Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.
Appears in 44 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2024-A), Trust Agreement (Nissan Auto Lease Trust 2024-A), Trust Agreement (Nissan Auto Leasing LLC Ii)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 10 (NALT 2014-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2014-B), Trust Agreement (Nissan Auto Lease Trust 2014-B)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. ACTIONS BY OWNER TRUSTEE OR TRUST CERTIFICATEHOLDERS
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Leasing LLC Ii), Trust Agreement (Nissan Auto Leasing LLC Ii)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 11 (NALT 2017-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2017-A), Trust Agreement (Nissan Auto Lease Trust 2017-A)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 10 (NALT 2015-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2015-A), Trust Agreement (Nissan Auto Lease Trust 2015-A)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 10 (NALT 2015-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2015-B), Trust Agreement (Nissan Auto Lease Trust 2015-B)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 11 (NALT 2024-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2024-B), Trust Agreement (Nissan Auto Lease Trust 2024-B)
Ownership by the Depositor of Trust Certificates. The Depositor shall receive on the Closing Date in accordance with Section 3.02 beneficial and record ownership of Trust Certificates representing 100% of the Certificate Balance. Notwithstanding any other provision of this Agreement to the contrary, the Depositor may not transfer any Trust Certificate prior to payment in full of the Notes unless the Rating Agency Condition has been satisfied with respect to such transfer.. 11 (NALT 20[●]-[●] Amended and Restated Trust Agreement)
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