UNITED STATES



SECURITIES AND EXCHANGE COMMISSION



WASHINGTON, D.C. 20549



FORM 10-K



(Mark One)



xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



For the fiscal year ended December 31, 2022



 ̈TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934



For the transition period from ______ to ______



Commission File Number of issuing entity: 333-231740-04



Central Index Key Number of issuing entity: 0001823672



WORLD OMNI AUTOMOBILE
LEASE SECURITIZATION TRUST 2020-B



(Exact name of issuing entity as specified in
its charter)



Central Index Key Number of depositor: 0001439697



WORLD OMNI AUTO
LEASING LLC



(Exact name of depositor as specified in its charter)



Central Index Key Number of sponsor: 0001004150



WORLD OMNI FINANCIAL
CORP.



(Exact name of sponsor as specified in its charter)



---



Delaware



(State or other jurisdiction of incorporation
or organization)



90-0399122



(I.R.S. Employer Identification No.)



250 Jim Moran Boulevard



Deerfield Beach, FL 33442



(Address of principal executive
offices)



Registrant's telephone number, including area
code: (954) 429-2200



Securities registered pursuant to Section 12(b) of
the Act:



None



Securities registered pursuant to Section 12(g) of
the Act:



None



Indicate
by check mark if the registrant is a well−known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes
 ̈              No x



Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.



Yes
 ̈              No x



Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.



Yes
x              No  ̈



Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405
of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files).



Yes
 ̈              No ̈



Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non−accelerated filer, a smaller reporting company or emerging
growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting
company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



|Large accelerated filer ̈          | Accelerated filer   ̈       
|--------------------------------- | ---------------------------
|                                  |                            
|Non-accelerated filer           x | Smaller reporting company  ̈
|                                  |                            
|                                  | Emerging growth company ̈   



If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ̈



Indicate
by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report. ̈



If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of
the registrant included in the filing reflect the correction of an error to previously issued financial statements. ̈



Indicate
by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ̈



Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b−2 of the Act).

Yes
 ̈              No x



State the aggregate market
value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently
completed second fiscal quarter.



Not applicable.



Indicate the number of shares
outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.



Not applicable.



DOCUMENTS INCORPORATED BY REFERENCE



List hereunder the following
documents if incorporated by reference and the part of the Form 10−K (e.g., Part I, Part II, etc.) into which
the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and, (3) Any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly
described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).



None.
























World Omni Automobile Lease Securitization Trust
2020-B



PART I



| | Item 1. | Business.
| | ------- | ---------



Not Applicable.



| | Item 1A. | Risk Factors.
| | -------- | -------------



Not Applicable.



| | Item 1B. | Unresolved Staff Comments.
| | -------- | --------------------------



None.



| | Item 2. | Properties.
| | ------- | -----------



Not Applicable.



| | Item 3. | Legal
                                            Proceedings.
| | ------- | --------------------------------------------------------------



Not Applicable.



| | Item 4. | Mine
                                            Safety Disclosures.
| | ------- | --------------------------------------------------------------------



None.



Substitute Information Provided in Accordance with General Instruction
J to Form 10-K:



ITEM 1112(B) OF REGULATION AB. SIGNIFICANT OBLIGORS OF POOL ASSETS
(FINANCIAL INFORMATION).



No single obligor represents 10% or more of the
pool assets held by World Omni Automobile Lease Securitization Trust 2020-B (the "Trust").



ITEM 1114(B)(2) OF REGULATION AB. CREDIT ENHANCEMENT AND OTHER
SUPPORT, EXCEPT FOR CERTAIN DERIVATIVES INSTRUMENTS (INFORMATION REGARDING SIGNIFICANT ENHANCEMENT PROVIDERS).



No entity or group of affiliated entities provides
any external credit enhancement or other support with respect to either payment on the pool assets held by the Trust or payments on the
notes (the "Notes") or certificates (the "Certificates") issued by the Trust.



ITEM 1115(B) OF REGULATION AB. CERTAIN DERIVATIVE INSTRUMENTS
(FINANCIAL INFORMATION).



Based on the standards set forth in Item 1115(b) of
Regulation AB, no information is required in response to this item.



ITEM 1117 OF REGULATION AB. LEGAL PROCEEDINGS.



