Common use of Reallocation of Leases and Leased Vehicles Clause in Contracts

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 2017-A Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2017-A), Servicing Agreement (Ford Credit Auto Lease Two LLC)

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Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 2017-A B Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2017-B), Servicing Agreement (Ford Credit Auto Lease Trust 2017-B)

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172018-A B Reference Pool.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2018-B), Servicing Agreement (Ford Credit Auto Lease Trust 2018-B)

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172019-A B Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2019-B), Servicing Agreement (Ford Credit Auto Lease Trust 2019-B)

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172020-A Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2020-A), Servicing Agreement (Ford Credit Auto Lease Trust 2020-A)

Reallocation of Leases and Leased Vehicles. When the Servicer’s 's payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx mark its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172023-A Reference Pool.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2023-A), Servicing Agreement (Ford Credit Auto Lease Trust 2023-A)

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172021-A Reference Pool.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2021-A), Servicing Agreement (Ford Credit Auto Lease Trust 2021-A)

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Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172018-A Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2018-A), Servicing Agreement (Ford Credit Auto Lease Trust 2018-A)

Reallocation of Leases and Leased Vehicles. When the Servicer’s payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 20172021-A B Reference Pool.

Appears in 2 contracts

Samples: Servicing Supplement (Ford Credit Auto Lease Trust 2021-B), Servicing Agreement (Ford Credit Auto Lease Trust 2021-B)

Reallocation of Leases and Leased Vehicles. When the Servicer’s 's payment of the Administrative Reallocation Amount for a Lease and Leased Vehicle is included in Exchange Note Available Funds for a Payment Date, the Lease and Leased Vehicle will be deemed to have been reallocated to the Revolving Facility Pool, effective as of the last day of the Collection Period before the related Collection Period. After the reallocation, the Servicer will xxxx mxxx its receivables systems to indicate that the lease and leased vehicle is no longer a Lease and Leased Vehicle in the 2017-A 20__-__ Reference Pool.

Appears in 1 contract

Samples: Servicing Supplement (CAB East LLC)

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