Common use of Termination of a Material Definitive Agreement Clause in Contracts

Termination of a Material Definitive Agreement. All parties as to themselves Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party. Examples: servicing agreement, custodial agreement. Item 1.03- Bankruptcy or Receivership Depositor Disclosure is required regarding the bankruptcy or receivership, with respect to any of the following: · Sponsor (Seller) Depositor/Sponsor (Seller) · Depositor Depositor · Servicer Servicer · Affiliated Servicer Servicer · Other Servicer servicing 20% or more of the pool assets at the time of the report Servicer · Other material servicers Servicer · Indenture Trustee Indenture Trustee · Administrator Administrator · Significant Obligor Depositor · Credit Enhancer (10% or more) Depositor · Derivative Counterparty Depositor · Owner Trustee Owner Trustee Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Depositor Servicer Administrator Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule. Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders.

Appears in 2 contracts

Sources: 2018 a Exchange Note Supplement (Mercedes-Benz Auto Lease Trust 2018-A), 2018 a Exchange Note Supplement (Mercedes-Benz Auto Lease Trust 2018-A)

Termination of a Material Definitive Agreement. All parties as to themselves Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party. Examples: servicing agreement, custodial agreement. Item 1.03- Bankruptcy or Receivership Depositor Disclosure is required regarding the bankruptcy or receivership, with respect to any of the following: · Sponsor (Seller) Depositor/Sponsor (Seller) · Depositor Depositor · Servicer Servicer · Affiliated Servicer Servicer · Other Servicer servicing 20% or more of the pool assets at the time of the report Servicer · Other material servicers Servicer · Indenture Trustee Indenture Trustee · Administrator Administrator · Significant Obligor Depositor · Credit Enhancer (10% or more) Depositor · Derivative Counterparty Depositor · Owner Trustee Owner Trustee Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Depositor Servicer Administrator Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule. Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders. Item 3.03- Material Modification to Rights of Security Holders Administrator Indenture Trustee Depositor Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement.

Appears in 1 contract

Sources: 2017 a Exchange Note Supplement (Mercedes-Benz Auto Lease Trust 2017-A)