Document:

exv10w3

 

EXHIBIT
10.3

FORM OF 200[ ]-[ ] SUBI SUPPLEMENT

NILT TRUST,

as Grantor and UTI Beneficiary,

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

NILT, INC.,

as Trustee,

[WILMINGTON TRUST COMPANY],

as Delaware Trustee,

and

[U.S. BANK NATIONAL ASSOCIATION],

as Trust Agent

 

200[ ]-[ ] SUBI

SUPPLEMENT

Dated as of [                     ]

 

 

 

	 	 	 	 	 	 	 	 	 
	ARTICLE ELEVEN	 	DEFINITIONS	 	 	2	 
	 
	 	Section 11.01	 	Definitions	 	 	2	 
	 
	 	Section 11.02	 	Interpretive Provisions	 	 	2	 
	 
	 	Section 11.03	 	Rights in Respect of the 200[  ]-[  ] SUBI	 	 	3	 
	 
	ARTICLE TWELVE	 	CREATION OF THE 200[ ]-[ ] SUBI	 	 	3	 
	 
	 	Section 12.01	 	Creation of 200[  ]-[  ] SUBI Assets and the 200[  ]-[  ] SUBI	 	 	3	 
	 
	 	Section 12.02	 	Transfer of 200[  ]-[  ] SUBI Interests	 	 	3	 
	 
	 	Section 12.03	 	Issuance and Form of 200[  ]-[  ] SUBI Certificate	 	 	4	 
	 
	 	Section 12.04	 	Actions and Filings	 	 	6	 
	 
	 	Section 12.05	 	Termination of the 200[  ]-[  ] SUBI	 	 	6	 
	 
	 	Section 12.06	 	Representations and Warranties of Trustee	 	 	7	 
	 
	 	Section 12.07	 	Transfer and Assignment of Certificates	 	 	8	 
	 
	ARTICLE THIRTEEN	 	200[ ]-[ ] SUBI PLEDGE	 	 	8	 
	 
	 	Section 13.01	 	Registration of the 200[  ]-[  ] SUBI Pledge	 	 	8	 
	 
	ARTICLE FOURTEEN	 	200[ ]-[ ] SUBI ACCOUNTS	 	 	8	 
	 
	 	Section 14.01	 	200[  ]-[  ] SUBI Collection Account	 	 	8	 
	 
	 	Section 14.02	 	200[  ]-[  ] Reserve Account	 	 	9	 
	 
	 	Section 14.03	 	Investment of Monies in 200[  ]-[  ] SUBI Accounts	 	 	9	 
	 
	 	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	 	 	11	 
	 
	 	Section 15.03	 	Notices	 	 	11	 
	 
	 	Section 15.04	 	Severability of Provisions	 	 	11	 
	 
	 	Section 15.05	 	Effect of Supplement on Titling Trust Agreement	 	 	11	 
	 
	 	Section 15.06	 	No Petition	 	 	12	 
	 
	EXHIBITS	 	 	 	 	 	 
	 	 	Exhibit A  —  Schedule of 200[ ]-[ ] Leases and 200[ ]-[ ] Leased Vehicles	 	 	A-1	 
	 
	 	 	 	 	 	 	 	 
	 	 	Exhibit B  —  Form of 200[ ]-[ ] SUBI Certificate	 	 	B-1	 

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200[ ]-[ ] SUBI SUPPLEMENT

     This
200[ ]-[ ] SUBI Supplement, dated as of
[ ___ ] (as amended, supplemented or otherwise
modified from time to time, this “200[ ]-[ ] 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 (in such capacity, the
“Servicer”), NILT, Inc., a Delaware corporation, as trustee (the “Trustee”),
[Wilmington Trust Company], a Delaware banking corporation, as Delaware trustee (the “Delaware
Trustee”), and [U.S. Bank National Association], a national banking association (“[U.S.
Bank]”), as trust agent (in such capacity, 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 (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 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 200[ ]-[ ] SUBI Supplement, the “SUBI Trust Agreement”) to create a SUBI (the
“200[ ]-[ ] SUBI”);

     E. The parties hereto desire to identify and allocate to the 200[ ]-[ ] SUBI a separate
portfolio of Trust Assets consisting of leases (the “200[ ]-[ ] Leases”), the vehicles
that are leased under the 200[ ]-[ ] Leases (the “200[ ]-[ ] 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 200[ ]-[ ] SUBI (the “200[ ]-[ ] SUBI Certificate”).

     G. NILT Trust will transfer the 200[ ]-[ ] SUBI Certificate to Nissan Auto Leasing LLC II
(“NALL II”) pursuant to the SUBI Certificate
Transfer Agreement, dated as of [ ___ ] (the
“SUBI Certificate Transfer Agreement”), between NILT Trust and NALL II. NALL II will
further transfer the 200[ ]-[ ] SUBI Certificate to Nissan Auto Lease Trust 200[ ]-[ ] (the
“Issuing Entity”) pursuant to the Trust SUBI Certificate Transfer Agreement, dated as of [                    ]
(the “Trust SUBI Certificate Transfer Agreement”), between NALL II, as depositor (the
“Depositor”) and the Issuing Entity, as transferee.

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     H. Pursuant
to the Indenture, dated as of [___] (the “Indenture”), between the Issuing
Entity, and [U.S. Bank], as Indenture Trustee (the
“Indenture Trustee”), the Issuing Entity will (i) issue $[ ] aggregate principal amount of
[ ]% Asset Backed Notes, Class A-1 (the “Class A-1 Notes”), $[ ] aggregate principal amount
of [___]% Asset Backed Notes, Class A-2 (the “Class A-2 Notes”), $[___] aggregate principal
amount of [___]% Asset Backed Notes, Class A-3 (the “Class A-3 Notes”), $[___] aggregate
principal amount of [___]% Asset Backed Notes, Class A-4 (the “Class A-4 Notes,” and together
with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the “Notes”); and
(ii) pledge the 200[ ]-[ ] 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 200[ ]-[ ] 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 meanings ascribed thereto in the Agreement of Definitions, dated as of
[___], by and among 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”), NALL II, NILT, Inc., as Trustee, [Wilmington Trust Company],
as Delaware Trustee and owner trustee (in such capacity, the “Owner Trustee”) and [U.S.
Bank], as Trust Agent and Indenture Trustee.

