Common use of Collection of Payments; Extensions and Amendments Clause in Contracts

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 3 contracts

Samples: Servicing Agreement (CAB West LLC), Servicing Agreement (CAB East LLC), Servicing Agreement (CAB East LLC)

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Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2021-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2021-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2021-B), Servicing Agreement (Ford Credit Auto Lease Trust 2021-B)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2016-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2016-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Two LLC), Servicing Agreement (Ford Credit Auto Lease Two LLC)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2021-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2021-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2021-A), Servicing Agreement (Ford Credit Auto Lease Trust 2021-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2019-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2019-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2019-B), Servicing Agreement (Ford Credit Auto Lease Trust 2019-B)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2019-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2019-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2019-A), Servicing Agreement (Ford Credit Auto Lease Trust 2019-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2023-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2023-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2023-A), Servicing Agreement (Ford Credit Auto Lease Trust 2023-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2022-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2022-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2022-A), Servicing Agreement (Ford Credit Auto Lease Trust 2022-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2020-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2020-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2020-B), Servicing Agreement (Ford Credit Auto Lease Trust 2020-B)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2017-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2017-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2017-A), Servicing Agreement (Ford Credit Auto Lease Two LLC)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2023-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2023-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2023-B), Servicing Agreement (Ford Credit Auto Lease Trust 2023-B)

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Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2018-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2018-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2018-A), Servicing Agreement (Ford Credit Auto Lease Trust 2018-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2017-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2017-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2017-B), Servicing Agreement (Ford Credit Auto Lease Trust 2017-B)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2020-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2020-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2020-A), Servicing Agreement (Ford Credit Auto Lease Trust 2020-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2024-A Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2024-A Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2024-A), Servicing Agreement (Ford Credit Auto Lease Trust 2024-A)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 2018-B Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 2018-B Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2018-B), Servicing Agreement (Ford Credit Auto Lease Trust 2018-B)

Collection of Payments; Extensions and Amendments. The Servicer will use reasonable efforts to collect all payments due under each Lease in the 20 - 20__-__ Reference Pool. The Servicer may waive late payment charges or other fees that may be collected in the ordinary course of servicing a Lease. The Servicer may grant extensions, refunds, rebates or adjustments on a Lease or amend a Lease according to the Servicing Procedures. However, if the Servicer (a) grants a Payment Extension or Term Extension on a Lease in the 20 - 20__-__ Reference Pool resulting in the final payment date of the Lease being later than the Final Scheduled Payment Date of the most junior Class of Notes issued by the Issuer or (b) modifies the amount of the Base Payment due on a Lease, it will reallocate the Lease and the related Leased Vehicle to the Revolving Facility Pool under Section 3.3, unless it is required to take the action by law or court order.

Appears in 1 contract

Samples: Servicing Agreement (CAB East LLC)

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