Document:

EX-10.8

 Exhibit 10.8 

EXECUTION COPY 
 ASSET
REPRESENTATIONS REVIEW AGREEMENT 
 among 

NISSAN AUTO LEASE TRUST 2016-B, 

as Issuer 
 NISSAN MOTOR ACCEPTANCE
CORPORATION, 
 as Sponsor and Servicer 

and 
 CLAYTON FIXED INCOME
SERVICES LLC, 
 as Asset Representations Reviewer 

Dated as of September 21, 2016 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	 USAGE AND DEFINITIONS
	  	 	1	  
			
	 Section 1.1.
	 	 Usage and Definitions
	  	 	1	  
			
	 Section 1.2.
	 	 Additional Definitions
	  	 	2	  
			
	 ARTICLE II
	 	 ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER
	  	 	3	  
			
	 Section 2.1.
	 	 Engagement; Acceptance
	  	 	3	  
			
	 Section 2.2.
	 	 Confirmation of Scope
	  	 	3	  
			
	 ARTICLE III
	 	 ASSET REPRESENTATIONS REVIEW PROCESS
	  	 	3	  
			
	 Section 3.1.
	 	 Review Notices
	  	 	3	  
			
	 Section 3.2.
	 	 Identification of Subject Leases
	  	 	3	  
			
	 Section 3.3.
	 	 Review Materials
	  	 	3	  
			
	 Section 3.4.
	 	 Performance of Reviews
	  	 	4	  
			
	 Section 3.5.
	 	 Review Reports
	  	 	4	  
			
	 Section 3.6.
	 	 Dispute Resolution
	  	 	5	  
			
	 Section 3.7.
	 	 Limitations on Review Obligations
	  	 	5	  
			
	 ARTICLE IV
	 	 ASSET REPRESENTATIONS REVIEWER
	  	 	6	  
			
	 Section 4.1.
	 	 Representations and Warranties
	  	 	6	  
			
	 Section 4.2.
	 	 Covenants
	  	 	7	  
			
	 Section 4.3.
	 	 Fees, Expenses and Indemnities
	  	 	7	  
			
	 Section 4.4.
	 	 Limitation on Liability
	  	 	8	  
			
	 Section 4.5.
	 	 Indemnification by Asset Representations Reviewer
	  	 	8	  
			
	 Section 4.6.
	 	 Inspections of Asset Representations Reviewer
	  	 	9	  
			
	 Section 4.7.
	 	 Delegation of Obligations
	  	 	9	  
			
	 Section 4.8.
	 	 Confidential Information
	  	 	9	  
			
	 Section 4.9.
	 	 Personally Identifiable Information
	  	 	11	  
			
	 ARTICLE V
	 	 RESIGNATION AND REMOVAL; SUCCESSOR ASSET REPRESENTATIONS REVIEWER
	  	 	13	  
			
	 Section 5.1.
	 	 Eligibility Requirements for Asset Representations Reviewer
	  	 	13	  
			
	 Section 5.2.
	 	 Resignation and Removal of Asset Representations Reviewer
	  	 	13	  
			
	 Section 5.3.
	 	 Successor Asset Representations Reviewer
	  	 	14	  
			
	 Section 5.4.
	 	 Merger, Consolidation or Succession
	  	 	14	  

  

					
		  	  i	  	

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 ARTICLE VI
	 	 OTHER AGREEMENTS
	  	 	14	  
			
	 Section 6.1.
	 	 Independence of Asset Representations Reviewer
	  	 	14	  
			
	 Section 6.2.
	 	 No Petition
	  	 	15	  
			
	 Section 6.3.
	 	 Limitation of Liability of Owner Trustee
	  	 	15	  
			
	 Section 6.4.
	 	 Termination of Agreement
	  	 	15	  
			
	 ARTICLE VII
	 	 MISCELLANEOUS PROVISIONS
	  	 	15	  
			
	 Section 7.1.
	 	 Amendments
	  	 	15	  
			
	 Section 7.2.
	 	 Notices
	  	 	16	  
			
	 Section 7.3.
	 	 Limitations on Rights of Others
	  	 	17	  
			
	 Section 7.4.
	 	 Severability
	  	 	17	  
			
	 Section 7.5.
	 	 Separate Counterparts
	  	 	17	  
			
	 Section 7.6.
	 	 Headings
	  	 	17	  
			
	 Section 7.7.
	 	 Governing Law
	  	 	17	  
			
	 Section 7.8.
	 	 Waivers
	  	 	17	  
			
	 Schedule A
	 	 Representations and Warranties, Review Materials and Tests
	  	 	A-1	  

  

					
		  	  ii	  	

 ASSET REPRESENTATIONS REVIEW AGREEMENT, dated as of September 21, 2016 (this
“Agreement”), among NISSAN AUTO LEASE TRUST 2016-B, a Delaware statutory trust, as Issuer (the “Issuer”), NISSAN MOTOR ACCEPTANCE CORPORATION, a California Corporation (“NMAC”), as Sponsor and
Servicer, and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer (the “Asset Representations Reviewer”). 

BACKGROUND 
 WHEREAS, in the
regular course of business, motor vehicle dealers in the NMAC network of dealers assign certain retail closed-end motor vehicle lease contracts to Nissan-Infiniti LT, as titling trust (the “Titling Trust”). 

WHEREAS, in connection with a securitization transaction sponsored by NMAC, the Titling Trust established a special unit of beneficial
interest (the “SUBI”) and allocated to the SUBI certain leases and related leased vehicles owned by the Titling Trust, which are represented by a SUBI certificate representing a beneficial interest in that SUBI (the “SUBI
Certificate”). 
 WHEREAS, the Titling Trust issued the 2016-B SUBI Certificate to NILT Trust, as UTI Beneficiary, and NILT Trust
sold the 2016-B SUBI Certificate to Nissan Auto Leasing LLC II (the “Depositor”), which in turn resold the SUBI Certificate to the Issuer pursuant to a Trust SUBI Certificate Transfer Agreement, in exchange for the notes and
certificates issued by the Issuer. 
 WHEREAS, the Issuer has granted a security interest in the 2016-B SUBI Certificate to the Indenture
Trustee, for the benefit of the Holders of Notes, as security for the Notes issued by the Issuer under the Indenture. 
 WHEREAS, the Issuer
desires to engage the Asset Representations Reviewer to perform reviews of certain Leases for compliance with the representations and warranties made by NMAC and the Depositor about the Leases in the pool. 

NOW, THEREFORE, in consideration of the foregoing, other good and valuable consideration, and the mutual terms and conditions contained
herein, the parties hereto agree as follows. 
 ARTICLE I 

USAGE AND DEFINITIONS 

Section 1.1. Usage and Definitions. Except as otherwise specified herein or if the context may otherwise require, capitalized
terms not defined in this Agreement shall have the respective meanings assigned such terms set forth in the Agreement of Definitions, dated as of the date hereof (the “Agreement of Definitions”), by and among NMAC, the Titling
Trust, NILT, Inc., as titling trustee (the “Titling Trustee”), NILT Trust, as grantor (the “Grantor”), the Depositor, the Issuer, Wilmington Trust, National Association, as owner trustee (the “Owner
Trustee”) and U.S. Bank National Association, as trust agent (the “Trust Agent”). 

