<PAGE>

                                                                   Exhibit 10.12

--------------------------------------------------------------------------------

                                   NILT TRUST,
                                 as Transferor,

                                       and

                           NISSAN AUTO LEASING LLC II,
                                  as Transferee

                             ----------------------

                                SUBI CERTIFICATE
                               TRANSFER AGREEMENT

                           Dated as of _________, 2004

                             ----------------------

--------------------------------------------------------------------------------

<PAGE>

                       SUBI CERTIFICATE TRANSFER AGREEMENT

      This SUBI Certificate Transfer Agreement, dated as of _________, 2004, is
between NILT Trust, a Delaware statutory trust ("NILT Trust"), as transferor
(the "Transferor"), and Nissan Auto Leasing LLC II, a Delaware limited liability
company ("NALL II"), as transferee (the "Transferee").

                                    RECITALS

      A. Nissan-Infiniti LT (the "Titling Trust") is a Delaware statutory trust
governed by the Amended and Restated Trust and Servicing Agreement, dated as of
August 26, 1998 (the "Titling Trust Agreement"), by and among the NILT Trust, as
grantor and initial beneficiary (in such capacity, the "Grantor" and the "UTI
Beneficiary," respectively), Nissan Motor Acceptance Corporation, a California
corporation ("NMAC"), as Servicer (the "Servicer"), Wilmington Trust Company, a
Delaware banking corporation ("Wilmington Trust"), as Delaware trustee ("Delware
Trustee"), NILT, Inc., a Delaware corporation, as trustee (the "Trustee"), and
U.S. Bank National Association, a national banking association ("U.S. Bank"), as
trust agent (the "Trust Agent");

      B. Pursuant to the Titling Trust Agreement, the purposes of the Titling
Trust include taking assignments and conveyances of and holding in trust various
assets (the "Trust Assets");

      C. NILT Trust, the Servicer, the Trustee, the Delaware Trustee and the
Trust Agent are entering into the 2004-A SUBI Supplement, dated as of _________,
2004 (the "2004-A SUBI Supplement", and together with the Titling Trust
Agreement, the "SUBI Trust Agreement"), to (i) establish a special unit of
beneficial interest, the "2004-A SUBI" and (ii) identify and allocate certain
Trust Assets to the 2004-A SUBI;

      D. Pursuant to the SUBI Trust Agreement a separate portfolio of leases
(the "2004-A Leases"), the vehicles that are leased under the 2004-A Leases (the
"2004-A Vehicles"), and certain other related Trust Assets have been allocated
to the 2004-A SUBI;

      E. The Titling Trust has issued a certificate evidencing a 100% beneficial
interest in the 2004-A SUBI (the "2004-A SUBI Certificate") to the Transferor;

      F. The Transferor and the Transferee desire to provide for the sale,
transfer, and assignment by the Transferor to the Transferee, without recourse,
of all of the Transferor's right, title, and interest in the 2004-A SUBI
Certificate; and

      G. Immediately after the transfer and assignment of the 2004-A SUBI
Certificate to the Transferee, the Transferee shall sell, transfer, and assign
all of its right, title and interest in the 2004-A SUBI Certificate to the
Nissan Auto Lease Trust 2004-A in connection with a securitization.

      NOW, THEREFORE, in consideration of the mutual agreements herein
contained, and of other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

                                             SUBI Certificate Transfer Agreement

                                       2

<PAGE>

                                   ARTICLE ONE
                                   DEFINITIONS

      Section 1.01. Definitions. Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in the Agreement of
Definitions, dated as of _________, 2004, by and among Nissan Auto Lease Trust
2004-A, as issuer (the "Issuer"), NILT Trust, as Grantor and Initial
Beneficiary, the Titling Trust, NMAC, in its individual capacity, as Servicer
and as administrative agent (in such capacity, the "Administrative Agent"), NALL
II, the Trustee, Wilmington Trust, as Delaware Trustee and owner trustee (in
such capacity, the "Owner Trustee") and U.S. Bank, as Trust Agent and indenture
trustee (in such capacity, the "Indenture Trustee").