     Section 11.02 Interpretive Provisions. For all purposes of this 200[ ]-[ ] 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 this 200[ ]-[ ] SUBI Supplement include all Exhibits hereto, (iii) references to
words such as “herein,” “hereof” and the like shall refer to this 200[ ]-[ ] SUBI Supplement as a
whole and not to any particular part, Article, or Section herein, (iv) references to an Article or
Section such as “Article Twelve” or “Section 12.01” shall refer to the applicable Article
or Section of this 200[ ]-[ ] SUBI Supplement, (v) the term “include” and all variations thereof
shall mean “include without limitation,” (vi) the term “or” shall include “and/or” and (vii) the
term “proceeds” shall have the meaning ascribed to such term in the UCC.

     Any reference in this 200[ ]-[ ] SUBI Supplement to any agreement means such agreement as it
may be amended, restated, supplemented (only to the extent such agreement as supplemented relates
to the Notes), or otherwise modified from time to time. Any reference in this 200[ ]-[ ] SUBI
Supplement to any law, statute, regulation, rule, or other legislative action shall mean such law,
statute, regulation, rule, or other legislative action as amended, supplemented, or otherwise
modified from time to time, and shall include any rule or regulation

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promulgated thereunder. Any reference in this 200[ ]-[ ] SUBI Supplement to a Person shall
include the successor or permitted assignee of such Person.

     Section 11.03 Rights in Respect of the 200[ ]-[ ] SUBI. Each Holder and Registered
Pledgee of the 200[ ]-[ ] SUBI Certificate (including the Issuing Entity) is a third-party
beneficiary of the SUBI Trust Agreement insofar as the Titling Trust Agreement and this 200[ ]-[
] SUBI Supplement apply to the 200[ ]-[ ] SUBI, the Holders of the 200[ ]-[ ] SUBI Certificate,
and the Registered Pledgees of the 200[ ]-[ ] 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 200[ ]-[ ] SUBI

     Section 12.01 Creation of 200[ ]-[ ] SUBI Assets and the 200[ ]-[ ] SUBI.

     (a) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
directs the Trustee to create, and the Trustee hereby creates, one Sub-Trust which shall be known
as the “200[ ]-[ ] SUBI”. The 200[ ]-[ ] SUBI shall represent a special unit of
beneficial interest solely in the 200[ ]-[ ] SUBI Assets.

     (b) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
hereby directs the Trustee to identify and allocate or to cause to be identified and allocated to
the 200[ ]-[ ] SUBI on the books and records of the Titling Trust a separate Sub-Trust of Trust
Assets consisting of 200[ ]-[ ] 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 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 “200[ ]-[ ] 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 200[ ]-[ ] Servicing Supplement, the Trustee
hereby identifies and allocates as 200[ ]-[ ] SUBI Assets the 200[ ]-[ ] Leases and 200[ ]-[
] Vehicles more particularly described on the Schedule of 200[ ]-[ ] Leases and 200[ ]-[ ]
Vehicles and the related Trust Assets described above, each such 200[ ]-[ ] SUBI Asset to be
identified on the books and accounts of the Titling Trust as being allocated to the 200[ ]-[ ]
SUBI.

     (c) The Titling Trust is hereby granted the power and authority and is authorized, and the
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 200[ ]-[ ] SUBI Interests.

     (a) Interests in the 200[ ]-[ ] 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

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effect herewith; provided, however, that the 200[ ]-[ ] SUBI Certificate and
the interests in the 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate to be transferred for registration of the
transfer at the corporate trust office of the Trustee (or the Trust Agent, if applicable),
accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed
by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon a new
200[ ]-[ ] SUBI Certificate of a like aggregate fractional undivided interest will be issued to
the designated permitted transferee.

     (b) For any transfer of the 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate (or any interest therein) 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 the 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. The 2007-A SUBI Certificate (or any interest therein) may not be
acquired by or on behalf of a governmental plan, foreign plan or any other plan that is subject to
any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the Code
(“Similar Law”) if the acquisition, holding and disposition of the 2007-A SUBI Certificate (or any
interest therein) would result in a nonexempt prohibited transaction under, or a violation of,
Similar Law.

     (d) Notwithstanding any other provision herein, no transfer or assignment of an interest in
the 200[ ]-[ ] SUBI 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 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.

     Section 12.03 Issuance and Form of 200[ ]-[ ] SUBI Certificate.

     (a) The 200[ ]-[ ] SUBI shall be represented by a 200[ ]-[ ] SUBI Certificate that shall
represent a 100% beneficial interest in the 200[ ]-[ ] SUBI and the 200[ ]-[ ] SUBI Assets, as
further set forth herein. The 200[ ]-[ ] SUBI Certificate shall, upon transfer to the

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Issuing Entity, be registered in the name of the Issuing Entity, representing the beneficial
interest in the 200[ ]-[ ] SUBI Assets allocated from the UTI. The Trustee shall register a
pledge of the 200[ ]-[ ] 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 200[ ]-[ ] SUBI
Certificate to the Indenture Trustee. The 200[ ]-[ ] SUBI Certificate shall be substantially in
the form of Exhibit B attached hereto, with such appropriate insertions, omissions, substitutions
and other variations as are required by this 200[ ]-[ ] 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 200[ ]-[ ] 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 Trustee
executing such 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate will bear a legend to the following effect:

     THIS 200[ ]-[ ] 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 200[ ]-[ ] SUBI CERTIFICATE, AGREES THAT THIS 200[
]-[ ] 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 200[ ]-[ ] 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 2007-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY
A GOVERNMENTAL PLAN, FOREIGN PLAN OR ANY OTHER PLAN THAT IS SUBJECT TO ANY APPLICABLE LAW THAT IS

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SUBSTANTIALLY SIMILAR TO TITLE I 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
2007-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) WILL NOT RESULT IN A NONEXEMPT PROHIBITED
TRANSACTION UNDER, OR A VIOLATION OF, SIMILAR LAW.

     The 200[ ]-[ ] 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 200[ ]-[
] SUBI Certificate and the interest in the 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate is mutilated and surrendered to the Trustee, or
the Trustee receives evidence to its satisfaction of the destruction, loss, or theft of the 200[
]-[ ] SUBI Certificate and (ii) there is delivered to the Trustee such security or indemnity as
may reasonably be required by it to hold the Issuing Entity and the Trustee, as applicable,
harmless, then the Trustee shall execute and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen 200[ ]-[ ] SUBI Certificate, a replacement 200[ ]-[ ] SUBI
Certificate. Every 200[ ]-[ ] SUBI Certificate issued pursuant to this Section 12.03(b)
in replacement of any mutilated, destroyed, lost, or stolen 200[ ]-[ ] SUBI Certificate shall
constitute an original additional contractual obligation of the Issuing Entity, whether or not the
mutilated, destroyed, lost, or stolen 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificates.

