Common use of Extensions; Monthly Payments; Term Clause in Contracts

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 2012-1 Lease or re-lease a 2012-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 2012-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 2012-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 2012-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 2012-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 2012-1 Lease and the related 2012-1 Vehicle from the 2012-1 SUBI to the UTI or cause such 2012-1 Lease and 2012-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122015-1 Lease or re-lease a 20122015-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122015-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122015-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122015-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122015-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122015-1 Lease and the related 20122015-1 Vehicle from the 20122015-1 SUBI to the UTI or cause such 20122015-1 Lease and 20122015-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122011-1 Lease or re-lease a 20122011-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122011-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122011-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122011-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122011-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122011-1 Lease and the related 20122011-1 Vehicle from the 20122011-1 SUBI to the UTI or cause such 20122011-1 Lease and 20122011-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122015-1 2 Lease or re-lease a 20122015-1 2 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122015-1 2 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122015-1 2 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122015-1 2 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122015-1 2 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122015-1 2 Lease and the related 20122015-1 2 Vehicle from the 20122015-1 2 SUBI to the UTI or cause such 20122015-1 2 Lease and 20122015-1 2 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122013-1 Lease or re-lease a 20122013-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122013-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122013-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122013-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122013-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122013-1 Lease and the related 20122013-1 Vehicle from the 20122013-1 SUBI to the UTI or cause such 20122013-1 Lease and 20122013-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122010-1 Lease or re-lease a 20122010-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122010-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122010-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122010-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122010-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122010-1 Lease and the related 20122010-1 Vehicle from the 20122010-1 SUBI to the UTI or cause such 20122010-1 Lease and 20122010-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.

Extensions; Monthly Payments; Term. (a) Consistent with its customary servicing practices, the Servicer may, in its discretion, modify or extend the term of a 20122014-1 Lease or re-lease a 20122014-1 Lease; provided, that if (i) the Servicer makes an extension that exceeds six months or (ii) the related 20122014-1 Lease as extended would mature later than the last day of the Collection Period preceding the Class A-4 Note Final Scheduled Payment Date or the 20122014-1 Vehicle is re-leased, the Servicer shall, on the Deposit Date related to the Collection Period in which the Servicer discovers or is notified that such event described in clauses (i) or (ii) has occurred, (x) deposit or cause to be deposited into the 20122014-1 SUBI Collection Account an amount equal to the Securitization Value (with respect to extensions) or the Contract Residual Value (with respect to re-leases) of the related 20122014-1 Lease as of the last day of the related Collection Period and (y) direct the Vehicle Trustee to either reallocate such 20122014-1 Lease and the related 20122014-1 Vehicle from the 20122014-1 SUBI to the UTI or cause such 20122014-1 Lease and 20122014-1 Vehicle to be conveyed to the Servicer as described in Section 2.3.