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 2017-A Exchange Note or cancellation of the 2017-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2017-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2017-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 2017-A), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)

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Reallocation on Payment in Full or Cancellation. On payment repayment in full of the 20172016-A Exchange Note or cancellation of the 20172016-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20172016-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20172016-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 Two LLC), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)

Reallocation on Payment in Full or Cancellation. On payment in full of the 20172018-A B Exchange Note or cancellation of the 20172018-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20172018-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20172018-A 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 2018-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-B)

Reallocation on Payment in Full or Cancellation. On payment in full of the 2017-A B Exchange Note or cancellation of the 2017-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2017-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2017-A 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 2017-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B)

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Reallocation on Payment in Full or Cancellation. On payment in full of the 20172018-A Exchange Note or cancellation of the 20172018-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20172018-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20172018-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 2018-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-A)

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