      Section 1.02. Interpretive Provisions. For all purposes of this Agreement,
except as otherwise expressly provided or unless the context otherwise requires,
(i) terms used in this Agreement include, as appropriate, all genders and the
plural as well as the singular, (ii) references to words such as "herein",
"hereof", and the like shall refer to this Agreement as a whole and not to any
particular part, Article, or Section within this Agreement, (iii) the term
"include" and all variations thereof shall mean "include without limitation",
(iv) the term "or" shall include "and/or", (v) the term "proceeds" shall have
the meaning ascribed thereto in the UCC, and (vi) any defined term that relates
to a document shall include within its definition any amendments, modifications,
renewals, restatements, extensions, supplements, or substitutions that have been
or are hereafter executed and delivered in accordance with the terms thereof,
except that references to the SUBI Trust Agreement include only such items as
relate to the 2004-A SUBI and the Titling Trust.

      Any reference in this 2004-A SUBI Certificate Transfer Agreement to any
agreement means such agreement as it may be amended, restated, supplemented
(only to the extent such agreement as supplemented relates to the Notes), or
otherwise modified from time to time, except that references to the SUBI Trust
Agreement include only such items as relate to the 2004-A SUBI and the Titling
Trust. Any reference in this 2004-A SUBI Certificate Transfer Agreement to any
law, statute, regulation, rule, or other legislative action shall mean such law,
statute, regulation, rule, or other legislative action as amended, supplemented,
or otherwise modified from time to time, and shall include any rule or
regulation promulgated thereunder. Any reference in this 2004-A SUBI Certificate
Transfer Agreement to a Person shall include the successor or assignee of such
Person.

                                   ARTICLE TWO
                       TRANSFER OF 2004-A SUBI CERTIFICATE

      Section 2.01. Transfer of 2004-A SUBI Certificate.

      In consideration of the Transferee's delivery to, or upon the order of,
the Transferor of $_________ (the "Transfer Price") in cash by federal wire
transfer (same day) funds, of which an amount equal to approximately _________%
of the Transfer Price will represent the proceeds of a capital contribution from
NMAC to the Transferee, the Transferor hereby absolutely sells,

                                             SUBI Certificate Transfer Agreement

                                       3

<PAGE>

transfers, assigns, and otherwise conveys to the Transferee, without recourse,
and the Transferee does hereby purchase and acquire, as of the date set forth
above, all of the Transferor's right, title, and interest in and to the
following (collectively, the "Assets"):

            (i) the 2004-A SUBI Certificate and the interest in the 2004-A SUBI
      represented thereby, including all monies due and paid or to become due
      and paid or payable thereon or in respect thereof;

            (ii) all of the Transferor's rights and benefits as holder of the
      2004-A SUBI Certificate under the Servicing Agreement and the SUBI Trust
      Agreement;

            (iii) the right to realize upon any property that underlies or may
      be deemed to secure the interest in the 2004-A SUBI represented by the
      2004-A SUBI Certificate, as granted in the 2004-A SUBI Supplement and in
      the 2004-A SUBI Certificate;

            (iv) all general intangibles, chattel paper, instruments, documents,
      money, deposit accounts, certificates of deposit, securities accounts,
      investment property, financial assets, goods, letters of credit, letters
      of credit rights, advices of credit and uncertificated securities, and
      other property consisting of, arising from, or relating or credited to the
      foregoing; and

            (v) all cash and non-cash proceeds of all of the foregoing.

      Section 2.02. True Sale. The parties hereto intend that the sale,
transfer, and assignment of the Assets constitutes a true sale and assignment of
the Assets such that any interest in and title to the Assets would not be
property of the Transferor's estate in the event that the Transferor becomes a
debtor in a case under any bankruptcy law. To the extent that the conveyance of
the Assets hereunder is characterized by a court or similar governmental
authority as a financing, it is intended by the Transferor and the Transferee
that the interest conveyed constitutes a grant of a security interest under the
UCC as in effect in the State of Delaware by the Transferor to the Transferee to
secure the Transfer Price to the Transferor, which security interest shall be
perfected and of a first priority. The Transferor hereby grants to the
Transferee a security interest in all of its right, title, and privilege and
interest in and to the Assets and the parties hereto agree that this Agreement
constitutes a "security agreement" under all applicable laws.