     Section 12.04 Actions and Filings. Each of the UTI Beneficiary and the 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 200[ ]-[ ] 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 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.

     Section 12.05 Termination of the 200[ ]-[ ] SUBI.

     (a) In connection with any purchase by the Servicer of the corpus of the Issuing Entity
pursuant to Article Nine of the Trust Agreement, the succession of the Servicer to the

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interest in the 200[ ]-[ ] SUBI represented by the 200[ ]-[ ] SUBI Certificate, or should
all of the interest in the 200[ ]-[ ] SUBI thereafter be held by the UTI Beneficiary or the
Holders of the UTI Certificates, whether by transfer, sale, or otherwise, then upon the direction
of such Holders, the 200[ ]-[ ] SUBI shall be terminated, the 200[ ]-[ ] SUBI Certificate shall
be returned to the Trustee and canceled, and the Servicer shall reallocate all 200[ ]-[ ] SUBI
Assets to the UTI.

     (b) So long as the Notes are Outstanding, the 200[ ]-[ ] SUBI shall not be dissolved unless
(a) required by law or (b) at the direction of the Holder of the 200[ ]-[ ] SUBI Certificate (but
only with the consent of the Registered Pledgee); provided, however, that upon the
sale of the Owner Trust Estate pursuant to Section 5.04 of the Indenture, this 200[ ]-[ ]
SUBI Supplement shall terminate and the 200[ ]-[ ] SUBI shall be terminated; provided
further, that such termination shall affect the Titling Trust only insofar as such
termination relates to the 200[ ]-[ ] SUBI. Such termination shall not entitle the legal
representatives of the 200[ ]-[ ] SUBI or any Holder of a 200[ ]-[ ] SUBI Certificate to take
any action for a partition or winding up of the Titling Trust or any Trust Assets except with
respect to the 200[ ]-[ ] SUBI Assets and the rights, obligations and Liabilities of the parties
hereto shall not otherwise be affected. In connection with the sale of the Owner Trust Estate
pursuant to Section 5.04 of the Indenture, the Registered Pledgee shall have the right to
direct the Holder of the 200[ ]-[ ] SUBI Certificate to dissolve the 200[ ]-[ ] SUBI in
accordance with the provisions of the Indenture, and the 200[ ]-[ ] SUBI Assets shall be
distributed out of the Titling Trust at the direction of the Holder of the 200[ ]-[ ] SUBI
Certificate acting in accordance with instructions from the Registered Pledgee and the purchaser
shall take delivery of such 200[ ]-[ ] SUBI Assets. The Trustee and the other parties hereto
shall cooperate with the Owner Trustee or the Trustee, as applicable, to cause the related 200[
]-[ ] Vehicles to be retitled as directed by the purchaser. The proceeds of such sale shall be
distributed in the following amounts and priority:

     (i) to the Indenture Trustee, all amounts required to be paid under
Section 6.07 of the Indenture, or to the Owner Trustee, all amounts required to be
paid under Section 8.01 of the Trust Agreement, as the case may be;

     (ii) to the Servicer, any Payment Date Advance Reimbursement;

     (iii) to the Servicer, amounts due in respect of unpaid Servicing Fees; and

     (iv) to the Certificate Distribution Account (or, if the Lien of the Indenture is
outstanding, the Note Distribution Account) to be distributed pursuant to Section
5.04(b) of the Indenture.

     Section 12.06 Representations and Warranties of Trustee. The 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 200[ ]-[ ] 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.

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     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 200[ ]-[ ] SUBI Certificate remains outstanding, each Supplement shall
contain a similar amendment with respect to such Section.

ARTICLE THIRTEEN

200[ ]-[ ] SUBI PLEDGE

     Section 13.01 Registration of the 200[ ]-[ ] 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 200[ ]-[ ]
SUBI Certificate together with all rights appurtenant thereto and proceeds thereof, to secure the
Notes. The Trustee hereby acknowledges such pledge, assignment, and grant of security interest, and
the Trustee agrees to cause the Indenture Trustee to be listed in the Certificate Register as the
Registered Pledgee of the 200[ ]-[ ] SUBI Certificate. The Issuing Entity has caused the Trustee
to deliver the 200[ ]-[ ] 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

200[ ]-[ ] SUBI ACCOUNTS

     Section 14.01 200[ ]-[ ] SUBI Collection Account.

     (a) With respect to the 200[ ]-[ ] SUBI, the Trustee, at the direction of the Servicer,
shall on or prior to the Closing Date establish, and the Trust Agent shall maintain, in the name of
the Trustee, for the exclusive benefit of the holders of interests in the 200[ ]-[ ] SUBI, the
200[ ]-[ ] SUBI Collection Account, which account shall constitute a SUBI Collection Account. The
200[ ]-[ ] SUBI Collection Account initially shall be established with [U.S. Bank], as Trust
Agent, so long as the Trust Agent has the Required Deposit Rating. If the Trust Agent at any time
does not have the Required Deposit Rating, the Servicer shall, with the assistance of the Trust
Agent, as necessary, cause such 200[ ]-[ ] SUBI Collection Account to be moved as described in
Section 4.02(a) of the Titling Trust Agreement. The 200[ ]-[ ] SUBI Collection Account
shall relate solely to the 200[ ]-[ ] SUBI and the 200[ ]-[ ] SUBI Assets, and funds therein
shall not be commingled with any other monies, except as otherwise provided for in, or

  SUBI Supplement

8

 

contemplated by, the SUBI Trust Agreement or in the Servicing Agreement. All deposits into the
200[ ]-[ ] 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
Trustee (acting through the Trust Agent) shall make deposits and withdrawals from the 200[ ]-[ ]
SUBI Collection Account as set forth in the 200[ ]-[ ] Servicing Supplement.

     (c) Any transfer of funds to a Holder of a 200[ ]-[ ] SUBI Certificate shall be made as
directed pursuant to the Basic Documents.

     Section 14.02 200[ ]-[ ] 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(b) of the
Indenture, Section 10.01 of the Indenture, Section 8.04 of the Servicing Agreement
and Section 14.03 of this 200[ ]-[ ] SUBI Supplement.

     Section 14.03 Investment of Monies in 200[ ]-[ ] SUBI Accounts. All amounts held in
the 200[ ]-[ ] 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 earnings on the 200[ ]-[ ] 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 200[ ]-[ ] SUBI Supplement, to the extent that it relates solely to the
200[ ]-[ ] SUBI, may be amended in accordance with this Section 15.01.

