Definition of 2018-A Lease


2018-A Lease means a Lease identified as a “2018-A Lease” in the Schedule of 2018-A Reference Pool Assets and included in the 2018-A Reference Pool, excluding any Lease for which the Repurchase Payment has been paid by the Servicer pursuant to Section 3.05(a) of the 2018-A Servicing Supplement.

Examples of 2018-A Lease in a sentence

The obligations of the Seller under this Agreement will not be affected by reason of any invalidity, illegality or irregularity of the 2018-A Exchange Note or any 2018-A Lease or 2018-A Vehicle allocated to the 2018-A Reference Pool.
The Indenture Trustee shall execute such documents and instruments and take such other actions as shall be reasonably requested by the Servicer to effect the release of such rights with respect to such2018-A Lease and related 2018-A Vehicle pursuant hereto and the assignment of such 2018-A Lease and 2018-A Vehicle by the Issuing Entity.
The Servicer shall deposit into the 2018-A Exchange Note Collection Account an amount equal to the related Repurchase Payment if the Servicer determines, in its sole discretion, that, as a result of a computer systems error or computer systems limitation or for any other reason, the Servicer is unable to service a 2018-A Lease and 2018-A Vehicle in accordance with the terms of the 2018-A Servicing Agreement.
If the Net Auction Proceeds are less than the Securitization Value of the related 2018-A Lease, the Servicer may deduct the difference from SUBI Collections in respect of one or more future Collection Periods and retain such amount as reimbursement for the outstanding portion of the related Sales Proceeds Advance.
The Servicer shall calculate the Securitization Value for each 2018-A Lease as of the Cutoff Date.