      Section 2.03. Representations and Warranties of the Transferor and the
Transferee.

      (a) The Transferor hereby represents and warrants to the Transferee as of
the date of this Agreement and the Closing Date that:

            (i) Organization and Good Standing. The Transferor is a statutory
      trust duly formed, validly existing, and in good standing under the laws
      of the State of Delaware, and has the power and the authority to own its
      properties and to conduct its business as such properties are currently
      owned and such business is presently conducted, and had at all relevant
      times, and shall have, power, authority and legal right to acquire, own
      and sell the Assets.

                                             SUBI Certificate Transfer Agreement

                                       4

<PAGE>

            (ii) Due Qualification. The Transferor is duly qualified to do
      business as a foreign business trust in good standing, and has obtained
      all necessary licenses and approvals in all jurisdictions in which the
      ownership or lease of property or the conduct of its business shall
      require such qualifications, except where the failure to have any such
      license, approval, or qualification would not have a Material Adverse
      Effect on the Transferor.

            (iii) Power and Authority. The Transferor has the power and
      authority to execute and deliver this Agreement and to carry out its
      terms; and the execution, delivery, and performance of this Agreement has
      been duly authorized by the Transferor by all necessary action.

            (iv) Binding Obligation. This Agreement constitutes a legal, valid,
      and binding obligation of the Transferor, enforceable against it in
      accordance with its terms, except as enforceability may be subject to or
      limited by bankruptcy, insolvency, reorganization, moratorium,
      liquidation, or other similar laws affecting the enforcement of creditors'
      rights in general and by general principles of equity, regardless of
      whether such enforceability shall be considered in a proceeding in equity
      or at law.

            (v) No Violation. The execution, delivery, and performance by the
      Transferor of this Agreement, the consummation of the transactions
      contemplated by this Agreement, and the fulfillment of the terms hereof do
      not (A) conflict with, or result in any breach of any of the terms and
      provisions of, or constitute (with or without notice or lapse of time) a
      default under the Transferor's trust agreement, or (B) conflict with or
      breach any of the material terms or provisions of, or constitute (with or
      without notice or lapse of time) a default under any indenture, agreement
      or other instrument to which the Transferor is a party or by which it may
      be bound or any of its properties are subject; or (C) result in the
      creation or imposition of any Lien upon any of its properties pursuant to
      the terms of any material indenture, agreement, or other instrument (other
      than as permitted by the Basic Documents); or (D) violate any law or, to
      the knowledge of the Transferor, any order, rule, or regulation applicable
      to it or its properties, or (E) contravene, violate, or result in a
      default under any judgment, injunction, order, decree, or other instrument
      of any court or of any federal or state regulatory body, administrative
      agency or other governmental instrumentality having jurisdiction over the
      Transferor or any of its properties, except to the extent that such
      contravention, violation, or default would not be likely to have a
      Material Adverse Effect.

            (vi) No Proceedings. There are no proceedings in which the
      Transferor has been served or, to the knowledge of the Transferor,
      proceedings or investigations that are pending or threatened in each case
      against the Transferor, before any court, regulatory body, administrative
      agency or other tribunal, or governmental instrumentality (A) asserting
      the invalidity of this Agreement, (B) seeking to prevent the consummation
      of any of the transactions contemplated by this Agreement or (C) seeking
      any determination or ruling that, in the reasonable judgment of the
      Transferor, could reasonably be expected to materially and adversely
      affect the performance by the Transferor of its obligations under this
      Agreement.

                                             SUBI Certificate Transfer Agreement

                                       5

<PAGE>

            (vii) Title to 2004-A SUBI Certificate. Immediately prior to the
      transfer of the 2004-A SUBI Certificate pursuant to this Agreement, the
      Transferor (A) is the true and lawful owner of the 2004-A SUBI Certificate
      and it has the legal right to transfer the 2004-A SUBI Certificate, (B)
      has good and valid title to the 2004-A SUBI Certificate and the 2004-A
      SUBI Certificate is on the date hereof free and clear of all Liens and (C)
      will convey good, valid, and indefeasible title to the 2004-A SUBI
      Certificate to the Transferee under this Agreement.

