Common use of Action by Trust Certificateholders with Respect to Certain Matters Clause in Contracts

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 Exchange Noteholder pursuant to the 2017-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 3 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2017-3), Trust Agreement (GM Financial Automobile Leasing Trust 2017-3), Trust Agreement (GM Financial Automobile Leasing Trust 2017-3)

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Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172015-3 Exchange Noteholder pursuant to the 20172015-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172015-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172018-3 1 Exchange Noteholder pursuant to the 20172018-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172018-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2018-1), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172021-3 2 Exchange Noteholder pursuant to the 20172021-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172021-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2021-2), Trust Agreement (GM Financial Automobile Leasing Trust 2021-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172023-3 1 Exchange Noteholder pursuant to the 20172023-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172023-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2023-1), Trust Agreement (GM Financial Automobile Leasing Trust 2023-1)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172020-3 2 Exchange Noteholder pursuant to the 20172020-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172020-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2020-2), Trust Agreement (GM Financial Automobile Leasing Trust 2020-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172015-3 1 Exchange Noteholder pursuant to the 20172015-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172015-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2015-1), Trust Agreement (GM Financial Automobile Leasing Trust 2015-1)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172024-3 1 Exchange Noteholder pursuant to the 20172024-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172024-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2024-1), Trust Agreement (GM Financial Automobile Leasing Trust 2024-1)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172016-3 2 Exchange Noteholder pursuant to the 20172016-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172016-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172016-3 1 Exchange Noteholder pursuant to the 20172016-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172016-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172016-3 Exchange Noteholder pursuant to the 20172016-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172016-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172023-3 2 Exchange Noteholder pursuant to the 20172023-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172023-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2023-2), Trust Agreement (GM Financial Automobile Leasing Trust 2023-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172021-3 Exchange Noteholder pursuant to the 20172021-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172021-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2021-3), Trust Agreement (GM Financial Automobile Leasing Trust 2021-3)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172023-3 Exchange Noteholder pursuant to the 20172023-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172023-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2023-3), Trust Agreement (GM Financial Automobile Leasing Trust 2023-3)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172019-3 1 Exchange Noteholder pursuant to the 20172019-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172019-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172020-3 1 Exchange Noteholder pursuant to the 20172020-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172020-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: GM Financial Automobile Leasing Trust 2020-1, GM Financial Automobile Leasing Trust 2020-1

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172015-3 2 Exchange Noteholder pursuant to the 20172015-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172015-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172021-3 1 Exchange Noteholder pursuant to the 20172021-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172021-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2021-1), Trust Agreement (GM Financial Automobile Leasing Trust 2021-1)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 1 Exchange Noteholder pursuant to the 2017-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172019-3 Exchange Noteholder pursuant to the 20172019-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172019-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

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Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 2 Exchange Noteholder pursuant to the 2017-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GM Financial Automobile Leasing Trust 2017-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172019-3 2 Exchange Noteholder pursuant to the 20172019-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172019-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GMF Leasing LLC)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172020-3 Exchange Noteholder pursuant to the 20172020-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172020-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2020-3), Trust Agreement (GM Financial Automobile Leasing Trust 2020-3)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172022-3 2 Exchange Noteholder pursuant to the 20172022-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172022-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2022-2), Trust Agreement (GM Financial Automobile Leasing Trust 2022-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172018-3 Exchange Noteholder pursuant to the 20172018-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172018-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 2 contracts

Samples: Trust Agreement (GMF Leasing LLC), Trust Agreement (GM Financial Automobile Leasing Trust 2018-3)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172022-3 1 Exchange Noteholder pursuant to the 20172022-3 1 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172022-3 1 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2022-1)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 20 - Exchange Noteholder pursuant to the 2017-3 20 - Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 20 - Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (ACAR Leasing Ltd.)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172018-3 2 Exchange Noteholder pursuant to the 20172018-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 20172018-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2018-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172022-3 Exchange Noteholder pursuant to the 20172022-3 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172022-3 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2022-3)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 20172018-3 2 Exchange Noteholder pursuant to the 20172018-3 2 Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3% of the Percentage Interests, remove the Servicer with respect to the 20172018-3 2 Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2018-2)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 20 - Exchange Noteholder pursuant to the 2017-3 20 - Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/3662⁄3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 20 - Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (ACAR Leasing Ltd.)

Action by Trust Certificateholders with Respect to Certain Matters. (a) Subject to the provisions and limitations of this Agreement, to the extent the Owner Trustee or the Securitization Trust is deemed to be the 2017-3 20 - Exchange Noteholder pursuant to the 2017-3 20 - Exchange Note Supplement and the Credit and Security Agreement, subsequent to the payment in full of all obligations secured by the Indenture, the Owner Trustee or Securitization Trust, as the case may be, shall take such actions as directed in writing by Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests. The Securitization Trust may not, except upon the occurrence of a Servicer Default, subsequent to the payment in full of the Notes and in accordance with the written directions of Trust Certificateholders of Trust Certificates evidencing at least 662/366 2⁄3% of the Percentage Interests, remove the Servicer with respect to the 2017-3 20 - Exchange Note or appoint a Successor Servicer with respect thereto.

Appears in 1 contract

Samples: Trust Agreement (ACAR Leasing Ltd.)

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