Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 2012-A Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 2012-A Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2012-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2012-A)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122014-A B Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122014-A B Reference Pool pursuant to under Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2014-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2014-B)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122011-A B Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122011-A B Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2011-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2011-B)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122014-A Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122014-A Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2014-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2014-A)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122013-A B Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122013-A B Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2013-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2013-B)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 2012-A B Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 2012-A B Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2012-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2012-B)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if following the 2012acceleration of the 2011-A Exchange Note is accelerated following upon a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122011-A Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2011-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2011-A)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122015-A B Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122015-A B Reference Pool pursuant to under Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2015-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2015-B)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122015-A Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122015-A Reference Pool pursuant to under Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2015-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2015-A)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if the 20122013-A Exchange Note is accelerated following a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 20122013-A Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2013-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2013-A)
Modified Priorities Following Liquidation. Notwithstanding Section 5.1, if following the 2012-A acceleration of the 20_-_ Exchange Note is accelerated following upon a Facility Default or an Exchange Note Default, then the proceeds of the sale or liquidation of any portion of the Collateral included in the 2012-A 20_-_ Reference Pool pursuant to Section 6.05(a)(ii)(z) of the Credit and Security Agreement will be applied in accordance with the following priorities:
Appears in 1 contract
