Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 2019-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 2019-A Exchange Note), the 2019-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2019-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2019-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192020-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192020-A Exchange Note), the 20192020-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2020-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2020-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192018-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192018-A B Exchange Note), the 20192018-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2018-B), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2018-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192023-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192023-A Exchange Note), the 20192023-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 2019-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 2019-A B Exchange Note), the 2019-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2019-B), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2019-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192021-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192021-A Exchange Note), the 20192021-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2021-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2021-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192017-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192017-A Exchange Note), the 20192017-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2017-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2017-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192012-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192012-A Exchange Note), the 20192012-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Daimler Trust, (Mercedes-Benz Auto Lease Trust 2012-A), Daimler Trust, (Mercedes-Benz Auto Lease Trust 2012-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192020-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192020-A B Exchange Note), the 20192020-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2020-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192024-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192024-A Exchange Note), the 20192024-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2024-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192016-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192016-A Exchange Note), the 20192016-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2016-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2016-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192016-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192016-A B Exchange Note), the 20192016-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2016-B), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2016-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192021-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192021-A B Exchange Note), the 20192021-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2021-B), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2021-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192018-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192018-A Exchange Note), the 20192018-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 2 contracts
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2018-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2018-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192015-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192015-A B Exchange Note), the 20192015-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 1 contract
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2015-B)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192014-A Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192014-A Exchange Note), the 20192014-A Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 1 contract
Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2014-A)
Breach of Covenant. There is a default in the observance or performance of any covenant or agreement of the Borrower made in the Basic Collateral Agency Agreement or this 20192013-A B Exchange Note Supplement (other than a covenant or agreement, a default in the observance or performance of which is specifically covered by another Exchange Note Default with respect to the 20192013-A B Exchange Note), the 20192013-A B Exchange Noteholders are materially and adversely affected by such default and such default is not cured on or before the 60th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specifies the default; and
Appears in 1 contract
Samples: Daimler Trust (Mercedes-Benz Auto Lease Trust 2013-B)