Common use of Extensions; Monthly Payments; Term Clause in Contracts

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 2014-1 Lease or re-lease a 2014-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 2014-1 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 the 2014-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 2014-1 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 2014-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 2014-1 Lease and the related 2014-1 Vehicle from the 2014-1 SUBI to the UTI or cause such 2014-1 Lease and 2014-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 2014-1 Vehicle before the Maturity Date of the related 2014-1 Lease and remit to the 2014-1 SUBI Collection Account an amount equal to the Securitization Value of that 2014-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 2014-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142015-1 Lease or re-lease a 20142015-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142015-1 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 the 20142015-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142015-1 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 20142015-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142015-1 Lease and the related 20142015-1 Vehicle from the 20142015-1 SUBI to the UTI or cause such 20142015-1 Lease and 20142015-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142015-1 Vehicle before the Maturity Date of the related 20142015-1 Lease and remit to the 20142015-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142015-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142015-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142010-1 Lease or re-lease a 20142010-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142010-1 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 the 20142010-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142010-1 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 20142010-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142010-1 Lease and the related 20142010-1 Vehicle from the 20142010-1 SUBI to the UTI or cause such 20142010-1 Lease and 20142010-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142010-1 Vehicle before the Maturity Date of the related 20142010-1 Lease and remit to the 20142010-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142010-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142010-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142012-1 Lease or re-lease a 20142012-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142012-1 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 the 20142012-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142012-1 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 20142012-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142012-1 Lease and the related 20142012-1 Vehicle from the 20142012-1 SUBI to the UTI or cause such 20142012-1 Lease and 20142012-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142012-1 Vehicle before the Maturity Date of the related 20142012-1 Lease and remit to the 20142012-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142012-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142012-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142011-1 Lease or re-lease a 20142011-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142011-1 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 the 20142011-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142011-1 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 20142011-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142011-1 Lease and the related 20142011-1 Vehicle from the 20142011-1 SUBI to the UTI or cause such 20142011-1 Lease and 20142011-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142011-1 Vehicle before the Maturity Date of the related 20142011-1 Lease and remit to the 20142011-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142011-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142011-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142015-1 2 Lease or re-lease a 20142015-1 2 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142015-1 2 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 the 20142015-1 2 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142015-1 2 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 20142015-1 2 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142015-1 2 Lease and the related 20142015-1 2 Vehicle from the 20142015-1 2 SUBI to the UTI or cause such 20142015-1 2 Lease and 20142015-1 2 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142015-1 2 Vehicle before the Maturity Date of the related 20142015-1 2 Lease and remit to the 20142015-1 2 SUBI Collection Account an amount equal to the Securitization Value of that 20142015-1 2 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142015-1 2 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142013-1 Lease or re-lease a 20142013-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142013-1 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 the 20142013-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142013-1 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 20142013-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142013-1 Lease and the related 20142013-1 Vehicle from the 20142013-1 SUBI to the UTI or cause such 20142013-1 Lease and 20142013-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142013-1 Vehicle before the Maturity Date of the related 20142013-1 Lease and remit to the 20142013-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142013-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142013-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20142009-1 Lease or re-lease a 20142009-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20142009-1 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 the 20142009-1 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) or (ii) has occurred, (x) deposit or cause to be deposited into the 20142009-1 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 20142009-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20142009-1 Lease and the related 20142009-1 Vehicle from the 20142009-1 SUBI to the UTI or cause such 20142009-1 Lease and 20142009-1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to purchase or cause to be purchased a 20142009-1 Vehicle before the Maturity Date of the related 20142009-1 Lease and remit to the 20142009-1 SUBI Collection Account an amount equal to the Securitization Value of that 20142009-1 Lease as of the effective date of termination if the Servicer agrees with the related Lessee to a change in the Lease Rate applicable to that 20142009-1 Vehicle and that change results in a change to the Contract Residual Value and/or the related Lease Term.