Common use of Reallocation of Specified Assets from one Specified Interest to Another Clause in Contracts

Reallocation of Specified Assets from one Specified Interest to Another. The Holders of the Series relating to any Specified Interest will, or will cause the related Servicer to, identify to the Titling Trust Administrator in accordance with Section 4.3(h) any related Specified Assets that have been or are to be reallocated to another existing Specified Interest, and provide to the Titling Trust Administrator the following information with respect to such Specified Assets: (i) the Specified Interest from which the Specified Assets have been or are to be reallocated; (ii) the Specified Interest to which the Specified Assets have been or are to be reallocated; (iii) the Reallocation Date; and (iv) the date as of which Collections on such Specified Assets will be allocated to the Specified Interest to which such Specified Assets have been or are to be reallocated. Effective as of the Reallocation Date set forth in any Reallocation Notice, the Leases, Vehicles or other assets identified therein will be reallocated to the Specified Interest set forth in the Reallocation Notice. The effectiveness of a Reallocation Notice that is delivered with respect to any Specified Interest will be subject to the rights of any Titling Trust Noteholders or Registered Pledgees with respect to such Specified Interest.

Reallocation of Specified Assets from one Specified Interest to Another. The Holders of the Series relating to any Specified Interest will, or will cause the related Servicer to, identify to the Titling Trust Administrator in accordance with Section 4.3(h) any related Specified Assets that have been or are to be reallocated to another existing Specified Interest, and provide to the Titling Trust Administrator the following information with respect to such Specified Assets: (i) the Specified Interest from which the Specified Assets have been or are to be reallocated; (ii) the Specified Interest to which the Specified Assets have been or are to be reallocated; (iii) the Reallocation Date; and (iv) the date as of which Collections on such Specified Assets will be allocated to the Specified Interest to which such Specified Assets have been or are to be reallocated. Effective Subject to compliance with the Asset Removal Procedures set forth in Section 4.4, and as of the Reallocation Date set forth in any Reallocation Notice, the Titling Trust Leases, Titling Trust Vehicles or other assets identified therein will be reallocated to the Specified Interest set forth in the Reallocation Notice. The effectiveness of a Reallocation Notice that is delivered with respect to any Specified Interest will be subject to the rights of any Titling Trust Noteholders or Registered Pledgees with respect to such Specified Interest.

Reallocation of Specified Assets from one Specified Interest to Another. The Holders of the Series relating to any Specified Interest will, or will cause the related Servicer to, identify to the Titling Trust Company Administrator in accordance with Section 4.3(h) any related Specified Assets that have been or are to be reallocated to another existing Specified Interest, and provide to the Titling Trust Company Administrator the following information with respect to such Specified Assets: (i) the Specified Interest from which the Specified Assets have been or are to be reallocated; (ii) the Specified Interest to which the Specified Assets have been or are to be reallocated; (iii) the Reallocation Date; and (iv) the date as of which Collections on such Specified Assets will be allocated to the Specified Interest to which such Specified Assets have been or are to be reallocated. Effective as of the Reallocation Date set forth in any Reallocation Notice, the Leases, Leased Vehicles or other assets identified therein will be reallocated to the Specified Interest set forth in the Reallocation Notice. The effectiveness of a Reallocation Notice that is delivered with respect to any Specified Interest will be subject to the rights of any Titling Trust Company Noteholders or Registered Pledgees with respect to such Specified Interest.