     (b) Any term or provision of this 200[ ]-[ ] 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

  SUBI Supplement

9

 

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 200[ ]-[
] 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 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) Not less than [15] days prior to the execution of any amendment to this 200[ ]-[ ] 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 200[ ]-[
] 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 200[ ]-[ ] SUBI Supplement, the Servicer
shall provide an Opinion of Counsel to the 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 National Association], 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

  SUBI Supplement

10

 

Responsible Officer of [U.S. Bank National Association] and the Indenture Trustee an Officer’s
Certificate to that effect, and [U.S. Bank National Association] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Supplement. A copy of each notice or
other writing required to be delivered to the Trustee pursuant to the SUBI Trust Agreement also
shall be delivered 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 BellSouth Tower, 333 Commerce Street,
10th Floor, B-10-C, Nashville, Tennessee 37201-1800 (telecopier no. (615) 725-1720),
Attention: Treasurer; (iii) the Trust Agent at 209 South LaSalle Street, Suite 300, Chicago,
Illinois 60604, Attention: NILT Inc. (telecopier no. (312) 325-8905); or (iv) at such other address
as shall be designated by any of the foregoing in written notice to the other parties hereto.

     Section 15.04 Severability of Provisions. If any one or more of the covenants,
agreements, provisions, or terms of this 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Supplement and
the Titling Trust Agreement in respect of the 200[ ]-[ ] SUBI, the provisions of this 200[ ]-[
] SUBI Supplement shall prevail with respect to the 200[ ]-[ ] SUBI only.

     (b) For purposes of determining the obligations of the parties hereto under this 200[ ]-[ ]
SUBI Supplement with respect to the 200[ ]-[ ] SUBI, except as otherwise indicated by the
context, general references in the Titling Trust Agreement to (i) a SUBI Account shall be

   SUBI Supplement

11

 

deemed to refer more specifically to a 200[ ]-[ ] SUBI Account, (ii) a SUBI shall be deemed
to refer more specifically to the 200[ ]-[ ] SUBI, (iii) a SUBI Collection Account shall be
deemed to refer more specifically to the 200[ ]-[ ] SUBI Collection Account, (iv) a SUBI Asset
shall be deemed to refer more specifically to a 200[ ]-[ ] SUBI Asset, (v) a SUBI Supplement
shall be deemed to refer more specifically to this 200[ ]-[ ] SUBI Supplement and (vi) a
Servicing Supplement shall be deemed to refer more specifically to the 200[ ]-[ ] Servicing
Supplement.

     Section 15.06 No Petition. Each of the parties hereto and each Holder of a 200[ ]-[
] SUBI Certificate, and each Registered Pledgee, by acceptance of a 200[ ]-[ ] 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 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 200[ ]-[ ] SUBI Supplement, the resignation or removal of the 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.

[Signature Pages to Follow]

  SUBI Supplement

12

 

     IN WITNESS WHEREOF, the Grantor and UTI Beneficiary, the Servicer, the 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 200[ ]-[ ] 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 Managing Trustee	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	Title:	 	 

	 	 	 	 	 
	 	NISSAN MOTOR ACCEPTANCE CORPORATION, as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NILT, INC., as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title 	 
	 

	 	 	 	 	 
	 	[WILMINGTON TRUST COMPANY], as Delaware Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

  SUBI Supplement

S-1

 

	 	 	 	 	 

	 	 	 	 	 
	 	[U.S. BANK NATIONAL ASSOCIATION], as Trust Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

  SUBI Supplement

S-2

 

	 	 	 	 	 

     Receipt of this original counterpart of this 200[ ]-[ ] SUBI Supplement is hereby
acknowledged on this ___ day of [                     ].

	 	 	 	 	 
	 	[U.S. BANK NATIONAL ASSOCIATION], as Indenture

Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

  SUBI Supplement

S-3

 

EXHIBIT A

SCHEDULE OF 200[ ]-[ ] LEASES AND 200[ ]-[ ] VEHICLES

  SUBI Supplement

A-1

 

EXHIBIT B

FORM OF 200[ ]-[ ] SUBI CERTIFICATE

     THIS 200[ ]-[ ] SUBI CERTIFICATE MAY NOT BE TRANSFERRED OR ASSIGNED
EXCEPT UPON THE TERMS AND SUBJECT TO THE CONDITIONS SPECIFIED HEREIN

NISSAN — INFINITI LT

200[ ]-[ ] SPECIAL UNIT OF BENEFICIAL INTEREST CERTIFICATE

evidencing a fractional undivided interest in the 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI CERTIFICATE, AGREES
THAT THIS 200[ ]-[ ] 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 200[ ]-[ ] 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 2007-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY
A GOVERNMENTAL PLAN, FOREIGN PLAN OR ANY OTHER PLAN THAT IS SUBJECT TO ANY APPLICABLE LAW THAT IS

  SUBI Supplement

B-1

 

SUBSTANTIALLY SIMILAR TO TITLE I 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
2007-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) WILL NOT RESULT IN A NONEXEMPT PROHIBITED
TRANSACTION UNDER, OR A VIOLATION OF, SIMILAR LAW.

No. R-___

evidencing a 100% interest in all 200[ ]-[ ] SUBI Assets (as defined below).

     This 200[ ]-[ ] 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 200[ ]-[ ] 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, as grantor and initial beneficiary
(in such capacities, the “Grantor” and the “UTI Beneficiary,” respectively), NILT,
Inc., as trustee (the “Trustee”), Nissan Motor Acceptance Corporation, as servicer (the
“Servicer”), [Wilmington Trust Company], as Delaware trustee (the “Delaware
Trustee”), and [U.S. Bank National Association], as trust agent (the “Trust Agent”).

     This certificate is a duly authorized 200[ ]-[ ] SUBI Certificate, and is issued under and
is subject to the terms, provisions and conditions of the Titling Trust Agreement and the 200[ ]-[
] SUBI Supplement thereto, dated as of [                     ] (the “200[ ]-[ ] 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 [                     ], by and among Nissan Auto Lease Trust 200[ ]-[ ], as issuer, (the “Issuing
Entity”) NILT Trust, as Grantor and UTI Beneficiary, the Titling Trust, Nissan Motor Acceptance
Corporation, in its individual capacity, as servicer and administrative agent, Nissan Auto Leasing
LLC II (the “Depositor”), NILT, Inc., as trustee to the Titling Trust, [Wilmington Trust Company],
as owner trustee and Delaware trustee, and [U.S. Bank National Association], as trust agent and
indenture trustee. By acceptance of this 200[ ]-[ ] 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 200[ ]-[ ] SUBI will generally consist of
(i) cash capital, (ii) the 200[ ]-[ ] Leases (iii) the 200[ ]-[ ] 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.