 With respect to all terms in this Agreement, the singular includes the plural and the plural the
singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of reproducing words in a visible form; references to agreements and other contractual
instruments include all subsequent amendments, amendments and restatements, and supplements thereto or changes therein entered into in accordance with their respective terms and not prohibited by this Agreement; references to Persons include their
permitted successors and assigns; references to laws include their amendments and supplements, the rules and regulations thereunder and any successors thereto; the term “including” means “including without limitation;” and the
term “or” is not exclusive. 
 Section 1.2. Additional Definitions. The following terms have the meanings given below:

 “Asset Review” means the performance by the Asset Representations Reviewer of the testing procedures for each Test and
each Subject Lease according to Section 3.4. 
 “Confidential Information” has the meaning stated in
Section 4.8(b). 
 “Information Recipients” has the meaning stated in Section 4.8(a). 

“Issuer PII” has the meaning stated in Section 4.9(a). 

“Personally Identifiable Information” or “PII” has the meaning stated in Section 4.9(a). 

“Review Fee” has the meaning stated in Section 4.3(b). 

“Review Materials” means, for an Asset Review and a Subject Lease , the documents and other materials for each Test listed
under “Review Materials” in Schedule A. 
 “Review Report” means, for an Asset Review, the report of the
Asset Representations Reviewer prepared according to Section 3.5. 
 “Test” has the meaning stated in
Section 3.4(a). 
 “Test Complete” has the meaning stated in Section 3.4(c). 

“Test Fail” has the meaning stated in Section 3.4(a). 

“Test Pass” has the meaning stated in Section 3.4(a). 

“Underwriter” means, any of Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, HSBC
Securities (USA) Inc., Lloyds Securities Inc., Scotia Capital (USA) Inc., SG Americas Securities, LLC and TD Securities (USA) LLC, in its capacity as underwriter or representative of the underwriters pursuant to the underwriting agreement, dated as
of September 13, 2016, between the Citigroup Global Markets Inc., NMAC and the Depositor. 

  

					
		 	2	 	

 ARTICLE II 

ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER 

Section 2.1. Engagement; Acceptance. The Issuer engages Clayton Fixed Income Services LLC to act as the Asset Representations
Reviewer for the Issuer. Clayton Fixed Income Services LLC accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms in this Agreement. 

Section 2.2. Confirmation of Scope. The parties confirm that the Asset Representations Reviewer is not responsible for
(a) reviewing the Leases for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement, or (b) determining whether noncompliance with the representations or warranties
constitutes a breach of the Transaction Documents. 
 ARTICLE III 

ASSET REPRESENTATIONS REVIEW PROCESS 

Section 3.1. Review Notices. On receipt of a Review Notice from the Indenture Trustee according to Section 7.08 of the
Indenture, the Asset Representations Reviewer will start an Asset Review. The Asset Representations Reviewer will have no obligation to start an Asset Review until a Review Notice is received. 

Section 3.2. Identification of Subject Leases. Within ten (10) Business Days after receipt of a Review Notice, the Servicer
will deliver to the Asset Representations Reviewer, with a copy to the Indenture Trustee, a list of the Subject Leases. 
 Section 3.3.
Review Materials. 
 (a) Access to Review Materials. The Servicer will render reasonable assistance to the Asset
Representations Reviewer to facilitate the Asset Review. The Servicer will give the Asset Representations Reviewer access to the Review Materials for all of the Subject Leases within ten (10) days after receipt of the Review Notice in one or
more of the following ways in the Servicer’s reasonable discretion: (i) by providing access to the Servicer’s lease systems, either remotely or at one of the properties of the Servicer, (ii) by electronic posting of Review
Materials to a password-protected website to which the Asset Representations Reviewer has access, (iii) by providing originals or photocopies at one of the properties of the Servicer where the Lease Documents are located or (iv) in another
manner agreed by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove PII from the Review Materials so long as all information in the Review Materials necessary for the Asset Representations Reviewer to complete the
Asset Review remains intact and unchanged. 
 (b) Missing or Insufficient Review Materials. If any of the Review Materials are
missing or insufficient for the Asset Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than 20 days before completing the Review, and the Servicer will have
15 days to provide the Asset Representations Reviewer access to such missing Review Materials or other documents or information to correct the insufficiency. If the missing or insufficient Review Materials have not been provided by the Servicer
within 15 days, the parties agree that the Subject Lease will have a Test Fail for the related Test(s) and the Test(s) will be considered a Test Complete and the Review Report will indicate the reason for the Test Fail. 

  

					
		 	3	 	

 Section 3.4. Performance of Reviews. 

(a) Test Procedures. For an Asset Review, the Asset Representations Reviewer will perform for each Subject Lease the procedures listed
under “Tests” in Schedule A for each representation and warranty (each, a “Test”), using the Review Materials listed for each such Test in Schedule A. For each Test and Subject Lease, the Asset
Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”). 

(b) Review Period. The Asset Representations Reviewer will complete the Review of all of the Subject Leases within sixty (60) days
after receiving access to the Review Materials under Section 3.3(a). However, if additional Review Materials are provided to the Asset Representations Reviewer under Section 3.3(b), the Review period will be extended for an
additional thirty (30) days. 
 (c) Completion of Review for Certain Subject Leases. Following the delivery of the list of the
Subject Leases and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Lease is pre-paid in full by the Obligor or reallocated from the SUBI by the
Servicer according to the Basic Documents. On receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Leases and the Review of such Leases will be considered complete (a “Test Complete”).
In this case, the Review Report will indicate a Test Complete for the Leases and the related reason. 
 (d) Previously Reviewed
Lease. If any Subject Lease was included in a prior Asset Review (the “Prior Review”), the Asset Representations Reviewer will perform Tests on such Subject Lease only if the Asset Representations Reviewer has reason to believe
that the Prior Review was conducted in a manner that would not have ascertained compliance with one or more of the representations and warranties set forth on Schedule A hereto; otherwise, the Asset Representations Reviewer will include in
the Review Report for the Asset Review the results of the Tests with respect to such Subject Lease from the Prior Review. 
 (e)
Termination of Review. If an Asset Review is in process and the Notes will be paid in full on the next Payment Date, the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten (10) days before
that Payment Date. On receipt of notice, the Asset Representations Reviewer will terminate the Asset Review immediately and will have no obligation to deliver a Review Report. 

Section 3.5. Review Reports. (a) Within five (5) days after the end of the Asset Review period under
Section 3.4(b), the Asset Representations Reviewer will deliver to the Issuer, the Servicer and the Indenture Trustee a Review Report indicating for each Subject Lease whether there was a Test Pass or a Test Fail for each Test, or
whether the Subject Lease was a Test Complete and the related reason. The Review Report will contain a summary of the findings and conclusions of the Asset Representations Reviewer with respect to the Asset

  

					
		 	4	 	

 
Review to be included in the Issuer’s Form 10-D report for the Collection Period in which the Review Report is received. The Asset Representations Reviewer will ensure that the Review Report
does not contain any Issuer PII. 
 (b) Questions About Review. The Asset Representations Reviewer will make appropriate personnel
available to respond in writing to written questions or requests for clarification of any Review Report from the Indenture Trustee or the Servicer until the earlier of (i) payment in full of the Notes and (ii) one year after the delivery
of the Review Report. The Asset Representations Reviewer will have no obligation to respond to questions or requests for clarification from Noteholders or any Person other than the Indenture Trustee or the Servicer and will direct such Persons to
submit written questions or requests to the Servicer. 
 Section 3.6. Dispute Resolution. If a Lease that was reviewed by the
Asset Representations Reviewer is the subject of a dispute resolution proceeding under Section 7.07 of the Indenture, the Asset Representations Reviewer will participate in the dispute resolution proceeding on request of a party to the
proceeding. The reasonable out-of-pocket expenses of the Asset Representations Reviewer together with reasonable compensation for the time it incurs in connection with its participation in any dispute resolution proceeding will be considered
expenses of the Requesting Party for the dispute resolution and will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to Section 7.07 of the Indenture. If not
paid by a party to the dispute resolution, the expenses will be reimbursed by the Issuer according to Section 4.3(a). 