      (b) The Transferee hereby represents and warrants to the Transferor as of
the date of this Agreement and the Closing Date that:

            (i) Organization and Good Standing. The Transferee is a limited
      liability company duly organized, validly existing, and in good standing
      under the laws of the State of Delaware, has the power and the authority
      to own its properties and to conduct its business as such properties are
      currently owned and such business is presently conducted, and had at all
      relevant times, and shall have, power, authority, and legal right to
      acquire, own and sell the Assets.

            (ii) Due Qualification. The Transferee is duly qualified to do
      business as a foreign limited liability company in good standing, and has
      obtained all necessary licenses and approvals in all jurisdictions in
      which the ownership or lease of property or the conduct of its business
      shall require such qualifications, except where the failure to have any
      such license, approval or qualification would not have a Material Adverse
      Effect on the condition, financial or otherwise, of the Transferee or
      would not have a Material Adverse Effect on the ability of the Transferee
      to perform its obligations under this Agreement.

            (iii) Power and Authority. The Transferee has the power and
      authority to execute and deliver this Agreement and to carry out its
      terms; and the execution, delivery, and performance of this Agreement has
      been duly authorized by the Transferee by all necessary action.

            (iv) Binding Obligation. This Agreement constitutes a legal, valid,
      and binding obligation of the Transferee, enforceable against it in
      accordance with its terms, except as enforceability may be subject to or
      limited by bankruptcy, insolvency, reorganization, moratorium,
      liquidation, or other similar laws affecting the enforcement of creditors'
      rights in general and by general principles of equity, regardless of
      whether such enforceability shall be considered in a proceeding in equity
      or at law.

            (v) No Violation. The execution, delivery, and performance of this
      Agreement by the Transferee and the consummation of the transactions
      contemplated by this Agreement and the fulfillment of the terms hereof do
      not (A) conflict with, result in any breach of any of the terms and
      provisions of, or constitute (with or without notice or lapse of time) a
      default under, the limited liability company agreement of the Transferee;
      or (B) conflict with or breach any of the material terms or provisions of,
      or constitute (with or without notice or lapse of time) a default under,
      any indenture, agreement, or other instrument to which the Transferee is a
      party or by which it may be bound or any of

                                             SUBI Certificate Transfer Agreement

                                       6

<PAGE>

      its properties are subject; or (C) result in the creation or imposition of
      any Lien upon any of its properties pursuant to the terms of any material
      indenture, agreement, or other instrument (other than as permitted by the
      Basic Documents); or (D) violate any law or, to the knowledge of the
      Transferee, any order, rule, or regulation applicable to it or its
      properties; or (E) contravene, violate, or result in a default under any
      judgment, injunction, order, decree, or other instrument of any court or
      of any federal or state regulatory body, administrative agency, or other
      governmental instrumentality having jurisdiction over the Transferee or
      any of its properties, except to the extent that such contravention,
      violation, or default would not be likely to have a Material Adverse
      Effect.

            (vi) No Proceedings. There are no proceedings in which the
      Transferee has been served or, to the knowledge of the Transferee,
      proceedings or investigations that are pending or threatened, in each case
      against the Transferee, before any court, regulatory body, administrative
      agency, or other tribunal or governmental instrumentality (A) asserting
      the invalidity of this Agreement, (B) seeking to prevent the consummation
      of any of the transactions contemplated by this Agreement or (C) seeking
      any determination or ruling that, in the reasonable judgment of the
      Transferee, would materially and adversely affect the performance by the
      Transferee of its obligations under this Agreement.

      (c) The representations and warranties set forth in this Section shall
survive the sale of the Assets by the Transferor to the Transferee and the sale
of the Assets by the Transferee to the Trust. Upon discovery by the Transferor,
the Transferee, or the Trustee of a breach of any of the foregoing
representations and warranties, the party discovering such breach shall give
prompt written notice to the others.

      Section 2.04. Financing Statement and Books and Records.

