Document:

exv10w2

EXHIBIT 10.2

 

NILT TRUST,

as Grantor and UTI Beneficiary,

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

NILT, INC.,

as Titling Trustee,

WILMINGTON TRUST COMPANY,

as Delaware Trustee,

and

U.S. BANK NATIONAL ASSOCIATION,

as Trust Agent

 

2011-A SUBI

SUPPLEMENT

Dated as of July 25, 2011

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE
ELEVEN DEFINITIONS
	 	 	2	 
	Section 11.01 Definitions
	 	 	2	 
	Section 11.02 Interpretive Provisions
	 	 	2	 
	Section 11.03 Rights in Respect of the 2011-A SUBI
	 	 	3	 
	ARTICLE
TWELVE CREATION OF THE 2011-A SUBI
	 	 	3	 
	Section 12.01 Creation of 2011-A SUBI Assets and the 2011-A SUBI
	 	 	3	 
	Section 12.02 Transfer of 2011-A SUBI Interests
	 	 	4	 
	Section 12.03 Issuance and Form of 2011-A SUBI Certificate
	 	 	5	 
	Section 12.04 Actions and Filings
	 	 	6	 
	Section 12.05 Termination of the 2011-A SUBI
	 	 	7	 
	Section 12.06 Representations and Warranties of Titling Trustee
	 	 	7	 
	Section 12.07 Transfer and Assignment of Certificates
	 	 	7	 
	ARTICLE
THIRTEEN 2011-A SUBI PLEDGE
	 	 	7	 
	Section 13.01 Registration of the 2011-A SUBI Pledge
	 	 	7	 
	ARTICLE
FOURTEEN 2011-A SUBI ACCOUNTS
	 	 	8	 
	Section 14.01 2011-A SUBI Collection Account
	 	 	8	 
	Section 14.02 2011-A Reserve Account
	 	 	8	 
	Section 14.03 Investment of Monies in 2011-A SUBI Accounts
	 	 	8	 
	Section 14.04 No Residual Value Surplus Account or Payahead Account
	 	 	9	 
	ARTICLE
FIFTEEN MISCELLANEOUS PROVISIONS
	 	 	9	 
	Section 15.01 Amendment
	 	 	9	 
	Section 15.02 Governing Law
	 	 	10	 
	Section 15.03 Notices
	 	 	10	 
	Section 15.04 Severability of Provisions
	 	 	11	 
	Section 15.05 Effect of Supplement on Titling Trust Agreement
	 	 	11	 
	Section 15.06 No Petition
	 	 	11	 
	Section 15.07 No Recourse
	 	 	12	 
	EXHIBIT 

Exhibit A — Form of 2011-A SUBI Certificate
	 	 	A-1	 

-i-

 

2011-A SUBI SUPPLEMENT

     This 2011-A SUBI Supplement, dated as of July 25, 2011 (as amended, supplemented or otherwise
modified from time to time, this “2011-A SUBI Supplement”), is among NILT Trust, a Delaware
statutory trust (“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”),
NILT, Inc., a Delaware corporation, as trustee (the “Titling Trustee”), Wilmington Trust
Company, a Delaware corporation with trust powers, as Delaware trustee (the “Delaware
Trustee”), and U.S. Bank National Association, a national banking association (“U.S.
Bank”), as trust agent (the “Trust Agent”).

RECITALS

     A. Pursuant to the Amended and Restated Trust and Servicing Agreement, dated as of August 26,
1998 (the “Titling Trust Agreement”), among the parties hereto, Nissan-Infiniti LT, a
Delaware statutory trust (the “Titling Trust”), was formed to take assignments and
conveyances of and hold in trust various assets (the “Trust Assets”);

     B. The UTI Beneficiary, the Servicer and the Titling Trust have entered into the SUBI
Servicing Agreement, dated as of March 1, 1999 as amended by the First Amendment to Servicing
Agreement, dated as of January 3, 2001 (the “Basic Servicing Agreement”), which provides
for, among other things, the servicing of the Trust Assets by the Servicer;

     C. Pursuant to the Titling Trust Agreement, from time to time the Titling Trustee, on behalf
of the Titling Trust and at the direction of the UTI Beneficiary, will identify and allocate on the
books and records of the Titling Trust certain Trust Assets and create and issue one or more
special units of beneficial interest (each, a “SUBI”), the beneficiaries of which generally
will be entitled to the net cash flows arising from the corresponding Trust Assets;

     D. The parties hereto desire to supplement the Titling Trust Agreement (as so supplemented by
this 2011-A SUBI Supplement, the “SUBI Trust Agreement”) to create a SUBI (the “2011-A
SUBI”);

     E. The parties hereto desire to identify and allocate to the 2011-A SUBI a separate portfolio
of Trust Assets consisting of leases (the “2011-A Leases”), the vehicles that are leased
under the 2011-A Leases (the “2011-A Vehicles”), and certain other related assets;

     F. The parties hereto also desire to issue to NILT Trust a certificate evidencing a 100%
beneficial interest in the 2011-A SUBI (the “2011-A SUBI Certificate”).

     G. NILT Trust will transfer the 2011-A SUBI Certificate to Nissan Auto Leasing LLC II
(“NALL II”) pursuant to the SUBI Certificate Transfer Agreement, dated as of July 25, 2011
(the “SUBI Certificate Transfer Agreement”), between NILT Trust and NALL II. NALL II will
further transfer the 2011-A SUBI Certificate to Nissan Auto Lease Trust 2011-A (the “Issuing
Entity”) pursuant to the Trust SUBI Certificate Transfer Agreement, dated as of July 25,

(NALT 2011-A SUBI Supplement)

1

 

2011 (the “Trust SUBI Certificate Transfer Agreement”), between NALL II, as depositor
(the “Depositor”) and the Issuing Entity, as transferee.

     H. Pursuant to the Indenture, dated as of July 25, 2011 (the “Indenture”), between the
Issuing Entity, as issuer, and Citibank, N.A., as indenture trustee (the “Indenture
Trustee”), the Issuing Entity will (i) issue $128,000,000 aggregate principal amount of
0.22795% Asset Backed Notes, Class A-1 (the “Class A-1 Notes”), $100,000,000 aggregate
principal amount of 0.70% Asset Backed Notes, Class A-2a (the “Class A-2a Notes”),
$250,000,000 aggregate principal amount of LIBOR + 0.18% Asset Backed Notes, Class A-2b (the
“Class A-2b Notes” and, together with the Class A-2a Notes, the “Class A-2 Notes”),
$339,000,000 aggregate principal amount of 1.04% Asset Backed Notes, Class A-3 (the “Class A-3
Notes”), and $58,000,000 aggregate principal amount of 1.24% Asset Backed Notes, Class A-4 (the
“Class A-4 Notes”) (collectively, the Class A-1 Notes, the Class A-2 Notes, the Class A-3
Notes and the Class A-4 Notes are referred to herein as the “Notes”); and (ii) pledge the
2011-A SUBI Certificate to the Indenture Trustee for the benefit of the holders of the Notes.

     I. The parties hereto also desire to register a pledge of the 2011-A SUBI Certificate to the
Indenture Trustee for the benefit of the holders of the Notes.

     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:

ARTICLE ELEVEN

DEFINITIONS

     Section 11.01 Definitions. Capitalized terms used herein that are not otherwise
defined shall have the respective meanings ascribed thereto in the Agreement of Definitions, dated
as of July 25, 2011, by and among the Issuing Entity , NILT Trust, as the Grantor and the UTI
Beneficiary, the Titling Trust, NMAC, in its individual capacity, as Servicer and as administrative
agent (in such capacity, the “Administrative Agent”), NALL II, the Titling Trustee,
Wilmington Trust Company, as Delaware Trustee and owner trustee (in such capacity, the “Owner
Trustee”), the Trust Agent and the Indenture Trustee.

     Section 11.02 Interpretive Provisions. For all purposes of this 2011-A SUBI
Supplement, except as otherwise expressly provided or unless the context otherwise requires, (i)
terms used herein 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 2011-A SUBI
Supplement as a whole and not to any particular part, Article or Section within this 2011-A SUBI
Supplement, (iii) references to an Article or Section such as “Article Twelve” or “Section
12.01” shall refer to the applicable Article or Section of this 2011-A SUBI Supplement, (iv)
the term “include” and all variations thereof shall mean “include without limitation,” (v) the term
“or” shall include “and/or,” (vi) the term “proceeds” shall have the meaning ascribed to such term
in the UCC, (vii) references to Persons include their permitted successors and assigns, (viii)
references to agreements and other contractual instruments include all subsequent amendments,
amendments and restatements and supplements thereto or changes therein entered into in accordance
with their respective terms and not prohibited by this 2011-A SUBI Supplement,

(NALT 2011-A SUBI Supplement)

2

 

except that references to the SUBI Trust Agreement include only such items as related to the
2011-A SUBI and the Titling Trust, (ix) references to laws include their amendments and
supplements, the rules and regulations thereunder and any successors thereto, (x) references to
this 2011-A SUBI Supplement include all Exhibits hereto, (xi) the phrase “Titling Trustee on behalf
of the Trust,” or words of similar import, shall, to the extent required to effectuate the
appointment of any Co-Trustee pursuant to the Titling Trust Agreement, be deemed to refer to the
Trustee (or such Co-Trustee) on behalf of the Titling Trust, and (xii) in the computation of a
period of time from a specified date to a later specified date, the word “from” shall mean “from
and including” and the words “to” and “until” shall mean “to but excluding.”

     Section 11.03 Rights in Respect of the 2011-A SUBI. Each Holder and Registered
Pledgee of the 2011-A SUBI Certificate (including the Issuing Entity) is a third-party beneficiary
of the SUBI Trust Agreement insofar as the Titling Trust Agreement and this 2011-A SUBI Supplement
apply to the 2011-A SUBI, the Holders of the 2011-A SUBI Certificate, and the Registered Pledgees
of the 2011-A SUBI Certificate. Therefore, to that extent, references in the SUBI Trust Agreement
to the ability of a “Holder,” “Related Beneficiary,” or a “Registered Pledgee” of a SUBI
Certificate to take any action shall be deemed to refer to the Issuing Entity acting at its own
instigation or upon the instruction of the requisite voting percentage of holders of Securities or
Rated Securities, as specified in the Indenture or the Trust Agreement, as applicable.

ARTICLE TWELVE

CREATION OF THE 2011-A SUBI

     Section 12.01 Creation of 2011-A SUBI Assets and the 2011-A SUBI.

     (a) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
directs the Titling Trustee to create, and the Titling Trustee hereby creates, one Sub-Trust which
shall be known as the “2011-A SUBI”. The 2011-A SUBI shall represent a special unit of
beneficial interest solely in the 2011-A SUBI Assets.

     (b) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
hereby directs the Titling Trustee to identify and allocate or to cause to be identified and
allocated to the 2011-A SUBI on the books and records of the Titling Trust a separate Sub-Trust of
Trust Assets consisting of 2011-A Eligible Leases and the related Leased Vehicles and other
associated Trust Assets owned by the Titling Trust and not allocated to any Other SUBI or reserved
for allocation to any Other SUBI (or owned or acquired by the Titling Trustee on behalf of the
Titling Trust but not yet allocated to, or reserved for allocation to, any specific Sub-Trust).
Such Trust Assets (the “2011-A SUBI Assets”) shall be accounted for and held in trust
independently from all other Trust Assets within the Titling Trust. Based upon their identification
and allocation by the Servicer pursuant to the 2011-A Servicing Supplement, the Titling Trustee
hereby identifies and allocates as 2011-A SUBI Assets the 2011-A Leases and 2011-A Vehicles more
particularly described on the Schedule of 2011-A Leases and 2011-A Vehicles and the related Trust
Assets described above, each such 2011-A SUBI Asset to be identified on the books and accounts of
the Titling Trust as being allocated to the 2011-A SUBI.

(NALT 2011-A SUBI Supplement)

3

 

     (c) The Titling Trust is hereby granted the power and authority and is authorized, and the
Titling Trustee is authorized on behalf of the Titling Trust, to execute, deliver and perform its
obligations under the Basic Documents.

     Section 12.02 Transfer of 2011-A SUBI Interests.

