Common use of RETITLING OF LEASED VEHICLES Clause in Contracts

RETITLING OF LEASED VEHICLES. Each holder of a UTI Certificate or, subject to any restrictions on such right set forth in the agreements governing any Financing, a SUBI Certificate, may at any time, at its option, to be exercised by written notice delivered to the applicable UTI Trustee or SUBI Trustee and the applicable Servicer, request that the Leased Vehicles allocated to such UTI Certificate or SUBI Certificate, as the case may be, be retitled in the name of such holder (or a Person designated by such holder), that a lien may be noted on the Certificate of Title therefor in the name of such holder (or a Person designated by such holder), or that possession of such Certificate of Title and/or the other Trust Assets allocated to such UTI Certificate or SUBI Certificate, as the case may be, be transferred to such holder (or a Person designated by such holder) free and clear of the interest of Trust. Except as otherwise provided in the related SUBI Supplement, such holder shall indemnify the Trust, the Trustees and such Servicer for, and hold the Trust, the Trustees and such Servicer harmless against, any and all expenses, costs, liabilities, losses and claims incurred by any of them as a result of or relating to such retitling or transfer, or any action such holder shall take or fail to take as the registered owner of such Leased Vehicles or the owner of such Trust Assets, including, without limitation, sales and transfer taxes and registration fees.

RETITLING OF LEASED VEHICLES. Each The holder of a the UTI Certificate or, subject to any restrictions on such right set forth in the agreements governing any Financingapplicable SUBI Supplement, a SUBI Certificate, may at any time, at its option, to be exercised by written notice delivered to the applicable UTI Trustee or SUBI Trustee and the applicable ServicerTrustee, request that the Leased Vehicles Units allocated to such the UTI Certificate or SUBI Certificate, as the case may be, be transferred to such holder (or a Person designated by such holder), that any related Leased Vehicles be retitled in the name of such holder (or a Person designated by such holder), that a lien may be noted on the Certificate of Title therefor in the name of such holder (or a Person designated by such holder), or that possession of such Certificate of Title and/or the other Trust Assets allocated to such the UTI Certificate or SUBI Certificate, as the case may be, be transferred to such holder (or a Person designated by such holder) free and clear of the interest of TrustTrust (each or any of the foregoing together, a “Retitling”). Except as otherwise provided in the related SUBI Supplement, such holder shall indemnify the Trust, Trust and the Trustees and such Servicer for, and hold the Trust, Trust and the Trustees and such Servicer harmless against, any and all expenses, costs, liabilities, losses and claims incurred by any of them as a result of or relating to such retitling or transfer, or any action such holder shall take or fail to take as the registered owner of such Leased Vehicles or the owner of such Trust Assets, including, without limitation, sales and transfer taxes and registration fees.