Section 3.7. Limitations on Review Obligations. 

(a) Review Process Limitations. The Asset Representations Reviewer will have no obligation: 

(i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to
direct an Asset Review under the Indenture, and may rely on the information in any Review Notice delivered by the Indenture Trustee; 

(ii) to determine which Leases are subject to an Asset Review, and may rely on the lists of Subject Leases provided by the
Servicer; 
 (iii) to obtain or confirm the validity of the Review Materials and no liability for any errors in the Review
Materials and may rely on the accuracy and completeness of the Review Materials; 
 (iv) to obtain missing or insufficient
Review Materials from any party or any other source; 
 (v) to take any action or cause any other party to take any action
under any of the Basic Documents or otherwise to enforce any remedies against any Person for breaches of representations or warranties about the Subject Leases; or 

(vi) to establish cause, materiality or recourse for any failed Test. 

  

					
		 	5	 	

 (b) Testing Procedure Limitations. The Asset Representations Reviewer will only be
required to perform the testing procedures listed under “Tests” in Schedule A, and will have no obligation to perform additional procedures on any Subject Lease or to provide any information other than a Review Report indicating for
each Subject Lease whether there was a Test Pass or a Test Fail for each Test, or whether the Subject Lease was a Test Complete and the related reason. However, the Asset Representations Reviewer may provide additional information about any Subject
Lease that it determines in good faith to be material to the Review. 
 ARTICLE IV 

ASSET REPRESENTATIONS REVIEWER 

Section 4.1. Representations and Warranties. The Asset Representations Reviewer represents and warrants to the Issuer as of the
Closing Date: 
 (a) Organization and Qualification. The Asset Representations Reviewer is duly organized and validly existing as a
limited liability company in good standing under the laws of Delaware. The Asset Representations Reviewer is qualified as a foreign limited liability company in good standing and has obtained all necessary licenses and approvals in all jurisdictions
in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval, unless the failure to obtain the qualifications, licenses or approvals would not reasonably be expected to have a
material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 
 (b)
Power, Authority and Enforceability. The Asset Representations Reviewer has the power and authority to execute, deliver and perform its obligations under this Agreement. The Asset Representations Reviewer has authorized the execution,
delivery and performance of this Agreement. This Agreement is the legal, valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations Reviewer, except as may be limited by insolvency, bankruptcy,
reorganization or other laws relating to the enforcement of creditors’ rights or by general equitable principles. 
 (c) No
Conflicts and No Violation. The completion of the transactions contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (A) conflict with, or be a breach or
default under, any indenture, agreement, guarantee or similar agreement or instrument under which the Asset Representations Reviewer is a party, (B) result in the creation or imposition of any Lien on any of the assets of the Asset
Representations Reviewer under the terms of any indenture, agreement, guarantee or similar agreement or instrument, (C) violate the organizational documents of the Asset Representations Reviewer or (D) violate any law or, to the Asset
Representations Reviewer’s knowledge, any order, rule or regulation of a federal or State court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer that
applies to the Asset Representations Reviewer, which, in each case, would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

(d) No Proceedings. To the Asset Representations Reviewer’s knowledge, there are no proceedings or investigations pending or
threatened in writing before a federal or State court, 

  

					
		 	6	 	

 
regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its properties (A) asserting the invalidity of
this Agreement, (B) seeking to prevent the completion of the transactions contemplated by this Agreement or (C) seeking any determination or ruling that would reasonably be expected to have a material adverse effect on the Asset
Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement. 
 (e)
Eligibility. The Asset Representations Reviewer meets the eligibility requirements in Section 5.1. 
 Section 4.2.
Covenants. The Asset Representations Reviewer covenants and agrees that: 
 (a) Eligibility. It will notify the Issuer and the
Servicer promptly if it no longer meets the eligibility requirements in Section 5.1. 
 (b) Review Systems; Personnel. It
will maintain business process management and/or other systems necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that these
systems allow for each Subject Lease and the related Review Materials to be individually tracked and stored as contemplated by this Agreement. The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Asset
Reviews as required by this Agreement. 
 (c) Maintenance of Review Materials. It will maintain copies of any Review Materials,
Review Reports and other documents relating to an Asset Review, including internal correspondence and work papers, for a period of two (2) years after the termination of this Agreement. 

Section 4.3. Fees, Expenses and Indemnities. 

(a) Annual Fee. The Sponsor shall pay to the Asset Representations Reviewer, as reasonable compensation for its services, an annual fee
in the amount of $7,500 (the “Annual Fee”). The Annual Fee shall be payable on the Closing Date and on each anniversary thereof until this Agreement is terminated in accordance with Section 6.4. The Sponsor shall
reimburse the Asset Representations Reviewer for all reasonable out-of-pocket expenses incurred or made by it, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and
advances of the Asset Representations Reviewer’s agents, counsel, accountants and experts. 
 (b) Review Fee. Following the
completion of an Asset Review and the delivery to the Indenture Trustee of the Review Report, or the termination of an Asset Review according to Section 3.4(e), and the delivery to the Sponsor and the Servicer of a detailed invoice, the
Sponsor shall pay to the Asset Representations Reviewer a fee of $200 for each Subject Lease for which the Asset Review was started (the “Review Fee”). However, no Review Fee will be charged for any Subject Lease which was included
in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.4(e). To the extent not paid by the Sponsor and
outstanding for at least 60 days, the Review Fee shall be paid by the Issuer pursuant to Section 8.04 of the Indenture. 

  

					
		 	7	 	

 (c) Indemnification. The Sponsor shall indemnify the Asset Representations Reviewer
against any and all loss, liability or expense (including reasonable attorneys’ fees) incurred by the Asset Representations Reviewer in connection with the administration of this Agreement and the performance of its duties hereunder. The Asset
Representations Reviewer shall notify the Sponsor promptly of any claim for which it may seek indemnity. Failure by the Asset Representations Reviewer to so notify the Sponsor shall not relieve the Sponsor of its obligations hereunder. The Sponsor
shall defend any such claim, and the Asset Representations Reviewer may have separate counsel and the Sponsor shall pay the fees and expenses of such counsel. The Sponsor shall not reimburse any expense or indemnify against any loss, liability or
expense incurred by the Asset Representations Reviewer through the Asset Representations Reviewer’s own bad faith, willful misfeasance, negligence in performing its obligations under this Agreement or breach of this Agreement. The
indemnification provided in this Section 4.3(c) shall survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations Reviewer. The Sponsor acknowledges and agrees that
amounts owing to the Asset Representations Reviewer in respect of the indemnification provided hereunder shall not be limited to or reduced by the amount of Available Amounts on deposit in the Collection Account, except to the extent that such
Available Amounts have been allocated to make a payment to the Asset Representations Reviewer on the next-occurring Payment Date pursuant to Section 8.04 of the Indenture. 

