Common use of Designation of Specified Interests Clause in Contracts

Designation of Specified Interests. At least 1 business day prior to the Series Issue Date with respect to any Specified Interest, the Holders of the applicable Series (with prior notice to the Member, any Registered Pledgee of any Certificate of such Series and the holders of any Titling Company Notes issued with respect to the related Specified Interest) will deliver to the Titling Company Administrator a notice executed by the Member or such Holders (each, a “Titling Company Specification Notice”), setting forth the terms of the related Series, including: (i) the date that the related Series will be issued (the “Series Issue Date”); (ii) that (A) additional Leases and Leased Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Revolving Specified Interest”) or (B) no additional Leases and Leased Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Fixed Specified Interest”); (iii) that the Certificates of the related Series will collectively represent the entire Titling Company Interest in the related Specified Assets and (1) will be issued in more than one class (each, a “Class”) having different rights with respect to the related Specified Assets and specifying the terms of each such Class or (2) will be issued only in a single Class; (iv) the Persons to whom the Certificates of such Series initially will be issued; (v) the first date as of which Collections on the related Specified Assets will be allocated to such Specified Interest (the “Series Cutoff Date”); (vi) a schedule listing the Leases and Leased Vehicles to be initially allocated to such Specified Interest (a “Schedule of Leases and Leased Vehicles”); and (vii) that (A) Titling Company Notes may be issued by the Company with respect to such Specified Interest (if so specified, such Specified Interest a “Titling Company Note Specified Interest”) or (B) Titling Company Notes may not be issued by the Company with respect to such Specified Interest. On the Series Issue Date, the Company will issue the related Certificates to the Persons named in the Titling Company Specification Notice. The Company will provide notice of each such issuance to the Titling Company Registrar, and the Titling Company Registrar will record such issuance in the Certificate Register. Each Titling Company Specification Notice will be substantially in the form of Exhibit A.

Designation of Specified Interests. At least 1 business day one Business Day prior to the Series Issue Date with respect to any Specified Interest, the Holders of the applicable Series (with prior notice to the MemberInitial Beneficiary, any Registered Pledgee of any Certificate of such Series and the holders of any Titling Company Notes Trust Debts issued with respect to the related Specified Interest) will deliver to the Titling Company Trust Administrator a notice executed by the Member Initial Beneficiary or such Holders (each, a “Titling Company Specification Notice”), setting forth the terms of the related Series, including: (i) the date that the related Series will be issued (the “Series Issue Date”); (ii) that (A) additional Titling Trust Leases and Leased Titling Trust Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Revolving Specified Interest”) or (B) no additional Titling Trust Leases and Leased Titling Trust Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Fixed Specified Interest”); (iii) that the Certificates of the related Series will collectively represent the entire Titling Company Beneficial Interest in the related Specified Assets and (1) will be issued in more than one class (each, a “Class”) having different rights with respect to the related Specified Assets and specifying the terms of each such Class or (2) will be issued only in a single Class; (iv) the Persons to whom the Certificates of such Series initially will be issued; (v) the first date as of which Collections on the related Specified Assets will be allocated to such Specified Interest (the “Series Cutoff Date”); (vi) a schedule listing Applicable Asset Annex identifying the Leases and Leased Vehicles Titling Trust Assets to be initially allocated to such Specified Interest (or, solely in the case of a “Schedule Specified Interest whose Series Issue Date occurs on July 16, 2008, containing a description of Leases and Leased Vehicles”the Titling Trust Assets to be allocated to such Specified Interest); and (vii) that (A) Titling Company Notes Trust Debts may be issued by the Company Titling Trust with respect to such Specified Interest (if so specified, such Specified Interest a “Titling Company Note Trust Debt Specified Interest”) or (B) Titling Company Notes Trust Debts may not be issued by the Company Titling Trust with respect to such Specified Interest. No Applicable Asset Annex delivered pursuant to this Section 4.3(b) may include any Titling Trust Leases or Titling Trust Vehicles that will be allocated (and as to which Collections will be allocable) to another Specified Interest as of the day immediately following the applicable Series Cutoff Date. On the Series Issue Date, the Company Titling Trust will issue the related Certificates to the Persons named in the Titling Company Specification Notice. The Company Titling Trust will provide notice of each such issuance to the Titling Company RegistrarTrustee, and the Titling Company Registrar Trustee will record such issuance in the Certificate Register. Each Titling Company Specification Notice will be substantially in the form of Exhibit A.