The following events have been brought to our
attention by U.S. Bank National Association, in its capacity as indenture trustee:



U.S. Bank National Association (“U.S. Bank”)
and other large financial institutions have been sued in their capacity as trustee or successor trustee for certain residential mortgage
backed securities ("RMBS") trusts. The complaints, primarily filed by investors or investor groups against U.S. Bank and similar
institutions, allege the trustees caused losses to investors as a result of alleged failures by the sponsors, mortgage loan sellers and
servicers to comply with the governing agreements for these RMBS trusts. Plaintiffs generally assert causes of action based upon the
trustees’ purported failures to enforce repurchase obligations of mortgage loan sellers for alleged breaches of representations
and warranties, notify securityholders of purported events of default allegedly caused by breaches of servicing standards by mortgage
loan servicers and abide by a heightened standard of care following alleged events of default.



U.S. Bank denies liability and believes that
it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to investors, that
it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs’ claims vigorously. However,
U.S. Bank cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee or
the RMBS trusts.















On March 9, 2018, a law firm purporting
to represent fifteen Delaware statutory trusts (the “DSTs”) that issued securities backed by student loans (the “Student
Loans”) filed a lawsuit in the Delaware Court of Chancery against U.S. Bank in its capacities as indenture trustee and successor
special servicer, and three other institutions in their respective transaction capacities, with respect to the DSTs and the Student Loans.
This lawsuit is captioned The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al.,
C.A. No. 2018-0167-JRS (Del. Ch.) (the “NCMSLT Action”). The complaint, as amended on June 15, 2018, alleged that
the DSTs have been harmed as a result of purported misconduct or omissions by the defendants concerning administration of the trusts
and special servicing of the Student Loans. Since the filing of the NCMSLT Action, certain Student Loan borrowers have made assertions
against U.S. Bank concerning special servicing that appear to be based on certain allegations made on behalf of the DSTs in the NCMSLT
Action.



U.S. Bank has filed a motion seeking dismissal
of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in
the alternative, a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7,
2018, the Court ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21,
2020, the Court entered an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware
Court of Chancery concerning the DSTs and the Student Loans, which remains pending.



U.S. Bank denies liability in the NCMSLT Action
and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all material
respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends to continue
contesting the plaintiffs’ claims vigorously.



Except as described in the previous paragraphs,
no other legal proceedings are pending (or known to be contemplated by governmental authorities) against any of World Omni Financial
Corp. (the "Sponsor"), World Omni Auto Leasing LLC (the "Depositor"), the Indenture Trustee, the Trust or the other
parties described in Item 1117 of Regulation AB nor is any property of any of the foregoing entities subject to any such proceedings,
that are material to holders of the Notes or the Certificates.



PART II



| | Item 5. | Market for Registrant's Common Equity, Related Stockholder
                                            Matters and Issuer Purchases of Equity Securities.
| | ------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------



Not applicable.



| | Item 6. | [Reserved].
| | ------- | -----------



| | Item 7. | Management’s Discussion and Analysis of Financial Condition
                                            and Results of Operations.
| | ------- | ----------------------------------------------------------------------------------------------------------------------------------



Not applicable.



| | Item 7A. | Quantitative and Qualitative Disclosures About Market Risk.
| | -------- | -----------------------------------------------------------



Not applicable.



| | Item 8. | Financial
                                            Statements and Supplementary Data.
| | ------- | ----------------------------------------------------------------------------------------



Not applicable.



| | Item 9. | Changes In
                                            and Disagreements With Accountants on Accounting and Financial Disclosure.
| | ------- | ---------------------------------------------------------------------------------------------------------------------------------



Not applicable.



| | Item 9A. | Controls and Procedures.
| | -------- | ------------------------



Not applicable.



| | Item 9B. | Other Information.
| | -------- | ------------------



No other information.



| | Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.
| | -------- | --------------------------------------------------------------------



Not applicable.















PART III



| | Item 10. | Directors, Executive Officers and Corporate Governance.
| | -------- | -------------------------------------------------------



Not applicable because there
are no directors or executive officers of the registrant.



| | Item 11. | Executive Compensation.
| | -------- | -----------------------



Not applicable.



| | Item 12. | Security Ownership of Certain Beneficial Owners and Management
                                            and Related Stockholder Matters.
| | -------- | -------------------------------------------------------------------------------------------------------------------------------------------



Not Applicable.



| | Item 13. | Certain Relationships and Related Transactions, and Director
                                            Independence.
| | -------- | ----------------------------------------------------------------------------------------------------------------------



Not applicable.



| | Item 14. | Principal Accountant Fees and Services.
| | -------- | ---------------------------------------



Not applicable.



Substitute Information Provided in Accordance with General Instruction
J to Form 10-K:



ITEM 1119 OF REGULATION AB. AFFILIATIONS AND CERTAIN RELATIONSHIPS
AND RELATED TRANSACTIONS.