(d) Payment of Fees and Indemnities. The Asset Representations Reviewer shall submit reasonably detailed invoices to the Sponsor for
any amounts owed to it under this Agreement. To the extent not paid by the Sponsor and outstanding for at least 60 days, the fees and indemnities provided for in this Section 4.3 shall be paid by the Issuer pursuant to
Section 8.04 of the Indenture; provided, that prior to such payment pursuant to the Indenture, the Asset Representations Reviewer shall notify the Sponsor in writing that such fees and indemnities have been outstanding for at least 60
days. If such fees and indemnities are paid pursuant to Section 8.04 of the Indenture, the Sponsor shall reimburse the Issuer in full for such payments. 

Section 4.4. Limitation on Liability. The Asset Representations Reviewer will not be liable to any Person for any action taken, or
not taken, in good faith under this Agreement or for errors in judgment. However, the Asset Representations Reviewer will be liable for its willful misfeasance, bad faith, or negligence in performing its obligations under this Agreement. In no event
will the Asset Representations Reviewer be liable for special, indirect or consequential losses or damages (including lost profit), even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of
the form of action. 
 Section 4.5. Indemnification by Asset Representations Reviewer. The Asset Representations Reviewer will
indemnify each of the Issuer, the Depositor, the Servicer, the Sponsor, the Owner Trustee and the Indenture Trustee and their respective directors, officers, employees and agents for all costs, expenses (including reasonable attorneys’ fees and
expenses), losses, damages and liabilities, including legal fees and expenses incurred in connection with the enforcement by such Person of an indemnification or other obligation of the Asset Representations Reviewer, resulting from (a) the
willful misconduct, bad faith or negligence of 

  

					
		 	8	 	

 
the Asset Representations Reviewer in performing its obligations under this Agreement or (b) the Asset Representations Reviewer’s breach of any of its representations or warranties in
this Agreement. The Asset Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations
Reviewer. 
 Section 4.6. Inspections of Asset Representations Reviewer. The Asset Representations Reviewer agrees that, with
reasonable prior notice not more than once during any year, it will permit authorized representatives of the Issuer, the Servicer, the Sponsor or the Administrator, during the Asset Representations Reviewer’s normal business hours, to examine
and review the books of account, records, reports and other documents and materials of the Asset Representations Reviewer relating to (a) the performance of the Asset Representations Reviewer’s obligations under this Agreement,
(b) payments of fees and expenses of the Asset Representations Reviewer for its performance and (c) a claim made by the Asset Representations Reviewer under this Agreement. In addition, the Asset Representations Reviewer will permit the
Issuer’s, the Servicer’s, the Sponsor’s or the Administrator’s representatives to make copies and extracts of any of those documents and to discuss them with the Asset Representations Reviewer’s officers and employees. Each
of the Issuer, the Servicer, the Sponsor and the Administrator will, and will cause its authorized representatives to, hold in confidence the information except if disclosure may be required by law or if the Issuer, the Servicer, the Sponsor or the
Administrator reasonably determines that it is required to make the disclosure under this Agreement or the other Basic Documents. The Asset Representations Reviewer will maintain all relevant books, records, reports and other documents and materials
for a period of at least two years after the termination of its obligations under this Agreement. 
 Section 4.7. Delegation of
Obligations. The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer, the Sponsor and the Servicer. 

Section 4.8. Confidential Information. 

(a) Treatment. The Asset Representations Reviewer agrees to hold and treat Confidential Information given to it under this Agreement in
confidence and under the terms and conditions of this Section 4.8, and will implement and maintain safeguards to further assure the confidentiality of the Confidential Information. The Confidential Information will not, without the prior
consent of the Issuer, the Sponsor and the Servicer, be disclosed or used by the Asset Representations Reviewer, or its officers, directors, employees, agents, representatives or affiliates, including legal counsel (collectively, the
“Information Recipients”) other than for the purposes of performing Asset Reviews of Subject Leases or performing its obligations under this Agreement. The Asset Representations Reviewer agrees that it will not, and will cause its
Affiliates to not (i) purchase or sell securities issued by NMAC or its Affiliates or special purpose entities on the basis of Confidential Information or (ii) use the Confidential Information for the preparation of research reports,
newsletters or other publications or similar communications. 
 (b) Definition. “Confidential Information” means
oral, written and electronic materials (irrespective of its source or form of communication) furnished before, on or after the date of this Agreement to the Asset Representations Reviewer for the purposes contemplated by this Agreement, including:

 (i) lists of Subject Leases and any related Review Materials; 

  

					
		 	9	 	

 (ii) origination and servicing guidelines, policies and procedures and form
contracts; and 
 (iii) notes, analyses, compilations, studies or other documents or records prepared by the Sponsor or the
Servicer, which contain information supplied by or on behalf of the Sponsor or the Servicer or their representatives. 
 However, Confidential Information
will not include information that (A) is or becomes generally available to the public other than as a result of disclosure by the Information Recipients, (B) was available to, or becomes available to, the Information Recipients on a
non-confidential basis from a Person or entity other than the Issuer, the Sponsor or the Servicer before its disclosure to the Information Recipients who, to the knowledge of the Information Recipient is not bound by a confidentiality agreement with
the Issuer, the Sponsor or the Servicer and is not prohibited from transmitting the information to the Information Recipients, (C) is independently developed by the Information Recipients without the use of the Confidential Information, as
shown by the Information Recipients’ files and records or other evidence in the Information Recipients’ possession or (D) the Issuer, the Sponsor or the Servicer provides permission to the applicable Information Recipients to release.

 (c) Protection. The Asset Representations Reviewer will take reasonable measures to protect the secrecy of and avoid disclosure
and unauthorized use of Confidential Information, including those measures that it takes to protect its own confidential information and not less than a reasonable standard of care. The Asset Representations Reviewer acknowledges that Personally
Identifiable Information is also subject to the additional requirements in Section 4.9. 
 (d) Disclosure. If the Asset
Representations Reviewer is required by applicable law, regulation, rule or order issued by an administrative, governmental, regulatory or judicial authority to disclose part of the Confidential Information, it may disclose the Confidential
Information. However, before a required disclosure, the Asset Representations Reviewer, if permitted by law, regulation, rule or order, will use its reasonable efforts to provide the Issuer, the Sponsor and the Servicer with notice of the
requirement and will cooperate, at the Sponsor’s expense, in the Issuer’s and the Sponsor’s pursuit of a proper protective order or other relief for the disclosure of the Confidential Information. If the Issuer or the Sponsor is
unable to obtain a protective order or other proper remedy by the date that the information is required to be disclosed, the Asset Representations Reviewer will disclose only that part of the Confidential Information that it is advised by its legal
counsel it is legally required to disclose. 
 (e) Responsibility for Information Recipients. The Asset Representations Reviewer will
be responsible for a breach of this Section 4.8 by its Information Recipients. 
 (f) Violation. The Asset
Representations Reviewer agrees that a violation of this Agreement may cause irreparable injury to the Issuer, the Sponsor and the Servicer and the Issuer, the Sponsor and the Servicer may seek injunctive relief in addition to legal remedies. If

  

					
		 	10	 	

 
an action is initiated by the Issuer or the Servicer to enforce this Section 4.8, the prevailing party will be entitled to reimbursement of costs and expenses, including reasonable
attorney’s fees and expenses, incurred by it for the enforcement. 
 Section 4.9. Personally Identifiable Information. 

