Common use of Reallocation on Payment in Full or Cancellation Clause in Contracts

Reallocation on Payment in Full or Cancellation. On payment in full of the 2020-B Exchange Note or cancellation of the 2020-B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2020-B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2020-B Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B)

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Reallocation on Payment in Full or Cancellation. On payment in full of the 2020-B A Exchange Note or cancellation of the 2020-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2020-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2020-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202023-B A Exchange Note or cancellation of the 20202023-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202023-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202023-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2023-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202021-B A Exchange Note or cancellation of the 20202021-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202021-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202021-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2021-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202022-B A Exchange Note or cancellation of the 20202022-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202022-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202022-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202019-B A Exchange Note or cancellation of the 20202019-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202019-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202019-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202021-B Exchange Note or cancellation of the 20202021-B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202021-B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202021-B Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B)

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Reallocation on Payment in Full or Cancellation. On payment in full of the 20202024-B A Exchange Note or cancellation of the 20202024-B A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202024-B A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202024-B A Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2024-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-A)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202023-B Exchange Note or cancellation of the 20202023-B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202023-B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202023-B Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202019-B Exchange Note or cancellation of the 20202019-B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202019-B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202019-B Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20202024-B Exchange Note or cancellation of the 20202024-B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202024-B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202024-B Reference Pool at that time will be reallocated to the Revolving Facility Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B)

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