      (a) In connection with the conveyance of the Assets hereunder, the
Transferor agrees that prior to the Closing Date it will deliver to the
Transferee, with all requisite endorsements, the 2004-A SUBI Certificate and
will file, at its own expense, one or more financing statements with respect to
the Assets meeting the requirements of applicable state law in such manner as
necessary to perfect the sale of the Assets, and the proceeds thereof to the
Transferor (and any continuation statements as are required by applicable state
law), and to deliver a file-stamped copy of each such financing statement (or
continuation statement) or other evidence of such filings (which may, for
purposes of this Section 2.04, consist of telephone confirmation of such filings
with the file stamped copy of each such filing to be provided to the Transferee
in due course), as soon as is practicable after receipt by the Transferor
thereof.

      (b) The Transferor further agrees that it will treat the transfer of the
Assets as a sale for accounting purposes, take no actions inconsistent with the
Transferee's ownership of the Assets and on or prior to the Closing Date
indicate on its books, records, and statements that the Assets have been sold to
the Transferee.

      Section 2.05. Acceptance by the Transferee. The Transferee agrees to
comply with all covenants and restrictions applicable to a Holder of the 2004-A
SUBI Certificate and the interest in the 2004-A SUBI represented thereby,
whether set forth in the 2004-A SUBI Certificate, in

                                             SUBI Certificate Transfer Agreement

                                       7

<PAGE>

the SUBI Trust Agreement, or otherwise, and assumes all obligations and
liabilities, if any, associated therewith.

      Section 2.06. Release of Claims. Pursuant to Section 3.04(b) of the
Titling Trust Agreement and Section 12.02(b) of the 2004-A SUBI Supplement, the
Transferee hereby covenants and agrees for the express benefit of each holder
from time to time of a UTI Certificate and any other SUBI Certificate that the
Transferee shall release all claims to the UTI Assets and the related Other SUBI
Assets, respectively, and, in the event such release is not given effect, to
subordinate fully all claims it may be deemed to have against the UTI Assets or
such Other SUBI Assets, as the case may be.

                                  ARTICLE THREE
                                  MISCELLANEOUS

      Section 3.01. Amendment. This Agreement may be amended from time to time
in a writing signed by the parties hereto.

      Section 3.02. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without regard
to any otherwise applicable principles of conflict of laws (other than Section
5-1401 of the New York General Obligations Law).

      Section 3.03. Severability. If one or more of the covenants, agreements,
or provisions of this Agreement shall be, for any reason whatever, held invalid
or unenforceable, such provisions shall be deemed severable from the remaining
covenants, agreements, and provisions of this Agreement, and such invalidity or
unenforceability shall in no way affect the validity or enforceability of such
remaining covenants, agreements, and provisions, or the rights of any parties
hereto. To the extent permitted by law, the parties hereto waive any provision
of law that renders any provision of this Agreement invalid or unenforceable in
any respect.

      Section 3.04. Binding Effect. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their permitted
successors and assigns.

      The Transferor acknowledges and agrees that (a) (i) the Transferee may,
pursuant to the Trust SUBI Certificate Transfer Agreement, transfer and assign
the 2004-A SUBI and the 2004-A SUBI Assets represented thereby and assign its
rights under this Agreement to Nissan Auto Lease Trust 2004-A and (ii) the
representation, warranties, and covenants contained in this Agreement and the
rights of the Transferee under this Agreement are intended to benefit Nissan
Auto Lease Trust 2004-A; and (b) (i) Nissan Auto Lease Trust 2004-A may,
pursuant to the Indenture, pledge and grant a security interest in the 2004-A
SUBI and the 2004-A SUBI Assets represented thereby and assign its rights under
this Agreement to the Indenture Trustee and (ii) the representation, warranties,
and covenants contained in this Agreement and the rights of the Transferee under
this Agreement are intended to benefit the Indenture Trustee (for the benefit of
the holders of the Notes). The Transferor hereby consents to all such transfers,
assigns, pledges and grants.

      Section 3.05. Headings. The Article and Section headings are for
convenience of reference only and shall not define or limit any of the terms or
provisions hereof.

                                             SUBI Certificate Transfer Agreement

                                       8

<PAGE>

      Section 3.06. Counterparts. This Agreement may be executed in any number
of counterparts, each of which so executed and delivered shall be deemed to be
an original, but all of which counterparts shall together constitute but one and
the same instrument.