(a) Definitions. “Personally Identifiable Information” or “PII” means information in any format about
an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), vehicle identification number or “VIN”, any other actual or assigned attribute associated with or identifiable
to an individual and any information that when used separately or in combination with other information could identify an individual. “Issuer PII” means PII furnished by the Issuer, the Servicer or their Affiliates to the Asset
Representations Reviewer and PII developed or otherwise collected or acquired by the Asset Representations Reviewer in performing its obligations under this Agreement. 

(b) Use of Issuer PII. The Issuer does not grant the Asset Representations Reviewer any rights to Issuer PII except as provided in this
Agreement. The Asset Representations Reviewer will use Issuer PII only to perform its obligations under this Agreement or as specifically directed in writing by the Issuer and will only reproduce Issuer PII to the extent necessary for these
purposes. The Asset Representations Reviewer must comply with all laws applicable to PII, Issuer PII and the Asset Representations Reviewer’s business, including any legally required codes of conduct, including those relating to privacy,
security and data protection. The Asset Representations Reviewer will protect and secure Issuer PII. The Asset Representations Reviewer will implement privacy or data protection policies and procedures that comply with applicable law and this
Agreement. The Asset Representations Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative, technical and physical safeguards to (i) protect the security, confidentiality and
integrity of Issuer PII, (ii) ensure against anticipated threats or hazards to the security or integrity of Issuer PII, (iii) protect against unauthorized access to or use of Issuer PII and (iv) otherwise comply with its obligations
under this Agreement. These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g., intrusion protection, data storage protection and data transmission
protection) and physical security measures. 
 (c) Additional Limitations. In addition to the use and protection requirements
described in Section 4.9(b), the Asset Representations Reviewer’s disclosure of Issuer PII is also subject to the following requirements: 

(i) The Asset Representations Reviewer will not disclose Issuer PII to its personnel or allow its personnel access to Issuer
PII except (A) for the Asset Representations Reviewer personnel who require Issuer PII to perform an Asset Review, (B) with the prior consent of the Issuer or (C) as required by applicable law. When permitted, the disclosure of or
access to Issuer PII will be limited to the specific information necessary for the individual to complete the assigned task. The Asset Representations Reviewer will inform personnel with access to Issuer PII of the confidentiality requirements in
this Agreement and train its personnel with access to Issuer PII on the proper use and protection of Issuer PII. 

  

					
		 	11	 	

 (ii) The Asset Representations Reviewer will not sell, disclose, provide or
exchange Issuer PII with or to any third party without the prior consent of the Issuer. 
 (d) Notice of Breach. The Asset
Representations Reviewer will notify the Issuer promptly in the event of an actual or reasonably suspected security breach, unauthorized access, misappropriation or other compromise of the security, confidentiality or integrity of Issuer PII and,
where applicable, immediately take action to prevent any further breach. 
 (e) Return or Disposal of Issuer PII. Except where return
or disposal is prohibited by applicable law, promptly on the earlier of the completion of the Review or the request of the Issuer, all Issuer PII in any medium in the Asset Representations Reviewer’s possession or under its control will be
(i) destroyed in a manner that prevents its recovery or restoration or (ii) if so directed by the Issuer, returned to the Issuer without the Asset Representations Reviewer retaining any actual or recoverable copies, in both cases, without
charge to the Issuer. Where the Asset Representations Reviewer retains Issuer PII, the Asset Representations Reviewer will limit the Asset Representations Reviewer’s further use or disclosure of Issuer PII to that required by applicable law.

 (f) Compliance; Modification. The Asset Representations Reviewer will cooperate with and provide information to the Issuer
regarding the Asset Representations Reviewer’s compliance with this Section 4.9. The Asset Representations Reviewer and the Issuer agree to modify this Section 4.9 as necessary from time to time for either party to
comply with applicable law. 
 (g) Audit of Asset Representations Reviewer. The Asset Representations Reviewer will permit the Issuer
and its authorized representatives to audit the Asset Representations Reviewer’s compliance with this Section 4.9 during the Asset Representations Reviewer’s normal business hours on reasonable advance notice to the Asset
Representations Reviewer, and not more than once during any year unless circumstances necessitate additional audits. The Issuer agrees to make reasonable efforts to schedule any audit described in this Section 4.9 with the inspections
described in Section 4.6. The Asset Representations Reviewer will also permit the Issuer and its authorized representatives during normal business hours on reasonable advance written notice to audit any service providers used by the
Asset Representations Reviewer to fulfill the Asset Representations Reviewer’s obligations under this Agreement. 
 (h) Affiliates
and Third Parties. If the Asset Representations Reviewer processes the PII of the Issuer’s Affiliates or a third party when performing an Asset Review, and if such Affiliate or third party is identified to the Asset Representations
Reviewer, such Affiliate or third party is an intended third-party beneficiary of this Section 4.9, and this Agreement is intended to benefit the Affiliate or third party. The Affiliate or third party will be entitled to enforce the PII
related terms of this Section 4.9 against the Asset Representations Reviewer as if each were a signatory to this Agreement. 

  

					
		 	12	 	

 ARTICLE V 

RESIGNATION AND REMOVAL; 
 SUCCESSOR
ASSET REPRESENTATIONS REVIEWER 
 Section 5.1. Eligibility Requirements for Asset Representations Reviewer. The Asset
Representations Reviewer must be a Person who (a) is not Affiliated with the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (b) was not, and is not Affiliated with a Person
that was, engaged by the Sponsor or any Underwriter to perform any due diligence on the Leases prior to the Closing Date. 

Section 5.2. Resignation and Removal of Asset Representations Reviewer. 

(a) No Resignation of Asset Representations Reviewer. The Asset Representations Reviewer will not resign as Asset Representations
Reviewer except (i) if the Asset Representations Reviewer is merged into or becomes an Affiliate of the Sponsor, the Servicer, the Indenture Trustee, the Owner Trustee, (ii) the Asset Representations Reviewer no longer meets the
eligibility requirements in Section 5.1, or (iii) upon a determination that the performance of its duties under this Agreement is no longer permissible under applicable law and there is no reasonable action that it could take to make the
performance of its obligations under this Agreement permitted under applicable law. Upon the occurrence of one of the foregoing events, the Asset Representations Reviewer shall promptly resign and the Sponsor shall appoint a successor Asset
Representations Reviewer. The Asset Representations Reviewer will deliver a notice of its resignation to the Issuer, the Sponsor and the Servicer, and if the Asset Representation Reviewer resigns pursuant to clause (b) above, an Opinion of
Counsel supporting its determination. 
 (b) Removal of Asset Representations Reviewer. If any of the following events occur, the
Indenture Trustee, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes, by notice to the Asset Representations Reviewer, shall remove the Asset Representations Reviewer and terminate its rights and
obligations under this Agreement: 
 (i) the Asset Representations Reviewer no longer meets the eligibility requirements in
Section 5.1; 
 (ii) the Asset Representations Reviewer breaches of any of its representations, warranties,
covenants or obligations in this Agreement; or 
 (iii) an Insolvency Event of the Asset Representations Reviewer occurs.