     (a) Interests in the 2011-A SUBI may not be transferred or assigned by the UTI Beneficiary,
and any such purported transfer or assignment shall be deemed null, void, and of no effect
herewith; provided, however, that the 2011-A SUBI Certificate and the interests in
the 2011-A SUBI represented thereby may be (i) sold to the Depositor pursuant to the SUBI
Certificate Transfer Agreement, (ii) sold, transferred and assigned by the Depositor absolutely, or
transferred and assigned or a security interest therein granted, in connection with a Securitized
Financing, (iii) transferred to the Indenture Trustee or any subsequent Registered Pledgee to
itself or any other Person following the occurrence of an Event of Default (which has not been
rescinded) or any similar term in any subsequent Securitized Financing secured by the 2011-A SUBI
Certificate or any interest therein and (iv) transferred to each direct or indirect permitted
transferee of the Indenture Trustee or such subsequent Registered Pledgee, in each case in the
circumstances contemplated in, and subject to the conditions set forth in, Section 3.04(b)
of the Titling Trust Agreement. Each such transfer shall be registrable upon surrender of the
2011-A SUBI Certificate to be transferred for registration of the transfer at the corporate trust
office of the Titling Trustee (or the Trust Agent, if applicable), accompanied by a written
instrument of transfer in form satisfactory to the Titling Trustee duly executed by the Holder
thereof or such Holder’s attorney duly authorized in writing, and thereupon a new 2011-A SUBI
Certificate of a like aggregate fractional undivided interest will be issued to the designated
permitted transferee.

     (b) For any transfer of the 2011-A SUBI Certificate or an interest therein to be effective, on
or prior to the date of any absolute sale, transfer, or assignment, the related transferee must
execute and deliver to the Trustee the non-petition covenant and the agreement required pursuant to
Section 3.04(b) of the Titling Trust Agreement.

     (c) The 2011-A SUBI Certificate (or any interest therein) may not be acquired by or on behalf
of any Benefit Plan Investor. The 2011-A SUBI Certificate (or any interest therein) may not be
acquired by or on behalf of a “governmental plan” (as defined in Section 3(32) of ERISA) or any
other employee benefit plan that is subject to Similar Law if the acquisition, holding and
disposition of the 2011-A SUBI Certificate (or any interest therein) would result in a violation of
Similar Law.

     (d) Notwithstanding any other provision herein, no transfer or assignment of an interest in
the 2011-A SUBI (other than transfer or assignments to the NILT Trust, the Depositor, or the
Issuing Entity) will be valid, and any such purported transfer or assignment shall be deemed null,
void, and of no effect herewith, unless the purported transferee first shall have certified in
writing to the Titling Trustee that, for U.S. federal income tax purposes, the transferee is not a
partnership, S Corporation, or grantor trust having more than one beneficial owner or having a
single beneficial owner that is a partnership or S Corporation.

(NALT 2011-A SUBI Supplement)

4

 

     Section 12.03 Issuance and Form of 2011-A SUBI Certificate.

     (a) The 2011-A SUBI shall be represented by a 2011-A SUBI Certificate that shall represent a
100% beneficial interest in the 2011-A SUBI and the 2011-A SUBI Assets, as further set forth
herein. The 2011-A SUBI Certificate shall, upon transfer to the Issuing Entity, be registered in
the name of the Issuing Entity, representing the beneficial interest in the 2011-A SUBI Assets
allocated from the UTI. The Titling Trustee shall register a pledge of the 2011-A SUBI Certificate
in favor of the Indenture Trustee (for the benefit of the holders of the Notes), as provided in
Article Thirteen, and shall deliver the 2011-A SUBI Certificate to the Indenture Trustee. The
2011-A SUBI Certificate shall be substantially in the form of Exhibit A attached hereto,
with such appropriate insertions, omissions, substitutions and other variations as are required by
this 2011-A SUBI Supplement and may have such letters, numbers or other marks of identification and
such legends and endorsements placed thereon as may, consistently herewith and with the Titling
Trust Agreement, be directed by the UTI Beneficiary. Any portion of any 2011-A SUBI Certificate may
be set forth on the reverse thereof, in which case the following reference to the portion of the
text on the reverse shall be inserted on the face thereof, in relative proximity to and prior to
the signature of the Titling Trustee executing such 2011-A SUBI Certificate:

     Reference is hereby made to the further provisions of this certificate set forth on the
reverse hereof, which provisions shall for all purposes have the same effect as if set forth at
this place.

     In addition, the 2011-A SUBI Certificate will bear a legend to the following effect:

     THIS 2011-A SUBI CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (“THE SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAW. THE
HOLDER HEREOF, BY PURCHASING THIS 2011-A SUBI CERTIFICATE, AGREES THAT THIS 2011-A SUBI CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE LAWS, INCLUDING PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A
QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE
REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A AND IN ACCORDANCE
WITH ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTIONS.

     THIS 2011-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) MAY NOT BE ACQUIRED BY OR ON BEHALF OF
(I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO TITLE I OF ERISA, (II) A “PLAN” AS
DEFINED IN SECTION 4975(e)(1) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THAT IS
SUBJECT TO SECTION 4975 OF THE CODE OR

(NALT 2011-A SUBI Supplement)

5

 

(III) ANY ENTITY DEEMED TO HOLD THE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION
2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OF ANY OF THE FOREGOING. IF THIS 2011-A SUBI
CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY A “GOVERNMENTAL PLAN” WITHIN THE
MEANING OF SECTION 3(32) OF ERISA OR ANY OTHER EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO ANY STATE,
LOCAL OR OTHER LAW THAT IS SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR
LAW”), IT SHALL BE DEEMED TO REPRESENT AND WARRANT THAT ITS ACQUISITION, HOLDING AND DISPOSITION OF
THIS 2011-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) WILL NOT RESULT IN A VIOLATION OF SIMILAR
LAW.

     The 2011-A SUBI Certificate shall be printed, lithographed, typewritten, mimeographed,
photocopied, or otherwise produced or may be produced in any other manner as may, consistently
herewith and with the Titling Trust Agreement, be determined by the UTI Beneficiary. The 2011-A
SUBI Certificate and the interest in the 2011-A SUBI evidenced thereby shall constitute a
“security” within the meaning of Section 8-102(a)(15) of the UCC and a “certificated security”
within the meaning of Section 8-102(a)(4) of the UCC.

     (b) If (i) the 2011-A SUBI Certificate is mutilated and surrendered to the Titling Trustee, or
the Titling Trustee receives evidence to its satisfaction of the destruction, loss, or theft of the
2011-A SUBI Certificate and (ii) there is delivered to the Titling Trustee such security or
indemnity as may reasonably be required by it to hold the Issuing Entity and the Titling Trustee,
as applicable, harmless, then the Titling Trustee shall execute and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen 2011-A SUBI Certificate, a replacement 2011-A
SUBI Certificate. Every 2011-A SUBI Certificate issued pursuant to this Section 12.03(b) in
replacement of any mutilated, destroyed, lost, or stolen 2011-A SUBI Certificate shall constitute
an original additional contractual obligation of the Issuing Entity, whether or not the mutilated,
destroyed, lost, or stolen 2011-A SUBI Certificate shall be at any time enforceable by anyone and
shall be entitled to all of the benefits of the SUBI Trust Agreement equally and proportionately
with any and all other 2011-A SUBI Certificates duly issued hereunder. The provisions of this
Section 12.03(b) are exclusive and preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen 2011-A
SUBI Certificates.

     Section 12.04 Actions and Filings. Each of the UTI Beneficiary and the Titling
Trustee shall undertake all other and future actions and activities as may be deemed reasonably
necessary by the Servicer pursuant to the Servicing Agreement to perfect (or evidence) and confirm
the foregoing allocations of Trust Assets to the 2011-A SUBI, including filing or causing to be
filed UCC financing statements and executing and delivering all related filings, documents or
writings as may be deemed reasonably necessary by the Servicer or the Registered Pledgee hereunder
or under any other Basic Document. The UTI Beneficiary hereby irrevocably makes and appoints each
of the Titling Trustee and the Servicer, and any of their respective officers, employees or agents,
as the true and lawful attorney-in-fact of the UTI Beneficiary (which appointment is coupled with
an interest and is irrevocable) with power to sign on behalf of the UTI Beneficiary any financing
statements, continuation statements, security agreements, mortgages, assignments, affidavits,
letters of authority, notices or similar documents necessary or appropriate to be executed or filed
pursuant to this Section.

(NALT 2011-A SUBI Supplement)

6

 

     Section 12.05 Termination of the 2011-A SUBI.

     (a) If all of the 2011-A Leases and 2011-A Vehicles have been liquidated into cash and all of
such cash shall have been distributed in accordance with the Basic Documents, then, at the
direction of the Holder of the 2011-A SUBI Certificate, the 2011-A SUBI shall be terminated and the
2011-A SUBI Certificate shall be returned to the Titling Trustee and canceled thereby.

     (b) Upon a written direction to the Titling Trustee to revoke and terminate the 2011-A SUBI
by the Holder of the 2011-A SUBI Certificate, the Titling Trustee shall (i) revoke the 2011-A SUBI
and (ii) promptly, at the expense of the Holder of the 2011-A SUBI Certificate, either (A)
distribute the 2011-A SUBI Assets to the Holder of the 2011-A SUBI Certificate or (B) allocate the
2011-A SUBI Assets to the UTI or to an Other SUBI, as directed by such Holder; provided, however,
that the 2011-A SUBI shall not be subject to such revocation prior to the earlier of (A) the
acceleration of the Notes under Section 5.2 of the Indenture following an Indenture Default
or (B) payment in full of principal and accrued interest on the Notes.

     Section 12.06 Representations and Warranties of Titling Trustee. The Titling Trustee
hereby reaffirms, as of the Cutoff Date, the representations, warranties and covenants set forth in
Section 5.12 of the Titling Trust Agreement, on which the Grantor and UTI Beneficiary, each
of its permitted assignees, and each Holder or Related Beneficiary of a 2011-A SUBI Certificate
(and beneficial owner of any portion thereof, including the Issuing Entity and the Trust
Certificateholders) may rely. For purposes of this Section, any reference in Section 5.12
of the Titling Trust Agreement to the Titling Trust Agreement shall be deemed to constitute
references to the SUBI Trust Agreement.

     Section 12.07 Transfer and Assignment of Certificates. For purposes of the SUBI Trust
Agreement, the third sentence of Section 3.04(b) of the Titling Trust Agreement is hereby
amended to read as follows:

     “Notwithstanding the foregoing, prior to becoming the Registered Pledgee or Holder of a SUBI
Certificate or otherwise becoming entitled to distributions or any other rights hereunder, the
related transferee, assignee, or pledgee in each case must (i) give a non-petition covenant
substantially similar to that set forth in Section 8.08 of the Titling Trust Agreement, and
(ii) execute an agreement in favor of each Holder from time to time of a UTI Certificate and any
certificate evidencing an Other SUBI to release all Claims to the UTI Assets and the related Other
SUBI Assets, respectively, and, if such release is not given effect, to subordinate fully all
Claims it may be deemed to have against the UTI Assets as defined in the Titling Trust Agreement or
such Other SUBI Assets, as the case may be.”

     For so long as the 2011-A SUBI Certificate remains outstanding, each Supplement shall contain
a similar amendment with respect to such Section.

ARTICLE THIRTEEN

2011-A SUBI PLEDGE

     Section 13.01 Registration of the 2011-A SUBI Pledge. The parties hereto hereby
acknowledge the Issuing Entity’s pledge, assignment, and grant to the Indenture Trustee, for the
benefit of the holders of the Notes, under the Indenture of a security interest in the 2011-A SUBI

(NALT 2011-A SUBI Supplement)

7

 

Certificate together with all rights appurtenant thereto and proceeds thereof, to secure the
Notes. The Titling Trustee hereby acknowledges such pledge, assignment, and grant of security
interest, and the Titling Trustee agrees to cause the Indenture Trustee to be listed in the
Certificate Register as the Registered Pledgee of the 2011-A SUBI Certificate. The Issuing Entity
has caused the Titling Trustee to deliver the 2011-A SUBI Certificate to the Indenture Trustee, as
Registered Pledgee, who shall have the rights with respect thereto described herein and in the
Indenture.

ARTICLE FOURTEEN

2011-A SUBI ACCOUNTS

     Section 14.01 2011-A SUBI Collection Account.

     (a) With respect to the 2011-A SUBI, the Servicer, shall on or prior to the Closing Date
establish, in the name of the Indenture Trustee until the Outstanding Amount of the Notes is zero,
and thereafter; in the name of the Issuing Entity, the 2011-A SUBI Collection Account, which
account shall constitute a SUBI Collection Account. The 2011-A SUBI Collection Account initially
shall be established with the Indenture Trustee. If the 2011-A SUBI Collection Account shall cease
to be an Eligible Account or if the Servicer, in its sole discretion, notifies the Indenture
Trustee in writing that the 2011-A SUBI Collection Account should be moved, then the Servicer
shall, with the assistance of the Indenture Trustee, as necessary, cause such 2011-A SUBI
Collection Account to be moved to the institution selected by the Servicer as described in
Section 4.02(a) of the Titling Trust Agreement. The 2011-A SUBI Collection Account shall
relate solely to the 2011-A SUBI and the 2011-A SUBI Assets, and funds therein shall not be
commingled with any other monies, except as otherwise provided for in, or contemplated by, the SUBI
Trust Agreement or in the Servicing Agreement. All deposits into the 2011-A SUBI Collection Account
shall be made as described in the Servicing Agreement.

