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Common use of Exchange Note Clause in Contracts

Exchange Note. At any time the Note Principal Balance of the Notes is reduced to zero, the Exchange Note Balance will be reduced to zero at such time.

Appears in 2 contracts

Sources: 2026 2 Exchange Note Supplement (GM Financial Automobile Leasing Trust 2026-2), 2026 2 Exchange Note Supplement (GM Financial Automobile Leasing Trust 2026-2)

Parent Clauses

  • Issuance of Exchange Note
  • CONDITIONS TO CLOSING OF PURCHASER
  • Covenants of the Company

Sub-Clauses

  • Exchange Noteholder Representations
  • Authorization, Execution and Delivery
  • Initial Deposit
  • Terms of Exchange Note
  • Distribution Following Event of Default
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