 (c) Notice of Resignation or Removal. The Servicer will notify the Issuer, the Owner Trustee, the Depositor and the Indenture
Trustee of any resignation or removal of the Asset Representations Reviewer. The Depositor will report any resignation or removal of the Asset Representations Reviewer, or any appointment of a successor Asset Representations Reviewer, in the
Issuer’s Form 10-D report related to the Collection Period in which such resignation, removal or appointment took place. 

  

					
		 	13	 	

 Section 5.3. Successor Asset Representations Reviewer. 

(a) Engagement of Successor Asset Representations Reviewer. Following the resignation or removal of the Asset Representations Reviewer,
the Sponsor will appoint a successor Asset Representations Reviewer who meets the eligibility requirements of Section 5.1. 

(b) Effectiveness of Resignation or Removal. No resignation or removal of the Asset Representations Reviewer will be effective until
the successor Asset Representations Reviewer has executed and delivered to the Issuer and the Servicer an agreement accepting its engagement and agreeing to perform the obligations of the Asset Representations Reviewer under this Agreement or
entered into a new agreement with the Issuer on substantially the same terms as this Agreement. 
 (c) Transition and Expenses. If
the Asset Representations Review resigns or is removed, the Asset Representations Reviewer will cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations
Reviewer’s rights and obligations under this Agreement to the successor Asset Representations Reviewer. The Asset Representations Reviewer will pay the reasonable expenses of transitioning the Asset Representations Reviewer’s obligations
under this Agreement and preparing the successor Asset Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer or the successor Asset Representations Reviewer. 

Section 5.4. Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is merged or
consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person meets the eligibility requirements
in Section 5.1, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s
obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE VI 

OTHER AGREEMENTS 

Section 6.1. Independence of Asset Representations Reviewer. The Asset Representations Reviewer will be an independent contractor
and will not be subject to the supervision of, or deemed to be the agent of, the Issuer, the Indenture Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. None of the Issuer,
the Indenture Trustee or the Owner Trustee shall be responsible for monitoring the performance of the Asset Representations Reviewer or liable to any Person for the failure of the Asset Representations Reviewer to perform its obligations hereunder.
Unless authorized by the Issuer, the Indenture Trustee or the Owner Trustee, respectively, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Indenture Trustee or the Owner Trustee and will not be
considered an agent of the Issuer, the Indenture Trustee or the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and either of the Issuer, the Indenture Trustee or the Owner Trustee members of any partnership,
joint venture or other separate entity or impose any liability as such on any of them. 

  

					
		 	14	 	

 Section 6.2. No Petition. Each party hereto, by entering into this 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 (and, to the fullest extent permitted by applicable law, the
Indenture Trustee shall not have the power to) institute against, or join any other Person in instituting against, the Grantor, the Titling Trustee, the Titling Trust, the Depositor, the Issuer, 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. 

Section 6.3. Limitation of Liability of Owner Trustee. This Agreement has been signed on behalf of the Issuer by Wilmington Trust,
National Association not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer. In no event will Wilmington Trust, National Association in its individual capacity or a beneficial owner of the Issuer have any liability
for the representations, warranties, covenants, agreements or other obligations of the Issuer under this Agreement, as to all of which recourse shall be had solely to the assets of the Issuer. For all purposes under this Agreement, the Owner Trustee
will be subject to, and entitled to the benefits of, the Trust Agreement. 
 Section 6.4. Termination of Agreement. This
Agreement will terminate, except for the obligations under Section 4.5, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated
under the Trust Agreement. 
 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1. Amendments. 

(a) Any term or provision of this Agreement may be amended by the parties hereto, without the consent of any other Person subject to the
satisfaction of one of the following conditions: 
 (i) the Seller or the Servicer delivers an Officer’s Certificate or
Opinion of Counsel to the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii) the Rating Agency Condition is satisfied with respect to such amendment; 

provided, that no amendment pursuant to this Section 7.1 shall be effective which affects the rights, protections or duties of the
Indenture Trustee or the Owner Trustee without the prior written consent of such Person, (which consent shall not be unreasonably withheld or delayed); provided, further, that in the event that any Certificates are held by anyone other
than the Administrator or any of its Affiliates, this Agreement may only be amended by the parties hereto if, in addition, (i) the Holders of the Certificates evidencing a majority of the Certificate Balance of the Certificates consent to such
amendment or (ii) such 

  

					
		 	15	 	

 
amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of Counsel delivered to the Owner Trustee, materially and adversely affect the interests of
the Certificateholders. 
 (b) This Agreement may also be amended by the parties hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders with the consent of: 

(i) the Holders of Notes evidencing not less than a majority of the Outstanding Amount of the Notes; and 

(ii) the Holders of the Certificates evidencing a majority of the Certificate Balance. 

It will not be necessary for the consent of Noteholders or Certificateholders to approve the particular form of any proposed amendment or
consent, but it will be sufficient if such consent approves the substance thereof. 
 (c) Promptly after the execution of any such amendment
or consent, the Servicer shall furnish written notification of the substance of such amendment or consent to each Rating Agency. 
 (d)
Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this
Agreement. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or
immunities under this Agreement. 
 Section 7.2. Notices. All demands, notices and communications hereunder shall be in writing
and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, by telecopier or electronically by email (if an email address is provided), and addressed in each
case as follows: (a) in the case of the Seller, to Nissan Leasing LLC II, One Nissan Way, Franklin, Tennessee, 37067, Attention: Treasurer, (b) in the case of the Servicer, to Nissan Motor Acceptance Corporation, One Nissan Way, Franklin,
Tennessee, 37067, Attention: Treasurer, (c) in the case of the Issuer or the Owner Trustee, to Nissan Auto Lease Trust 2016-B, c/o Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, Delaware
19890, Attention: Nissan Auto Lease Trust 2016-B, (d) in the case of the Indenture Trustee, to U.S. Bank National Association, 190 South LaSalle Street, 7th Floor, Chicago, IL 60603, Attention: NALT 2016-B, (e) in the case of Moody’s,
to Moody’s Investors Service, Inc., ABS Monitoring Department, 7 World Trade Center, 250 Greenwich Street, New York, New York 10007, (f) in the case of Fitch, to Fitch Ratings, 33 Whitehall Street, New York, New York, 10004, Attention:
Asset-Backed Securities Group, (g) in the case of the Asset Representations Reviewer, to Clayton Fixed Income Services LLC, 1700 Lincoln Street, Suite 2600, Denver, CO 80203, Attention: SVP Surveillance, with a copy to Clayton Fixed Income
Services LLC, 100 Beard Sawmill Road, Suite 200, Shelton, CT 06484, Attention: General Counsel; or, at such other address as shall be designated by any of the foregoing in a written notice to the other parties hereto. 

