Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 2021-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2021-B), Trust Agreement (Ford Credit Auto Lease Trust 2021-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212018-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2018-B), Trust Agreement (Ford Credit Auto Lease Trust 2018-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212017-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2017-A), Trust Agreement (Ford Credit Auto Lease Two LLC)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 20212024-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2024-B), Trust Agreement (Ford Credit Auto Lease Trust 2024-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 20212023-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2023-B), Trust Agreement (Ford Credit Auto Lease Trust 2023-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212016-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Two LLC), Trust Agreement (Ford Credit Auto Lease Two LLC)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212020-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2020-A), Trust Agreement (Ford Credit Auto Lease Trust 2020-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212019-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2019-A), Trust Agreement (Ford Credit Auto Lease Trust 2019-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212018-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2018-A), Trust Agreement (Ford Credit Auto Lease Trust 2018-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212020-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2020-B), Trust Agreement (Ford Credit Auto Lease Trust 2020-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 2021-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2021-A), Trust Agreement (Ford Credit Auto Lease Trust 2021-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212017-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2017-B), Trust Agreement (Ford Credit Auto Lease Trust 2017-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 20212019-B Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2019-B), Trust Agreement (Ford Credit Auto Lease Trust 2019-B)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 20212022-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2022-A), Trust Agreement (Ford Credit Auto Lease Trust 2022-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 20212023-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2023-A), Trust Agreement (Ford Credit Auto Lease Trust 2023-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 20212024-B A Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 2 contracts
Samples: Trust Agreement (Ford Credit Auto Lease Trust 2024-A), Trust Agreement (Ford Credit Auto Lease Trust 2024-A)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s 's assets other than the assets related to the 2021-B 20__-__ Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 1 contract
Samples: Trust Agreement (CAB East LLC)
Subordination of Claims. Each Co-Trustee agrees that each claim that the Co-Trustee may seek to enforce against the Depositor’s assets other than the assets related to the 2021-B 20 - Exchange Note will be subordinate to the payment in full of other claims for those other assets. However, this Section 10.4(a) will not limit, subordinate or modify claims against the Depositor for the right to payment, commitment to repurchase or other obligation of Depositor relating to:
Appears in 1 contract
Samples: Trust Agreement (CAB West LLC)