     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,

  SUBI Supplement

B-2

 

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 200[ ]-[ ]
SUBI Supplement and represents a 100% beneficial interest in the 200[ ]-[ ] SUBI Assets.

     The UTI and the 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate and the interest in the 200[ ]-[ ]
SUBI represented thereby constitutes a “security” within the meaning of Section 8-102(a)(15) of the
Delaware UCC and a “certificated security” within the meaning of Section 8-102(a)(4) of the
Delaware UCC.

     The 200[ ]-[ ] SUBI Supplement may be amended by the parties thereto upon the terms and
subject to the conditions set forth in the 200[ ]-[ ] SUBI Supplement.

     The Holder, by acceptance of this 200[ ]-[ ] 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 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 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 Trustee and to all of the Trust Assets other than those from time to time included within
the 200[ ]-[ ] SUBI as 200[ ]-[ ] SUBI Assets and those proceeds or assets derived from or
earned by such 200[ ]-[ ] 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 Trustee shall keep the certificate register with respect to this 200[ ]-[ ] SUBI
Certificate, and the Holder of this 200[ ]-[ ] SUBI Certificate shall notify the Trustee of any
change of address or instructions on the distribution of funds.

     The 200[ ]-[ ] SUBI shall be deemed dissolved solely with respect to the 200[ ]-[ ] SUBI
Assets, and not as to any Trust Assets allocated to any other Sub-Trust, upon the written direction
to the Trustee by the Holder of the 200[ ]-[ ] SUBI Certificate to revoke and dissolve the 200[
]-[ ] SUBI. So long as the Notes are outstanding, the 200[ ]-[ ] SUBI shall not be dissolved
except (a) as required by law or (b) at the direction of the Holder of the 200[ ]-[ ] SUBI
Certificate (but only with the consent of the Registered Pledgee); provided,
however, upon any sale of the Owner Trust Estate pursuant to Section 5.04 of the
Indenture, the Registered Pledgee shall have the right to direct the Holder of the 200[ ]-[ ]
SUBI Certificate to dissolve the 200[ ]-[ ] SUBI in accordance with the provisions of the
Indenture. Upon such dissolution of the Titling Trust with respect to the 200[ ]-[ ] SUBI and
delivery of the 200[ ]-[ ] SUBI

  SUBI Supplement

B-3

 

Certificate to the Trustee for cancellation, the Trustee shall distribute to the Holder of the
200[ ]-[ ] SUBI Certificate or its designee all 200[ ]-[ ] SUBI Assets and shall cause the
Certificates of Title to the 200[ ]-[ ] Vehicles to be issued in the name of, or at the direction
of, the Holder of the 200[ ]-[ ] SUBI Certificate (which may include reallocation of the 200[
]-[ ] SUBI Assets relating to the 200[ ]-[ ] Vehicles to the UTI). The Holder of the 200[ ]-[
] SUBI Certificate to whom such 200[ ]-[ ] SUBI Assets relating to the 200[ ]-[ ] Vehicles are
distributed shall pay or cause to be paid all applicable titling and registration fees and taxes.

     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 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificate shall have been executed by an authorized officer of
the Trustee, by manual signature, this 200[ ]-[ ] SUBI Certificate shall not entitle the holder
hereof to any benefit under the SUBI Trust Agreement or be valid for any purpose.

  SUBI Supplement

B-4

 

     IN WITNESS WHEREOF, NILT, Inc., as Trustee of the Titling Trust and not in its individual
capacity, has caused this 200[ ]-[ ] SUBI Certificate to be duly executed.

	 	 	 	 	 	 	 	 	 
	 

	 	Dated:                     , 200[ ]	 	 	 	 	 	 
	 	 	 	 	NISSAN-INFINITI LT	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	NILT, INC.,	 	 
	 

	 	 	 	 	 	as Trustee	 	 
	 

	 	(SEAL)	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	Title:	 	 
	 

	 	ATTEST:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 

	 	 	 	 	 	 	 	 

     This is the 200[ ]-[ ] SUBI Certificate referred to in the within-mentioned Supplement.

	 	 	 	 	 	 	 
	 	 	NILT, INC., as Trustee	 	 
	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Officer
	 	 

  SUBI Supplement

B-5

 

     FOR VALUE RECEIVED, the undersigned hereby sells, transfers and assigns unto                     
the within 200[ ]-[ ] SUBI Certificate, and all rights thereunder, hereby irrevocably
constituting and appointing                      as attorney to transfer said 200[ ]-[ ] SUBI
Certificate on the books of the certificate registrar, with full power of substitution in the
premises.

	 	 	 	 	 	 	 
	Dated:

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

  SUBI Supplement

B-6exv10w6

 

EXHIBIT
10.6

FORM OF 200[   ]-[   ] SERVICING SUPPLEMENT

 

NISSAN-INFINITI LT,

as Titling Trust,

NILT TRUST,

as UTI Beneficiary,

and

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

 

200[   ]-[    ]

SERVICING SUPPLEMENT

Dated as of [                      ]

 

 

 

 

	 	 	 	 	 
	ARTICLE
SEVEN   DEFINITIONS
	 	 	1	 
	Section 7.01 Definitions
	 	 	1	 
	Section 7.02 Interpretative Provisions
	 	 	2	 
	 
	 	 	 	 
	ARTICLE EIGHT  SERVICING OF THE 200[ ]-[ ] LEASES AND 200[ ]-[ ] VEHICLES
	 	 	2	 
	Section 8.01 Identification of 200[ ]-[ ] Leases and 200[ ]-[ ] Vehicles;
Securitization Value
	 	 	2	 
	Section 8.02 Reallocation and Repurchase of 200[ ]-[ ] Leases and 200[ ]-[ ]
Vehicles; Purchase of Matured Vehicles
	 	 	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
	 	 	7	 
	Section 8.10 Accountants’ Attestation and Other Reports
	 	 	7	 
	Section 8.11 Annual Servicer’s Compliance Statement; Officer’s Certificate
	 	 	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	 
	 