The Sponsor is the originator, as contemplated
by Item 1110 of Regulation AB, of all of the pool assets assigned to World Omni LT (the “Titling Trust”). The Titling Trust
issues exchange notes, which are secured by certain leases and leased vehicles allocated to the related reference pool of the Titling
Trust, including the 2020-B Reference Pool, to Auto Lease Finance LLC. Auto Lease Finance LLC has sold the exchange note secured by the
2020-B Reference Pool to the Depositor, which has transferred such exchange note to the Issuing Entity. The Sponsor is also the primary
servicer. The Depositor is a wholly-owned subsidiary of the Sponsor and, therefore, a wholly-owned subsidiary of the originator and the
primary servicer. Through its purchase of the Certificates, the Depositor has acquired a 100% ownership interest in the Trust; therefore,
the Trust is an affiliated party of the Depositor and, indirectly, of the Sponsor (including in its role as originator and primary servicer).



The Indenture Trustee is not affiliated with
any of the Sponsor (including in its role as originator and primary servicer), the Depositor or the Trust. However, the Indenture Trustee
is the parent of U.S. Bank Trust National Association (the “Owner Trustee”). As of March 15, 2021, U.S. Bank National
Association succeeded MUFG Union Bank, N.A. as indenture trustee under the indenture. Therefore, the Owner Trustee is a wholly-owned
subsidiary of the Indenture Trustee and is therefore an affiliated party of the Indenture Trustee and vice versa.



There are no significant obligors, external enhancement
or support providers, or other material parties related to the Notes or Certificates.



In addition, there are no business relationships,
agreements, arrangements, transactions or understandings outside the ordinary course of business or on terms other than would be obtained
in an arm's length transaction with an unrelated party, apart from the transaction involving the issuance of the Notes and Certificates,
or as otherwise disclosed herein, by the Trust, between the Sponsor, the Depositor or the Trust and any of the parties mentioned in this
Item.



ITEM 1122 OF REGULATION AB. COMPLIANCE WITH APPLICABLE SERVICING CRITERIA.



The Sponsor (in its role as servicer) and the
Indenture Trustee (collectively, the "Servicing Parties") have each been identified by the registrant as parties participating
in the servicing function with respect to the asset pool held by the Trust. Each of the Servicing Parties has completed a report on an
assessment of compliance with the servicing criteria applicable to it under Item 1122 of Regulation AB (each, a "Servicing Report"),
which Servicing Reports are attached as exhibits to this Form 10-K. In addition, each of the Servicing Parties has provided an attestation
report (each, an "Attestation Report") by one or more registered public accounting firms, which reports are also attached as
exhibits to this Form 10-K. Neither of the Servicing Reports prepared by the Servicing Parties, or the corresponding Attestation
Reports, has identified any material instance of noncompliance with the servicing criteria applicable to the respective Servicing Party.















ITEM 1123 OF REGULATION AB. SERVICER COMPLIANCE STATEMENT.



The Sponsor (in its role as servicer) has been
identified by the registrant as servicer with respect to the asset pool held by the Trust. The Sponsor has completed a statement of compliance
(a "Compliance Statement"), signed by an authorized officer of the Sponsor. The Compliance Statement is attached as an exhibit
to this Form 10-K.



PART IV



| | Item 15. | Exhibits, Financial Statement Schedules.
| | -------- | ----------------------------------------



(a)(1)	     Not applicable.



(a)(2)	     Not applicable.



(a)(3)	     See
Item 15(b) below.



(b)            The
following documents are included as part of, or incorporated by reference to, this annual report:



Exhibit No.



