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 2024-2 Lease or re-lease a 2024-2 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 2024-2 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 (iii) the 2024-2 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), (ii) or (iii) has occurred, (x) deposit or cause to be deposited into the 2024-2 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 2024-2 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to reallocate such 2024-2 Lease and the related 2024-2 Vehicle from the 2024-2 SUBI to the UTI. After such 2024-2 Lease and related 2024-2 Vehicle has been reallocated to the UTI, the Servicer may cause such 2024-2 Lease and 2024-2 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to reallocate or cause to be reallocated a 2024-2 Vehicle before the Maturity Date of the related 2024-2 Lease and remit to the 2024-2 SUBI Collection Account an amount equal to the Securitization Value of that 2024-2 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 2024-2 Lease and that change results in a change to the Contract Residual Value and/or the related Xxxxx Xxxx.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20242023-2 Lease or re-lease a 20242023-2 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20242023-2 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 (iii) the 20242023-2 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), (ii) or (iii) has occurred, (x) deposit or cause to be deposited into the 20242023-2 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 20242023-2 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to reallocate such 20242023-2 Lease and the related 20242023-2 Vehicle from the 20242023-2 SUBI to the UTI. After such 20242023-2 Lease and related 20242023-2 Vehicle has been reallocated to the UTI, the Servicer may cause such 20242023-2 Lease and 20242023-2 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to reallocate or cause to be reallocated a 20242023-2 Vehicle before the Maturity Date of the related 20242023-2 Lease and remit to the 20242023-2 SUBI Collection Account an amount equal to the Securitization Value of that 20242023-2 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 20242023-2 Lease and that change results in a change to the Contract Residual Value and/or the related Xxxxx Xxxx.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 2024-2 1 Lease or re-lease a 2024-2 1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 2024-2 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 (iii) the 2024-2 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), (ii) or (iii) has occurred, (x) deposit or cause to be deposited into the 2024-2 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 2024-2 1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to reallocate such 2024-2 1 Lease and the related 2024-2 1 Vehicle from the 2024-2 1 SUBI to the UTI. After such 2024-2 1 Lease and related 2024-2 1 Vehicle has been reallocated to the UTI, the Servicer may cause such 2024-2 1 Lease and 2024-2 1 Vehicle to be conveyed to the Servicer as described in Section 2.3. (b) The Servicer will be required to reallocate or cause to be reallocated a 2024-2 1 Vehicle before the Maturity Date of the related 2024-2 1 Lease and remit to the 2024-2 1 SUBI Collection Account an amount equal to the Securitization Value of that 2024-2 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 2024-2 1 Lease and that change results in a change to the Contract Residual Value and/or the related Xxxxx Xxxx.