     (b) On each Deposit Date and Payment Date, pursuant to the instructions from the Servicer, the
Indenture Trustee shall make deposits and withdrawals from the 2011-A SUBI Collection Account as
set forth in the 2011-A Servicing Supplement.

     (c) Any transfer of funds to a Holder of a 2011-A SUBI Certificate shall be made as directed
pursuant to the Basic Documents.

     Section 14.02 2011-A Reserve Account.

     (a) Pursuant to Section 5.01(b) of the Trust Agreement, the Servicer, on behalf of the
Issuing Entity, shall on or prior to the Closing Date establish and maintain the Reserve Account
(i) with the Indenture Trustee, until the Outstanding Amount is reduced to zero, and (ii)
thereafter with the Owner Trustee. Deposits to and withdrawals from the Reserve Account shall be
made as directed pursuant to the Basic Documents, including Section 8.04(c) of the
Indenture, Section 8.03 of the 2011-A Servicing Supplement and Section 14.03 of
this 2011-A SUBI Supplement.

     Section 14.03 Investment of Monies in 2011-A SUBI Accounts. All amounts held in the
2011-A SUBI Collection Account and the Reserve Account shall be invested in Permitted Investments
in accordance with Section 4.02(a) of the Titling Trust Agreement. Any investment

(NALT 2011-A SUBI Supplement)

8

 

earnings on the 2011-A SUBI Collection Account and the Reserve Account will be taxable to the
Depositor.

     Section 14.04 No Residual Value Surplus Account or Payahead Account. The parties
hereby acknowledge that there shall be no Residual Value Surplus Account or Payahead Account (as
defined in the Titling Trust Agreement).

ARTICLE FIFTEEN

MISCELLANEOUS PROVISIONS

     Section 15.01 Amendment.

     (a) Notwithstanding any provision of the Titling Trust Agreement, the Titling Trust Agreement,
as supplemented by this 2011-A SUBI Supplement, to the extent that it relates solely to the 2011-A
SUBI, may be amended in accordance with this Section 15.01.

     (b) Any term or provision of this 2011-A SUBI Supplement may be amended by the parties hereto,
without the consent of any other Person; provided that (i) either (A) any amendment that materially
and adversely affects the interests of the Noteholders shall require the consent of Noteholders
evidencing not less than a Majority Interest of the Notes voting together as a single class, or (B)
such amendment shall not, as evidenced by an Officer’s Certificate of the Servicer delivered to the
Indenture Trustee, materially and adversely affect the interests of the Noteholders, and (ii) any
amendment adversely affects the interests of the Trust Certificateholder, the Indenture Trustee or
the Owner Trustee shall require the prior written consent of each Persons whose interests are
adversely affected. An amendment shall be deemed not to materially and adversely affect the
interests of the Noteholders if the Rating Agency Condition is satisfied with respect to such
amendment and the Officer’s Certificate described in the preceding sentence is provided to the
Indenture Trustee. The consent of the Trust Certificateholder or the Owner Trustee shall be deemed
to have been given if the Servicer does not receive a written objection from such Person within 10
Business Days after a written request for such consent shall have been given. The Indenture
Trustee may, but shall not be obliged to, enter into or consent to any such amendment that affects
the Indenture Trustee’s own rights, duties, liabilities or immunities under this Agreement or
otherwise.

     (c) Notwithstanding the foregoing, no amendment shall (i) reduce the interest rate or
principal amount of any Note, or change the due date of any installment of principal of or interest
in any Note, or the Redemption Price with respect thereto, without the consent of the Holder of
such Note, or (ii) reduce the Outstanding Amount, the Holders of which are required to consent to
any matter without the consent of the Holders of at least a Majority Interest of the Notes which
were required to consent to such matter before giving effect to such amendment.

     (d) Notwithstanding anything herein to the contrary, any term or provision of this 2011-A SUBI
Supplement may be amended by the parties hereto without the consent of any of the Noteholders or
any other Person to add, modify or eliminate any provisions as may be necessary or advisable in
order to comply with or obtain more favorable treatment under or with respect to any law or
regulation or any accounting rule or principle (whether now or in the future in effect); it being a
condition to any such amendment that the Rating Agency Condition shall

(NALT 2011-A SUBI Supplement)

9

 

have been satisfied and the Officer’s Certificate described in Section 15.01(b)(i)(B)
is delivered to the Indenture Trustee.

     (e) It shall not be necessary for the consent of any Person pursuant to this Section for such
Person to approve the particular form of any proposed amendment, but it shall be sufficient if such
Person consents to the substance thereof.

     (f) Prior to the execution of any amendment to this 2011-A SUBI Supplement, the Servicer shall
provide each Rating Agency, the Trust Certificateholder, the Depositor, the Owner Trustee and the
Indenture Trustee with written notice of the substance of such amendment. No later than 10
Business Days after the execution of any amendment to this 2011-A SUBI Supplement, the Servicer
shall furnish a copy of such amendment to each Rating Agency, the Issuing Entity, the Trust
Certificateholder, the Indenture Trustee and the Owner Trustee.

     (g) Prior to the execution of any amendment to this 2011-A SUBI Supplement, the Servicer shall
provide an Opinion of Counsel to the Titling Trustee to the effect that after such amendment, for
federal income tax purposes, the Titling Trust will not be treated as an association (or a publicly
traded partnership) taxable as a corporation and the Notes will properly be characterized as
indebtedness that is secured by the assets of the Issuing Entity.

     (h) None of U.S. Bank, as trustee of NILT Trust and as Trust Agent, NILT, Inc., nor the
Indenture Trustee shall be under any obligation to ascertain whether a Rating Agency Condition has
been satisfied with respect to any amendment. When the Rating Agency Condition is satisfied with
respect to such amendment, the Servicer shall deliver to a Responsible Officer of U.S. Bank, as
trustee of NILT Trust and as Trust Agent, and the Indenture Trustee an Officer’s Certificate to
that effect, and U.S. Bank, as trustee of NILT Trust and as Trust Agent, and the Indenture Trustee
may conclusively rely upon the Officer’s Certificate from the Servicer that a Rating Agency
Condition has been satisfied with respect to such amendment.

     Section 15.02 Governing Law. This 2011-A SUBI Supplement shall be created under and
governed by and construed under the internal laws of the State of Delaware, without reference to
its conflicts of law provisions, and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.

     Section 15.03 Notices. The notice provisions of Section 8.03 of the Titling
Trust Agreement shall apply equally to this 2011-A SUBI Supplement. A copy of each notice or other
writing required to be delivered to the Titling Trustee pursuant to the SUBI Trust Agreement also
shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been
duly given or made when delivered by hand or, in the case of mail, email (if an email address is
provided) or facsimile notice, when actually received by the intended recipient, addressed to the
party to be notified, and sent to (i) the Owner Trustee at Wilmington Trust Company, Rodney Square
North, 1100 North Market Street, Wilmington, Delaware 19890 (telecopier no. (302) 651-8882),
Attention: Corporate Trust Administration; (ii) the Servicer at One Nissan Way, Franklin, Tennessee
37067 (telecopier no. (615) 725-8530) (email: mike.robinson@nissan-usa.com and
matt.zimmerman@nissan-usa.com), Attention: Treasurer; (iii) the Trust Agent at 209 South LaSalle
Street, Suite 300, Chicago, Illinois 60604, Attention: NILT, Inc. (telecopier no. (312) 325-8905)
(email: patricia.child@usbank.com); or (iv) at such

(NALT 2011-A SUBI Supplement)

10

 

other address as shall be designated by any of the foregoing in written notice to the other
parties hereto; provided, however, any demand, notice or communication hereunder to
any Rating Agency shall be deemed to be delivered if a copy of such demand, notice or communication
has been posted on any web site maintained by NMAC pursuant to a commitment to any Rating Agency
relating to the Notes in accordance with 17 C.F.R. 240 17g-5(a)(3).

     Section 15.04 Severability of Provisions. If any one or more of the covenants,
agreements, provisions, or terms of this 2011-A SUBI Supplement (including any amendment hereto)
shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions, or
terms shall be deemed severable from the remaining covenants, agreements, provisions, or terms of
this 2011-A SUBI Supplement, as the same may be amended, and shall in no way affect the validity or
enforceability of the other provisions of the SUBI Trust Agreement or of the 2011-A SUBI
Certificate or the rights of the Registered Pledgees thereof. To the extent permitted by applicable
law, the parties hereto waive any provision of law that renders any covenant, agreement, provision,
or term of this 2011-A SUBI Supplement invalid or unenforceable in any respect.

     Section 15.05 Effect of Supplement on Titling Trust Agreement.

     (a) Except as otherwise specifically provided herein or unless the context otherwise requires,
(i) the parties hereto shall continue to be bound by all provisions of the Titling Trust Agreement,
(ii) all references in the Titling Trust Agreement to the Titling Trust Agreement shall be to the
SUBI Trust Agreement and (iii) the provisions set forth herein shall operate either as additions to
or modifications of the existing obligations of the parties under the Titling Trust Agreement, as
the context may require. In the event of any conflict between this 2011-A SUBI Supplement and the
Titling Trust Agreement in respect of the 2011-A SUBI, the provisions of this 2011-A SUBI
Supplement shall prevail with respect to the 2011-A SUBI only.

     (b) For purposes of determining the obligations of the parties hereto under this 2011-A SUBI
Supplement with respect to the 2011-A SUBI, except as otherwise indicated by the context, general
references in the Titling Trust Agreement to (i) a SUBI Account shall be deemed to refer more
specifically to a 2011-A SUBI Account, (ii) a SUBI shall be deemed to refer more specifically to
the 2011-A SUBI, (iii) a SUBI Collection Account shall be deemed to refer more specifically to the
2011-A SUBI Collection Account, (iv) a SUBI Asset shall be deemed to refer more specifically to a
2011-A SUBI Asset, (v) a SUBI Supplement shall be deemed to refer more specifically to this 2011-A
SUBI Supplement, and (vi) a Servicing Supplement shall be deemed to refer more specifically to the
2011-A Servicing Supplement.

     Section 15.06 No Petition. Each of the parties hereto and each Holder of a 2011-A
SUBI Certificate, and each Registered Pledgee, by acceptance of a 2011-A SUBI Certificate,
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 the Grantor, the Depositor, the Titling
Trustee, the Titling Trust, the Issuing Entity , any Special Purpose Affiliate or any Beneficiary,
any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other
Proceeding under any federal or state bankruptcy or similar law. This Section shall survive the
complete or partial termination of this 2011-A SUBI Supplement, the resignation or removal of

(NALT 2011-A SUBI Supplement)

11

 

the Titling Trustee under the SUBI Trust Agreement and the complete or partial resignation or
removal of the Servicer under the SUBI Trust Agreement or the Servicing Agreement.

     Section 15.07 No Recourse. It is expressly understood and agreed by the parties
hereto that with respect to U.S. Bank’s role as trustee of NILT Trust only, and not with respect to
its role as Trust Agent (i) 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, (ii) each of the representations, undertakings, and agreements herein
made on the part of 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,
(iii) 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 (iv) 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.

[Signature Pages to Follow]

(NALT 2011-A SUBI Supplement)

12

 

     IN WITNESS WHEREOF, the Grantor and UTI Beneficiary, the Servicer, the Titling Trustee, the
Delaware Trustee and, solely for the limited purposes set forth in Sections 14.01,
14.02, 14.03 and 14.04, the Trust Agent, have caused this 2011-A SUBI
Supplement to be duly executed by their respective officers as of the day and year first above
written.

	 	 	 	 	 
	 	NILT TRUST,

as Grantor and UTI Beneficiary

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

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NILT, INC.,

as Titling Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY,

as Delaware Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

(NALT 2011-A SUBI Supplement)

S-1

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trust Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

(NALT 2011-A SUBI Supplement)

S-2

 

	 	 	 	 	 

     Receipt of this original counterpart of this 2011-A SUBI Supplement is hereby acknowledged on
this _____ day of July, 2011.

	 	 	 	 	 
	 	CITIBANK, N.A.,

as Indenture Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

(NALT 2011-A SUBI Supplement)

S-3

 

EXHIBIT A

FORM OF 2011-A SUBI CERTIFICATE

     THIS 2011-A SUBI CERTIFICATE MAY NOT BE TRANSFERRED OR ASSIGNED
EXCEPT UPON THE TERMS AND SUBJECT TO THE CONDITIONS SPECIFIED HEREIN

NISSAN — INFINITI LT

          2011-A SPECIAL UNIT OF BENEFICIAL INTEREST CERTIFICATE

evidencing a fractional undivided interest in the 2011-A SUBI Assets of
Nissan-Infiniti LT, a statutory trust organized pursuant to the Delaware Statutory
Trust Act (the “Titling Trust”).

