Common use of Lease Pull Ahead Programs Clause in Contracts

Lease Pull Ahead Programs. (a) GM may offer incentives to encourage Consumers to terminate their lease contracts or balloon installment contracts that GMAC purchased from GM Dealers, and return their vehicles before the scheduled maturity date, thereby relieving the Consumers of all or a portion of the obligations under their contracts if they simultaneously purchase or lease a new GM vehicle (e.g. from November 1, 2005 through December 31, 2005 Consumers were offered the opportunity to pull ahead contracts scheduled to mature from January through April 2006). GM will determine the periods during which the pull ahead programs are offered. GM is responsible for the total net cost of each lease pull ahead program and will reimburse GMAC for its total net cost of this program as provided in Exhibit C. If the program results in a net benefit to GM and GMAC, they will share equally in such benefit. (b) GM will pay GMAC for vehicles returned in a particular month on a monthly basis in accordance with Section 3.12. (c) GMAC will prepare and provide to GM a true-up statement once principally all eligible vehicles that did not pull ahead have been remarketed and it is possible to compare the remarketing proceeds of the vehicles that were pulled ahead to the remarketing CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission proceeds of the eligible comparison vehicles that did not pull ahead. The true-up payment will be made in accordance with Section 3.12 by the party that owes the payment.

Lease Pull Ahead Programs. (a) GM may offer incentives to encourage Consumers to terminate their lease contracts or balloon installment contracts that GMAC purchased from GM Dealers, and return their vehicles before the scheduled maturity date, thereby relieving the Consumers of all or a portion of the obligations under their contracts if they simultaneously purchase or lease a new GM vehicle (e.g. from November 1, 2005 through December 31, 2005 Consumers were offered the opportunity to pull ahead contracts scheduled to mature from January through April 2006). GM will determine the periods during which the pull ahead programs are offered. GM is responsible for the total net cost of each lease pull ahead program and will reimburse GMAC for its total net cost of this program as provided in Exhibit C. If the program results in a net benefit to GM and GMAC, they will share equally in such benefit. (b) GM will pay GMAC for vehicles returned in a particular month on a monthly basis in accordance with Section 3.12. (c) GMAC will prepare and provide to GM a true-up statement once principally all eligible vehicles that did not pull ahead have been remarketed and it is possible to compare the remarketing proceeds of the vehicles that were pulled ahead to the remarketing CONFIDENTIAL TREATMENT proceeds of the eligible comparison vehicles that did not pull ahead. The true-up payment will be made in accordance with Section 3.12 by the party that owes the payment. [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission proceeds of the eligible comparison vehicles that did not pull ahead. The true-up payment will be made in accordance with Section 3.12 by the party that owes the payment.Commission

Lease Pull Ahead Programs. (a) GM may offer incentives to encourage Consumers to terminate their lease contracts or balloon installment contracts that GMAC purchased from GM Dealers, and return their vehicles before the scheduled maturity date, thereby relieving the Consumers of all or a portion of the obligations under their contracts if they simultaneously purchase or lease a new GM vehicle (e.g. from November 1, 2005 through December 31, 2005 Consumers were offered the opportunity to pull ahead contracts scheduled to mature from January through April 2006). GM will determine the periods during which the pull ahead programs are offered. GM is responsible for the total net cost of each lease pull ahead program and will reimburse GMAC for its total net cost of this program as provided in Exhibit C. If the program results in a net benefit to GM and GMAC, they will share equally in such benefit. (b) GM will pay GMAC for vehicles returned in a particular month on a monthly basis in accordance with Section 3.12. (c) GMAC will prepare and provide to GM a true-up statement once principally all eligible vehicles that did not pull ahead have been remarketed and it is possible to compare the remarketing proceeds of the vehicles that were pulled ahead to the remarketing CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission possible to compare the remarketing proceeds of the vehicles that were pulled ahead to the remarketing proceeds of the eligible comparison vehicles that did not pull ahead. The true-up payment will be made in accordance with Section 3.12 by the party that owes the payment.