| | 1.1 | Underwriting Agreement, dated as of October 6, 2020, relating
                                            to the Trust. Incorporated by reference to Exhibit 1.1 to the Registrant’s Current
                                            Report on Form 8-K, Registration File Number 333-231740-04, filed with the Commission
                                            on October 8, 2020.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1 | Certificate of Formation of the Depositor. Incorporated by reference
                                            to Exhibit 3.1 to the Registrant’s Form SF-3, Registration File Number 333-264720,
                                            filed on May 5, 2022.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Certificate of Amendment of Certificate of Formation of the Depositor.
                                            Incorporated by reference to Exhibit 3.2 to the Registrant’s Form SF-3, Registration
                                            File Number 333-264720, filed on May 5, 2022.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.3 | Amended and Restated Limited Liability Company Agreement of the Depositor.
                                            Incorporated by reference to Exhibit 3.3 to the Registrant’s Form SF-3, Registration
                                            File Number 333-264720, filed on May 5, 2022.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.4 | Amendment No. 1 to Amended and Restated Limited Liability Company
                                            Agreement of the Depositor. Incorporated by reference to Exhibit 3.4 to the Registrant’s
                                            Form SF-3, Registration File Number 333-264720, filed on May 5, 2022.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1 | Indenture, dated as of October 14, 2020, relating to the Trust.
                                            Incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on
                                            Form 8-K, Registration File Number 333-231740-04, filed with the Commission on October 14,
                                            2020.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.1 | Second Amended and Restated Trust Agreement of World Omni LT among
                                            Auto Lease Finance LLC, World Omni Financial Corp., VT Inc., U.S. Bank National Association
                                            and U.S. Bank Trust National Association.  Incorporated by reference to Exhibit 3.6
                                            to the Registrant’s Form SF-3, Registration File Number 333-264720, filed on May 5,
                                            2022.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.2 | Exchange Note Sale Agreement, dated as of October 14, 2020,
                                            relating to the Trust. Incorporated by reference to Exhibit 10.1 to the Registrant’s
                                            Current Report on Form 8-K, Registration File Number 333-231740-04, filed with the Commission
                                            on October 14, 2020.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.3 | Exchange Note Transfer Agreement, dated as of October 14, 2020,
                                            relating to the Trust. Incorporated by reference to Exhibit 10.2 to the Registrant’s
                                            Current Report on Form 8-K, Registration File Number 333-231740-04, filed with the Commission
                                            on October 14, 2020.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.4 | 2020-B Exchange Note Supplement to Collateral Agency Agreement, dated
                                            as of October 14, 2020, relating to the Trust. Incorporated by reference to Exhibit 10.3
                                            to the Registrant’s Current Report on Form 8-K, Registration File Number 333-231740-04,
                                            filed with the Commission on October 14, 2020.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

















| | 10.5 | Exchange Note Servicing Supplement 2020-B to Closed-End Servicing
                                            Agreement, dated as of October 14, 2020, relating to the Trust. Incorporated by reference
                                            to Exhibit 10.4 to the Registrant’s Current Report on Form 8-K, Registration
                                            File Number 333-231740-04, filed with the Commission on October 14, 2020.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.6 | Fifth Amended and Restated Servicing Agreement among World Omni LT,
                                            AL Holding Corp. and World Omni Financial Corp. Incorporated by reference to Exhibit 10.4
                                            to the Registrant’s Form SF-3, Registration File Number 333-264720, filed on May 5,
                                            2022.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.7 | First Amendment to Fifth Amended and Restated Servicing Agreement
                                            among World Omni LT, AL Holding Corp. and World Omni Financial Corp. Incorporated by reference
                                            to Exhibit 10.5 to the Registrant’s Form SF-3, Registration File Number 333-264720,
                                            filed on May 5, 2022.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.8 | Second Amendment to Fifth Amended and Restated Servicing Agreement
                                            among World Omni LT, AL Holding Corp. and World Omni Financial Corp. Incorporated by reference
                                            to Exhibit 10.6 to the Registrant’s Form SF-3, Registration File Number 333-264720,
                                            filed on May 5, 2022.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.9 | Fourth Amended and Restated Collateral Agency Agreement among World
                                            Omni LT, AL Holding Corp., Bank of America, N.A., U.S. Bank National Association and the
                                            secured parties thereto from time to time.  Incorporated by reference to Exhibit 10.8
                                            to the Registrant’s Form SF-3, Registration File Number 333-264720, filed on May 5,
                                            2022.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.10 | First Amendment to Fourth Amended and Restated Collateral Agency
                                            Agreement among World Omni LT, AL Holding Corp., Bank of America, N.A., U.S. Bank National
                                            Association and the secured parties thereto from time to time.  Incorporated by reference
                                            to Exhibit 10.9 to the Registrant’s Form SF-3, Registration File Number 333-264720,
                                            filed on May 5, 2022.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.11 | Second Amendment to Fourth Amended and Restated Collateral Agency
                                            Agreement among World Omni LT, AL Holding Corp., Bank of America, N.A., U.S. Bank National
                                            Association and the secured parties thereto from time to time. Incorporated by reference
                                            to Exhibit 10.10 to the Registrant’s Form SF-3, Registration File Number
                                            333-264720, filed on May 5, 2022.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.12 | Third
                                            Amendment to Fourth Amended and Restated Collateral Agency Agreement among World Omni LT,
                                            AL Holding Corp., Bank of America, N.A., U.S. Bank National Association and the secured parties
                                            thereto from time to time. Incorporated by reference to Exhibit 10.11 to the Registrant’s
                                            Form SF-3, Registration File Number 333-264720, filed on May 5, 2022.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.13 | Fourth
                                            Amendment to Fourth Amended and Restated Collateral Agency Agreement among World Omni LT,
                                            World Omni Lease Finance LLC, Auto Lease Finance LLC, AL Holding Corp., Bank of America,
                                            N.A., U.S. Bank National Association and the secured parties thereto from time to time. Incorporated
                                            by reference to Exhibit 10.12 to the Registrant’s Form SF-3, Registration
                                            File Number 333-264720, filed on May 5, 2022.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.14 | Fifth
                                            Amendment to Fourth Amended and Restated Collateral Agency Agreement among World Omni LT,
                                            World Omni Lease Finance LLC, Auto Lease Finance LLC, AL Holding Corp., Bank of America,
                                            N.A., U.S. Bank National Association and the secured parties thereto from time to time. Incorporated
                                            by reference to Exhibit 10.13 to the Registrant’s Form SF-3, Registration
                                            File Number 333-264720, filed on May 5, 2022.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.15 | Sixth
                                            Amendment to Fourth Amended and Restated Collateral Agency Agreement among World Omni LT,
                                            World Omni Lease Finance LLC, Auto Lease Finance LLC, AL Holding Corp., Bank of America,
                                            N.A., U.S. Bank National Association and the secured parties thereto from time to time. Incorporated
                                            by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K,
                                            Registration File Number 333-152253, filed with the Commission on October 26, 2022.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------