(This Certificate does not represent any interest in the UTI Assets or any Other
SUBI Assets of the Issuing Entity or an obligation, of, or interest in, NILT Trust,
Nissan Motor Acceptance Corporation, NILT, Inc. or any of their respective
Affiliates.)

THIS 2011-A SUBI CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY
LAW. THE HOLDER HEREOF, BY PURCHASING THIS 2011-A SUBI CERTIFICATE, AGREES THAT THIS 2011-A
SUBI CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, INCLUDING PURSUANT TO RULE
144A UNDER THE SECURITIES ACT (“RULE 144A”) TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A
“QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS
BEING MADE IN RELIANCE ON RULE 144A AND IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTIONS.

     THIS 2011-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) MAY NOT BE ACQUIRED BY OR ON BEHALF OF
(I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO TITLE I OF ERISA, (II) A “PLAN” AS
DEFINED IN SECTION 4975(e)(1) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THAT IS
SUBJECT TO SECTION 4975 OF THE CODE OR (III) ANY ENTITY DEEMED TO HOLD THE “PLAN ASSETS” (WITHIN
THE MEANING OF 29 C.F.R. SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OF ANY OF THE
FOREGOING. IF THIS 2011-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY A
“GOVERNMENTAL PLAN” (WITHIN THE

(NALT 2011-A SUBI Supplement)

A-1

 

MEANING OF SECTION 3(32) OF ERISA) OR ANY OTHER EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO
ANY STATE, LOCAL OR OTHER LAW THAT IS SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE
(“SIMILAR LAW”), IT SHALL BE DEEMED TO REPRESENT AND WARRANT THAT ITS ACQUISITION, HOLDING AND
DISPOSITION OF THIS 2011-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) WILL NOT RESULT IN A VIOLATION
OF SIMILAR LAW.

No. R-___

evidencing a 100% interest in all 2011-A SUBI Assets (as defined below).

     This 2011-A Special Unit of Beneficial Interest Certificate does not represent an interest in
or obligation of Nissan Motor Acceptance Corporation, NILT, Inc. or any of their respective
affiliates.

     THIS CERTIFIES THAT ________________ is the registered owner of a nonassessable, fully-paid,
100% beneficial interest in the 2011-A SUBI Assets owned by the Titling Trust.

     The Titling Trust was created pursuant to the Amended and Restated Trust and Servicing
Agreement, dated as of August 26, 1998 as amended, supplemented or otherwise modified from time to
time, (the “Titling Trust Agreement”), among NILT Trust, a Delaware statutory trust, as
grantor and initial beneficiary (in such capacities, the “Grantor” and the “UTI
Beneficiary,” respectively), NILT, Inc., a Delaware corporation, as trustee (the “Titling
Trustee”), Nissan Motor Acceptance Corporation, a California corporation, as servicer (the
“Servicer”), Wilmington Trust Company, a Delaware corporation with trust powers, as
Delaware trustee (the “Delaware Trustee”), and U.S. Bank National Association, a national
banking association, as trust agent (the “Trust Agent”).

     This certificate is a duly authorized 2011-A SUBI Certificate, and is issued under and is
subject to the terms, provisions and conditions of the Titling Trust Agreement and the 2011-A SUBI
Supplement thereto, dated as of July 25, 2011 (the “2011-A SUBI Supplement” and, together with the
Titling Trust Agreement, the “SUBI Trust Agreement”). Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in the Agreement of Definitions, dated
as of July 25, 2011, by and among Nissan Auto Lease Trust 2011-A, as issuer, (the “Issuing
Entity”) NILT Trust, as the Grantor and the UTI Beneficiary, the Titling Trust, Nissan Motor
Acceptance Corporation, in its individual capacity, as the Servicer and administrative agent,
Nissan Auto Leasing LLC II (the “Depositor”), the Titling Trustee, Wilmington Trust
Company, as owner trustee and the Delaware Trustee, the Trust Agent and Citibank, N.A., as
indenture trustee ( the “Indenture Trustee”). By acceptance of this 2011-A SUBI
Certificate, the Holder hereof assents to the terms and conditions of the SUBI Trust Agreement and
agrees to be bound thereby. A summary of certain of the pertinent provisions of the SUBI Trust
Agreement is set forth below.

     The assets of the Titling Trust allocated to the 2011-A SUBI will generally consist of (i)
cash capital, (ii) the 2011-A Leases (iii) the 2011-A Vehicles, (iv) certain related Trust Assets
and (v) all of the Titling Trust’s rights thereunder, including the right to proceeds arising
therefrom or in connection therewith.

(NALT 2011-A SUBI Supplement)

A-2

 

     Under the Titling Trust Agreement, from time to time the UTI Beneficiary may direct the
Trustee to issue to or upon the order of the UTI Beneficiary one or more certificates (each, a
“SUBI Certificate”) representing a beneficial interest in certain specified Leased
Vehicles, Leases and related Trust Assets (such assets, the “SUBI Assets”). Upon the
issuance of the SUBI Certificates relating to the SUBI Assets, the beneficial interest in the
Titling Trust and the Trust Assets represented by the UTI shall be reduced by the amount of the
Trust Assets represented by such SUBI Certificates. This certificate was issued pursuant to the
2011-A SUBI Supplement and represents a 100% beneficial interest in the 2011-A SUBI Assets.

     The UTI and the 2011-A SUBI shall each constitute a separate series of the Titling Trust
pursuant to Section 3806(b)(2) of the Delaware Statutory Trust Act for which separate and distinct
records shall be maintained.

     The 2011-A SUBI Supplement may be amended by the parties thereto upon the terms and subject to
the conditions set forth in the 2011-A SUBI Supplement.

     The Holder, by acceptance of this 2011-A SUBI Certificate, 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, the Grantor, the Depositor, the Titling Trustee, the Titling Trust,
the Issuing Entity , any Beneficiary, any Special Purpose Affiliate, any bankruptcy,
reorganization, arrangement, insolvency or liquidation Proceeding or other Proceedings under any
federal or state bankruptcy or similar law. Such covenant shall survive the termination of the SUBI
Trust Agreement, the resignation or removal of the Titling Trustee under the SUBI Trust Agreement
or the complete or partial resignation of the Servicer under the SUBI Trust Agreement or the
Servicing Agreement.

     The Holder hereof hereby (i) expressly waives any claim it may have to any proceeds or assets
of the Titling Trustee and to all of the Trust Assets other than those from time to time included
within the 2011-A SUBI as 2011-A SUBI Assets and those proceeds or assets derived from or earned by
such 2011-A SUBI Assets and (ii) expressly subordinates in favor of the Holder of any certificate
evidencing an Other SUBI or a UTI Certificate any claim to any Other SUBI or UTI Assets that,
notwithstanding the waiver contained in clause (i), may be determined to exist.

     The Titling Trustee shall keep the certificate register with respect to this 2011-A SUBI
Certificate, and the Holder of this 2011-A SUBI Certificate shall notify the Titling Trustee of any
change of address or instructions on the distribution of funds.

     The 2011-A SUBI may only be terminated under the terms and subject to the conditions set forth
in the 2011-A SUBI Supplement. The Titling Trust or the UTI may terminate upon the terms and
subject to the conditions set forth in the SUBI Trust Agreement.

     No SUBI or SUBI Certificate shall be transferred or assigned except to the extent specified in
the SUBI Trust Agreement or in any related Supplement and, to the fullest extent permitted by
applicable law, any such purported transfer or assignment other than as so specified shall be
deemed null, void, and of no effect under the SUBI Trust Agreement. Notwithstanding

(NALT 2011-A SUBI Supplement)

A-3

 

the foregoing, any SUBI Certificate and the interest in the SUBI evidenced thereby may be
(i) transferred, assigned or pledged to any Special Purpose Affiliate or (ii) transferred, assigned
or pledged by the Related Beneficiary or a Special Purpose Affiliate to or in favor of (A) a
trustee for one or more trusts or (B) one or more other entities, in either case solely for the
purpose of securing or otherwise facilitating one or more Securitized Financings.

     This 2011-A SUBI Certificate shall be governed by and construed under the internal laws of the
State of Delaware, without reference to its conflicts of law provisions.

     Unless this 2011-A SUBI Certificate shall have been executed by an authorized officer of the
Titling Trustee, by manual signature, this 2011-A SUBI Certificate shall not entitle the holder
hereof to any benefit under the SUBI Trust Agreement or be valid for any purpose.

(NALT 2011-A SUBI Supplement)

A-4

 

     IN WITNESS WHEREOF, NILT, Inc., as trustee of the Titling Trust and not in its individual
capacity, has caused this 2011-A SUBI Certificate to be duly executed.

     Dated: ___________, 2011

	 	 	 	 	 
	 	NISSAN-INFINITI LT

 	 
	 	By:  	NILT, INC.,
 	 
	 	 	as Titling Trustee 	 
	 	 	 	 
	 

     (SEAL)

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     ATTEST:

     ______________________

     This is the 2011-A SUBI Certificate referred to in the within-mentioned Supplement.

	 	 	 	 	 
	 	NILT, INC., as Titling Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

(NALT 2011-A SUBI Supplement)

A-5

 

     FOR VALUE RECEIVED, the undersigned hereby sells, transfers and assigns unto
______________ the within 2011-A SUBI Certificate, and all rights thereunder, hereby irrevocably
constituting and appointing _____________ as attorney to transfer said 2011-A SUBI Certificate on
the books of the certificate registrar, with full power of substitution in the premises.

	 	 	 	 	 
	 	NISSAN AUTO LEASE TRUST 2011-A

By: WILMINGTON TRUST COMPANY

as Owner Trustee

 	 
	Date: 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

(NALT 2011-A SUBI Supplement)

A-6exv10w3

Exhibit 10.3

 

NISSAN-INFINITI LT,

as Titling Trust,

NILT TRUST,

as Grantor and UTI Beneficiary,

and

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

 

2011-A SUBI

SERVICING SUPPLEMENT

Dated as of July 25, 2011

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE
SEVEN DEFINITIONS
	 	 	1	 
	Section 7.01 Definitions
	 	 	1	 
	Section 7.02 Interpretative Provisions
	 	 	2	 
	 
	 	 	 	 
	ARTICLE
EIGHT SERVICING OF THE 2011-A LEASES AND 2011-A VEHICLES
	 	 	2	 
	Section 8.01 Identification of 2011-A Leases and 2011-A Vehicles; Securitization
Value
	 	 	2	 
	Section 8.02 Reallocation and Repurchase of 2011-A Leases and 2011-A Vehicles;
Purchase of Matured Vehicles; Lease Pull-Forwards
	 	 	2	 
	Section 8.03 Collections and Payment Date Advance Reimbursement
	 	 	4	 
	Section 8.04 Net Deposits
	 	 	6	 
	Section 8.05 Servicing Compensation
	 	 	6	 
	Section 8.06 Advances
	 	 	6	 
	Section 8.07 Third Party Claims
	 	 	7	 
	Section 8.08 Contingent and Excess Liability Insurance Policy
	 	 	7	 
	Section 8.09 Reporting by the Servicer; Delivery of Certain Documentation
	 	 	8	 
	Section 8.10 Accountants’ Attestation
	 	 	8	 
	Section 8.11 Servicer’s Assessment Report; Annual Servicer’s Compliance Statement;
Officer’s Certificate; Administrative Agent Compensation
	 	 	8	 
	Section 8.12 Servicer Defaults; Termination of Servicer
	 	 	9	 
	Section 8.13 Servicer Representations and Warranties
	 	 	11	 
	Section 8.14 Compliance with Regulation AB
	 	 	11	 
	Section 8.15 Currency Swap Agreement
	 	 	11	 
	Section 8.16 Possession of Lease Documents
	 	 	12	 
	 
	 	 	 	 
	ARTICLE NINE MISCELLANEOUS
	 	 	12	 
	Section 9.01 Termination of Servicing Supplement
	 	 	12	 

i

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	Section 9.02 Governing Law
	 	 	12	 
	Section 9.03 Amendment
	 	 	12	 
	Section 9.04 Relationship of this 2011-A Servicing Supplement to Other Trust
Documents
	 	 	14	 
	Section 9.05 Binding Effect
	 	 	14	 
	Section 9.06 Table of Contents and Headings
	 	 	14	 
	Section 9.07 Counterparts
	 	 	14	 
	Section 9.08 Further Assurances
	 	 	14	 
	Section 9.09 Third-Party Beneficiaries
	 	 	14	 
	Section 9.10 No Waiver; Cumulative Remedies
	 	 	14	 
	Section 9.11 No Petition
	 	 	15	 
	Section 9.12 No Recourse
	 	 	15	 
	Section 9.13 Notices
	 	 	15	 
	 
	 	 	 	 
	EXHIBIT
	 	 	 	 
	Exhibit A — Form of Settlement Statement
	 	 	A-1	 
	Exhibit B — Form of Annual ERISA Certification
	 	 	B-1	 
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	Schedule A — Regulation AB Representations, Warranties and Covenants
	 	 	 	 

ii

 

2011-A SUBI SERVICING SUPPLEMENT

     This 2011-A SUBI Servicing Supplement, dated as of July 25, 2011 (as amended, supplemented or
otherwise modified, this “2011-A Servicing Supplement”), is among Nissan-Infiniti LT, a
Delaware statutory trust (the “Titling Trust”), NILT Trust, a Delaware statutory trust, as
grantor and initial beneficiary of the Titling Trust (in such capacities, the “Grantor” and
the “UTI Beneficiary,” respectively), and Nissan Motor Acceptance Corporation, a California
corporation (“NMAC”), as servicer (the “Servicer”).