      Section 3.07. Further Assurances. Each party hereto shall do such acts,
and execute and deliver to the other party such additional documents or
instruments as may be reasonably requested, in order to effect the purposes of
this Agreement and to better assure and confirm unto the requesting party its
rights, powers and remedies hereunder.

      Section 3.08. Third-Party Beneficiaries. This Agreement shall inure to the
benefit of and be binding upon the parties hereto and each Holder of the 2004-A
SUBI Certificate and each Registered Pledgee, who shall be considered
third-party beneficiaries hereof. Except as otherwise provided in this
Agreement, no other Person shall have any right or obligation hereunder.

      Section 3.09. No Petition. Each of the parties hereto covenants and agrees
that prior to the date that is one year and one day after the date upon which
all obligations under each Securitized Financing have been paid in full, it will
not institute against, or join any other Person in instituting against any other
party hereto, any Grantor, the Owner Trustee, the Trustee, any Special Purpose
Affiliate, any member of a Special Purpose Affiliate that is a limited liability
company, or the trustee of the Grantor, any bankruptcy, reorganization,
arrangement, insolvency, or liquidation proceeding or other proceedings under
any federal or state bankruptcy or similar law.

            This Section shall survive the complete or partial termination of
this Agreement, the resignation or removal or the Trustee and the complete or
partial resignation or removal of the Servicer.

      Section 3.10. No Recourse. It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by U.S. Bank,
not individually or personally, but solely as trustee of NILT Trust, in the
exercise of the powers and authority conferred and vested in it, (b) each of the
representations, undertakings, and agreements herein made on the part of the
Transferor, as it relates to NILT Trust, is made and intended not as personal
representations, undertakings, and agreements by U.S. Bank, but is made and
intended for the purpose of binding only NILT Trust, (c) nothing herein
contained shall be construed as creating any liability on U.S. Bank,
individually or personally, to perform any covenant, either expressed or
implied, contained herein, all such liability, if any, being expressly waived by
the parties hereto and by any Person claiming by, through or under the parties
hereto, and (d) under no circumstances shall U.S. Bank be personally liable for
the payment of any indebtedness or expenses of NILT Trust under this Agreement
or any other related documents.

                                             SUBI Certificate Transfer Agreement

                                       9

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their respective officers duly authorized as of the day and
year first above written.

                                    NILT TRUST, as Transferor

                                    By: U.S. BANK NATIONAL
                                        ASSOCIATION, as
                                        Managing Trustee

                                        By: ____________________________________
                                        Name:
                                        Title:

                                    NISSAN AUTO LEASING LLC II, as Transferee

                                    By: ________________________________________
                                        Name:  Joji Tagawa
                                        Title: Treasurer

                                             SUBI Certificate Transfer Agreement

                                      S-1

<PAGE>

<TABLE>
<S>                                                                                                                  <C>
ARTICLE ONE            DEFINITIONS...........................................................................        3

         Section 1.01.     Definitions.......................................................................        3

         Section 1.02.     Interpretive Provisions...........................................................        3

ARTICLE TWO            TRANSFER OF 2004-A SUBI CERTIFICATE...................................................        3

         Section 2.01.     Transfer of 2004-A SUBI Certificate...............................................        3

         Section 2.02.     True Sale.........................................................................        4

         Section 2.03.     Representations and Warranties of the Transferor and the Transferee...............        4

         Section 2.04.     Financing Statement and Books and Records.........................................        7

         Section 2.05.     Acceptance by the Transferee......................................................        7

         Section 2.06.     Release of Claims.................................................................        8

ARTICLE THREE          MISCELLANEOUS.........................................................................        8

         Section 3.01.     Amendment.........................................................................        8

         Section 3.02.     Governing Law.....................................................................        8

         Section 3.03.     Severability......................................................................        8

         Section 3.04.     Binding Effect....................................................................        8

         Section 3.05.     Headings..........................................................................        8

         Section 3.06.     Counterparts......................................................................        9

         Section 3.07.     Further Assurances................................................................        9

         Section 3.08.     Third-Party Beneficiaries.........................................................        9

         Section 3.09.     No Petition.......................................................................        9

         Section 3.10.     No Recourse.......................................................................        9
</TABLE>