	 	 	 	 
	ARTICLE NINE  MISCELLANEOUS
	 	 	11	 
	Section 9.01 Termination of Servicing Supplement
	 	 	11	 
	Section 9.02 Governing Law
	 	 	11	 
	Section 9.03 Amendment
	 	 	11	 
	Section 9.04 Relationship of this 200[ ]-[ ] Servicing Supplement to Other Trust
Documents
	 	 	13	 
	Section 9.05 Binding Effect
	 	 	13	 
	Section 9.06 Table of Contents and Headings
	 	 	13	 
	Section 9.07 Counterparts
	 	 	13	 
	Section 9.08 Further Assurances
	 	 	13	 
	Section 9.09 Third-Party Beneficiaries
	 	 	13	 
	Section 9.10 No Waiver; Cumulative Remedies
	 	 	14	 
	Section 9.11 No Petition
	 	 	14	 
	Section 9.12 No Recourse
	 	 	14	 

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	EXHIBITS
	 	 	 	 
	Exhibit A — Schedule of 200[ ]-[ ] Leases and 200[ ]-[ ] Vehicles
	 	 	A-1	 
	Exhibit B — Form of Settlement Statement
	 	 	B-1	 
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	Schedule A —  Regulation AB Representations, Warranties and Covenants
	 	 	 	 

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FORM OF 200[ ]-[ ] SERVICING SUPPLEMENT

     This 200[   ]-[   ] Servicing Supplement, dated as of [                     ] (as amended,
supplemented or otherwise modified, this “200[   ]-[   ] 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 UTI Beneficiary, the Servicer, NILT, Inc., as trustee of the Titling Trust
(the “Trustee”), [Wilmington Trust Company], as Delaware trustee, and [U.S. Bank National
Association] (“[U.S. Bank]”), as 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
(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 200[   ]-[   ] SUBI
Supplement to the Titling Trust Agreement, dated as of [                      ] (the “200[  
]-[   ] 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
“200[   ]-[   ] 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 200[   ]-[   ] 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 meanings ascribed thereto in the Agreement of Definitions, dated as of [                
], by and among Nissan Auto Lease Trust 200[    ]-[   ], 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”), NILT, Inc., as
Trustee, [Wilmington Trust Company], as owner trustee and Delaware trustee (in such capacity, the
“Owner Trustee” and the “Delaware Trustee,” respectively) and [U.S. Bank], as trust
agent and indenture trustee (in such capacity, the “Trust Agent” and the “Indenture
Trustee,” respectively).

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     Section 7.02 Interpretative Provisions. For all purposes of this 200[   ]-[    ]
Servicing Supplement, except as otherwise expressly provided or unless the context otherwise
requires, (i) terms used in this 200[    ]-[    ] Servicing Supplement include, as appropriate, all
genders and the plural as well as the singular, (ii) references to this 200[   ]-[   ] Servicing
Supplement include all Exhibits hereto, (iii) references to words such as “herein”, “hereof”, and
the like shall refer to this 200[    ]-[   ] Servicing Supplement as a whole and not to any particular
part, Article, or Section herein, (iv) references to an Article or Section such as “Article Eight”
or “Section 8.01” shall refer to the applicable Article or Section of this 200[   ]-[   ] Servicing
Supplement, (v) the term “include” and all variations thereof shall mean “include without
limitation”, (vi) the term “or” shall include “and/or”, (vii) the term “proceeds” shall have the
meaning ascribed to such term in the UCC, (viii) 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” and (ix) the phrase “Trustee on behalf of the
Issuing Entity,” 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.

     Any reference in this 200[    ]-[    ] Servicing Supplement to any agreement means such agreement
as it may be amended, restated, supplemented (only to the extent such agreement as supplemented
relates to the Notes), or otherwise modified from time to time. Any reference in this 200[    ]-[   ]
Servicing Supplement to any law, statute, regulation, rule, or other legislative action shall mean
such law, statute, regulation, rule, or other legislative action as amended, supplemented, or
otherwise modified from time to time, and shall include any rule or regulation promulgated
thereunder. Any reference in this 200[   ]-[    ] Servicing Supplement to a Person shall include the
successor or assignee of such Person.

ARTICLE EIGHT

SERVICING OF THE 200[   ]-[    ] LEASES AND 200[    ]-[   ] VEHICLES

     Section 8.01 Identification of 200[    ]-[   ] Leases and 200[   ]-[   ] Vehicles;
Securitization Value. The Servicer hereby identifies as 200[    ]-[   ] SUBI Assets the Leased
Vehicles and the Leases relating to such Leased Vehicles more particularly described in the
Schedule of 200[    ]-[   ] Leases and 200[   ]-[   ] Vehicles (respectively, the “200[    ]-[   ]
Vehicles” and the “200[    ]-[   ] Leases”). The Servicer shall calculate the
Securitization Value for each 200[   ]-[    ] Lease as of the Cutoff Date.

     Section 8.02 Reallocation and Repurchase of 200[ ]-[ ] Leases and 200[ ]-[ ] Vehicles;
Purchase of Matured Vehicles.

     (a) (i) If the Servicer
grants a lease term extension of more than 6 months or an extension
that extends beyond the Final Scheduled Payment Date for the
Class A-[  ] Notes with respect to any 200[  
]-[   ] Lease, the Servicer shall, on the related Deposit Date, (A) deposit or cause to be
deposited into the 200[    ]-[   ] SUBI Collection Account an amount equal to the Repurchase Payment
and (B) direct the Trustee to either reallocate such 200[    ]-[    ] Lease and the related 200[   ]-[  
] Vehicle from the 200[    ]-[    ] SUBI to the UTI or cause such 200[    ]-[   ] Lease and 200[    ]-[   ]
Vehicle to be conveyed to the Servicer; and (ii) if a Lessee changes the domicile

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of or title to a 200[   ]-[    ] Vehicle and such change would be likely to result in the Titling
Trust doing business in a Restricted Jurisdiction, the Titling Trust, or the Trustee on behalf of
the Titling Trust, shall, as an obligation of the Titling Trust and at the direction of the
Servicer, on the related Deposit Date, (A) deposit or cause to be deposited into the 200[   ]-[   ]
SUBI Collection Account, from amounts held by the Titling Trust, an amount equal to the Repurchase
Payment and (B) either reallocate such 200[   ]-[   ] Lease and the related 200[   ]-[    ] Vehicle from
the 200[    ]-[   ] SUBI to the UTI or cause such 200[    ]-[    ] Lease and 200[   ]-[   ] 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 200[   ]-[    ] Lease and 200[   ]-[   ] Vehicle as of the Vehicle
Representation Date. The Servicer also hereby represents and warrants that (i) each 200[   ]-[   ]
Lease is an 200[    ]-[   ] Eligible Lease and (ii) it used no adverse selection procedures in
selecting any of the 200[    ]-[   ] Leases or any of the 200[    ]-[   ] Vehicles for allocation to the
200[    ]-[   ] SUBI. Upon discovery by the 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 200[    ]-[    ] Lease or 200[   ]-[   ] 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 200[  
]-[    ] 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 Trustee to either reallocate such
200[   ]-[   ] Lease and the related 200[    ]-[    ] Vehicle from the 200[    ]-[    ] SUBI to the UTI or
cause such 200[   ]-[   ] Lease and 200[    ]-[   ] Vehicle to be conveyed to the Servicer.

