Control of the Bank Accounts. Each of the Bank Accounts with respect to the 2011-A Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 2011-A Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 2011-A Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 2011-A Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 2011-A Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 2011-A Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 2011-A Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 2011-A Exchange Note, and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2011-A), Servicing Supplement (Ford Credit Auto Lease Trust 2011-A)
Control of the Bank Accounts. Each of the Bank Accounts with respect to for the 20112014-A B Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112014-A B Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112014-A B Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112014-A B Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to under the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112014-A B Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112014-A B Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon on the terms and conditions of the 20112014-A B Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112014-A B Exchange Note, Note and (iii) thereafter then, by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2014-B), Servicing Supplement (Ford Credit Auto Lease Trust 2014-B)
Control of the Bank Accounts. Each of the Bank Accounts with respect to for the 20112015-A Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112015-A Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112015-A Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112015-A Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to under the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112015-A Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112015-A Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon on the terms and conditions of the 20112015-A Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112015-A Exchange Note, Note and (iii) thereafter then, by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2015-A), Servicing Agreement (Ford Credit Auto Lease Trust 2015-A)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 20112013-A B Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112013-A B Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112013-A B Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112013-A B Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112013-A B Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112013-A B Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 20112013-A B Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112013-A B Exchange Note, Note and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2013-B), Servicing Agreement (Ford Credit Auto Lease Trust 2013-B)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 20112013-A Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112013-A Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112013-A Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112013-A Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112013-A Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112013-A Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 20112013-A Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112013-A Exchange Note, Note and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2013-A), Servicing Supplement (Ford Credit Auto Lease Trust 2013-A)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 20112012-A Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112012-A Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112012-A Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112012-A Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112012-A Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112012-A Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 20112012-A Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112012-A Exchange Note, and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2012-A), Servicing Agreement (Ford Credit Auto Lease Trust 2012-A)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 20112012-A B Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112012-A B Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112012-A B Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112012-A B Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112012-A B Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112012-A B Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 20112012-A B Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112012-A B Exchange Note, Note and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2012-B), Servicing Supplement (Ford Credit Auto Lease Trust 2012-B)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 20112014-A Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112014-A Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112014-A Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112014-A Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112014-A Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112014-A Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 20112014-A Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112014-A Exchange Note, Note and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2014-A), Servicing Agreement (Ford Credit Auto Lease Trust 2014-A)
Control of the Bank Accounts. Each of the Bank Accounts with respect to for the 20112015-A B Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 20112015-A B Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 20112015-A B Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 20112015-A B Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to under the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 20112015-A B Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 20112015-A B Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon on the terms and conditions of the 20112015-A B Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 20112015-A B Exchange Note, Note and (iii) thereafter then, by the Borrowers.
Appears in 2 contracts
Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2015-B), Servicing Agreement (Ford Credit Auto Lease Trust 2015-B)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 2011-A B Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 2011-A B Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 2011-A B Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 2011-A B Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 2011-A B Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 2011-A B Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 2011-A B Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 2011-A B Exchange Note, and (iii) thereafter by the Borrowers.
Appears in 2 contracts
Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2011-B), Servicing Agreement (Ford Credit Auto Lease Trust 2011-B)
Control of the Bank Accounts. Each of the Bank Accounts with respect to for the 2011-A 20__-_ Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 2011-A 20__-_ Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 2011-A 20__-_ Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 2011-A 20__-_ Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to under the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 2011-A 20__-_ Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 2011-A 20__-_ Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon on the terms and conditions of the 2011-A 20__-_ Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 2011-A 20__-_ Exchange Note, Note and (iii) thereafter then, by the Borrowers.
Appears in 1 contract
Samples: Servicing Supplement (CAB West LLC)
Control of the Bank Accounts. Each of the Bank Accounts with respect to the 2011-A 20_-__ Reference Pool will be under the sole dominion and control of the Indenture Trustee, as secured party for the benefit of the 2011-A 20_-__ Secured Parties, so long as the Bank Accounts remain subject to the Lien of the Indenture; provided, that, (i) following the payment in full of the Notes and the release of the Bank Accounts from the Lien of the Indenture, the Exchange Note Collection Account will be under the sole dominion and control of the Collateral Agent and (ii) following the payment in full of the 2011-A 20_-__ Exchange Note, the Exchange Note Collection Account will be under the sole dominion and control of the Borrowers. However, the Servicer may make deposits to or request the Indenture Trustee (or, after the Note Balance of the Notes has been reduced to zero, the Collateral Agent, and following the payment in full of the 2011-A 20_-__ Exchange Note, the Borrowers) to make deposits to or withdrawals from the Exchange Note Collection Account in accordance with the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement and this Servicing Supplement. All monies deposited in the Exchange Note Collection Account pursuant to the Exchange Note Supplement, the Credit and Security Agreement, the Servicing Agreement or this Servicing Supplement will be held (i) until the Note Balance of the Notes has been reduced to zero and the Bank Accounts have been released from the Lien under the Indenture, by the Indenture Trustee, (ii) until the payment in full of the 2011-A 20_-__ Exchange Note, by the Collateral Agent and (iii) following the payment in full of the 2011-A 20_-__ Exchange Note, by or on behalf of the Borrowers, and in each case will be applied only upon the terms and conditions of the 2011-A 20_-__ Basic Documents, as applicable. The authority of the Servicer to make deposits to the Bank Accounts is revocable at any time (i) by the Indenture Trustee until the Note Balance of the Notes has been reduced to zero, (ii) then, by the Collateral Agent until the payment in full of the 2011-A 20_-__ Exchange Note, and (iii) thereafter by the Borrowers.
Appears in 1 contract
Samples: Servicing Agreement (CAB West LLC)