REPRESENTATIONS AND COVENANTS OF THE INSURED. The Submission was accurate in all material respects as of the date of delivery. In consideration of the coverage provided to it under this Policy, the Insured covenants to the Insurer as follows: During the Term, the Insured shall not sell, transfer or assign all or substantially all of the Potentially Covered Leases to other than its affiliates without the written consent of the Insurer, which consent shall not be unreasonably withheld. For the avoidance of doubt, this covenant relates to sale, transfer and assignment of leases, not to sale, transfer or assignment of vehicles. For the further avoidance of doubt, this covenant does not apply to dealer lease and/or vehicle repurchases in connection with breaches under Chase dealer agreements. The Insured will provide prompt written notice to the Insurer of any sale, transfer or assignment of all or substantially all the Potentially Covered Leases to any affiliate. During the Term, the interest rate charged on Chase Financed Purchase Option Vehicles will be based on the same return on equity and profitability models that Chase establishes for its used vehicle loans made directly to consumers. During the Term, the Insured shall maintain a dealer asset remarketing effort and a consumer asset remarketing effort with respect to Purchase Option Vehicles and Chase Financed Purchase Option Vehicles, and the Insured’s remarketing practices with respect to such efforts shall conform to or exceed standard industry practices, subject, however, to the Insured’s compliance with the terms and conditions of this Policy. The Insured shall not change its current methodology or practices with respect to its LeMans system as it relates to the determination of Initial Adjusted Capitalized Cost, Amortized Value, Book Cost or depreciation.
