the circumstance or condition as to which the representation or warranty was incorrect as of the date hereof. Upon discovery by the Vehicle Trustee or the Servicer or upon notice to a Responsible Officer of the Indenture Trustee that any such representation or warranty was incorrect as of the date hereof and materially and adversely affects the interests of the Issuer in the related 2017-1 Lease or 2017-1 Vehicle, the party discovering such incorrectness (if other than the Servicer) shall give prompt written notice to the Servicer. After such 2017-1 Lease and related 2017-1 Vehicle has been reallocated to the UTI, the Servicer may cause such 2017-1 Lease and 2017-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 2017-1 Lease or re-lease a 2017-1 Lease provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 2017-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or (iii) the 2017-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i), (ii) or (iii) has occurred, (x) deposit or cause to be deposited into the 2017-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 2017-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to reallocate such 2017-1 Lease and the related 2017-1 Vehicle from the 2017-1 SUBI to the UTI. Effect of Supplement on Basic Servicing Agreement Limitation of Liability of Vehicle Trustee Relationship of this Servicing Supplement to Other Basic Documents Pull-Ahead and Other Early Termination Marketing Programs Purchase of the 2017-1 SUBI Certificate Redemption of the Notes Repayment of the Trust Certificates Information to be Provided by the Servicer Appointment of Subservicer or Subcontractor ![]() Servicer Defaults Termination of Servicer Custody of Lease Documents and Certificates of Title Assessment of Compliance and Annual Accountants’ Attestation ![]() Reporting by the Servicer Delivery of Certain Documentation Contingent and Excess Liability Insurance Policies Collections and Payment Date Advance Reimbursement Representations and Reallocation of 2017-1 Leases and 2017-1 Vehicles ![]()
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