RECITALS

     A. The Grantor and the UTI Beneficiary, the Servicer, NILT, Inc., as trustee of the Titling
Trust (the “Titling Trustee”), Wilmington Trust Company, as Delaware trustee (the
“Delaware Trustee”), and U.S. Bank National Association (“U.S. Bank”), as trust
agent (the “Trust Agent”), have entered into the Amended and Restated Trust and Servicing
Agreement, dated as of August 26, 1998 (the “Titling Trust Agreement”), pursuant to which
the Titling Trust was created to, among other things, take assignments and conveyances of and hold
in trust various assets (the “Trust Assets”);

     B. The parties hereto have entered into the Servicing Agreement, dated as of March 1, 1999 as
amended by the First Amendment to the Servicing Agreement, dated as of January 3, 2001 (the
“Basic Servicing Agreement” and, as supplemented hereby, the “Servicing
Agreement”), which provides for certain servicing obligations with respect to the Trust Assets;
and

     C. The parties acknowledge that in connection with the execution of the 2011-A SUBI Supplement
to the Titling Trust Agreement, dated as of July 25, 2011 (the “2011-A SUBI Supplement”,
and together with the Titling Trust Agreement, the “SUBI Trust Agreement”), pursuant to
which a special unit of beneficial interest in the Titling Trust (the “2011-A SUBI”) will
be created, it is necessary and desirable to enter into a supplemental agreement to the Basic
Servicing Agreement providing for specific servicing obligations in connection with the Trust
Assets allocable to the 2011-A SUBI.

     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:

ARTICLE SEVEN

DEFINITIONS

     Section 7.01 Definitions. Capitalized terms used herein that are not otherwise
defined shall have the respective meanings ascribed thereto in the Agreement of Definitions, dated
as of July 25, 2011, by and among Nissan Auto Lease Trust 2011-A, as issuer (the “Issuing
Entity”), NILT Trust, as Grantor and UTI Beneficiary, the Titling Trust, NMAC, in its
individual capacity, as Servicer and as administrative agent (in such capacity, the
“Administrative Agent”), Nissan Auto Leasing LLC II, a Delaware limited liability company
(“NALL II”), the Titling Trustee, the Delaware Trustee, Wilmington Trust Company, as owner
trustee (in such capacity,

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the “Owner Trustee”), U.S. Bank, as Trust Agent, and Citibank, N.A., as indenture
trustee (in such capacity, the “Indenture Trustee”).

     Section 7.02 Interpretative Provisions. For all purposes of this 2011-A Servicing
Supplement, except as otherwise expressly provided or unless the context otherwise requires, (i)
terms used herein 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 2011-A Servicing
Supplement as a whole and not to any particular part, Article or Section within this 2011-A
Servicing Supplement, (iii) references to an Article or Section such as “Article Eight” or
“Section 8.01” shall refer to the applicable Article or Section of this 2011-A Servicing
Supplement, (iv) the term “include” and all variations thereof shall mean “include without
limitation,” (v) the term “or” shall include “and/or,” (vi) the term “proceeds” shall have the
meaning ascribed to such term in the UCC, (vii) references to Persons include their permitted
successors and assigns, (viii) references to agreements and other contractual instruments include
all subsequent amendments, amendments and restatements and supplements thereto or changes therein
entered into in accordance with their respective terms and not prohibited by this 2011-A Servicing
Supplement, except that references to the SUBI Trust Agreement include only such items as related
to the 2011-A SUBI and the Titling Trust, (ix) references to laws include their amendments and
supplements, the rules and regulations thereunder and any successors thereto, (x) references to
this 2011-A Servicing Supplement include all Exhibits hereto, (xi) the phrase “Titling Trustee on
behalf of the Trust,” or words of similar import, shall, to the extent required to effectuate the
appointment of any Co-Trustee pursuant to the Titling Trust Agreement, be deemed to refer to the
Trustee (or such Co-Trustee) on behalf of the Titling Trust, and (xii) in the computation of a
period of time from a specified date to a later specified date, the word “from” shall mean “from
and including” and the words “to” and “until” shall mean “to but excluding.”

ARTICLE EIGHT

SERVICING OF THE 2011-A LEASES AND 2011-A VEHICLES

     Section 8.01 Identification of 2011-A Leases and 2011-A Vehicles; Securitization
Value. The Servicer hereby identifies as 2011-A SUBI Assets the Leased Vehicles and the Leases
relating to such Leased Vehicles more particularly described in the Schedule of 2011-A Leases and
2011-A Vehicles (respectively, the “2011-A Vehicles” and the “2011-A Leases”). The
Servicer shall calculate the Securitization Value for each 2011-A Lease as of the Cutoff Date.

     Section 8.02 Reallocation and Repurchase of 2011-A Leases and 2011-A Vehicles; Purchase of
Matured Vehicles; Lease Pull-Forwards.

          (a) (i) If the Servicer grants a lease term extension of more than 6 months or an extension
that extends the lease term beyond the Note Final Scheduled Payment Date for the Class A-4 Notes,
with respect to any 2011-A Lease, the Servicer shall, on the related Deposit Date, (A) deposit or
cause to be deposited into the 2011-A SUBI Collection Account an amount equal to the Repurchase
Payment and (B) direct the Titling Trustee to either reallocate such 2011-A Lease and the related
2011-A Vehicle from the 2011-A SUBI to the UTI or an Other SUBI or cause such 2011-A Lease and
2011-A Vehicle to be conveyed to the Servicer; and (ii) if

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a Lessee changes the domicile of or title to a 2011-A Vehicle and such change would result in
the Titling Trust doing business in a Restricted Jurisdiction, the Servicer, on the related Deposit
Date, (A) shall deposit or cause to be deposited into the 2011-A SUBI Collection Account an amount
equal to the Repurchase Payment, and (B) shall direct the Titling Trustee to either reallocate such
2011-A Lease and the related 2011-A Vehicle from the 2011-A SUBI to an Other SUBI or the UTI or
cause such 2011-A Lease and 2011-A Vehicle to be conveyed to the Servicer.

          (b) The Servicer hereby makes to the other parties hereto and the parties to the SUBI Trust
Agreement the representations and warranties contained in Section 2.06(a) of the Basic
Servicing Agreement as to each 2011-A Lease and 2011-A Vehicle as of the Vehicle Representation
Date. The Servicer also hereby represents and warrants that (i) each 2011-A Lease is an 2011-A
Eligible Lease, and (ii) it used no adverse selection procedures in selecting any of the 2011-A
Leases or any of the 2011-A Vehicles for allocation to the 2011-A SUBI. Upon discovery by the
Titling Trustee, the Servicer, the Owner Trustee, the Indenture Trustee or the Depositor that any
representation or warranty in this Section 8.02(b) was incorrect as of the Cutoff Date in a
manner that materially adversely affects the interest of the Issuing Entity in the related 2011-A
Lease or 2011-A Vehicle, the entity discovering such incorrectness (if other than the Servicer)
shall give prompt written notice to the Servicer. If the Servicer does not cure in all material
respects the circumstance or condition with respect to which the representation or warranty was
incorrect as of the Cutoff Date prior to the end of the Collection Period which includes the 60th
day (or, if the Servicer elects, an earlier date) after the date that the Servicer discovers such
incorrectness (whether pursuant to such notice or otherwise), then the Servicer shall (i) deposit
(or cause to be deposited) into the 2011-A SUBI Collection Account an amount equal to the
Repurchase Payment on the Deposit Date following the end of such Collection Period, and (ii) direct
the Titling Trustee to either reallocate such 2011-A Lease and the related 2011-A Vehicle from the
2011-A SUBI to an Other SUBI or the UTI or cause such 2011-A Lease and 2011-A Vehicle to be
conveyed to the Servicer on the Deposit Date.

          (c) Immediately prior to the sale or disposition of a Matured Vehicle or a Defaulted Vehicle,
the Servicer may reallocate such Matured Vehicle or Defaulted Vehicle from the 2011-A SUBI to the
UTI for purposes of implementing NMAC’s like kind exchange program. In connection with such
reallocation, NILT Trust, as the UTI Beneficiary, will cause to be deposited into the 2011-A SUBI
Collection Account the Reallocation Payments no later than two Business Days after such
reallocation, or, if the Monthly Remittance Condition is met, the Servicer shall be permitted to
retain the Reallocation Payments received during a Collection Period until such amounts are
required to be disbursed as set forth in Section 8.03(c). Upon receipt of the Reallocation
Payments, the 2011-A SUBI shall have no claim against or interest in such Matured or Defaulted
Vehicle.

          (d) In connection with the purchase by the Servicer of a Matured Vehicle relating to a 2011-A
Lease pursuant to Section 2.06(f) of the Basic Servicing Agreement, if (i) no Sales
Proceeds Advance has been made, the purchase price of such Matured Vehicle will equal the
Securitization Value of such 2011-A Lease as of the date of expiration and (ii) a Sales Proceeds
Advance has been made, (A) the purchase price will equal the amount of the Sales Proceeds Advance,
(B) no additional amounts need be remitted by the Servicer, and (C) the Servicer shall be deemed to
have been reimbursed for such Sales Proceeds Advance.

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          (e) If any 2011-A Lease and the related 2011-A Vehicle are reallocated to the UTI, until such
time thereafter, if ever, as such Lease and Leased Vehicle are allocated to an Other SUBI, the
Servicer shall indemnify, defend and hold harmless the Related Beneficiaries, the Issuing Entity
and the Titling Trust from and against any and all loss or liability with respect to or resulting
from such 2011-A Lease or 2011-A Vehicle (including the reasonable fees and expenses of counsel)
except the Servicer shall not be liable for or required to indemnify the Related Beneficiaries, the
Issuing Entity and the Titling Trust from and against any and all special, indirect, consequential
or punitive losses or liabilities.

          (f) If the Servicer permits a Lease Pull-Forward, all Pull-Forward Payments due and payable by
the Lessee under the Lease will be paid and deposited in the SUBI Collection Account within the
time period required for the Servicer to deposit collections into the SUBI Collection Account;
provided that, if the Servicer waives the Pull-Forward Payment (or any portion thereof) payable by
the Lessee during any Collection Period, the Servicer will be required to deposit the waived amount
of the Pull-Forward Payment into the SUBI Collection Account by the next Deposit Date related to
such Collection Period.

     Section 8.03 Collections and Payment Date Advance Reimbursement.

          (a) The Servicer shall, with respect to SUBI Collections and amounts in respect of the 2011-A
SUBI Certificate, from time to time, determine the respective amounts and recipients and:

     (i) during each Collection Period, in addition to the deposits required by Section
2.07 of the Basic Servicing Agreement, deposit into the 2011-A SUBI Collection Account
all Repurchase Payments pursuant to Section 8.02(a) and Section 8.02(b), and
any Reallocation Payments pursuant to Section 8.02(c);

     (ii) on, or prior to each Deposit Date, deposit into the 2011-A SUBI Collection Account
all Advances, any Residual Value Surplus from the sale of a Matured Vehicle for which the
Servicer made a Sales Proceeds Advance and any Net Auction Proceeds from the disposition of
a Matured Vehicle at auction for which the Servicer was reimbursed during the related
Collection Period pursuant to Section 8.06; and

     (iii) on each Payment Date, pursuant to the related Payment Date Certificate, allocate
Available Funds on deposit in the 2011-A SUBI Collection Account with respect to the related
Collection Period and instruct the Indenture Trustee to make, no later than 11:00 a.m., New
York City time, or such other time as may be agreed to by the applicable parties, the
following deposits and distributions in the following amounts and order of priority:

     (A) to the Servicer the sum of outstanding (1) Sales Proceeds Advances (x) in
respect of 2011-A Vehicles that were sold during the related Collection Period
(other than a sale to the Servicer pursuant to Section 8.02(d)(ii)), and (y)
that have been outstanding as of the end of that Collection Period for at least 90
days and (2) Monthly Payment Advances as to which the related Lessee has made all or
a portion of the advanced Monthly Payment or that

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have been outstanding as of the end of the Collection Period for at least 90
days (collectively, the “Payment Date Advance Reimbursement”);

     (B) to or on behalf of the Servicer, the Servicing Fee in respect of the
related Collection Period, together with any unpaid Servicing Fees in respect of one
or more prior Collection Periods; and

     (C) to the Note Distribution Account, the Reserve Account and Certificate
Distribution Account, as applicable, such distributions in the amounts and order of
priority as set forth in Sections 8.04(a), 8.04(b) and 10.01
of the Indenture.

