Common use of CREATION AND TERMINATION OF TRUST INTERESTS Clause in Contracts

CREATION AND TERMINATION OF TRUST INTERESTS. SECTION 11.01 INITIAL CREATION OF UTI, SUBDIVISION THEREOF. (a) Pursuant to Section 3.01(b) of the Titling Trust Agreement, all Titling Trust Assets (including without limitation Contracts and Leased Vehicles), other than any Titling Trust Assets denominated as SUBI Assets from time to time in accordance with Section 3.01(c) of the Titling Trust Agreement, shall constitute UTI Assets. All Contracts and Leased Vehicles that are included as UTI Assets shall be, for so long as they remain UTI Assets, "UTI Contracts" and "UTI Leased Vehicles", respectively, and collectively shall comprise the "UTI Portfolio". The UTI Assets also shall include: the Lease Funding Account, including all cash and Permitted Investments therein and all income from the investment of funds therein; all Insurance Policies and rights thereunder to the extent applicable to the UTI Portfolio, including the right to proceeds therefrom with respect to the UTI Portfolio or obligors with respect thereto, as the case may be; the right to receive the proceeds of all Dealer or other repurchase obligations, if any, relating to the UTI Portfolio; and all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or other property.

CREATION AND TERMINATION OF TRUST INTERESTS. SECTION 11.01 INITIAL CREATION OF Initial Creation of UTI, SUBDIVISION THEREOFSubdivision Thereof. (a) Pursuant to Section 3.01(b) of the Titling Trust Agreement, all Titling Trust Assets (including without limitation Contracts and Leased Vehicles), other than any Titling Trust Assets denominated as SUBI Assets from time to time in accordance with Section 3.01(c) of the Titling Trust Agreement, shall constitute UTI Assets. All Contracts and Leased Vehicles that are included as UTI Assets shall be, for so long as they remain UTI Assets, "UTI Contracts" and "UTI Leased Vehicles", respectively, and collectively shall comprise the "UTI Portfolio". The UTI Assets also shall include: the Lease Funding Account, including all cash and Permitted Investments therein and all income from the investment of funds therein; all Insurance Policies and rights thereunder to the extent applicable to the UTI Portfolio, including the right to proceeds therefrom with respect to the UTI Portfolio or obligors with respect thereto, as the case may be; the right to receive the proceeds of all Dealer or other repurchase obligations, if any, relating to the UTI Portfolio; and all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or other property.