Reallocation on Payment in Full or Cancellation. On payment in full of the 2020-A Exchange Note or cancellation of the 2020-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2020-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2020-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: 2020 a Exchange Note Supplement (Ford Credit Auto Lease Trust 2020-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202025-A B Exchange Note or cancellation of the 20202025-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202025-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202025-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202019-A Exchange Note or cancellation of the 20202019-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202019-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202019-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202023-A Exchange Note or cancellation of the 20202023-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202023-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202023-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202017-A B Exchange Note or cancellation of the 20202017-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202017-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202017-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202024-A B Exchange Note or cancellation of the 20202024-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202024-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202024-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B)
Reallocation on Payment in Full or Cancellation. On payment repayment in full of the 20202016-A Exchange Note or cancellation of the 20202016-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202016-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202016-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Two LLC), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202018-A B Exchange Note or cancellation of the 20202018-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202018-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202018-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202022-A Exchange Note or cancellation of the 20202022-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202022-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202022-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2022-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2022-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202025-A Exchange Note or cancellation of the 20202025-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202025-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202025-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202021-A Exchange Note or cancellation of the 20202021-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202021-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202021-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202021-A B Exchange Note or cancellation of the 20202021-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202021-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202021-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 2020-A B Exchange Note or cancellation of the 2020-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 2020-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 2020-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202024-A Exchange Note or cancellation of the 20202024-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202024-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202024-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202017-A Exchange Note or cancellation of the 20202017-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202017-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202017-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-A), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202018-A Exchange Note or cancellation of the 20202018-A Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202018-A Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202018-A Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Exchange Note Supplement (Ford Credit Auto Lease Trust 2018-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-A)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202019-A B Exchange Note or cancellation of the 20202019-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202019-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202019-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: 2019 B Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B)
Reallocation on Payment in Full or Cancellation. On payment in full of the 20202023-A B Exchange Note or cancellation of the 20202023-A B Exchange Note at the direction of the Servicer under Section 6.1(b) of the Servicing Supplement, the 20202023-A B Reference Pool will terminate and the Leases and Leased Vehicles allocated to the 20202023-A B Reference Pool at that time will be reallocated to the Revolving Facility Pool.
Appears in 2 contracts
Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B)