  

					
		 	16	 	

 (a) All notices, requests, reports, consents or other communications required to be delivered to
the Rating Agencies by the Servicer hereunder shall be delivered by the Servicer to each Rating Agency then rating the Notes; provided, however, any demand, notice or communication to be delivered hereunder or under any other Basic
Document to any Rating Agency shall be deemed to be delivered if a copy of such demand, notice or communication has been posted on any web site maintained by NMAC pursuant to a commitment to any Rating Agency relating to the Notes in accordance with
17 C.F.R. 240 17g-5(a)(3). 
 Section 7.3. Limitations on Rights of Others. The provisions of this Agreement are solely for the
benefit of the Sponsor, the Servicer, the Issuer and the Asset Representations Reviewer. The Indenture Trustee (for the benefit of the Noteholders) will be an express third-party beneficiary of this Agreement and entitled to enforce this agreement
against the parties hereto. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any
covenants, conditions or provisions contained herein. 
 Section 7.4. Severability. If any one or more of the covenants,
agreement, provisions or terms of this Agreement shall be for any reason whatsoever held invalid or unenforceable in any jurisdiction, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants,
agreements provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 7.5. Separate Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 Section 7.6.
Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

Section 7.7. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 7.8. Waivers. No failure or delay on the part of any party hereto in exercising any power, right or remedy under this
Agreement shall operate as a waiver hereof or thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise hereof or thereof or the exercise of any such power, right or remedy preclude
any other or further exercise hereof or thereof or the exercise of any other power, right or remedy. 
 [Remainder of Page Left Blank] 

  

					
		 	17	 	

 EXECUTED BY: 
  

			
	NISSAN AUTO LEASE TRUST 2016-B,
	    as Issuer
	
	By: WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity,
	      but solely as Owner Trustee
		
	By:	 	 /s/ Dorri Costello

		 	Name: Dorri Costello
		 	Title: Vice President
	
	NISSAN MOTOR ACCEPTANCE CORPORATION,
	      as Servicer
		
	By:	 	 /s/ Mark Kaczynski

		 	Name: Mark Kaczynski
		 	Title: President
	
	 CLAYTON FIXED INCOME SERVICES LLC,

      as Asset Representations Reviewer

		
	By:	 	 /s/ Robert Harris

		 	Name: Robert Harris
		 	Title: Secretary

  

					
		 	[Signature Page to Asset Representations Review Agreement]	  	

 Schedule A 

Representations and Warranties, Review Materials and Tests 

Representation and Warranty 
 (a)
Such Lease relates to a Nissan or an Infiniti automobile, light duty truck, minivan, or sport utility vehicle, of a model year of 2013 or later; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lease Agreement indicates the Leased Vehicle is a Nissan or Infinity automobile, light duty truck, minivan or sport utility vehicle 

 

	 	ii)	Confirm the Lease Agreement indicates the Leased Vehicle is a model year 2013 or later 

  

	 	iii)	If Steps (i) and (ii) are confirmed, then Test Pass 

  

					
		 	A-1	 	

 Representation and Warranty 

(b) Such Lease is written with respect to a Leased Vehicle that was at the time of the origination of the related Lease a new Nissan or
Infiniti motor vehicle; 
 Review Materials 

Lease Agreement 
 Tests 

 

	 	i)	Confirm the Leased Vehicle is identified in the Lease Agreement as a new Nissan or Infinity motor vehicle at the time of origination 

 

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-2	 	

 Representation and Warranty 

(c) Such Lease was originated in the United States on or after December 1, 2013, by a Dealer for a Lessee with a United States address;

 Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lease Agreement was executed on or after the oldest allowable date of execution 

  

	 	ii)	Confirm the Lessee’s address as stated on the Lease Agreement is located within the United States 

  

	 	iii)	If Steps (i) and (ii) are confirmed, then Test Pass 

  

					
		 	A-3	 	

 Representation and Warranty 

(d) Such Lease is payable solely in United States dollars; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lease Agreement is payable in U.S. Dollars 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-4	 	

 Representation and Warranty 

(e) Such Lease and the related Leased Vehicle are owned by the Titling Trust, free of all liens, other than any lien placed upon a Certificate
of Title in connection with the delivery of title documentation to the Titling Trustee in accordance with Customary Servicing Practices in effect at the time of origination; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Vehicle Identification Number (VIN) on the Lease Agreement matches the VIN on the Title Documents 

  

	 	ii)	Confirm the Title Documents designate the Titling Trust as the owner of the Leased Vehicle 

  

	 	iii)	Confirm the Title Documents do not report any additional security parties or liens tied to the Leased Vehicle 

  

	 	iv)	If Steps (i) through (iii) are confirmed, the Test Pass 

  

					
		 	A-5	 	

 Representation and Warranty 

(f) Such Lease has a remaining term to maturity, of not less than 14 months and not greater than 57 months; 

Review Materials 
 Data Tape 

Tests 
  

	 	i)	Confirm the remaining number of payments is within the allowable limits 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-6	 	

 Representation and Warranty 

(g) Such Lease provides for level payments (exclusive of taxes) that fully amortize the adjusted capitalized cost of the Lease to the related
Contract Residual over the lease term at a rate implicit in the Lease and corresponding to the disclosed rent charge and, in the event of a Lessee initiated early termination, provides for payment of the Early Termination Charge; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm that all lease payments are equal 

  

	 	ii)	Confirm the total of the number of payments and amount of payments, with any first and last payment (if applicable) is equal to the Adjusted Capitalized cost minus the residual value of the Leased Vehicle plus the rent
charge 

  

	 	iii)	Confirm the Lease Agreement requires an Early Termination Charge be paid in the event that the Lessee initiates early termination of the Lease 

 

	 	iv)	If Steps (i) through (iii) are confirmed, then Test Pass 

  

					
		 	A-7	 	

 Representation and Warranty 

(h) Such Lease was originated in compliance with, and complies in all material respects with, all material applicable legal requirements; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lease Agreement form number and revision date are on the List of Approved Forms 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-8	 	

 Representation and Warranty 

 

	 	(i)	Such Lease is not more than 29 days past due; 

 Review Materials 

Data Tape 
 Tests 

 

	 	i)	Confirm the Lease was not more than 29 days past due 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-9	 	

 Representation and Warranty 

(j) Such Lease (A) is the valid, legal and binding full-recourse payment obligation of the related Lessee, enforceable against such Lessee
in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’
rights in general or (ii) general principles of equity; 
 Review Materials 

Lease Agreement 
 Data Tape 

Lease File 
 Tests 

 

	 	i)	Confirm the Lease Agreement form number and revision date are on the List of Approved Forms 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-10	 	

 Representation and Warranty 

(k) the records of the Servicer do not reflect that such Lease has been satisfied, subordinated, rescinded, canceled or terminated 

Review Materials 
 Lease Agreement 

Data Tape 
 Lease File 

Tests 
  

	 	i)	Confirm there is no indication within the Lease File that the Lease has been subordinated, rescinded, cancelled or terminated 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-11	 	

 Representation and Warranty 

(l) the records of the Servicer do not reflect that such Lease is subject to any asserted or threatened right of rescission, setoff,
counterclaim or defense; 
 Review Materials 

Lease Agreement 
 Data Tape 

Lease File 
 Tests 

 

	 	i)	Confirm there is no indication within the Lease File that the Lease is subject to any asserted or threatened right of rescission, setoff counterclaim or defense 