     (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 200[   ]-[   ] 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 200[   ]-[   ]
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 on the next Payment Date. Upon receipt of the Reallocation Payments, the
200[   ]-[   ] 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 200[   
]-[   ] 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 200[    ]-[   ] 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

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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.

     (e) If any 200[   ]-[    ] Lease and the related 200[    ]-[    ] 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 and the
Issuing Entity from and against any and all loss or liability with respect to or resulting from
such 200[   ]-[    ] Lease or 200[    ]-[    ] Vehicle (including the reasonable fees and expenses of
counsel).

     (f) Notwithstanding Section 2.11(a) of the Basic Servicing Agreement, the Servicer
shall use commercially reasonable efforts in accordance with its 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 8.03 Collections and Payment Date Advance Reimbursement.

     (a) The Servicer shall, with respect to SUBI Collections and amounts in respect of the 200[  
]-[    ] 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 200[   ]-[   ] 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 200[   ]-[   ] 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;

     (iii) on each Payment Date, pursuant to the related Payment Date Certificate, allocate
Available Funds on deposit in the 200[   ]-[    ] SUBI Collection Account with respect to the
related Collection Period and instruct the Trustee (acting through the Trust Agent) 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 200[    ]-[   ] 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 have been outstanding
as of the end of the Collection Period for at least 90 days (collectively, the
“Payment Date Advance Reimbursement”);

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     (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, such distributions in the amounts and order of priority as set
forth in Sections 8.04(a) 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 the close of business on the second Business Day after identification.

     (c) Notwithstanding Section 8.03d(b) hereof, the Servicer shall be permitted to retain
the amounts provided for in such Section received during a Collection Period until such amounts are
required to be disbursed on the next Payment Date, 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 “[P-1]” by Moody’s, “[A-1]” by Standard & Poor’s (in each case, so long
as Moody’s or Standard & Poor’s is a Rating Agency);

     (ii) if (A) the Servicer obtains a Servicer Letter of Credit or other form of
enhancement acceptable to the Rating Agencies under which demands for payment may be made to
secure timely remittance of SUBI Collections to the 200[   ]-[   ] SUBI Collection Account on
a monthly basis and (B) the Trustee and the Owner Trustee gives prior written notice to
each Rating Agency of the obtaining of such Servicer Letter of Credit;

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

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

     Pending deposit into the 200[   ]-[   ] 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.

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

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     Section 8.04 Net Deposits. Notwithstanding anything to the contrary contained in this
200[    ]-[    ] Servicing Supplement, for so long as NMAC is the Servicer, the Servicer shall be
permitted to deposit into the 200[   ]-[   ] SUBI Collection Account only the net amount
distributable to the Issuing Entity, as holder of the 200[    ]-[   ] SUBI Certificate on the related
Deposit Date. The Servicer shall, however, account to the Issuing Entity, the 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 200[    ]-[   ] SUBI Assets in the form of, among other things, Administrative Charges to the
extent not required for the payment of insurance premiums, taxes, or similar charges allocable to
the 200[   ]-[    ] Leases.

     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 200[   ]-[   ] 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 200[    ]-[    ] 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 200[    ]-[   ] Lease, and shall deposit the
Residual Value Surplus, if any, into the 200[    ]-[    ] SUBI Collection Account. If the Net Auction
Proceeds are less than the Securitization Value of the related 200[   ]-[    ] 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 90 days after it has made a Sales
Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance from the 200[   ]-[   ] SUBI
Collection Account. Within six months of receiving such reimbursement, if the related 200[   ]-[   ]
Vehicle has not been sold, the Servicer shall, if permitted by applicable law, cause such 200[    ]-[  
] Vehicle to be sold at auction and shall remit the proceeds associated with such auction sale to
the 200[   ]-[    ] SUBI Collection Account.

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     (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 200[   ]-[   ] Lease or 200[    ]-[    ]
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 200[   ]-[   ] 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 Trustee on
behalf of the Titling Trust or the Issuing Entity in an amount at least equal to $[     ] million
combined single limit per occurrence and excess coverage of at least $[      ] 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) in the case of Rated Securities, each Rating Agency has
received prior written notification from the Owner Trustee of such termination and any replacement
insurance. 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.

     Section 8.09 Reporting by the Servicer; Delivery of Certain Documentation.

     (a) On or prior to the Closing Date, and periodically thereafter as required in order to
update the contents thereof upon any changes in the matters certified therein, the Servicer shall
furnish to the Trustee and the Related Beneficiary an Officer’s Certificate listing the officers of
the Servicer involved in, or responsible for, the servicing of the 200[    ]-[    ] Leases.

     (b) 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 Trustee and each
Related Beneficiary a Settlement Statement for the immediately preceding Collection Period.

     Section 8.10 Accountants’ Attestation and Other Reports. On or before the last day of
the third month after the end of the fiscal year of the Servicer, beginning with [                     ], the Servicer shall cause a firm of independent certified public accountants, who may also
render other services to the Servicer or to its Affiliates, to deliver to the Issuing Entity, the
Indenture Trustee and each Rating Agency a report that such firm has audited the consolidated
financial statements of the Servicer in accordance with generally accepted auditing standards, that
such firm is independent of the Servicer within the meaning of the Code of Professional Ethics of
the

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American Institute of Certified Public Accountants (“AICPA”), and expressing such
firm’s opinion thereon. On or before the last day of the third month after the end of the fiscal
year of the Servicer, beginning with [  ], the Servicer shall cause a firm of independent certified public accountants
to render an attestation report 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 Issuing
Entity’s preceding fiscal year (or since the date of the issuance of the Notes in the case of the
first such statement). The form of attestation report may be replaced by any similar form using
any standards that are now or in the future in use by servicer of comparable assets or which
otherwise comply with any note, regulation, “no action” letter or similar guidelines promulgated by
the Commission.