Designation of Specified Interests. At least 1 one business day prior to the Series Issue Date with respect to creation of any Specified InterestInterest (or on the date hereof for any Specified Interest created on the date hereof), the Holders of the applicable Series (with prior notice to the Member, any Registered Pledgee of any Certificate of such Series and the holders of any Titling Company Notes issued with respect to the related Specified Interest) Initial Beneficiary will deliver to the Titling Company Trust Administrator a notice executed by the Member or Initial Beneficiary, setting forth the terms of such Holders Specified Interest and the related Series (each, a “Titling Company Trust Specification Notice”), setting forth the terms of the related Series, including: (i) the date that the related Series will be issued (the “Series Issue Date”); (ii) that (A) additional Leases and Leased Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Revolving Specified Interest”) or (B) no additional Leases and Leased Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Fixed Specified Interest”); (iii) that the Certificates of the related Series will collectively represent the entire Titling Company Beneficial Interest in the related Specified Assets and (1) will be issued in more than one class (each, a “Class”) having different rights with respect to the related Specified Assets and specifying the terms of each such Class or (2) will be issued only in a single Class; (iv) the Persons to whom the Certificates of such Series initially will be issued; (v) the first date as of which Collections on the related Specified Assets will be allocated to such Specified Interest (the “Series Cutoff Date”); (vi) a schedule listing the Leases and Leased Vehicles to be initially allocated to such Specified Interest (a “Schedule of Leases and Leased Vehicles”); and (vii) that (A) Titling Company Trust Notes may be issued by the Company Titling Trust with respect to such Specified Interest (if so specified, such Specified Interest a “Titling Company Trust Note Specified Interest”) or (B) Titling Company Trust Notes may not be issued by the Company Titling Trust with respect to such Specified Interest. On the Series Issue Date, the Company Titling Trust will issue the related Certificates to the Persons named in the Titling Company Trust Specification Notice. The Company Titling Trust Administrator will provide notice of each such issuance to the Titling Company RegistrarTrustee, and the Titling Company Registrar Trustee will record such issuance in the Certificate Register. Each Titling Company Trust Specification Notice will be substantially in the form of Exhibit A.

Designation of Specified Interests. At least 1 business day one Business Day prior to the Series Issue Date with respect to any Specified Interest, the Holders of the applicable Series (with prior notice to the MemberInitial Beneficiary, any Registered Pledgee of any Certificate of such Series and the holders of any Titling Company Notes Trust Debts issued with respect to the related Specified Interest) will deliver to the Titling Company Trust Administrator a notice executed by the Member Initial Beneficiary or such Holders (each, a “Titling Company Specification Notice”), setting forth the terms of the related Series, including: (i) the date that the related Series will be issued (the “Series Issue Date”); (ii) that (A) additional Titling Trust Leases and Leased Titling Trust Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Revolving Specified Interest”) or (B) no additional Titling Trust Leases and Leased Titling Trust Vehicles may be allocated to the Specified Interest (any such Specified Interest, a “Fixed Specified Interest”); (iii) that the Certificates of the related Series will collectively represent the entire Titling Company Beneficial Interest in the related Specified Assets and (1) will be issued in more than one class (each, a “Class”) having different rights with respect to the related Specified Assets and specifying the terms of each such Class or (2) will be issued only in a single Class; (iv) the Persons to whom the Certificates of such Series initially will be issued; (v) the first date as of which Collections on the related Specified Assets will be allocated to such Specified Interest (the “Series Cutoff Date”); (vi) a schedule listing the Leases and Leased Vehicles to be initially allocated to such Specified Interest (a “Schedule of Leases and Leased Vehicles”); and (vii) that (A) Titling Company Notes may be issued by the Company with respect to such Specified Interest (if so specified, such Specified Interest a “Titling Company Note Specified Interest”) or (B) Titling Company Notes may not be issued by the Company with respect to such Specified Interest. On the Series Issue Date, the Company will issue the related Certificates to the Persons named in the Titling Company Specification Notice. The Company will provide notice of each such issuance to the Titling Company Registrar, and the Titling Company Registrar will record such issuance in the Certificate Register. Each Titling Company Specification Notice will be substantially in the form of Exhibit A.