 

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-12	 	

 Representation and Warranty 

(m) the records of the Servicer reflect that, other than payment defaults continuing for a period of no more than 29 days as of the Cutoff
Date, no default, breach or violation of such Lease occurred 
 Review Materials 

Lease Agreement 
 Data Tape 

Lease File 
 Tests 

 

	 	i)	Confirm there is no indication within the Lease File of any past or current default, breach or violation other than a payment default of no more than 29 days 

 

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-13	 	

 Representation and Warranty 

(n) the records of the Servicer do not reflect that any default, breach or violation of such Lease has been waived (other than deferrals and
waivers of late payment charges or fees permitted under the Servicing Agreement); 
 Review Materials 

Lease Agreement 
 Data Tape 

Lease File 
 Tests 

 

	 	i)	Confirm there is no indication within the Lease File of any waiver or deferrals of any breach or violation of the Lease other than deferrals and waivers of late payment charges or fee permitted under the Servicing
Agreement 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-14	 	

 Representation and Warranty 

(o) Such Lease is not a Defaulted Lease; 

Review Materials 
 Data Tape 

Tests 
  

	 	i)	Confirm the Lease is not a defaulted Lease 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-15	 	

 Representation and Warranty 

(p) the related Lessee with respect to such Lease is a person located in one or more of the 50 states of the United States or the District of
Columbia and is not (i) NMAC or any of its Affiliates, or (ii) the United States or any State or any agency or potential subdivision thereof; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lessee’s physical address is located within the United States 

  

	 	ii)	Confirm the Lessee is a natural person, and not NMAC or any of its Affiliates, the United States or any State or any agency or potential subdivision thereof 

 

	 	iii)	If Steps (i) and (ii) are confirmed, then Test Pass 

  

					
		 	A-16	 	

 Representation and Warranty 

(q) such Lease constitutes either “tangible chattel paper” or “electronic chattel paper”, as defined in the UCC; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	If the Lease Agreement is considered tangible chattel paper, confirm there is one original executed copy 

  

	 	ii)	If the Lease Agreement is considered electronic chattel paper, confirm it was completed electronically and is identified as being held in NMAC’s electronic vault at Dealertrack 

 

	 	iii)	Confirm the Lease Agreement was manually executed or completed electronically, as applicable, by the Lessee and Lessor. 

  

	 	iv)	If Steps (i) or (ii) and (iii) are confirmed, then Test Pass 

  

					
		 	A-17	 	

 Representation and Warranty 

(r) in the case of each 2016-B Lease that constitutes tangible chattel paper, there is only one original executed copy of each tangible
“record” constituting or forming a part of such Lease; and in the case of each 2016-B Lease that constitutes electronic chattel paper, there is only a single “authoritative copy” (as such term is used in Section 9-105 of the
UCC) of each electronic “record” constituting or forming a part of such Lease ; 
 Review Materials 

Lease Agreement 
 Tests 

 

	 	i)	If the Lease Agreement is considered tangible chattel paper, confirm there is one original copy 

  

	 	ii)	If the Lease Agreement is considered electronic chattel paper, confirm it was completed electronically and is identified as being held in NMAC’s electronic vault at Dealertrack 

 

	 	iii)	If Steps (i) and (ii) are confirmed, then Test Pass 

  

					
		 	A-18	 	

 Representation and Warranty 

(s) such Lease has an original term of not less than 24 months and not greater than 60 months; 

Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Number of Payments on the Lease Agreement is within the allowable limits 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-19	 	

 Representation and Warranty 

(t) under the terms of such Lease, the related Lessee is required to maintain physical damage insurance covering the related Leased Vehicle;
and 
 Review Materials 
 Lease Agreement 

Tests 
  

	 	i)	Confirm the Lease Agreement requires the Lessee to obtain and maintain physical damage insurance covering the related Leased Vehicle 

 

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-20	 	

 Representation and Warranty 

(u) has a Securitization Value, as of the Cutoff Date, of no greater than $122,272.02. 

Review Materials 
 Data Tape 

Tests 
  

	 	i)	Confirm the Securitization Value of the Leased Vehicle within the Data Tape is below the maximum allowable limit 

  

	 	ii)	If confirmed, then Test Pass 

  

					
		 	A-21Exhibit

EXHIBIT 10(o)

AMENDMENT
TO
CHANGE IN CONTROL SEVERANCE PROTECTION AGREEMENT

This is an amendment to the Change in Control Severance Protection Agreement made by and between Campbell Soup Company (the "Company") and [                     ] (the "Executive") (the "Agreement").

WHEREAS, the Company previously entered into the Agreement with the Executive as of [                     ]; and

WHEREAS, the Company desires to amend Section 3.1(a) and Schedule A to the Agreement to reflect the new total compensation structure approved for fiscal 2016.

NOW, THEREFORE, the Agreement is amended as set forth herein:

		
	1.
	Effective July 1, 2016, the last two sentences of Section 3.1(a) are amended to read as follows:

“The term “Bonus Amount” shall mean the greater of the (x) Executive's target bonus under the Campbell Soup Company Annual Incentive Plan for the fiscal year in which the Termination Date occurs or (y) average of the annual bonuses paid or payable to the Executive during the two full fiscal years immediately prior to the Termination Date.  If the Executive’s target bonus is expressed as a range, to determine the Bonus Amount in (x) above, the Executive’s target bonus shall mean the average of the low and high incentive targets of the range for each level.  Executive’s entitlement to any other compensation or benefits shall be determined in accordance with the Company’s employee benefit plans and other applicable programs and practices then in effect.”

		
	2.
	Effective July 1, 2016, Schedule A of the Agreement is amended to read, in its entirety, as follows:

Schedule A to Severance Protection Agreement

(a)  The Executive’s Severance Amount provided for in Section 3.1(b)(ii) shall equal the severance pay multiple set forth below next to the Executive’s salary level at the Termination Date multiplied by the sum of: (A) the greater of (1) the Executive’s annual base salary in effect at any time during the 90-day period immediately prior to the Change in Control or (2) the Executive’s annual base salary in effect at any time following the Change in Control, and (B) the Bonus Amount.

	
		
	Salary Level at Termination Date
	Severance Pay Multiple

	B
	2.0 

	A
	2.5 

(b)  The Benefits Continuation Period provided for in Section 3.1(b)(iii) shall be determined using the number of months set forth below next to the Executive’s salary level at the Termination Date.

	
		
	Salary Level at Termination Date
	Benefits Continuation Period

	B
	24 months

	A
	30 months

(c)  The additional service credit provided for in Section 3.1(b)(iv)(w) shall be equal to the number of months set forth below next to the Executive’s salary level at the Termination Date.

	
		
	Salary Level at Termination Date
	Additional Service Credit

	B
	24 months

	A
	30 months

(d) Notwithstanding the foregoing and any provision of the Agreement to the contrary, if the Severance Amounts as set forth above are less than Severance Amounts an individual would have received prior to these effective July 1, 2016 changes, the prior Severance Amounts based on the prior compensation structure shall apply.

IN WITNESS WHEREOF, this instrument has been executed on ______________, 2016.
        
	
		
	Campbell Soup Company

	 
	 

	By:
	 

	 
	Corporate Secretary

	 
	 

	By:
	 

	 
	Executive

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