          (b) Notwithstanding Section 2.07 of the Basic Servicing Agreement, the Servicer shall
remit into the SUBI Collection Account the amounts provided for in such Section received during a
Collection Period, by (subject to Section 8.03(c)) the close of business on the second
Business Day after identification.

          (c) Notwithstanding Section 8.02(c) or 8.03(b) hereof, the Servicer shall be
permitted to retain the amounts provided for in such subsections received during a Collection
Period until the Business Day preceding the Payment Date on which such amounts are required to be
disbursed (or such other date as provided in the Public ABS Transaction referred to below), for so
long as no Servicer Default has occurred and is continuing, and the following requirements are met
(collectively, the “Monthly Remittance Condition”):

     (i) (A) NMAC (or its successors pursuant to Section 5.03(b) of the Basic
Servicing Agreement) is the Servicer, and (B) NMAC’s short-term unsecured debt obligations
are rated at least “Prime-1” by Moody’s and “F-1” by Fitch (in each case, so long as Moody’s
or Fitch is a Rating Agency);

     (ii) the Servicer obtains a Servicer Letter of Credit or certain other arrangements are
made and the Rating Agency Condition is satisfied;

     (iii) the Servicer otherwise satisfies each Rating Agency’s requirements; or

     (iv) if the Outstanding Amount of the Notes is reduced to zero and 100% of the
outstanding Trust Certificates are owned by the Trust, the Depositor, the Servicer (so long
as NMAC or an Affiliate is the Servicer) and their respective Affiliates.

     Pending deposit into the 2011-A SUBI Collection Account, SUBI Collections may be employed by
the Servicer at its own risk and for its own benefit and shall not be segregated from its own
funds. Notwithstanding anything herein to the contrary, if a subsequent Public ABS Transaction
calls for changes in making monthly deposits to the related collection account, then, if the Rating
Agency Condition is satisfied, the Servicer will no longer be bound by the Monthly Remittance
Condition hereunder, and will instead be subject to the conditions to making monthly deposits as
required by the subsequent Public ABS Transaction.

          (d) Notwithstanding Sections 2.07(a) and 2.11(a) of the Basic Servicing
Agreement, the Servicer shall use commercially reasonable efforts in accordance with its

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Customary Servicing Practices to (i) collect all payments required under each Lease and (ii)
cause each Lessee to make all payments required under its Lease, accompanied by an invoice, payment
coupon or electronic funds transfer notice bearing the lease number to which such payment relates.

     Section 8.04 Net Deposits. Notwithstanding anything to the contrary contained in this
2011-A Servicing Supplement, for so long as NMAC is the Servicer, the Servicer shall be permitted
to deposit into the 2011-A SUBI Collection Account only the net amount distributable to the Issuing
Entity, as holder of the 2011-A SUBI Certificate on the related Deposit Date. The Servicer shall,
however, account to the Issuing Entity, the Titling Trustee, the Trust Agent, the Indenture Trustee
(or any successor to the duties of the Indenture Trustee), the Owner Trustee and the Holders of the
Securities as if all of the deposits and distributions described herein were made individually.

     Section 8.05 Servicing Compensation.

          (a) As compensation for the performance of its obligations under the Servicing Agreement, the
Servicer shall be entitled to receive the Servicing Fee.

          (b) The Servicer shall also be entitled to additional servicing compensation with respect to
the 2011-A SUBI Assets in the form of Administrative Charges to the extent not required for the
payment of insurance premiums, taxes, or similar charges allocable to the 2011-A Leases; provided,
however, that the Servicer may in its sole discretion waive any Administrative Charges, in whole or
in part, in connection with any delinquent payments due on a Lease.

     Section 8.06 Advances.

          (a) If during a Collection Period a Lessee makes a Lessee Partial Monthly Payment, the
Servicer shall make, by deposit into the 2011-A SUBI Collection Account on the related Deposit
Date, a Monthly Payment Advance, unless such Advance is not required to be made pursuant to
Section 8.06(c).

          (b) On each Deposit Date, the Servicer shall make, by deposit into the 2011-A SUBI Collection
Account, Sales Proceeds Advances, unless such Advance is not required to be made pursuant to
Section 8.06(c). After the Servicer has made a Sales Proceeds Advance with respect to a
Matured Vehicle, the Issuing Entity shall have no claim against or interest in such Matured Vehicle
or any Net Auction Proceeds resulting from the sale or other disposition thereof, except with
respect to any related Residual Value Surplus. If the Servicer shall sell or otherwise dispose of
a Matured Vehicle after having made a Sales Proceeds Advance, the Issuing Entity may retain all of
such Sales Proceeds Advance, and the Servicer shall retain the related Net Auction Proceeds up to
the Securitization Value of the related 2011-A Lease, and shall deposit the Residual Value Surplus,
if any, into the 2011-A SUBI Collection Account. If the Net Auction Proceeds are less than the
Securitization Value of the related 2011-A Lease, the Servicer may deduct the difference from SUBI
Collections in respect of one or more future Collection Periods and retain such amount as
reimbursement for the outstanding portion of the related Sales Proceeds Advance. If the Servicer
has not sold a Matured Vehicle within six calendar months

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after it has made a Sales Proceeds Advance, it shall be reimbursed for such Sales Proceeds
Advance from the 2011-A SUBI Collection Account. Within six months of receiving such
reimbursement, if the related 2011-A Vehicle has not been sold, the Servicer shall, if permitted by
applicable law, cause such 2011-A Vehicle to be sold at auction and shall remit the proceeds (less
Disposition Expenses and Liquidation Expenses) associated with such auction sale to the 2011-A SUBI
Collection Account.

          (c) Notwithstanding anything to the contrary in the Servicing Agreement, the Servicer shall be
required to make an Advance only to the extent that it determines that such Advance will be
recoverable from future payments on or in respect of the related 2011-A Lease or 2011-A Vehicle.

     Section 8.07 Third Party Claims. In addition to the requirements set forth in
Section 2.14 of the Basic Servicing Agreement, the Servicer shall immediately notify the
Depositor (in the event that NMAC is not acting as Servicer) and the Indenture Trustee (or any
successor to the duties of the Indenture Trustee) upon learning of a claim or Lien of whatever kind
of a third party that would materially and adversely affect the interests of the Depositor or the
Issuing Entity with respect to the 2011-A SUBI Assets.

     Section 8.08 Contingent and Excess Liability Insurance Policy. So long as any
Securities are outstanding, the Servicer shall maintain and pay when due all premiums with respect
to, and the Servicer may not terminate or cause the termination of, the Contingent and Excess
Liability Insurance Policy unless (i) a replacement Insurance Policy is obtained that provides
coverage against third party claims that may be raised against the Titling Trust, the Titling
Trustee on behalf of the Titling Trust or the Issuing Entity in an amount at least equal to $1
million combined single limit per occurrence and excess coverage of at least $15 million combined
single limit each occurrence and in the aggregate, without limit on the number of occurrences in
any policy period (which Insurance Policy may be a blanket Insurance Policy covering the Servicer
and one or more of its Affiliates) and (ii) each Rating Agency receives prior written notice (which
shall be deemed to be delivered if a copy of such notice has been posted on any web site maintained
by NMAC pursuant to a commitment to any Rating Agency relating to the Notes in accordance with 17
C.F.R. 240.17g-5(a)(3)) of such termination and any replacement insurance policy. The obligations
of the Servicer pursuant to this Section shall survive any termination of the Servicer’s other
obligations under the Servicing Agreement until such time as claims can no longer be brought that
would be covered by such Insurance Policies, whether as a result of the expiration of relevant
statutes of limitations or otherwise. Notwithstanding the foregoing, the Servicer shall only be
required to maintain the Contingent and Excess Liability Insurance Policy that is required to be
maintained by the Servicer in the most recent Public ABS Transaction; provided, that if no such
Contingent and Excess Liability Insurance Policy is required to be maintained in the most recent
Public ABS Transaction, then no such Contingent and Excess Liability Insurance Policy shall be
required hereunder.

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     Section 8.09 Reporting by the Servicer; Delivery of Certain Documentation. On the
tenth calendar day of each month (or, if the 10th day is not a Business Day, the next
succeeding Business Day), the Servicer shall furnish to the Titling Trustee and each Related
Beneficiary a Settlement Statement, substantially in the form as set forth in Exhibit A
hereto for the immediately preceding Collection Period.

     Section 8.10 Accountants’ Attestation. So long as the Depositor is filing the
attestation report with respect to the Issuing Entity under the Exchange Act, on or before the last
day of the third month after the end of each fiscal year of the Servicer, beginning with June 30,
2012, the Servicer shall cause a firm of independent certified public accountants to furnish an
attestation report to the Issuing Entity, Indenture Trustee and each Rating Agency as to the
Servicer’s Assessment Report of its compliance with the applicable servicing criteria set forth
under Item 1122 of Regulation AB during the Servicer’s preceding fiscal year (or since the date of
the issuance of the Notes in the case of the first such statement), which shall be deemed furnished
upon filing such report with the Commission. The form of attestation report may be deleted or
replaced by any similar form using any standards that are now or in the future in use by servicers
of comparable assets or which otherwise comply with any note, regulation, “no action” letter or
similar guidelines promulgated by the Commission.

     Section 8.11 Servicer’s Assessment Report; Annual Servicer’s Compliance Statement;
Officer’s Certificate; Administrative Agent Compensation.

          (a) The Servicer shall deliver to the Owner Trustee, the Indenture Trustee and each of the
Rating Agencies, which shall be deemed to be delivered upon filing such report with the Commission,
on or before the last day of the third month after the end of each fiscal year of the Servicer,
beginning with June 30, 2012, a report assessing the Servicer’s compliance with the servicing
criteria set forth in the relevant SEC regulations for asset-backed securities transactions,
including Items 1122 and 1123 of Regulation AB, as of and for the period ending the end of each
fiscal year of the Issuing Entity (the “Servicer’s Assessment Report”) and such Servicer’s
Assessment Report will identify any material instance of noncompliance, so long as the Depositor is
filing the Servicer’s Assessment Report with respect to the Issuing Entity under the Exchange Act.
The form of Servicer’s Assessment Report may be deleted or replaced by any similar form using any
standards that are now or in the future in use by servicers of comparable assets or which otherwise
comply with any rule, regulation, “no action” letter or similar guidelines promulgated by the
Commission.

          (b) The Servicer shall also deliver to the Owner Trustee, the Indenture Trustee and each of
the Rating Agencies, on or before the last day of the third month after the end of each fiscal year
of the Servicer, beginning with June 30, 2012, an Officer’s Certificate with respect to the prior
fiscal year of the Servicer ended such calendar year (or with respect to the initial Officer’s
Certificate, the period from the date of the initial issuance of the Notes to March 31, 2012),
stating that (i) a review of the activities of the Servicer during the preceding 12-month (or
shorter) period and of its performance under this Agreement has been made under such officer’s
supervision and (ii) to the best of such officer’s knowledge, based on such review, the Servicer
has fulfilled all its obligations under this Agreement throughout such twelve-month (or shorter)
period in all material respects, or, if there has been a failure to fulfill any such obligation,
specifying each such failure known to such officer and the nature and status thereof.

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Copies of such statements, certificates and reports may be obtained by the Noteholders or the
Certificateholder by a request in writing addressed to the Indenture Trustee or the Owner Trustee.

          (c) On or before the last day of the third month after the end of each fiscal year of the
Servicer, beginning with June 30, 2012, for as long as NMAC continues to act as the Servicer, the
Servicer shall deliver an Officer’s Certificate substantially in the form of Exhibit B with
respect to the Employee Benefit Plans to each Rating Agency, the Owner Trustee and the Indenture
Trustee.

          (d) The Servicer shall pay the Administrative Agent an annual payment of compensation in an
amount to be agreed to between the Administrative Agent and the Servicer pursuant to Section
1.04 of the Trust Administration Agreement.

     Section 8.12 Servicer Defaults; Termination of Servicer.

