SEC Contract Filing

Filing Date: 2024-02-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>12
<FILENAME>exhibit10-11.htm
<DESCRIPTION>CONTROL AGREEMENT
<TEXT>
<html>
 <head>
 <title></title>
 <!-- Licensed to: Morgan Lewis
 Document created using Broadridge PROfile 23.12.1.5186
 Copyright 1995 - 2024 Broadridge -->
 </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
 <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.11</font><br>
 </div>
 <div> <br>
 </div>
 <div> <br>
 </div>
 <div> <br>
 </div>
 <div> <br>
 </div>
 <div>
 <div>
 <div>&#160;</div>
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

 <tr>
 <td style="border-bottom: 3px double #000000; width: 100%;">
 <div>&#160;</div>
 </td>
 </tr>

 </table>
 </div>
 <div>&#160;</div>
 <div> <br>
 </div>
 <div><br>
 </div>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';">BMW VEHICLE LEASE TRUST 2024-1,<br>
 as Issuer,</div>
 <div>&#160;</div>
 <div> <br>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';">U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,<br>
 not in its individual capacity but solely as Indenture Trustee</div>
 <div style="text-align: center; font-family: 'Times New Roman';">and as Secured Party,</div>
 <div>&#160;</div>
 <div> <br>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';">and</div>
 <div>&#160;</div>
 <div> <br>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';">U.S. BANK NATIONAL ASSOCIATION,</div>
 <div style="text-align: center; font-family: 'Times New Roman';">as Securities Intermediary</div>
 <div>&#160;<br>
 <div><br>
 <div><br>
 </div>
 <div><br>
 </div>
 <div><br>
 </div>
 <br>
 </div>
 <br>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></div>
 <div>&#160;</div>
 <div style="text-align: center; font-family: 'Times New Roman';">FORM OF CONTROL AGREEMENT</div>
 <div>&#160;</div>
 <div style="text-align: center; font-family: 'Times New Roman';">Dated as of February 14, 2024</div>
 <div>&#160;</div>
 <div style="text-align: center; font-family: 'Times New Roman';"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></div>
 <div>
 <div>
 <div><br>
 </div>
 <div>&#160;</div>
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

 <tr>
 <td style="border-bottom: 3px double #000000; width: 100%;">
 <div>&#160;</div>
 </td>
 </tr>

 </table>
 </div>
 <div>&#160;</div>
 </div>
 <div><br>
 </div>
 <div><br>
 </div>
 </div>
 <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
 <div style="page-break-after: always;" class="BRPFPageBreak">
 <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
 </div>
 <div style="text-align: center; font-family: 'Times New Roman';">TABLE OF CONTENTS</div>
 <div><br>
 </div>
 <div style="text-align: right; font-family: 'Times New Roman';"><u>Page</u></div>
 <div><br>
 </div>
 <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zac21d70e21f849afb05a2be160260702" border="0" cellpadding="4" cellspacing="0">

 <tr>
 <td style="width: 90pt; vertical-align: top;">
 <div style="margin-right: 3.65pt; font-family: 'Times New Roman';">ARTICLE ONE</div>
 </td>
 <td style="width: auto; vertical-align: top;">
 <div style="margin-right: 3.65pt; font-family: 'Times New Roman';">DEFINITIONS</div>
 </td>
 <td style="width: 50pt; vertical-align: bottom; text-align: right;">
 <div style="font-family: 'Times New Roman';">1</div>
 </td>
 </tr>
 <tr>
 <td style="width: 90pt; vertical-align: top;">
 <div style="margin-left: 35.4pt; font-family: 'Times New Roman';">Section 1.01.</div>
 </td>
 <td style="width: auto; vertical-align: top;">
 <div style="margin-left: 35.4pt; font-family: 'Times New Roman';">General Definitions</div>
 </td>
 <td style="width: 50pt; vertical-align: bottom; text-align: right;">
 <div style="font-family: 'Times New Roman';">1</div>
 </td>
 </tr>
 <tr>
 <td style="width: 90pt; vertical-align: top;">
 <div style="margin-left: 35.4pt; font-family: 'Times New Roman';">Section 1.02.</div>
 </td>
 <td style="width: auto; vertical-align: top;">
 <div style="margin-left: 35.4pt; font-family: 'Times New Roman';">Incorporation of UCC by Reference</div>
 </td>
 <td style="width: 50pt; vertical-align: bottom; text-align: right;">
 <div style="font-family: 'Times New Roman';">2</div>
 </td>
 </tr>
 <tr>
 <td style="width: 90pt; vertical-align: top;">
 <div style="margin-right: 3.65pt; font-family: 'Times New Roman';">ARTICLE TWO</div>
 </td>
 <td style="width: auto; vertical-align: top;">
 <div style="margin-right: 3.65pt; font-family: 'Times New Roman';">ESTABLISHMENT OF CONTROL OVER SECURITIES ACCOUNTS</div>
 </td>
 <td style="width: 50pt; vertical-align: bottom; text-align: right;">
 <div style="font-family: 'Times New Roman';">3<br>
 </div>
 </td>
 </tr>
 <tr>
 <td style="width: 90pt;