     Section 8.11 Annual Servicer’s Compliance Statement; Officer’s Certificate

     (a) The Servicer shall 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 Issuing Entity, beginning [                      ], (i) 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 and (ii) 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 [                      ]), 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 of any such obligation, specifying each such
failure known to such officer and the nature and status thereof. 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.

     (b) On or before the last day of the third month after the end of the fiscal year of the
Servicer, beginning with [                      ], for as long as NMAC continues to act as the
Servicer, the Servicer shall deliver an Officer’s Certificate to each Rating Agency, the Owner
Trustee and the Indenture Trustee stating that, with respect to certain ERISA Plans maintained or
sponsored by the Servicer or any of the Servicer’s ERISA affiliates: (a) Plan assets will not be
materially less than the present value of accrued benefits under each of the Plans as of the close
of the most recent Plan year, as reported in the most recent plan financial statements; (b) neither
the Servicer nor any of its ERISA affiliates anticipates that the actuarial value of the assets of
any Plan it maintains would not be materially insufficient to cover the Gateway current liability
(as defined by the Code and demonstrated on the most recent Form 5500 Schedule B that has been
filed with the IRS), or is contemplating benefit improvements that would cause the Servicer or its
ERISA affiliates to maintain a Plan with materially underfunded Gateway current liability; (c) if
all of the Plans (other than a multiemployer Plan) were terminated (disregarding any Plans with
surpluses), the unfunded liabilities with respect to the Plans would have no material adverse
effect on Nissan Motor Co., Ltd. or Nissan North America, Inc.; and (d) no accumulated funding

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deficiency or waived funding deficiency as defined in section 412 of the Code or under any
multiemployer Plan or collective bargaining agreement exists and there is no failure to make any
required contribution under the minimum funding requirements of the Code, as of the close of the
most recent Plan year.

     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 200[   ]-[    ] 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
200[    ]-[   ] 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 (1) such failure
is capable of remedy within 90 days or less and (2) 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 200[   ]-[   ] SUBI Certificate or the holders
of the Notes, or the Trust Certificateholders, 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 (1) such failure is capable of remedy within 90 days or less and (2)
a Majority Interest in the applicable Securities consents to such longer cure period) after
receipt by the Servicer of written notice thereof from the 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

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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;

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 200[   ]-[   ] 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 200[   ]-[   ] 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 200[   ]-[   ] 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 200[   ]-[   ]
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 200[    ]-[   ] SUBI,
the Trustee, on behalf of the Titling Trust, shall, at the direction of the Required Related
Holders, by notice given to the Servicer, each Rating Agency, the Related Beneficiary and the
holders of the Rated Securities, terminate the rights and obligations of the Servicer under this
200[    ]-[   ] Servicing Supplement in accordance with such Section. In the event that the Servicer
is removed as servicer with respect to servicing the 200[    ]-[   ] SUBI Assets, subject to the
consent of the 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
Trustee. Such successor Servicer shall be approved by the Trustee, such approval not to be
unreasonably withheld. Notwithstanding the provisions of Section 4.01(e) of the Basic Trust
Agreement, with respect to any Servicer Default related to the 200[   ]-[   ] SUBI Assets, the
Trustee, acting on the direction of the Required Related Holders, may waive any default of the
Servicer in the

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performance of its obligations under the Servicing Agreement and its consequences with respect
to the 200[ ]-[ ] 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 200[ ]-[ ] SUBI Certificates), 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 Aggregate Certificate Balance has been
reduced to zero.

     (d) If the Servicer is removed with respect to servicing the 200[ ]-[ ] SUBI Assets, the
Servicer shall be entitled to reimbursement for any outstanding Advances made pursuant to this 200[
]-[ ] 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.

ARTICLE NINE

MISCELLANEOUS

     Section 9.01 Termination of Servicing Supplement. This 200[ ]-[ ] Servicing
Supplement shall terminate upon the earlier to occur of (i) the termination of the 200[ ]-[ ]
SUBI or (ii) the resignation or removal of the Servicer with respect to the 200[ ]-[ ] SUBI in
accordance with the terms of the Servicing Agreement. Any such termination hereunder shall effect a
termination only with respect to the 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] SUBI Servicing Supplement, to the

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extent that it relates solely to the 200[ ]-[ ] SUBI and the 200[ ]-[ ] SUBI Assets, may
be amended in accordance with this Section 9.03.

     (b) Any term or provision of this 200[ ]-[ ] SUBI 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 interests of the
Noteholders, and (ii) any amendment that 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 Opinion of Counsel is delivered to the 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 amendment.

     (d) Notwithstanding anything herein to the contrary, any term or provision of this 200[ ]-[
] SUBI 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.

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     (f) Not less than [15] days prior to the execution of any amendment to this 200[ ]-[ ] 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 200[
]-[ ] 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 National Association], 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 National Association], NILT, Inc, and the Indenture Trustee an Officer’s
Certificate to that effect, and [U.S. Bank National Association]. 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 200[ ]-[ ] Servicing Supplement to Other Trust
Documents. Unless the context otherwise requires, this 200[ ]-[ ] 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 200[ ]-[ ]
Servicing Supplement and (i) the Titling Trust Agreement, with respect to the servicing of any
Trust Assets, the provisions of this 200[ ]-[ ] Servicing Supplement shall prevail and (ii) the
Basic Servicing Agreement, the provisions of this 200[ ]-[ ] Servicing Supplement shall control.

     Section 9.05 Binding Effect. The provisions of this 200[ ]-[ ] 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 200[ ]-[ ] 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 200[ ]-[ ] 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 200[
]-[ ] 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

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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.

     Section 9.11 No Petition. Each of the parties hereto, by entering into this 200[ ]-[
] 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 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 200[ ]-[ ] Servicing Supplement and the
complete or partial resignation or removal of the Servicer under the SUBI Trust Agreement, the
Basic Servicing Agreement or this 200[ ]-[ ] 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

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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.

[Signature Page to Follow]

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     IN WITNESS WHEREOF, the parties hereto have caused this 200[ ]-[ ] 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 Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	
 
	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	NILT TRUST, as UTI Beneficiary	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	[U.S. BANK NATIONAL ASSOCIATION],	 	 
	 

	 	 	 	as Managing Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	
 
	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	NISSAN MOTOR ACCEPTANCE	 	 
	 	 	CORPORATION, as Servicer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

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EXHIBIT A

SCHEDULE OF 200[ ]-[ ] LEASES AND 200[ ]-[ ] VEHICLES

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\

EXHIBIT B

FORM OF SETTLEMENT STATEMENT

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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, 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, 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, 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.

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