          (a) Each of the following acts or occurrences constitutes a “Servicer Default” under
the Servicing Agreement with respect to the 2011-A SUBIs:

     (i) the Servicer fails to deliver, or cause to be delivered, any required payment to
the Indenture Trustee for distribution to the Noteholders or to the Owner Trustee for
distribution to the Trust Certificateholders, which failure continues for five Business Days
after discovery of such failure by an officer of the Servicer or receipt by the Servicer of
written notice thereof from the Indenture Trustee, or Noteholders or Trust
Certificateholders, as applicable, evidencing at least a Majority Interest in the applicable
Securities (which for this purpose includes Trust Certificates held by the Issuing Entity,
the Depositor, the Servicer (so long as NMAC or an Affiliate is the Servicer) and their
respective Affiliates), voting together as a single class;

     (ii) the Servicer fails to duly observe or perform in any material respect any of its
covenants or agreements in the Servicing Agreement not otherwise covered in this Section
8.12(a), which failure materially and adversely affects the rights of a Holder of the
2011-A SUBI Certificate, the Noteholders or Trust Certificateholders, as applicable, and
which continues unremedied for 60 days (or for such longer period not in excess of 90 days
as may be reasonably necessary to remedy such failure; provided that (A) such failure is
capable of remedy within 90 days or less and (B) a Majority Interest in the applicable
Securities consents to such longer cure period) after receipt by the Servicer of written
notice thereof from the Indenture Trustee or the related holders evidencing at least a
Majority Interest in the applicable Securities or such default becomes known to the
Servicer;

     (iii) any representation, warranty, or statement of the Servicer made in the Servicing
Agreement, any other Basic Document to which the Servicer is a party or by which it is bound
or any certificate, report or other writing delivered pursuant to the Servicing Agreement
that proves to be incorrect in any material respect when made, which failure materially and
adversely affects the rights of a Holder of the 2011-A SUBI Certificate or the holders of
the Notes, or the Trust Certificateholders, continues

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unremedied for 60 days (or for such longer period not in excess of 90 days as may be
reasonably necessary to remedy such failure; provided that (A) such failure is capable of
remedy within 90 days or less and (B) a Majority Interest in the applicable Securities
consents to such longer cure period) after receipt by the Servicer of written notice thereof
from the Titling Trustee or the related holders evidencing a Majority Interest in the
applicable Securities, or such default becomes known to the Servicer;

     (iv) (A) the existence of any Proceeding in, or the entry of a decree or order for
relief by, a court or regulatory authority having jurisdiction over the Servicer in an
involuntary case under the federal bankruptcy laws, as now or hereafter in effect, (B) the
appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other
similar official with respect to the Servicer or of any substantial part of its property or
(C) the ordering of the winding up or liquidation of the affairs of the Servicer, and in
each case, the continuance of any such Proceeding unstayed and in effect for a period of 90
consecutive days, or immediately upon entry of any decree or order; or

     (v) the Servicer (A) applies for or consents to the appointment of, or the taking of
possession by, a receiver, custodian, trustee, or liquidator of itself or of all or a
substantial part of its property, (B) is generally unable to pay its debts as they become
due, (C) makes a general assignment for the benefit of creditors, (D) commences a voluntary
case under the federal bankruptcy laws (E) is adjudicated to be bankrupt or insolvent, (F)
files a petition seeking to take advantage of any other law providing for the relief of
debtors, or (G) takes any corporate action for the purpose of effecting any of the
foregoing, and in each case, the continuance of any such event remains unstayed and in
effect for a period of 90 consecutive days;

provided, however, that notwithstanding any other provision of the Servicing
Agreement, (i) for the purpose of determining what constitutes a Servicer Default with respect to
the 2011-A SUBI, the provisions contained in this Section 8.12(a) shall replace in their
entirety the provisions contained in Section 4.01(a) of the Basic Servicing Agreement and
(ii) any Servicer Default with respect to the 2011-A SUBI shall not constitute a Servicing Default
with respect to any other Sub-Trust and any Servicing Default (as such term is defined in the Basic
Servicing Agreement) with respect to any other Sub-Trust shall constitute a Servicer Default (as
such term is defined in the Basic Servicing Agreement) only with respect to such Sub-Trust and not
with respect to the 2011-A SUBI.

          (b) Upon the occurrence of any Servicer Default, the Servicer, in addition to complying with
the notice requirements of Section 4.01(b) of the Basic Servicing Agreement (except that
references therein to Registered Pledgees shall mean each Registered Pledgee of the 2011-A SUBI
Certificate), shall provide to the Indenture Trustee and the Owner Trustee prompt notice of any (i)
Servicer Default or (ii) event or condition that, with the giving of notice or the passage of time,
or both, would become a Servicer Default, accompanied in each case by a description of the nature
of the default and the Servicer’s efforts to remedy the same.

          (c) In addition to the provisions of Section 4.01(c) of the Basic Servicing Agreement,
if a Servicer Default shall have occurred and is continuing with respect to the 2011-A SUBI, the
Titling Trustee, on behalf of the Titling Trust, shall, at the direction of the Required

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Related Holders, by notice given to the Servicer, the Administrative Agent (and the
Administrative Agent will provide each Rating Agency with notice thereof pursuant to Section
1.02(k) of the Trust Administration Agreement), the Related Beneficiary and the holders of the
Rated Securities affected by that Servicer Default, and such notice will terminate the rights and
obligations of the Servicer under this 2011-A Servicing Supplement in accordance with such Section.
In the event that the Servicer is removed as servicer with respect to servicing the 2011-A SUBI
Assets, subject to the consent of the Titling Trustee, the Required Related Holders shall appoint a
successor Servicer. The successor Servicer shall accept its appointment by a written assumption in
a form acceptable to the Titling Trustee. Such successor Servicer shall be approved by the Titling
Trustee, such approval not to be unreasonably withheld. Notwithstanding the provisions of
Section 4.01(e) of the Basic Servicing Agreement, with respect to any Servicer Default
related to the 2011-A SUBI Assets, the Titling Trustee, acting on the direction of the Required
Related Holders, may waive any default of the Servicer in the performance of its obligations under
the Servicing Agreement and its consequences with respect to the 2011-A SUBI and, upon any such
waiver, such default shall cease to exist and any Servicer Default arising therefrom shall be
deemed to have been remedied for every purpose of the Servicing Agreement. No such waiver shall
extend to any subsequent or other default or impair any right consequent thereto. For purposes of
this Section, so long as the Lien of the Indenture is in place, the Required Related Holders shall
be deemed to be the Indenture Trustee (as Registered Pledgee of the 2011-A SUBI Certificate),
acting at the direction of the Required Percentage of the Noteholders and thereafter, the Owner
Trustee, acting at the direction of the Required Percentage of the Trust Certificateholders (which
for this purpose shall include Trust Certificates owned by the Issuing Entity, the Depositor, the
Servicer (so long as NMAC or an Affiliate is the Servicer) and any of their respective Affiliates)
until the Certificate Balance has been reduced to zero.

          (d) If the Servicer is removed with respect to servicing the 2011-A SUBI Assets, the Servicer
shall be entitled to reimbursement for any outstanding Advances made pursuant to this 2011-A
Servicing Supplement, to the extent of the funds available therefor with respect to all Advances
made by the Servicer.

     Section 8.13 Servicer Representations and Warranties. Effective as of the date
hereof, the Servicer hereby reaffirms the representations and warranties set forth in Section
2.06(a) and Section 5.01 of the Basic Servicing Agreement, except that references to
“this Agreement” shall be deemed to refer to the Servicing Agreement, as such term is defined
herein.

     Section 8.14 Compliance with Regulation AB. The Servicer agrees to perform all duties
and obligations applicable to or required of the Issuing Entity set forth in Schedule A attached
hereto and made a part hereof in all respects and makes the representations and warranties therein
applicable to it.

     Section 8.15 Currency Swap Agreement. Pursuant to the Trust Agreement, the Issuing
Entity may, from time to time, as directed by the Certificateholders by means of notice to the
Administrative Agent, enter into a Currency Swap Agreement with a Currency Swap Counterparty to
swap amounts payable to Trust Certificateholders from U.S. dollars to Japanese yen; provided, that
(1) at the time the Issuing Entity enters into the Currency Swap Agreement, the Rating Agency
Condition shall have been satisfied, and (2) any payments to the Currency

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Swap Counterparty (including termination payments) are payable only from amounts that are
otherwise payable to the Trust Certificateholders. Any payments received by the Issuing Entity
from the Currency Swap Counterparty under a Currency Swap Agreement shall not be deposited in the
Collection Account and shall be paid by the Indenture Trustee directly to or to the order of the
Trust Certificateholders on the related Payment Date. In connection with executing any such
Currency Swap Agreement, the Issuing Entity, Indenture Trustee, Owner Trustee, Seller and Servicer
will enter into an amendment to this Sale and Servicing Agreement, subject to Section 9.03,
in a form approved by the Trust Certificateholders, that will specify the creation of any necessary
accounts and modifications of any provisions hereof to the extent necessary or appropriate to
effectuate the intention of such Currency Swap Agreement.

     Section 8.16 Possession of Lease Documents. Notwithstanding anything to the contrary
in Section 2.03 of the Basic Servicing Agreement, the Servicer or its designee may hold the Lease
Documents at locations in the continental United States. The Servicer will furnish to the
Administrative Agent, as soon as practicable after receiving a request therefor, a list of all
locations where Lease Documents are kept.

ARTICLE NINE

MISCELLANEOUS

     Section 9.01 Termination of Servicing Supplement. This 2011-A Servicing Supplement
shall terminate upon the earlier to occur of (i) the termination of the 2011-A SUBI or (ii) with
respect to the Servicer, but not as to the applicable successor Servicer, the resignation or
removal of the Servicer with respect to the 2011-A SUBI in accordance with the terms of the
Servicing Agreement. Any such termination hereunder shall effect a termination only with respect
to the 2011-A SUBI Assets and not as to Trust Assets allocated to any other Sub-Trust, and shall
not effect a termination of the Basic Servicing Agreement or any other supplement to the Basic
Servicing Agreement.

     Section 9.02 Governing Law. This 2011-A Servicing Supplement shall be governed by and
construed in accordance with the internal laws of the State of California, without regard to any
otherwise applicable principles of conflict of laws.

     Section 9.03 Amendment.

          (a) Notwithstanding any provision of the Basic Servicing Agreement, the Basic Servicing
Agreement, as supplemented by this 2011-A Servicing Supplement, to the extent that it relates
solely to the 2011-A SUBI and the 2011-A SUBI Assets, may be amended in accordance with this
Section 9.03.

          (b) Any term or provision of this 2011-A Servicing Supplement may be amended by the parties
hereto, without the consent of any other Person; provided that (i) either (A) any amendment
that materially and adversely affects the interests of the Noteholders shall require the consent of
Noteholders evidencing not less than a Majority Interest of the Notes voting together as a single
class or (B) such amendment shall not, as evidenced by an Officer’s Certificate of the Servicer
delivered to the Indenture Trustee, materially and adversely affect the

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interests of the Noteholders, and (ii) any amendment that materially adversely affects the
interests of the Trust Certificateholder, Titling Trustee, the Delaware Trustee, the Indenture
Trustee or the Owner Trustee shall require the prior written consent of the Persons whose interests
are adversely affected; provided, further that an opinion of counsel is delivered
to the Titling Trustee to the effect that after such amendment, for federal income tax purposes,
the Titling Trust will not be treated as an association (or a publicly traded partnership) taxable
as a corporation and Notes will properly be characterized as indebtedness that is secured by the
assets of the Issuing Entity. An amendment shall be deemed not to materially and adversely affect
the interests of the Noteholders if the Rating Agency Condition is satisfied with respect to such
amendment and the Officer’s Certificate described in the preceding sentence is provided to the
Indenture Trustee. The consent of the Trust Certificateholder, the Delaware Trustee or the Owner
Trustee shall be deemed to have been given if the Servicer does not receive a written objection
from such Person within 10 Business Days after a written request for such consent shall have been
given. The Titling Trustee and the Indenture Trustee may, but shall not be obligated to, enter
into any such amendment that affects the Titling Trustee’s or the Indenture Trustee’s own rights,
duties, liabilities or immunities under this Agreement or otherwise.

          (c) Notwithstanding the foregoing, no amendment shall (i) reduce the interest rate or
principal amount of any Note, or change the due date of any installment of principal of or interest
in any Note, or the Redemption Price with respect thereto, without the consent of the Holder of
such Note or (ii) reduce the Outstanding Amount, the Holders of which are required to consent to
any matter without the consent of the Holders of at least a Majority Interest of the Notes which
were required to consent to such matter before giving effect to such.

          (d) Notwithstanding anything herein to the contrary, any term or provision of this 2011-A
Servicing Supplement may be amended by the parties hereto without the consent of any of the
Noteholders or any other Person to add, modify or eliminate any provisions as may be necessary or
advisable in order to comply with or obtain more favorable treatment under or with respect to any
law or regulation or any accounting rule or principle (whether now or in the future in effect); it
being a condition to any such amendment that the Rating Agency Condition shall have been satisfied
and the Officer’s Certificate described in Section 9.03(b)(i)(B) is delivered to the
Indenture Trustee.

