Definition of 2019-A Lease


2019-A Lease means a Lease identified as a “2019-A Lease” in the Schedule of 2019-A Reference Pool Assets and included in the 2019-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 2019-A Servicing Supplement.

Examples of 2019-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 2019-A Exchange Note or any 2019-A Lease or 2019-A Vehicle allocated to the 2019-A Reference Pool.
Upon discovery by the Servicer, the Titling Trustee, the Owner Trustee or the Depositor or upon actual knowledge by a Responsible Officer of the Indenture Trustee of a breach of any representation or warranty in this Section 8.02(b) that materially adversely affects the interest of the Securityholders in the related 2019-A Lease or 2019-A Vehicle, the entity discovering such breach shall give prompt written notice to the other parties to this Agreement and to the Indenture Trustee.
For avoidance of doubt, following delivery of such notice and request to NMAC, the Indenture Trustee shall have no responsibility or liability for the determination by NMAC whether or not to purchase or reallocate to the UTI the related 2019-A Lease and the related 2019-A Vehicle or for monitoring whether or not such purchase or reallocation occurs.
Any such request, and any related direction to the Indenture Trustee, shall identify the 2019-A Lease and the related 2019-A Vehicle, as well as the related breach of representation or warranty.
Upon the deposit of the Repurchase Payment for any 2019-A Lease and 2019-A Vehicle pursuant to Section 3.05(a), such 2019-A Lease and 2019-A Vehicle will be reallocated to the Revolving Facility Pool at the direction of the Servicer and will no longer be included in the 2019-A Reference Pool.