Common use of Rights of Holders With Respect to Specified Interests Clause in Contracts

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Titling Company Noteholders and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason to: (i) direct the Company to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holders; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company to accept assignment of title to Leases and Leased Vehicles (or instruct the related Servicer, as their agent, to so direct the Company) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company to reallocate any related Specified Leases, Specified Leased Vehicles or other Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Note Specified Interest, direct the Company to issue Titling Company Notes with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company Notes, subject to and in accordance with the terms of this Agreement and the related Titling Company Specification Notice; and (vii) provide directions to the Titling Company Administrator, the Company, the Board, the Titling Company Registrar or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a).

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Beneficial Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Titling Company Trust Noteholders and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have have, in accordance with Section 4.3(a), the exclusive right to administer, manage, and control the related Specified Assets. In this regard, the Servicing Agreement and any other document to which the related Specified Assets are subject may designate the parties with the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason totime: (i) direct the Company Titling Trust to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holdersof the Persons identified therein; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company Titling Trust to accept assignment assignments of title to Leases and Leased Vehicles (or instruct the related Servicer, as their agent, to so direct the CompanyTitling Trust) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company Titling Trust to reallocate any related Specified Leases, Specified Leased Vehicles or other other; Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Trust Note Specified Interest, direct the Company Titling Trust to issue Titling Company Trust Notes with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company Trust Notes, subject to and in accordance with the terms of this Agreement and the related Titling Company Trust Specification Notice; and (vii) provide directions to the Titling Company Trust Administrator, the CompanyTitling Trust, the Board, the Titling Company Registrar Trustee or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a).

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Beneficial Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Titling Company Trust Noteholders and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have have, in accordance with Section 4.3(a), the exclusive right to administer, manage, and control the related Specified Assets. In this regard, the Servicing Agreement and any other document to which the related Specified Assets are subject may designate the parties with the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason totime: (i) direct the Company Titling Trust to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holdersof the Persons identified therein; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company Titling Trust to accept assignment assignments of title to Leases and Leased Vehicles (or instruct the related Servicer, as their agent, to so direct the CompanyTitling Trust) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company Titling Trust to reallocate any related Specified Leases, Specified Leased Vehicles or other Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Trust Note Specified Interest, direct the Company Titling Trust to issue Titling Company Trust Notes with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company Trust Notes, subject to and in accordance with the terms of this Agreement and the related Titling Company Trust Specification Notice; and (vii) provide directions to the Titling Company Trust Administrator, the CompanyTitling Trust, the Board, the Titling Company Registrar Trustee or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a). (i) Section 7.2 of the Titling Trust Agreement is hereby deleted and replaced with the following: The Titling Trust Administrator and the Trustee are authorized and directed by the Initial Beneficiary to execute and deliver this Agreement, each Transaction Document, and each certificate or other document attached as an exhibit to or contemplated by this Agreement to which the Titling Trust is to be a party, in such form as the Initial Beneficiary may approve.

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Beneficial Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Titling Company Trust Noteholders and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason to: (i) direct the Company Titling Trust to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holders; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company Titling Trust to accept assignment of title to Leases and Leased Vehicles (or instruct the related Servicer, as their agent, to so direct the CompanyTitling Trust) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company Titling Trust to reallocate any related Specified Leases, Specified Leased Vehicles or other Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Trust Note Specified Interest, direct the Company Titling Trust to issue Titling Company Trust Notes with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company Trust Notes, subject to and in accordance with the terms of this Agreement and the related Titling Company Trust Specification Notice; and (vii) provide directions to the Titling Company Trust Administrator, the CompanyTitling Trust, the Board, the Titling Company Registrar Trustee or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a).

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Secured Titling Company Noteholders Trust Creditors or other Titling Trust Creditors and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason to: (i) direct the Company Titling Trust to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holders; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company Titling Trust to accept assignment of title to Titling Trust Leases and Leased Titling Trust Vehicles (or instruct the related Servicer, as their agent, to so direct the CompanyTitling Trust) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company Titling Trust to reallocate any related Specified Leases, Specified Leased Vehicles or other Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Note Trust Debt Specified Interest, direct the Company Titling Trust to issue Titling Company Notes Trust Debts with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company Notes, subject to and in accordance with the terms of this Agreement and the related Titling Company Specification Notice; and (vii) provide directions to the Titling Company Administrator, the Company, the Board, the Titling Company Registrar or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a).Specified

Rights of Holders With Respect to Specified Interests. The Holders of each Series, with respect to the related Specified Interest (collectively, the “Titling Company Interest”), subject to the rights of (A) any related Registered Pledgee and (B) any related Secured Titling Company Noteholders Trust Creditors or other Titling Trust Creditors and to the terms of the related Servicing Agreement and any other document to which the related Specified Assets are subject, will have the exclusive right to administer, manage, and control the related Specified Assets, including the right to, at any time and, for any reason or for no reason to: (i) direct the Company Titling Trust to assign or otherwise transfer any related Specified Leases, Specified Leased Vehicles or other Specified Assets to, or to the order of, such Holders; (ii) receive or direct the application of all Collections on the related Specified Assets, which Collections will be assets of such Holders; (iii) designate, remove and direct the actions of the related Servicer and specify the terms of the related Servicing Agreement in accordance with Section 4.3(a); (iv) direct the Company Titling Trust to accept assignment of title to Titling Trust Leases and Leased Titling Trust Vehicles (or instruct the related Servicer, as their agent, to so direct the CompanyTitling Trust) for allocation to such Specified Interest (if designated as a Revolving Specified Interest) in accordance with Section 4.3(d); (v) direct the Company Titling Trust to reallocate any related Specified Leases, Specified Leased Vehicles or other Specified Assets to a different Specified Interest in accordance with Section 4.3(f); (vi) in the case of a Titling Company Note Trust Debt Specified Interest, direct the Company Titling Trust to issue Titling Company Notes Trust Debts with respect to the related Specified Interest and pledge any or all of the related Specified Assets to secure such Titling Company NotesTrust Debts, subject to and in accordance with the terms of this Titling Trust Agreement and the related Titling Company Specification Notice; and (vii) provide directions to the Titling Company Trust Administrator, the Company, the BoardTitling Trust, the Titling Company Registrar Trustee or the related Servicer with respect to the related Specified Interest pursuant to Section 7.4(a).