          (e) It shall not be necessary for the consent of any Person pursuant to this Section for such
Person to approve the particular form of any proposed amendment, but it shall be sufficient if such
Person consents to the substance thereof.

          (f) Prior to the execution of any amendment to this 2011-A SUBI Servicing Supplement, the
Servicer shall provide each Rating Agency, the Trust Certificateholder, the Depositor, the Owner
Trustee and the Indenture Trustee with written notice of the substance of such amendment. No later
than 10 Business Days after the execution of any amendment to this 2011-A SUBI Servicing
Supplement, the Servicer shall furnish a copy of such amendment to each Rating Agency, the Trust
Certificateholder, Titling Trustee, the Delaware Trustee, the Indenture Trustee and the Owner
Trustee.

          (g) None of U.S. Bank, as trustee of NILT Trust and as Trust Agent, NILT, Inc., nor the
Indenture Trustee shall be under any obligation to ascertain whether a Rating

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Agency Condition has been satisfied with respect to any amendment. When the Rating Agency
Condition is satisfied with respect to such amendment, the Servicer shall deliver to a Responsible
Officer of U.S. Bank, NILT, Inc. and the Indenture Trustee an Officer’s Certificate to that effect,
and U.S. Bank. NILT, Inc. and the Indenture Trustee may conclusively rely upon the Officer’s
Certificate from the Servicer that a Rating Agency Condition has been satisfied with respect to
such amendment.

     Section 9.04 Relationship of this 2011-A Servicing Supplement to Other Trust
Documents. Unless the context otherwise requires, this 2011-A Servicing Supplement and the
other Trust Documents shall be interpreted so as to give full effect to all provisions hereof and
thereof. In the event of any actual conflict between the provisions of this 2011-A Servicing
Supplement and (i) the Titling Trust Agreement, with respect to the servicing of any Trust Assets,
the provisions of this 2011-A Servicing Supplement shall prevail and (ii) the Basic Servicing
Agreement, the provisions of this 2011-A Servicing Supplement shall control.

     Section 9.05 Binding Effect. The provisions of this 2011-A Servicing Supplement shall
be binding upon and inure to the benefit of the parties hereto and their permitted successors and
assigns, and all such provisions shall inure to the benefit of the Owner Trustee on behalf of the
Issuing Entity.

     Section 9.06 Table of Contents and Headings. The Table of Contents and Article and
Section headings herein are for convenience of reference only and shall not define or limit any of
the terms or provisions hereof.

     Section 9.07 Counterparts. This 2011-A Servicing Supplement 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 9.08 Further Assurances. Each party will do such acts, and execute and
deliver to any other party such additional documents or instruments, as may be reasonably requested
in order to effect the purposes of this 2011-A Servicing Supplement and to better assure and
confirm unto the requesting party its rights, powers, and remedies hereunder.

     Section 9.09 Third-Party Beneficiaries. The Issuing Entity, each Holder of the 2011-A
SUBI, each Related Beneficiary, and each Registered Pledgee shall be third-party beneficiaries of
the Servicing Agreement. Except as otherwise provided in the Servicing Agreement, no other Person
shall have any rights hereunder. For purposes of the Servicing Agreement, this Section replaces
Section 6.12 of the Basic Servicing Agreement in its entirety.

     Section 9.10 No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of any party hereto, any right, remedy, power, or privilege hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power,
or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power, or privilege. The rights, remedies, powers, and privileges herein provided
are cumulative and not exhaustive of any rights, remedies, powers, and privileges provided at law,
in equity or otherwise.

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     Section 9.11 No Petition. Each of the parties hereto, by entering into this 2011-A
Servicing Supplement, in addition to provisions of Section 6.14 of the Basic Servicing
Agreement, hereby 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 the Grantor, the
Depositor, the Titling Trustee, the Titling Trust, the Issuing Entity, any other Special Purpose
Affiliate or any Beneficiary, any bankruptcy, reorganization, arrangement, insolvency or
liquidation Proceeding or other Proceeding under any federal or state bankruptcy or similar law.
This Section shall survive the complete or partial termination of this 2011-A Servicing Supplement
and the complete or partial resignation or removal of the Servicer under the SUBI Trust Agreement,
the Basic Servicing Agreement or this 2011-A Servicing Supplement.

     Section 9.12 No Recourse.

          (a) It is expressly understood and agreed by the parties hereto that (i) 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, (ii) each of the
representations, undertakings, and agreements herein made on the part of 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, (iii) 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 (iv) 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.

          (b) It is expressly understood and agreed by the parties hereto that (i) this Agreement is
executed and delivered by NILT, Inc., not individually or personally, but solely as Titling Trustee
of Nissan-Infiniti LT, in the exercise of the powers and authority conferred and vested in it, (ii)
each of the representations, undertakings, and agreements herein made on the part of
Nissan-Infiniti LT, is made and intended not as personal representations, undertakings, and
agreements by NILT, Inc., but is made and intended for the purpose of binding only Nissan-Infiniti
LT, (iii) nothing herein contained shall be construed as creating any liability on NILT, Inc.,
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 (iv) under no circumstances shall NILT, Inc. be
personally liable for the payment of any indebtedness or expenses of Nissan-Infiniti LT under this
Agreement or any other related documents.

     Section 9.13 Notices. The notice provisions of Section 6.05 of the Basic
Servicing Agreement shall apply equally to this 2011-A Servicing Supplement. A copy of each notice
or other writing required to be delivered to the Servicer pursuant to the Servicing Agreement also
shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been
duly given or made when delivered by hand or, in the case of mail, email (if an email address is
provided) or facsimile notice, when actually received by the intended recipient, addressed to the
party to be notified, and sent to (i) the Owner Trustee at Wilmington Trust Company, Rodney

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Square North, 1100 North Market Street, Wilmington, Delaware 19890 (telecopier no. (302)
651-8882), Attention: Corporate Trust Administration; (ii) the Servicer at One Nissan Way,
Franklin, Tennessee 37067 (telecopier no. (615) 725-8530) (email: mike.robinson@nissan-usa.com and
matt.zimmerman@nissan-usa.com), Attention: Treasurer; (iii) the Trust Agent at 209 South LaSalle
Street, Suite 300, Chicago, Illinois 60604, Attention: NILT, Inc. (telecopier no. (312) 325-8905)
(email: patricia.child@usbank.com); or (iv) at such other address as shall be designated by any of
the foregoing in written notice to the other parties hereto; provided, however, any
demand, notice or communication hereunder to any Rating Agency shall be deemed to be delivered if a
copy of such demand, notice or communication has been posted on any web site maintained by NMAC
pursuant to a commitment to any Rating Agency relating to the Notes in accordance with 17 C.F.R.
240 17g-5(a)(3).

[Signature Pages to Follow]

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     IN WITNESS WHEREOF, the parties hereto have caused this 2011-A Servicing Supplement to be duly
executed by their respective officers duly authorized as of the day and year first above written.

NISSAN-INFINITI LT,

as Titling Trust

By:   NILT, INC.,

        as Titling Trustee

	 	 	 	 	 
	 	 	 
	 	By:  	

 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

NILT TRUST,

as Grantor and UTI Beneficiary

By:   U.S. BANK NATIONAL ASSOCIATION,

         as Trustee

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NISSAN MOTOR ACCEPTANCE
CORPORATION, as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

(NALT 2011-A SUBI Servicing Supplement)

S-1

 

EXHIBIT A

FORM OF SETTLEMENT STATEMENT

(See Attached)

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A-1

 

EXHIBIT B

FORM OF ANNUAL ERISA CERTIFICATION

(As required to be delivered on or before June 30 of each

calendar year beginning with June 30, 2012, pursuant to

Section 8.11 of the 2011-A Servicing Supplement)

NISSAN MOTOR ACCEPTANCE CORPORATION

 

NISSAN AUTO LEASE TRUST 2011-A

 

     The undersigned, duly authorized representative of Nissan Motor Acceptance Corporation
(“NMAC”), as Servicer, pursuant to the 2011-A SUBI Servicing Supplement to the Basic
Servicing Agreement dated as of July 25, 2011 (as amended and supplemented, or otherwise modified
and in effect from time to time, the “2011-A Servicing Supplement”), by and among
NISSAN-INFINITI LT, NMAC, as Servicer, and NILT TRUST, does hereby certify that:

     1. The undersigned is an Authorized Officer of NMAC.

     2. As of the end of NMAC’s preceding fiscal year, with respect to Employee Benefit
Plans:

(a) [Employee Benefit Plan assets exceed the present value of accrued
benefits][The present value of the accrued benefits exceeds plan assets]
under each of the Employee Benefit Plans as of the close of the most recent
Employee Benefit Plan year, as required to be reported in the financial
statements for such Employee Benefit Plan filed with the most recent Form
5500 for such Employee Benefit Plan (the “Most Recent Plan Financial
Statements”).

[Select from the following statements]

(b) [Neither NMAC nor any of its ERISA Affiliates (i) anticipates that the
value of the assets of any Employee Benefit Plan it maintains would not be
sufficient to cover any Funding Target; or (ii) is contemplating benefit
improvements with respect to any Employee Benefit Plan then maintained by
any such entity or the establishment of any new Employee Benefit Plan,
either of which would cause any such entity to maintain a Employee Benefit
Plan with a Funding Target in excess of plan assets. The term “Funding
Target” has the meaning set forth in section 430(d) of the Internal Revenue
Code.][Describe any failure of the certifications in clauses (i) and (ii) to
be true.]

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(c) [If all of the Employee Benefit Plans (other than a multiemployer
Employee Benefit Plan) were terminated (disregarding any Employee Benefit
Plans with surpluses), the unfunded liabilities at such date with respect to
such Employee Benefit Plans, their participants or beneficiaries, and the
Pension Benefit Guaranty Corporation, would not have exceeded [5%] of the
consolidated net worth of Nissan Motor Co., Ltd. or [25%] of the
consolidated net worth of Nissan North America, Inc. at such date.]

(d) [There are no unpaid minimum required contributions with respect to any
Employee Benefit Plan as disclosed on the Most Recent Plan Financial
Statements.]

(e) [Describe any facts that would cause the statements in clauses (b), (c)
or (d) to be incorrect.]

     Capitalized terms used but not defined herein are used as defined in the 2011-A Servicing
Supplement, and if not defined therein, as defined in the Agreement of Definitions, dated as of
July 25, 2011, among Nissan Auto Lease Trust 2011-A, NILT Trust, as grantor and UTI beneficiary,
Nissan-Infiniti LT, as the titling trust, NMAC, in its individual capacity, as Servicer and as
administrative agent, Nissan Auto Leasing LLC II, NILT, Inc., as the titling trustee, Wilmington
Trust Company, as Delaware trustee and owner trustee, and U.S. Bank, as trust agent, and Citibank,
as indenture trustee.

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     IN WITNESS WHEREOF, each of the undersigned has duly executed this Certificate this                      day
of                     .

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

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B-3

 

SCHEDULE A

REGULATION AB REPRESENTATIONS, WARRANTIES AND COVENANTS

PART I

DEFINED TERMS

     Section 1.01. As used in this Schedule A, the following terms shall have the following
meanings (such meanings to be equally applicable to both the singular and plural forms of the terms
defined); unless otherwise defined herein, terms used in this Schedule A that are defined in the
Agreement to which this Schedule A is attached shall have the same meanings herein as in the
Agreement:

     “Commission”: The United States Securities and Exchange Commission.

     “Regulation AB”: Subpart 229.1100 — Asset Backed Securities (Regulation AB), 17
C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such
clarification and interpretation as has been provided by the Commission in the adopting release
(Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7,
2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from
time to time.

     “Securities Act”: The Securities Act of 1933, as amended.

PART II

COMPLIANCE WITH REGULATION AB

     Section 2.01. Intent of the Parties; Reasonableness.

     Each of the Issuing Entity, the Indenture Trustee, the NILT Trust, NILT and the Servicer
acknowledges and agrees that the purpose of Part II of this Schedule A is to facilitate compliance
by the Issuing Entity and the Servicer with the provisions of Regulation AB and related rules and
regulations of the Commission.

     Each of the Issuing Entity, the Indenture Trustee, the NILT Trust, NILT and the Servicer
acknowledge that their respective obligations hereunder may be supplemented and modified as
reasonably necessary to be consistent with any amendments, interpretive advice or guidance,
convention or consensus among active participants in the asset-backed securities markets, in
respect of the requirements of Regulation AB. In addition, each of the Issuing Entity, the
Indenture Trustee, the NILT Trust, NILT and the Servicer shall comply with reasonable requests made
by the Issuing Entity for delivery of additional or different information as the Issuing Entity may
determine in good faith is necessary to comply with the provisions of Regulation AB, provided that
such information is available to such party without unreasonable effort or expense and within such
timeframe as may be reasonably requested.

(NALT 2011-A SUBI Servicing Supplement)

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