| | 10.16 | Third Amended and Restated Pledge and Security Agreement between
                                            World Omni LT and AL Holding Corp.  Incorporated by reference to Exhibit 10.14
                                            to the Registrant’s Form SF-3, Registration File Number 333-264720, filed on May 5,
                                            2022.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 31.1 | Rule 13a-14(d)/15d-14(d) Certification.
| | ---- | ---------------------------------------



| | 33.1 | Report on Assessment of Compliance with Applicable Servicing Criteria
                                            of World Omni Financial Corp., as Servicer.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 33.2 | Management’s Assertion Report on Assessment of Compliance with
                                            Servicing Criteria Pursuant to Item 1122 of Regulation AB under the Securities Exchange Act
                                            of 1934 of U.S. Bank National Association, as Indenture Trustee.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 34.1 | Report of Independent Registered
Public Accounting Firm of PricewaterhouseCoopers LLP, on behalf of World Omni Financial Corp.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------



| | 34.2 | Report of Independent Registered Public Accounting Firm of Ernst &
                                            Young LLP, on behalf of U.S. Bank National Association.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 35.1 | Servicer Compliance Statement of World Omni Financial Corp.,
as Servicer.
| | ---- | -------------------------------------------------------------------------



| | 99.1 | Trust Agreement, dated as of October 14, 2020, relating to the
                                            Trust. Incorporated by reference to Exhibit 99.1 to the Registrant’s Current Report
                                            on Form 8-K, Registration File Number 333-231740-04, filed with the Commission on October 14,
                                            2020.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.2 | Administration Agreement, dated as of October 14, 2020, relating
                                            to the Trust. Incorporated by reference to Exhibit 99.2 to the Registrant’s Current
                                            Report on Form 8-K, Registration File Number 333-231740-04, filed with the Commission
                                            on October 14, 2020.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.3 | Asset Representations Review Agreement, dated as of October 14,
                                            2020, relating to the Trust. Incorporated by reference to Exhibit 99.3 to the Registrant’s
                                            Current Report on Form 8-K, Registration File Number 333-231740-04, filed with the Commission
                                            on October 14, 2020.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | Not applicable.
| | --- | ---------------



Item 16.	          Form 10-K
Summary.



None.















SIGNATURES



Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.



| | World Omni Automobile Lease Securitization Trust 2020-B
| | -------------------------------------------------------
| |                                                        
| | By: World Omni Financial Corp.,                        
| | as Servicer on behalf of the Trust                     



Date: March 24, 2023



| | /s/ Michael Hollis                                  
| | ----------------------------------------------------
| | Michael Hollis                                      
| | Vice President                                      
| | (Senior officer in charge of the servicing function)
| | World Omni Financial Corp.                          
| | (Servicer on behalf of the Trust)                   



Supplemental Information to be Furnished
With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant to Section 12
of the Act.



No annual report or proxy materials have been
sent to security holders and no such report or proxy materials are to be furnished to security holders subsequent to the filing of this
Annual Report on Form 10-K.